Wells Fargo 5X rewards cap
 

At the local branch

well my update is that I tried and tried again to get the 5% category applied to my account, but they declined. So I closed it.

Sucks. I now hate WF! congrats to all who did get it, you'll profit nicely off this one!

Does the 5x bonus line show up for each transaction after it posts or just on the statement? I got the card a month ago and they confirmed over the phone 5x for first 6 months but nothing shows up below my posted transactions that indicates a bonus.

What's the harm in applying again for 5x? Are you precluded from getting the offer somehow?

no I don't think so, I had applied outside of my usual churn so I think I got unfavorable terms due to my recent account opening with other providers tbh.

right now I'll just give it a break from applying, if it's still available next year around July I may apply again. I don't want to take another hard inq. for nothing.

Base points and bonus 4x points (total 5x points) show separately in each line few days after the transaction is posted. WF is ridiculously slow on updating transactions/payments. You can check rewards points by clicking on Wells Fargo rewards on the left side and then on the next page click activity (in the top, move the mouse onto one of the tabs to "activity") to see processing points. Points from the current statement won't be posted as available until after the statement closes. I redeemed points from last stmnt to a personal cheque and current points are not posted yet.

Cool thanks. It doesn't show it on the main page but I went to the rewards site and it does show it.

WF 5X shutdown
 

A warning for MSers. I just had my WF checking, savings, and 5X CC accounts closed. My data points: MSed (all 5x categories) 1X my CL the first billing statment, nearly 4x my CL the second, 13+ my CL the third, and about 9 times my CL midway through my fourth billing cycle.

Anyone else been shut down? If so, what was your volume (feel free to PM if you prefer).

I hope you at least got some of the rewards (not sure if you have cash or points) out!

I cashed out after each statement posting and will litigate in small claims court, if necessary, to receive the balance from the final statement.

Just to get an idea of absolute numbers. What (approx if you like) was the CL?

my CL is 8k. I spent 10k in first month. redeemed the points immediately after posting. currently in 2nd stmnt and already spent 13k. Was planning to do more, but based on above posting, I will slow down. No more MS this month. I was hoping to cash this cow to the max.

I don't have the card, but the person did 13x his CL. That is really pushing it and I'm sure somebody took notice.

Would it be fair to say that the activities you were doing in your checking & savings accounts that enabled you to roll your CL 13+ times could have gotten your checking/savings accounts shut down even if you didn't have the credit card?

That is what I suspect. I really dislike WF as a bank -- WF is a pain to deal with, and did anyone see the LA Times investigative story on WF's overbearing sales tactics and the pressure it applies and threats it makes against its employees? -- so there's a part of me that doesn't mind interacting less with WF.

I have a $1K CL with them as well and maximum I spent during the billing cycle was $1.5K-$2K. I decided not to push very hard to avoid shutdown. Still good (going to fourth month).

100% agree. Actually WF is one of the most arrogant institutions I can think of, and this is coming from someone who's had a cynical view at some of the worst out there. F***ing over WF is definitely a fair sport.

^I encourage everyone to F--- away.

What is the point to not go hard, what are you risking? Your max profit is $84.99 per month at $2k.

I'm into my 4th month and finally went over CL for first time. Planning on just doing 2x and then maybe 3x for 5th month. Then go nuts for last statement.

You probably got shut down for going over CL that much
Wells Fargo fraud department told me from the very beginning
Do not go over CL or overpay CC or we will shut you down! Don't know about you but in this business I appreciate a fair warning up front

I'm fine with my $75 CB each month. It is up to person what is comfortable for him.

How do you redeem points for statement credit?

Go to Wells Fargo rewards website log in, at the top of the page you will see redeem rewards click that, a list of available reward options comes up one of which is statement credits.... minimum redemption required is 2,500 points which makes $25
you can redeem via WF checking account deposit,CC statement credit, or have them mail a check to you.

whats the comfort level for redemption of checks on wells fargorewards website ? what kind of redemptions have the community members done ?
Do checks over 1000$ casue any unnecessary delays or flags ?

just have mine deposited to my checking. No problems.

I'm wondering if 1K+ purchases are less risky than multiple $500 purchases, assuming you have a decent credit line.

I've had no issues with making $5000 purchases.

I opened a WF checking/savings accounts for building my "relationship". What is the minimum wait time before i can apply for rewards card?

Datapoint.
Fairly good banking relationship with WF (mortgage 2003-2008), small HELOC and checking and savings accounts. $15k CL on opening. Been doing 2xCL with no issue for 3 months. Had 2 automated fraud calls to confirm last 5 purchases. Pretty clean and quick and came after the purchase, rather than blocking it. Just today bought $3k then $2k at CVS (teller insisted on splitting!) which would normally trigger a block but no issue. I guess the key is developing an established spend. Challenge is you only have 6 months to do this.

Just cashed $1k in to my credit card account and it posted in 1 day.

The change to 'unlimited rewards earning' was 9/30/13.

What change was that?

I've been doing highly volume than you, and I have been getting fraud calls and some declined while at the store, including one more serious block where the cashier had to call in and I got warned on the phone to knock it out.

IF I were to do this deal over again, I'd do all $1000 purchases instead of $500. At this point I'm not sure it makes sense for me to switch over.

So they warned but didn't close the card or not give rewards on those purchases?

Correct. In fact I was allowed to do that 1k in purchases at the end of the phone call. I had been doing 2k most days...I've backed off a bit for the moment, not sure what I'll do going forward. Shortly I'll have a 2nd 5% card in play, at which point my ability to MS will be limited more by time and methods, so my spend on this card will be less.

Same here. I got several fraud alert calls while I make the transactions over the last 2 months. Yesterday, the cashier had to call in to clear my transaction and that took over 15 min while I was waiting in the line. Hated that.

WF CSR said that I am overpaying my card and will eventually be closed by compliance dept. if I keep doing this (overpaying??). I don't overpay. I just make the payment the same day transaction was made. But the in-store transaction takes three to four days to be posted.

All my payments from BB also take take 2 weeks to be cleared. Does it happen with any one else?

I was told that you can not pay more than what has been posted to your account (balance due). If charges are still in the pre authorization stage, you can not pay them until the charge ultimately posts. This may get you closed down.

All of my payments have been transfers from my checking account, and I never "prepay". I still think its code for "stop spending so much".

I did my first 1k purchase today instead of 500s, and no call or anything, so I think that will be the new plan.

WF is very finicky to say the least.

I just wrote a blog post about my fiasco with applying for a WF 5X card. If you'd like to read it, I can't post the link here, but the link to my blog, Will Run For Miles, should be in my signature.

Are people now getting decent credit lines and approvals without having any other Wells Fargo relationships?