Credit Card Guide
  CREDIT CARD BLOG
Follow Us  twitter facebook You Tube Google+
 
Credit Cards > Charge-it Blog > Archives > Cash Back > Wells Fargo Expands Home Loan Credit Card Rewards



 
 

Wells Fargo Expands Home Loan Credit Card Rewards

  By Steven Gibbs November 10, 2009

SHARE

Wells Fargo Cash Back Credit CardAs homeowners are trying harder than ever to pay down debt and save, it looks like one credit card issuer wants to help out in the best way it knows how. That issuer is Wells Fargo, and it was recently announced that they will be expanding its Wells Fargo Cash Back Card program to give cardholders the ability to pay on their home equity loan principal by simply using their credit card.

 

So how does it work? Under this program all eligible purchases made with either the cash back card or Wells Fargo Home Rebate Card earns cardholders a 1 percent rebate which goes toward the mortgage’s principal. This rebate is then applied in $25 increments and has no cap on the amount of rebates cardholders can earn.

 

For Wells Fargo, cardholders using rewards they have accrued to go toward their principal on their home mortgage loan is nothing new. In fact since 2007, when their Home Rebate Card was first introduced, more than $10 million has been applied to home loans. This recent expansion however is something new as they look to capitalize on the growing amount of cardholders who now have home equity lines of credit, which have skyrocketed due to historically low interest rates. 

 

What is your opinion on a credit card that puts cash back earned toward your mortgage?


Share 
 
     

 
  If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the ‘Post to Facebook’ box selected, your comment will be published to your Facebook profile in addition to the space below.

Our editorial content is not sponsored by any bank or credit card issuer. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.
 
     


 
Secure SSL Technology
Secure SSL
Technology
 
Twitter Facebook You Tube Google+
About Us Privacy Policy Editorial Team Terms of Use
Contact Us California Privacy Rights Media Relations Site Map