Wells Fargo (WFC) Unveils Business Credit Card With Cashback

10.05.24 17:54 Uhr

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Wells Fargo & Company WFC has unveiled a new credit card called Signify Business Cash World Elite Mastercard. The new business credit card offers 2% unlimited cash rewards on business purchases.Another attractive feature of the card will allow its holder to receive a $500 cash rewards bonus when $5,000 in business purchases are made within the first three months. Additional perks include Zero Liability protection, account alerts, digital wallets and no annual fee. Cardholders will also receive World Elite Mastercard benefits, such as MasterRental Insurance Coverage, Priority Pass and Mastercard ID Theft Protection.Jeff Hofmann, head of small business card for Wells Fargo, stated, “At Wells Fargo, we recognize that managing a small business can be complicated and business owners need the best tools to continue to succeed. Business owners told us that cash rewards programs had become too complex and didn’t provide enough value for their business.”He also added, “Signify Business Cash is our first step in the transformation of business credit cards at Wells Fargo. We will continue to identify new and innovative ways to support small business owners and meet their needs.”WFC currently has eight different types of credit cards available. These cards provide a unique set of benefits to its target audience. The bank is actively introducing attractive products to transform its business credit card offerings.Also, in March, Wells Fargo launched Autograph Journey, a credit card designed for frequent travelers that allows them to earn points irrespective of their destination of travel. This, along with other recent product offerings, has led to a significant increase in revenues from credit cards. Higher loan balances, an increase in point-of-sale volume and new account growth have aided credit card revenues for WFC.Identifying the right customers and strategically introducing new credit card products are set to position Wells Fargo for long-term success in the card business.Over the past six months, shares of WFC have jumped 50.3% compared with the industry’s 36.4% growth. Image Source: Zacks Investment ResearchCurrently, Wells Fargo sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Other Finance Stocks Taking Similar StepsThe PNC Financial Services Group, Inc. PNC has launched the PNC Cash Unlimited Visa Signature credit card. The credit card offers simple but valuable rewards with an unlimited 2% cash back on all eligible purchases.PNC’s head of credit cards, Nate Bacon, stated, "The PNC Cash Unlimited Visa Signature credit card is built around the principle of offering competitive, uncomplicated value to our clients."Robinhood Markets, Inc. HOOD has unveiled its first-ever credit card in an effort to expand its services beyond mainstream trading. The credit card, known as the Robinhood Gold Card, will be available exclusively to Robinhood Gold customers.For HOOD’s Gold members who refer at least 10 other individuals to the subscription plan, the credit card will be made from real gold.Free Report – The Bitcoin Profit PhenomenonZacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.Download Now – Today It’s FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Wells Fargo & Company (WFC): Free Stock Analysis Report The PNC Financial Services Group, Inc (PNC): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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Analysen zu Wells Fargo & Co.

DatumRatingAnalyst
14.04.2021Wells FargoCo buyUBS AG
26.03.2020Wells FargoCo HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
10.07.2019Wells FargoCo UnderperformWolfe Research
29.03.2019Wells FargoCo HoldDeutsche Bank AG
02.01.2019Wells FargoCo OverweightBarclays Capital
DatumRatingAnalyst
14.04.2021Wells FargoCo buyUBS AG
02.01.2019Wells FargoCo OverweightBarclays Capital
02.01.2018Wells FargoCo OverweightBarclays Capital
03.01.2017Wells FargoCo OverweightBarclays Capital
24.10.2016Wells FargoCo Market PerformBMO Capital Markets
DatumRatingAnalyst
26.03.2020Wells FargoCo HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
29.03.2019Wells FargoCo HoldDeutsche Bank AG
15.09.2017Wells FargoCo NeutralUBS AG
18.01.2017Wells FargoCo HoldArgus Research Company
11.01.2017Wells FargoCo NeutralUBS AG
DatumRatingAnalyst
10.07.2019Wells FargoCo UnderperformWolfe Research
05.02.2018Wells FargoCo UnderperformRBC Capital Markets
15.09.2016Wells FargoCo SellUBS AG
24.03.2016Wells FargoCo SellUBS AG
13.02.2015Wells FargoCo UnderperformBMO Capital Markets

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