My beef with this card is the 1 time offer of 5X for 6mo. after that is 1X...

6k-10k MS a month for 6 months will give you (36k-60k x 5) 180k-300k points. Isn't that good enough for statement credits? just curious.

I couldn't agree more. WF is losing money on the 5% six month promotion.

Are there two cards out there? I have 5x rewards for 6 months. Is there another card with 5% cashback or what does the 5% mean?

I think there are at least three. One is 5% cashback, one is 5% points, and one is 5% cashback to your mortgage

https://www.wellsfargo.com/credit-cards/

Found the answer for this in T&C of the 5x card:

"8.There is no limit to the Points You may earn in any calendar year."

Thnks.

Can anyone with the points card shed some light on their value and what they can be redeemed for? 1 cent each? Statement credits?

Between the two cards, you can potentially have 12 months of 5%. 18 months if you have a WF mortgage.

They must have updated the terms and conditions cause I was cut off at 120000 back in may...have a new card under my wife's name.

Yes, WF has a few different flavors of cards--5X and 5%.

somehow I doubt that Wells Fargo will let you power through the 6mo. promo doing 10K per mo. with all charges being CVS, Walgreens, and Albersons and the like.

maybe I am just skeptical.

anybody been shut down for heavy MS with this promo???

I dont think its a mater of them shutting us down as much as it is us getting fed up with them and bailing.. Example I wasted about a month of time because I did not pay from a WF account... they dont release credit line for up yo 2 weeks from payment date
This effectively forces people to open a checking account with them . My guess they are betting people will forget to maintain accounts and they will be able to charge fees... ETC
Also I just found out today that they blacklist some banks to where they wont accept payments from them through WF online ,and if you want to pay from such an account you have to send a check or use that bank's bill pay service EX Gobank

on the bright side
hope this card gets real Chip and pin soon otherwise its getting put away in my closet until better days after 6 months.... I only have 2K limit on it vs other banks 10k+ limit, and thats with me being an WF customer for about 3 years
:rolleyes::mad:

I suspect that they don't give out large CLs to new customers. Per say If I get a 5K cl I'd probably do 80% of it, 4K, which is pretty good. however if you get a 2 or 3K CL. I don't know if it's worth the pull, if no bonus...

though, if WF is getting in the CC business to gain market share, you might as well get started with WF and be in line for future offers...

This is not correct. I have the 5% cashback card and so far have spent $2500 in 3 weeks on it for VR, and have made payments via BB to it and the credit line was freed up. You don't have to wait 2 weeks from the pmt date, not sure why you thought that.