Best Credit Cards For Nonprofits

Card Details	The Offer	Is it Worth It?
Pros and Cons	Why 5 Stars?	Fees
Benefits

Card Details

Regular APR:	Prime + 3.99% (Variable)
Intro APR (Purchases):	Not Stated
Intro APR (Balance transfers):	Not Stated
Rewards Rate:	Earn 1.5% cash back on every $1 spent or earn 1 point on every $1 spent
Credit Needed:	(670 – 850) Good/Excellent
Annual Fee:	None the first year, then $125
Card Brand:	Visa

*See online credit card application for details on the terms and conditions.

Offer Highlights

• Click APPLY NOW to apply online
• For businesses with annual sales over $1 million
• Get a one-time $1,000 cash back bonus or 100,000 bonus points when you spend $15,000 in the first three months of account open date
• Cash Back or Reward Points: Earn 1.5% cash back on every $1 spent or earn 1 point on every $1 spent and receive 5,000 bonus points when your company spend is $10,000 or more in any monthly billing period
• Travel Incidental Fee Reimbursement: up to $100 per calendar year per company
• Annual Fee: $0 first year, and then $125
• Get a 10% point credit when you redeem points online
• Travel Incidental Fee Reimbursement: up to $100 per calendar year
• Earn extra bonus points or discounts from Earn More Mall retailers

Is Wells Fargo Business Elite Signature worth it?

Wells Fargo Business Elite Signature is a great card for business owners with annual sales over $1 million who want to effectively manage their company credit cards. You can manage spending, payments, and transfers online, pay bills direct with your card over the phone, make automatic payments, and avoid overdrafts and returned check fees with overdraft protection. You can also choose between consolidated billing or individual cardholder billing.

Many of these features are standard for business cards, but you also get Business Elite Online Reporting, which allows you to track and manage cardholder spending, payments, and other transactions, analyze spending by category, view spending by merchant, and create custom reporting. Business Spending Report is available through your online account and allows you to see your categorized business card transactions and set monthly goals.

Furthermore you can assign spending controls to each card on the account, such as office administration, which allows only office-related purchases such as printing, copying, and equipment rentals. Or, travel, which is deal for employees who travel for business purposes. There is even a feature to limit spending to business hours only.

As for the value of the card itself, cardholders receive 1.5% cash back on every $1 spent or earn 1 point on every $1 spent. You can choose whether you want points or cash back. While cash back is the most flexible redemption option, there are some benefits to the points program.

For example, you get a 10% point credit when you redeem points online. You also earn extra bonus points or discounts from Earn More Mall retailers, such as 3 points per $1 at Staples, 2 points per $1 at Expedia, and 10 points per dollar at 24 hour Fitness.

To redeem for travel through Wells Fargo Rewards, standard airfare starts at 25,000 points for a domestic round-trip flight on any major airline. This is conservatively a 1.5 cent per point value, which is good for any type of standard redemption, including travel.

When booking travel online at wellsfargorewards.com, you can pay with rewards Points, cash or a combination of both, which is a nice feature not shared by every rewards program. If you choose to opt for cash back instead of points, you receive your cash back automatically as a credit to your statement or to your eligible checking or savings account each quarter: March, June, September, and December. Note that you must stay in the cash back program during the intro period to keep the cash back; you cannot switch to the points program until the 3 months has completed. As you might have expected, cash back is earned and transferred to the primary Business Elite Card account from employee accounts.

The overarching theme of Wells Fargo Business Elite Signature is flexibility for the business owner. If you have annual sales over $1 million and are less concerned about rewards (there are much higher rewards rate available with other annual fee business cards) and more concerned about keeping track of your spending and possibly setting spending controls, Wells Fargo Business Elite Signature is a great card for you.

Pros

• Get a one-time $1,000 cash back bonus or 100,000 bonus points when you spend $15,000 in the first three months of account open date
• Earn 1.5% cash back on every $1 spent or earn 1 point on every $1 spent
• Visa Signature benefits
• Up to 200 employee cards for free
• No foreign transaction fee

Cons

• $125 annual fee starting the second year
• $24 airline ticket redemption fee
• Cannot redeem travel rewards online, must call Wells Fargo Go Far Rewards customer service

Why 5 Stars?

Regular APR

5 Stars

Intro APR

4 Stars

Fees

4 Stars

Perks

5 Stars

Overall

5 Stars

Fees

Foreign Transaction Fee	None
Balance Transfer Fee	Not Stated
Cash Advance Fee	Prime + 20.74%
Penalty APR	None

Benefits

$0 Fraud Liability

Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.

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