Contract Renewal Brings New Benefits to AGS Members

By Wells Fargo Retail Services

The American Gem Society (AGS) recently extended its consumer financing contract with Wells Fargo for another five years. Wells Fargo will serve as the organization’s preferred financing provider through 2027, offering improved benefits to dealers participating in the American Gem Society credit card program.

Volume Rebates
As in the past, members offering the American Gem Society credit card program have the opportunity to earn a volume rebate each calendar quarter on their quarterly net charge volume.1 That has already translated into over $95,000 in rebates for 98 AGS members during the first quarter of 2022.

Members qualify for rebates each quarter based on their net charge volume for that quarter:

Quarterly Net Charge Volume1 Multiplier Example
$40,000 - $99,999.99
.0025
$40,000 net charge volume = $100 rebate
$100,000 – 199,999.99
.0050
$100,000 net charge volume = $500 rebate
$200,000 – 399,999.99
.0060
$200,000 net charge volume = $1,200 rebate
$400,000 or more
.0070
$400,000 net charge volume = $2,800 rebate

Earn More with Term Agreements
Under the new contract extension, AGS members can also qualify for higher quarterly rebates by signing a term agreement with Wells Fargo. Rebates are still based on net charge volume for the quarter,1 but members with a term agreement can take advantage of higher multipliers—which means bigger rebates:

Quarterly Net Charge Volume1 Multiplier Example
$40,000 - $99,999.99
.0045
$40,000 net charge volume = $180 rebate
$100,000 – 199,999.99
.0070
$100,000 net charge volume = $700 rebate
$200,000 – 399,999.99
.0080
$200,000 net charge volume = $1,600 rebate
$400,000 or more
.0090
$400,000 net charge volume = $3,600 rebate

A Strong Partnership
The American Gem Society and Wells Fargo are more committed than ever to promoting the AGS credit card program and marketing directly to AGS cardholders. Plus, members can take advantage of the program’s strong credit limits and attractive discount rates—both of which are very competitive among financing providers in the industry.

If you aren’t already offering the American Gem Society credit card program to your customers, now is the right time to sign up.

Questions?
If you have questions about the American Gem Society credit card program, please call Amanda Howe, the AGS credit card program representative at Wells Fargo, at 515.985.0155 or email her at Amanda.howe@wellsfargo.com.

1 Net charge volume is the total of all purchase volume posted to accounts minus any credits (other than payments) on accounts.