Wells Fargo has launched a credit card that lets consumers earn rebates on their home mortgage.
The Wells Fargo Home Rebate card gives 1% back on all purchases made with the card. The rebates are applied, in $25 increments, to the principal on the cardholder’s Wells Fargo mortgage.
The bank begins marketing the new credit card this week as part of its Spring Into Action campaign for Wells Fargo’s home-financing services. In-store merchandising touts the Home Rebate card in Wells Fargo’s 6,000 retail outlets.
“Our pilot program showed us that our mortgage customers understand that with this card their day-to-day spending is better managed, better protected and better rewarded,” said Peter Ho, Wells Fargo’s product manager for the card, in a statement
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