Wells Fargo Rewards is a Sleazy Program

Here is how the rewards program works. First my banker bothers me about enrolling until I do. Undoubtedly he got commission for that which ultimately I paid for in higher fees. Then I get charged $19.00 per year for the rewards program enrollment. Over time I built up points by spending money on my credit and debit cards. Then I have to go to a totally different website from the normal WellsFargo.com site, WellsFargoRewards.com, register a new account there, then log in and select cash rewards. This is hundreds of dollars that they’ve been sitting on for years.

They took my money up front and again every year automatically, just for this program. Then they make it non-automatic and non-obvious for me to reap the benefits of what I paid for. The whole process involves wasting my time (talking to my banker about it, signing up and redeeming points) just to get cash I’m entitled to. I don’t want to play this stupid, sleazy game. If they are sitting on all of this money for me why can’t they just lower my fees and interest rates with it? Because they’re hoping I’m too forgetful and/or inept to redeem, but they’ll never forget to charge me the fee!

Due to things like this (there’s more but I won’t bore you with it) and their part in the financial/mortgage crisis over the past few years I’m done doing business with Wells Fargo.

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14 thoughts on “Wells Fargo Rewards is a Sleazy Program

  1. Bank of America’s rewards cards are much better, although they’re not as good as Pentagon Federal’s (though you might not qualify to be a member of PenFed). Capital One’s are decent, too, and don’t charge currency conversion fees if you do much international travel.

    BoA and Capital One both require that you specifically redeem rewards (cash is one option) in multiples of at least $25; PenFed applies earned rewards *automatically* every month to your bill. And none of the three charges an annual fee for the card or enrollment fee for the program.

    Wells Fargo sounds like they really suck hard.

    cl

    • Strange I didn’t have to pay a 19.00 fee to start the program . But I have to go along with the difficulties in cashing them in . I gave up and just call to redeem some points .

  2. Bank of America is one of the most harmful and irresponsible financial institutions in the country. Worse than Wells Fargo overall, I think. Their rewards program may be better but there is no way I’m going to do business with them.

    I’ve heard good things about PenFed. I think I’m going to go with USAA, which is probably pretty similar to PenFed.

    • I thought I was all alone with my unhappiness with Wells Fargo Reward’s Program.
      My Mom died the end of March and I notified several of her accounts to close them.
      When I contacted Wells Fargo to claim over 45,000 points they said they closed her
      account and I cannot get them. Had I known that I would have waited and used
      the points before closing the account. I have tried several different ways to claim
      the points regardless and so far have had no luck. Any other suggestions?????

      David Thomas

  3. USAA, last I checked, didn’t have any credit cards that were competitive in terms of rewards programs, but that could have changed. (Also, I wanted a Visa, and USAA only had MasterCard last I looked.) Otherwise, I’d probably have gone with them instead of starting a relationship with Yet Another Bank (PenFed).

    cl

  4. Wells Fargo Regards is useless. I have been dealing with them for months trying to get them to link my account. No help at all. And God forbid they give you a person to e-mail and correspond with. I have been transferred at least 30 times in the process – so frustrated!

    • I feel your frustration, my Mom died and I closed her account and they when I went
      to redeem the points, over 45,000, they said they closed her account and it cannot
      be used or transferred. I also had no phone number to contact and wrote a letter
      to Oregon and have yet to receive a reply which I was assured would happen
      and it has been over a month. I was told by a Wells Fargo branch manager that
      it was in the system already and they would send me a reply with 10 days.
      Pretty poor customer service and I cannot wait to close my Mom’s checking
      account with them and be done with Wells Fargo.

    • Sounds exactly like my experience. I’m cutting up the card. I’ll pay off the balance and that will be that. WF sucks big time!!!

  5. I have had a visa from wells fargo for years. Every year I redeem about $300 cash at Christmas and buy something nice for myself. At $19 for the year enrolment fee. I don’t see how you can beat that. We also have an Amex Costco card which gives us rebates of about $500 a year. My husband uses that one, I use the VISA. We pay our balances off every month so this is completely free. Except for the $19. I use the card every single place I can. Today is the only time I have had trouble – the page won’t load. But I will keep trying and hopefully get in soon.

  6. I just recently got screwed out of $8,400 points which I earned and are mine by Wells Fargo. I have called and spoken to many levels of management within their credit card services department and Rewards Program Department and have had zero luck resolving the matter. Does anyone know who is in charge of the Wells Fargo Credit Card Division and their Rewards Department?

  7. Tryed to get my reward card in the mail found out that if you have a post office box # you will not get your gift card they know how to send the reward mail to me to my post office box . dont send me any more of your junk mail.

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