As we move forward with the integration, one of the biggest tasks our companies are working on is making certain Wachovia and Wells Fargo programs more similar to each other.
Well, Wachovia credit cards are doing just that. As of August 1, the Wachovia Possibilities Rewards® Program has adjusted all its point levels.
Now if you're a rewards junkie like me, you might worry that you may not be able to continue getting the rewards you want toward merchandise, travel and the like. Well, these changes do not have to do with the kind of rewards — no, we're simply adjusting the reward point and redemption calculations to be more in line with Wells Fargo credit cards.
Basically, the redemption items and your existing point balance will be divided by four, giving your existing points the same buying power. Future earning rates will also change.
Here's an example for Visa Platinum Card purchases totaling $1375:
BEFORE AUGUST 1ST |
|
Points earned |
Points needed for a $10 gift card |
5,500 |
5,500 |
AFTER AUGUST 1ST |
|
Points earned |
Points needed for a $10 gift card |
1,375 |
1,375 |
If you're a Wachovia Possibilities Rewards® credit card customer, you should have received a letter in July detailing the changes. For more information and the full rules, take a look at the program FAQs.
As always, we appreciate your comments, so please keep letting us know what you think!
Can't wait to make the switch to Wells Fargo's rewards program. Looks very similar but with some better reward options and cash back options! And since they offer the Earn More Mall, I assume that will continue too!
Also, please stop moving the Merger Information link on Wachovia.com. It's moved four times since December. Pick one place and leave it there. It would seem you would pick a bigger, more bold spot than were it is now. It would be simpler if I could just click on the "A Wells Fargo Company" banner and be linked to the merger info site too! Just an idea!
I hope the Earn More Mall is kept.
When Wachovia credit card accounts are converted to Wells Fargo cards, will customers have the option of keeping a points reward or switching to a cash back card at the time of conversion?
I agree with Jamison. I wish Wells Fargo would decide where to put the link to merger information on Wachovia's homepage. It moves all the time.
I thought it was in the perfect location about a week ago, when it was in a rectangle almost right in the middle of the page.
Only 1 point for every $4 spent with your debit card; how is that better than Wachovia, which gave 1 point for every $1? Seriously, who are you kidding that this program is better! A better description would be cheaper. I'm sure WF will be sneaking in its annual fee next. What an unfortunate outcome for Wachovia customers.
You do know that for the same amount of points in the old program, you got better prizes with Wells Fargo than with Wachovia, right?
For example: Under the old programs with 5,000 points, on Wells Fargo you got a $50 Gift Card and with Wachovia only a $10 gift card.
Let's be honest and compare apples to apples!
You're trying to make this sound good.
Old program: I spend $3, I get 3 points.
New program: I spend $3, I get NO POINTS.
You can round down on many purchases now... People are not stupid.
@Anonymous | August 9, 2009 2:58 PM. Thanks for your comment and sorry for the confusion. The bottom line is that program was divided by four - including points and the value of items in the redemption catalog. There is no change in value for the debit card going from 1pt = $1 to 1pt = $4.
@Anonymous | August 9, 2009 2:58 PM. Thanks for your comment. There seems to be some confusion about the point conversion. The good news is, the only change is that all values (point and reward) have been devided by four. A $50 retail gift card pre-conversion was 22,000 points. It's now 5,500 points.
@Anonymous | August 14, 2009 11:10 AM. Thanks for the comment. No need to worry about losing points. Rounding occurs to the nearest whole point. In this example, $3 of spend on the consumer debit card will be rouded up to 1 point.
I can't locate any of my
card numbers. I've called
several times and they told
they were all registered.
I cashed in one time and got
a debit card and spent it.
I would like to know how
many points I now have and
how can I look at the three
different accounts. Wachovia retiree