If you’re going to go mobile payments, then really do it. That seems to be the approach of Wells Fargo, which is paying credit card customers $20 to sign up for Apple Pay. Debit and prepaid customers will only get $10 to sign up and will have to wait 45 days to get the money, Finextra reported.
“Use your iPhone 6 to make an Apple Pay purchase with your Wells Fargo Credit Card by November 30, 2014, and you’ll earn a $20 statement credit,” Wells Fargo said in its promotion.
Even the ad acknowledged that only some Wells Fargo cards will even work with Apple Pay. “Apple Pay will work with most of our consumer and small business cards including Wells Fargo Visa Credit, Debit, and Prepaid Cards; Wells Fargo MasterCard Credit Cards; and with our new Wells Fargo Propel American Express Credit Cards. Business MasterCard Credit Cards are not eligible. Business Visa Credit Cards will be Apple Pay ready in November, 2014.”
The money “will be applied as a statement credit to your Wells Fargo Credit Card account within 1 – 2 billing periods following your qualifying Apple Pay purchase. To qualify for this promotional offer, your Wells Fargo Credit Card account must be open, not delinquent, and not in default at the time of fulfillment,” the ad said.