Credit card points are a form of currency, so you can tie a specific cash value to your points based on how you redeem them. While that value will change, there are a few things you should know about maximizing redemptions and analyzing options to see if you’re getting a good value.
Wells Fargo’s points differ slightly from those of competitors like Capital One, Chase, or American Express. For most redemption methods, you’ll get a fixed value of 1 cent per point. However, you can potentially get double or triple that value by leveraging transfer partners. Here’s everything to know about how much Wells Fargo rewards are worth.
The value of Wells Fargo points when booking using the Wells Fargo travel portal
When you book travel through the Wells Fargo travel portal, you receive a fixed value of 1 cent per point. This makes it incredibly easy to determine how many points you’ll need for a flight, hotel, or car rental: A $250 flight requires 25,000 points, and a $500 hotel stay requires 50,000 points.
There are a few trade-offs to consider before booking through the travel portal. First, credit card travel portals are similar to any other third-party booking platform. That means you might have difficulty applying elite status benefits to your reservation, and changing your booking can be a nightmare.
Don’t avoid booking through the portal altogether, but proceed with caution. In my experience, when I’ve needed to change or cancel a flight booked through a credit card’s travel portal, I’ve typically forfeited the money (unless I paid extra for a refundable reservation).
On the other hand, booking through the travel portal is a straightforward way to use your points. Wells Fargo cards don’t offer statement credits or a bump in value when redeeming through the travel portal, so you don’t have to worry about that. You can simply search for a flight or hotel and apply your rewards without hesitation.
The value of Wells Fargo points when transferring to a partner
When you transfer your rewards to a travel partner, you can typically receive outsized value from your points. While this option is more complicated than booking through the travel portal, it’s worth looking into.
You can transfer Wells Fargo points to six airline partners at a 1:1 ratio:
- Aer Lingus AerClub
- Air France-KLM Flying Blue
- Avianca LifeMiles
- The British Airways Club
- Iberia Club
- Virgin Atlantic Flying Club
- Virgin Red
You can transfer Wells Fargo points to one hotel partner at a 1:2 ratio:
If you’re looking for the most value out of your Wells Fargo points, transfer partners will be your best friend.
For example, you can fly from Boston (BOS) to Los Angeles (LAX) in business class on American Airlines in October for $1,136 one-way. Instead, you can transfer 50,000 points to The British Airways Club and just pay $94 in taxes and fees. Since British Airways and American Airlines are both members of the Oneworld Alliance, you can access more flights than you realize with just a few transfer partners.
In this scenario, you’d get a value of almost 2.1 cents per point — more than double the value of what you’d get if you booked through the travel portal.
When it’s time to book your hotel, you only have one transfer option: Choice Privileges. Luckily, you can take advantage of a fantastic transfer ratio to stretch your points a little farther. You can book a Signature Double Double room at the Westgate Las Vegas Resort and Casino for 30,000 Choice Privileges points per night in October, or pay a $295 a night cash rate. Since points transfer from Wells Fargo at a 1:2 ratio, you can transfer just 15,000 points to cover your stay, giving you a valuation of just under 2 cents per point.
What can you get with your Wells Fargo Rewards?
Most other redemption options outside of transfer partners receive a fixed value of 1 cent per point, just like travel booked through the portal. In addition to travel, you can redeem your points in several ways, including:
- Cash/statement credits
- Gift cards
- Charitable donations
- Pay with Rewards
You can redeem your rewards as a credit to your account, including eligible checking, savings, mortgage, and loan accounts. You can also choose to redeem your points in the form of a paper check, available in increments of $25, or withdraw cash from an ATM, available in increments of $20. Each option has the same value of 1 cent per point. You can only redeem cash from an ATM if you have a Wells Fargo debit or ATM card.
Similarly, you can redeem rewards for eligible past purchases of $1 or more at the same rate. If you want to use your points for travel but want to book directly with the airline or hotel, you can pay with your card and then use your rewards to cover that purchase. This way, you don’t have to worry about issues with your reservation being booked through the travel portal.
While transfer partners generally give you the best value for your points, don’t rely on them entirely.
For instance, 25,000 Wells Fargo points might get you a $260 first-class flight from Atlanta (ATL) to Newark (EWR) on Delta in October. After factoring in the taxes and fees, you’re getting a value of less than a cent per point, so that’s not a good redemption.
point.me allows you to search through tons of redemption options so you can find the best value for your points.
The best use of your Wells Fargo points
- Transfers to travel partners
- Redeem for purchases
The worst use of your Wells Fargo points
- Travel portal bookings
Frequently asked questions about Wells Fargo points
10,000 Wells Fargo points are worth $100 when redeemed for statement credits or at an ATM.
If you’d rather travel, you could book a quick flight from Miami (MIA) to Medellin (MDE) for approximately 8,000 Wells Fargo points transferred to Avianca Lifemiles, plus $48.50 in taxes and fees.
30,000 Wells Fargo points are worth around $300 or more, depending on how you use them. For just over 35,000 Wells Fargo points, you can get a one-way ticket from Los Angeles (LAX) to Seoul, South Korea (ICN). You would need to transfer your points to Air France-KLM Flying Blue to book this flight, operated by Korean Air, and pay just $34 in taxes and fees. The cash fare is $816, giving you a valuation of 2.2 cents per point.
50,000 Wells Fargo points are worth $500 or more. You could purchase two one-way economy tickets from Detroit (DTW) to Paris (CDG) this October for 50,000 Wells Fargo points, plus $66 in taxes and fees. Simply transfer your points to Air France-KLM Flying Blue to complete the redemption. The same flights would cost $1,102 in cash, giving you a valuation of 2 cents per point.
75,000 Wells Fargo points are worth $750 when redeemed towards travel purchases, or more when transferred to a travel partner. In February, you could fly from Mexico City (MEX) to Milan (MXP) with a layover in Madrid (MAD) in business class for just 67,000 Avios when booked through Iberia Club. The cash fare is $2,892, so even though you have to pay $212.81 in taxes and fees for the award redemption, you get a valuation of almost 4 cents per point.
100,000 Wells Fargo points are worth $1,000 toward qualifying purchases, though they can be worth more when transferred to an airline partner. For 104,250 Wells Fargo points, you can fly business class from Chicago (ORD) to Marrakech, Morocco (RAK) with a layover in London (LHR) in February. You’d transfer your points to The British Airways Club and pay $400 in taxes and fees. The retail price is $6,363, so you’re getting a valuation of 5.7 cents per point, which is fantastic.
The number of Wells Fargo points needed for a free flight will depend on the fare class and distance flown. For example, a quick flight in October from Washington, D.C. (IAD) to Atlanta (ATL) might cost just 7,000 Wells Fargo points if you transfer to Air France-KLM Flying Blue, plus $18 in taxes and fees.
On the other hand, a 25-hour journey in January from San Francisco (SFO) to Bangkok (BKK) with a layover in Paris (CDG) might cost 44,500 Wells Fargo points, plus $216 in taxes and fees, when booked through Flying Blue.
A business-class flight to Europe might cost anywhere from 50,000 points to more than 150,000 points, depending on the airline, time of year, transfer bonuses, availability, and other factors. You can fly from Newark (EWR) to Athens (ATH) with a layover in London (LHR) for 104,250 points transferred to The British Airways Club. You’ll also need to pay $400 in taxes and fees, but with a retail price of $3,200, you’re getting a decent deal.
Wells Fargo rewards do not expire as long as your account remains open and in good standing.
Summary
If you know how to use them, Wells Fargo points can be very valuable. While most redemption methods yield the standard 1 cent per point valuation, you can unlock much better redemptions by transferring your points to travel partners. Be sure to check point.me before your next flight for all of the best ways to use your Wells Fargo points.
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