Issuer Comparison: Chase vs. Wells Fargo

If you’re trying to decide between Chase and Wells Fargo credit cards, there are more factors to consider than meets the eye. You’ll want to take a close look at the cardholder benefits you can qualify for, yet you should also consider the footprint of the bank you’re considering. Meanwhile, you’ll want to compare the rewards credit cards each of these card issuers offers, as well as how easy they make it to be approved.

When it comes to comparing Chase to Wells Fargo as your future card issuer, it’s best to consider each brand as a whole rather than just llimited-time credit card offers that can (and do!) frequently change.

This guide aims to help you do just that. When looking at Chase and Wells Fargo, here’s everything you’ll need to know.

Chase: Details and benefits

Chase has more than 4,700 brick-and-mortar bank branches, as well as over 15,000 ATMs nationwide. On the credit card front, Chase boasts almost 40 different rewards credit cards for individuals and businesses. Some of its cards are offered through its own loyalty program, which is known as Chase Ultimate Rewards; however, Chase also offers co-branded credit cards with airline and hotel programs like Southwest Rapid Rewards, World of Hyatt, Marriott Bonvoy, British Airways and more.

Note that, unlike some other credit card issuers, Chase does not offer any secured credit cards. Other than the Chase Freedom Rise® Credit Card* that’s geared toward individuals who need to build credit, all Chase credit cards are geared toward people with good or excellent credit.

Wells Fargo: Details and benefits

Currently, Wells Fargo boasts more than 5,600 retail banking branches nationwide. It also has a network of more than 11,000 ATMs.

In terms of its credit card offerings, Wells Fargo currently offers 10 personal credit cards and one business credit card. Unlike Chase, however, Wells Fargo doesn’t offer any premium travel credit cards with high annual fees. It does offer cards that let you earn travel rewards and transfer points to airline and hotel programs, as well as cash back credit cards.

Wells Fargo also, like Chase, lacks a secured credit card, nor does it offer any credit cards geared toward people building credit. For the most part, you’ll need good credit or better to qualify for a credit card from Wells Fargo.

Chase vs. Wells Fargo: At a glance

Chase vs. Wells Fargo credit card rewards programs

One major factor to consider when picking a credit card is the type of rewards you’ll earn. This is a huge consideration when comparing Wells Fargo vs. Chase since the two rewards programs are vastly different.

As you compare credit cards from these two issuers, here are the main details you should know about their rewards programs.

Chase Ultimate Rewards

Once you begin earning points in the Chase Ultimate Rewards program, you can redeem them for travel through Chase Travel^SM (the issuer’s portal) or for cash back, gift cards, merchandise with Amazon or Apple and more. Your points will never expire provided you keep your account open.

Also, know that some Chase travel credit cards come with exceptional redemption options on the travel front. For example, the Chase Sapphire Reserve^® gives you 50 percent more value for your points when you redeem for travel through Chase’s portal, and the Chase Sapphire Preferred^® Card and Ink Business Preferred® Credit Card give you 25 percent more value. With the Chase Travel portal, you can use your rewards to book flights, hotels, vacation rentals, car rentals and other types of travel.

Each of these travel cards also lets you transfer your points to Chase airline and hotel partners at a 1:1 ratio. Current Chase transfer partners include:

Airline partners

• Aer Lingus
• Air Canada Aeroplan
• Air France / Flying Blue
• British Airways
• Emirates
• Iberia Plus
• JetBlue
• Singapore Airlines KrisFlyer
• Southwest Rapid Rewards
• United MileagePlus
• Virgin Atlantic

Hotel partners

• IHG Rewards Club
• Marriott Bonvoy
• World of Hyatt

Generally speaking, Chase Ultimate Rewards points are worth around 2.0 cents each when transferred to a high-value partner, according to our latest points and miles valuations.

Wells Fargo Rewards

How you can redeem your rewards depends on the Wells Fargo credit card you have. Many of the brand’s cards let you redeem for travel options like hotel stays, flights and rental cars. You can also redeem your rewards for gift cards, merchandise or PayPal purchases with most card options.

The card issuer also changed things up when it introduced the Wells Fargo Autograph Journey℠ Card in early 2024. This card was designed for frequent travelers, and it makes it possible for Wells Fargo customers to transfer their rewards to a range of new travel partners.

Current airline and hotel partners available with Wells Fargo include:

• Choice Privileges®
• Air France‑KLM Flying Blue
• Avianca lifemiles
• British Airways Executive Club
• Aer Lingus AerClub
• Iberia Plus
• Virgin Atlantic Flying Club/Virgin Red

Note that the introduction of the Autograph Journey℠ Card also unlocked the option for point transfers with the no-annual-fee Wells Fargo Autograph℠ Card from the issuer. Wells Fargo also says that “more partners will continue to be added throughout the year.”

We estimate Wells Fargo Rewards points are worth around 1.0 cents each with a high-value transfer partner, but the value you get will vary based on how you redeem them. If you sign up for the popular Wells Fargo Active Cash® Credit Card, for example, your cash back “points” are worth 1 cent each.

Popular credit cards from each issuer

The chart below highlights some of the most popular credit cards from this issuer based on the type of rewards they offer.

Chase vs. Wells Fargo approval restrictions

When it comes to Chase credit cards, you have to consider the Chase 5/24 rule. This rule states that applicants who have opened five or more cards with any issuer within the past 24 months won’t be approved for a Chase credit card.

Also, be aware that some Chase credit card “families” limit how often you can earn certain bonus offers and how many “members” of the family you can have at one time, and these rules apply on top of the Chase 5/24 rule. For example, you can only have one Sapphire card at a time. The fine print for the Sapphire cards reads:

“The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.”

Like Chase, Wells Fargo has some rules that can limit who can be approved and earn the bonus on rewards credit cards. For example, fine print for the Active Cash card states:

“You may not be eligible for introductory annual percentage rates, fees and/or rewards bonus offers if you have a Wells Fargo Active Cash Visa® or opened one within the last 48 months from the date of this application – even if that account is closed and has a $0 balance.”

When is Chase better?

While both issuers offer a range of popular credit cards, there are scenarios where you’ll be better off with a credit card from Chase.

You prefer Chase transfer partners

If you want access to more airline and hotel partners overall, you’ll want to go with a travel credit card from Chase. After all, eligible cards offer a total of 14 different airline and hotel partners, including popular options like Southwest Rapid Rewards, United MileagePlus and World of Hyatt.

You plan to book airfare and hotels through Chase Travel

If you plan to book travel through the Chase Travel portal, that’s another reason to go with a Chase travel credit card. This is mainly due to the rewards value boosts you can enjoy. Specifically, the Chase Sapphire Reserve gives you 50 percent more value for rewards when you redeem for travel through Chase, and the Chase Sapphire Preferred and Ink Business Preferred® Credit Card give you 25 percent more value.

Having a broad selection of card options is important to you

Chase also offers more credit cards in total to choose from, including a much broader range of cash back credit cards, travel credit cards and hotel credit cards. In fact, Chase offers almost 40 credit cards for consumers and small businesses.

Chase also offers airline credit cards with brands like Southwest, Air Canada and United.

When is Wells Fargo better?

When do Wells Fargo credit cards make more sense? Consider signing up for one of the bank’s credit cards if any of the following applies.

You want 2% cash back credit card

If you want a flat-rate cash rewards credit card that earns 2 percent cash rewards on every purchase, the Wells Fargo Active Cash Credit Card is your best option. Not only does this card offer 2 percent cash rewards on all spending with no annual fee, but new cardholders qualify for a $200 cash rewards bonus after spending $500 on purchases within three months of account opening.

Chase offers cash back credit cards with generous rewards structures, but it doesn’t offer a flat-rate 2 percent cash rewards card.

You like Wells Fargo transfer partners

Wells Fargo offers some transfer partners Chase doesn’t, including Choice Privileges and Avianca lifemiles. If these are partners you want to utilize, signing up for the Autograph Card or the Autograph Journey Card can make a lot of sense.

You like the brand’s card options

Wells Fargo also offers some interesting cash back credit cards that are unique in the way they dole out rewards. The Wells Fargo Autograph Card is a good example since it comes with a $0 annual fee and earns 3X points on restaurants, travel, gas, transit, popular streaming services and phone plans, plus 1X points on other purchases.

Meanwhile, the Wells Fargo Reflect Card is typically listed as one of the best balance transfer credit cards on the market today. After all, it comes with a $0 annual fee and offers 0 percent intro APR on purchases and balance transfers for 21 months (followed by a variable APR of 17.49 percent, 23.99 percent or 29.24 percent).

The bottom line

Don’t forget to do a your research before applying for a Chase credit card or a Wells Fargo credit card. Even with the basic information we’ve shared, the plethora of cards each issuer offers makes it necessary to compare all your options.

Ideally, a minimal amount of research can help you land the ideal rewards credit card for your needs and goals. Will it be Wells Fargo or Chase in the end? Only you can decide.

The information about the Chase Freedom Rise® Credit Card, Chase Freedom Flex®, Wells Fargo Attune℠ Card, Signify Business Cash℠ Card, World of Hyatt Credit Card, IHG One Rewards Premier Credit Card, Aeroplan® Card, British Airways Visa Signature® Credit Card and Slate Edge® credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.