Wells Fargo has announced that starting December 4, 2021 it will no longer be possible to designate an account as a Rewards Pool. You will continue to be able to contribute to an existing pools. I suspect at some stage points pooling will be discontinued entirely.
Hat tip to Andrew M
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Here's an example of the use of the pool. I have the Visa Signature and my wife has the Propel. A couple of years ago I set up a pool in my account so we could transfer her points to my account. If I recall correctly, I had to assign a reason to the pool, which in our case was travel. I used up the points in the pool for flights booked through the WF portal at 1.5 cents per point. A long while later, I got a message that the pool (now empty) would be closed.
I have the same situation as Gerald: 2-player mode where one player had Propel and the other had Visa Signature in order to earn 4.5 cents back on Propel bonus categories. Now that pooling has ended (and sharing too? the sharing tab is gone!), our 2-player mode was broken with the Propel points earning a max value of 1 cent per point. However, there is a workaround with a Business Platinum card, which I got talked into at the branch because they were offering me a 30K bonus with no credit pull (and they were offering $1500 for opening a business checking account). You can still transfer points between Business and Consumer cards. So the points will go from Propel -> Business -> Visa Signature to still get 4.5c of value. A nice benefit of the Business is that it earns 2x on the first $1K spent per month (i.e. 3c of value). Nice value still in these low traffic programs that haven't been talked to death by the bloggers.
FYI you don't need to transfer from your Biz Plat to your Visa Sig to get 1.5 cpp value because the Biz Plat gets the same 1.5 cpp redemption benefit on flights via the travel portal.
Fewer and fewer reasons to keep any WF accounts open
Where's Jordan?
On the east bank of the Jordan River
I don't have any Go Far Rewards purse say so this doesn't effect me, but instead here's a tasteful inb4 joke about Well's Fargo opening unauthorized accounts for everyone outraged about it's existence
My wife and I have two separate WF Credit cards. I never designated either one as a Rewards Pool, but I did give points from one card to another to meet the minimum $25 required for redemption. I wonder if WF is stopping that.
delete pls
I have both visa sig. (P2) and propel and don't think I ever used rewards pool. there's a "gift rewards to others" options for transferring points directly and looks like that is not affected.
Chase, don’t get any ideas!
Oof.
Can someone please let me know if the active cash + visa sig combo works right now? I am thinking of applying for the active cash before this
This combo works. I now have two different GoFar Rewards “balances” listed when I login. One shows the points from my Propel and Signature cards and the other shows the $ from my Active Cash card. I was able to transfer the $ in the Active Cash balance to points in the other account (1 cent = 1 point).
Is points pooling for different people or different products? I guess this means no more Visa Signature 1.5cpp redemptions with 5x or the new 2x earnings.
It is for both I think.
What's a rewards pool. I wanna know how I'll be effected as a wells Fargo customer
If you don't know what one is, then it going away won't affect you.
I also want to know. It could be something that we are not taking advantage of.
Here is what I found:
You can pool your points across all cards that earn go far rewards
You can pool the points from multiple card holders and they don't need to be in the same household or related at all.
https://www.cardratings.com/wells-fargo-go-far-rewards.html