Wells Fargo Active Cash cash back rewards do not expire as long as your account is open and in good standing. You will forfeit any cash back rewards you have yet to redeem if you or Wells Fargo closes your Wells Fargo Active Cash account for any reason.
Similarly, Wells Fargo will not allow you to earn or redeem cash back rewards whenever you’re late making the minimum payment.
Wells Fargo rewards do not expire as long as the account is open and in good standing. You will forfeit any rewards you have yet to redeem if you or Wells Fargo closes your account for any reason.
Although Wells Fargo rewards don't expire until the account is closed, it's still a good idea to redeem your rewards as often as possible. Just bear in mind that Wells Fargo will not allow you to earn or redeem any rewards whenever you're late making the minimum payments.… read full answer
Wells Fargo points are worth 1.03 cents per point, on average. The value of Wells Fargo points depends on which Wells Fargo credit card you have and how you choose to redeem the points. For example, points from Wells Fargo are worth up to 1.13 cents each when redeemed for travel through the Wells Fargo Rewards program, and they are worth 1 cent each when redeemed for cash back. … read full answer
Tips for Maximizing the Value of Wells Fargo Points
Redeem Points for travel.
Wells Fargo points are worth the most when redeemed for travel.
Redeem Wells Fargo points regularly.
Wells Fargo points expire after 5 years they’re earned, so make sure to redeem yours more often than that.
Keep your account in good standing.
If Wells Fargo closes your account because of a failure to pay the bill or fraudulent activity, you’ll lose any unredeemed points you have saved. Similarly, if your account is open but delinquent, you won’t be able to earn or redeem points until you catch up on payments.
Redeem before closing your account.
Any points you don’t redeem before closing your account will be lost.
Exactly how you redeem credit card reward points varies by credit card company, but most credit card users can redeem reward points online through their account summary page. Some credit card issuers also let you redeem rewards over the phone. Credit card reward points may be redeemable for cash back, travel purchases, gift cards, and more, depending on the card.… read full answer
Once you redeem your credit card reward points, they’ll be subtracted from your rewards balance immediately and your account will be credited within 1-3 weeks, if applicable. In some cases, reward points will expire if you do not use them by a certain time.
Here's how to redeem credit card reward points:
Log in to your online account and head to “Account Summary.” Specifics will vary by issuer, but your rewards will usually be featured on a main account page.
Click on “Rewards Balance.” The exact wording may differ depending on the issuer. Once you click on your rewards balance, you’ll be taken to a page with your total amount of unredeemed rewards, and information about your redemption options.
Select how you’d like to redeem your rewards. You may be able to redeem reward points for travel purchases, cash back in the form of a check or statement credit, merchandise, or gift cards, depending on the rewards card.
Redeem your rewards. Once you redeem your credit card reward points, the points will be deducted from your rewards balance immediately. If you’re redeeming for statement credits or covering past purchases, your account will usually be credited within a week. If you redeem your points for gift cards or merchandise, you can expect them to arrive in the mail within 2-3 weeks.
While many rewards cards will let you choose from multiple redemption options, you’ll usually get the most value with one in particular. For example, travel rewards credit cards will often give you the most when you redeem your points for travel purchases, and your rewards may be worth less if you redeem them for cash back or gift cards.
On average, credit card reward points are worth 1 cent each. Most major credit card issuers, like Chase, Capital One and American Express, advertise that your points will not expire as long as your account remains open. But you should check the exact terms and conditions of your specific credit card to make sure you don’t lose any rewards you’ve earned.
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