Wells Fargo 5X rewards cap

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Old Feb 6, 17, 3:15 pm   -   Wikipost
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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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Old Aug 19, 13, 12:37 pm
  #1  
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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.
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Old Aug 19, 13, 12:51 pm
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penfed

How has PenFed been devalued?
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Old Aug 19, 13, 1:17 pm
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Originally Posted by SoCalStew View Post
How has PenFed been devalued?
Look up on FatWallet finance thread....
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Old Aug 19, 13, 1:20 pm
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Originally Posted by SoCalStew View Post
How has PenFed been devalued?
Penfed devalues points rewards
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Old Aug 19, 13, 1:36 pm
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Originally Posted by kcblakely View Post
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.
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Old Aug 19, 13, 3:39 pm
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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?
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Old Aug 19, 13, 3:51 pm
  #7  
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Thread transferred to Credit Card Programs because topic is of broader interest, and not specific to manufacturing spend.
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Old Aug 20, 13, 7:10 am
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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.
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Old Aug 20, 13, 7:23 am
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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
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Old Aug 20, 13, 3:34 pm
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Originally Posted by FlyingBoat View Post
...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.
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Old Aug 20, 13, 4:29 pm
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Originally Posted by kcblakely View Post
* 120K points at the 3% rate = $40K of spend
Why 3% if it is a 5x card?
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Old Aug 20, 13, 6:15 pm
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Originally Posted by kcblakely View Post
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....
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Old Aug 21, 13, 2:56 am
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Originally Posted by silver6054 View Post
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...
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Old Aug 21, 13, 3:26 am
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Originally Posted by stealph View Post
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?
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Old Aug 21, 13, 5:38 am
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If you don't have a Wells account, you have to apply in person. Oh fun.
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