Good afternoon everyone, I hope your week is going well. Earlier this month, the $175 annual fee posted to my Wells Fargo Propel World American Express Credit Card. I made sure to max out the $50 statement credit from the Small Business AMEX Offer and used up the $100 airline reimbursement. I was hoping to downgrade my credit card to the no annual fee Wells Fargo Propel American Express, but when I called Wells Fargo, I was told that the department that handles product changes is closed temporarily due to the Coronavirus Pandemic.
Since I couldn’t product change to a no annual fee and I didn’t want to pay the $175 annual fee, I asked the rep to close my account. During the closure process, the rep said I had 365 Wells Fargo Go Far Rewards Points in my account and asked me if I wanted to redeem the points for purchases before they closed the account. In this post, I will show you how to redeem your Wells Fargo Go Far Rewards Points to pay for purchases. Sign into your Wells Fargo online account and click on your credit card, not your Go Far Rewards account.
Scroll down to the Activity section and click the Redeem for Purchases link.
The Redeem for Purchases page will show you how many Go Far Rewards Points you have and show you the last several purchases you made on your credit card. Go Far Rewards Points are worth 1 cent each and can only be redeemed for purchases that are less than or equal to your Go Far Rewards Point balance. You can not make partial redemptions. As you can see, I have 365 Go Far Rewards Points and can only redeem for purchases that cost $3.65 or less.
I decided to make a $3.65 payment to my eBay seller fees with my credit card. I could have done a $3.65 Amazon GC balance reload or paid $3.65 toward my Comcast bill, if I wanted to instead. After the $3.65 purchase posted to my credit card, I went to the Activity section and clicked the Redeem for Purchases link.
Now I was able to redeem my 365 Go Far Rewards Points for a $3.65 purchase.
I checked the box for the $3.65 purchase and clicked the Submit button.
I reviewed the terms and conditions, checked the box and clicked the Redeem button. As you can see from the terms and conditions, you can only redeem for purchases that cost at least $1.00, so if you have less than 100 Go Far Rewards Points, you cannot use this feature. Statement credits usually post within 5-7 days, but may take up to 2 statement periods.
After I clicked the Redeem button, I went to the confirmation page.
A minute later, I received a confirmation email with details about my redemption.
2 days later, I logged into my Wells Fargo online account and noticed that my credit card balance went back down to $175.00 and my Go Far Rewards balance showed 0 points.
I looked at my account and saw the $3.65 statement credit posted to my account.
I went through the Go Far Rewards portal and viewed my recent activity.
Last but not least, I called Wells Fargo to close my credit card. I confirmed again that the product change department was still closed (probably won’t open for several weeks / months, in my opinion). My credit card account is now closed and I expect the credit card account and Go Far Rewards account to disappear after a few days / weeks / months.
If you have any questions about redeeming Go Far Rewards Points to pay for purchases, please leave a comment below. Have a great day everyone!