Wells Fargo Introduces New Credit Card Rewards Program
Wells Fargo announced a new credit card rewards program called Go Far Rewards. The new program allows customers to redeem their rewards at Wells Fargo ATMs, use rewards toward a qualifying checking or savings account or apply the rewards to the principal balance of a Wells Fargo loan, including mortgages, home equity loans, credit cards and personal or auto loans.
Customers can also pool rewards with other customers, gift rewards to friends or charities, and create wish lists.
“Customers use their credit cards to pay for ordinary things they do every day, and we want the rewards they earn from doing that to feel extraordinary,” said Beverly Anderson, head of Consumer Financial Services for Wells Fargo. “With an emphasis on the flexibility and accessibility our customers told us they want, we spent the past few years updating our rewards program so significantly we felt it deserved a new name.”
Key program features include:
- The ability for cardholders to redeem their rewards toward a “CharityChoice” gift card, which allows them to make donations.
- Customers can deposit rewards into their checking or savings accounts.
- A program that helps customers reward themselves with travel. This interactive search engine, “How Far Can I Go,” shows customers various destinations they can visit based on their accumulated rewards.
- Rewards redemption for merchandise, gift cards and digital downloads.
- An app that allows cardholders to personalize their experience using a “Tailor Your Preferences” widget, which enables customers to rate reward categories.
Last year, Wells Fargo became the first major U.S. financial services provider to allow customers to redeem cash rewards from any Wells Fargo ATM.
About John H. Oldshue
John Oldshue is the creator of LowCards.com. He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for LowCards.com.