Old Apr 10, 2014, 10:55 am
FlyerTalk Forums Expert How-Tos and Guides
Last edit by: muji
Churnable to get repeated 5x rewards?

Not possible
http://www.flyertalk.com/forum/22871522-post710.html

Update April 16, 2016: Still Not Churnable
http://www.flyertalk.com/forum/credi...l#post26511091
__________________________________________________ _____________

How to pay down CL quickly?
ACH push from other banks to wells fargo checking and then use that to pay credit card


Likely to get shut down if...?
- Have a negative balance
- Have a really high balance
- Cycling several times through your CL
- Calling in and getting caught by human eyes for suspicious activities.


To check what your 5X/5% window is:
In the rewards account, go to My Rewards -> Account Activity and the days left on the promo will show up at the top....looks like a pie chart.


To check which transactions get 5X/5% before your statement posts
Now, to check if new transactions are eligible for 5X before statement closes, go to "My Rewards" on the top and click "Activity" and set the start/end dates. You should see a "bonus earning" for 4% extra cash back for anything that's eligible.


Caps on 5x / 5%??
There are no more caps.


What to do when transaction not going through due to FA?
Human @ fraud prevention line is 877-575-0462 (to verify charges if locked out) (Update 3-3-15 - Phone number no longer in service per this post)
Automated response number was 800-446-0664
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Wells Fargo 5X rewards cap

Old Aug 19, 2013, 12:37 pm
  #1  
Original Poster
 
Join Date: Dec 2009
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Wells Fargo 5X rewards cap

If you are churning the 5x Wells Fargo card, be aware there's a 120K (calendar) yearly cap on rewards.

Don't be like me and discover you've just wasted $25K of churn.

That said - this is a good churning card that hasn't been fully devalued like the PenFed card. Yet.
kcblakely is offline  
Old Aug 19, 2013, 12:51 pm
  #2  
 
Join Date: Jan 2013
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penfed

How has PenFed been devalued?
SoCalStew is offline  
Old Aug 19, 2013, 1:17 pm
  #3  
 
Join Date: Apr 2013
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Originally Posted by SoCalStew
How has PenFed been devalued?
Look up on FatWallet finance thread....
LoveMountains is offline  
Old Aug 19, 2013, 1:20 pm
  #4  
 
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Originally Posted by SoCalStew
How has PenFed been devalued?
Penfed devalues points rewards
linglingfool is offline  
Old Aug 19, 2013, 1:36 pm
  #5  
 
Join Date: Nov 2012
Posts: 657
Originally Posted by kcblakely
If you are churning the 5x Wells Fargo card, be aware there's a 120K (calendar) yearly cap on rewards.

Don't be like me and discover you've just wasted $25K of churn.

That said - this is a good churning card that hasn't been fully devalued like the PenFed card. Yet.
I found this out about 10 days ago when my statement hit and I wasted about 7K in spend which is $55.3, I was pissed then I realized wells had already given me $1200 so I got over it.
drdrew450 is offline  
Old Aug 19, 2013, 3:39 pm
  #6  
 
Join Date: Jul 2013
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When did this 5x go public? The site says 3% until you click more details then it says 5x. Does anyone know which credit agency they pull from?
ibleed0range is offline  
Old Aug 19, 2013, 3:51 pm
  #7  
mia
A FlyerTalk Posting Legend; Moderator: American Express, Capital One, Citi, Chase, Credit Card Programs, Diners Club, Signatures
 
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Moderator action

Thread transferred to Credit Card Programs because topic is of broader interest, and not specific to manufacturing spend.
mia is offline  
Old Aug 20, 2013, 7:10 am
  #8  
 
Join Date: Aug 2010
Posts: 633
When you say good for churning, do you mean this is an easy card to cancel and get a new one with 5x, etc? Or are you simply saying churn with other cards.

The 120K limit would only use up about half of one month of my family BB cards so that would run out real quick. If it were churnable, then it may make sense to get a few of these for family members, rinse and repeat.

Just did an AOR for 4 of us however, with 6 to 8 cards each, so will probably need to wait 5 months and see if it is still available. In the mean time 5x Carlson, 6x Hilton, and 4x Flexperks are pretty decent for grocery MS. 5x cash would be much better. We have a huge relationship with WF.
FlyingBoat is offline  
Old Aug 20, 2013, 7:23 am
  #9  
 
Join Date: Aug 2004
Posts: 84
I am waiting to apply in September for this 5x card due to this limit.

Hopefully I can get 120K points in 2013 and then 120K in 2014
digital330 is offline  
Old Aug 20, 2013, 3:34 pm
  #10  
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Originally Posted by FlyingBoat
...The 120K limit would only use up about half of one month of my family BB cards so that would run out real quick....
* 120K points at the 3% rate = $40K of spend
* Monthly limit = (2 * $40K) = $80K
* .... which is 16 BB accounts.

Pix or it didn't happen.
kcblakely is offline  
Old Aug 20, 2013, 4:29 pm
  #11  
 
Join Date: Apr 2013
Posts: 417
Originally Posted by kcblakely
* 120K points at the 3% rate = $40K of spend
Why 3% if it is a 5x card?
LoveMountains is offline  
Old Aug 20, 2013, 6:15 pm
  #12  
 
Join Date: Nov 2011
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Originally Posted by kcblakely
If you are churning the 5x Wells Fargo card, be aware there's a 120K (calendar) yearly cap on rewards.

Don't be like me and discover you've just wasted $25K of churn.

That said - this is a good churning card that hasn't been fully devalued like the PenFed card. Yet.
Is this for the Rewards version only? The Home Rebate says "No limit to rebates" and the Cash one says, in the banner, unlimited cash rewards....
silver6054 is offline  
Old Aug 21, 2013, 2:56 am
  #13  
 
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Originally Posted by silver6054
Is this for the Rewards version only? The Home Rebate says "No limit to rebates" and the Cash one says, in the banner, unlimited cash rewards....
Correct, CB is unlimited. Had card for awhile...
stealph is offline  
Old Aug 21, 2013, 3:26 am
  #14  
 
Join Date: Jul 2009
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Originally Posted by stealph
Correct, CB is unlimited. Had card for awhile...
Btw, anyone had any experience churning these cards or holding multiple WF cards at the same time?
stealph is offline  
Old Aug 21, 2013, 5:38 am
  #15  
 
Join Date: Nov 2011
Posts: 450
If you don't have a Wells account, you have to apply in person. Oh fun.
newbynewbynew is offline  

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