Wells Fargo has introduced a new travel credit card, the Wells Fargo Autograph℠ Card. It offers useful reward categories like gas stations and restaurants, along with a sign-up bonus that’s large for a card with an annual fee of $0.
As travel picks up again after the COVID-19 pandemic, the Visa card could be a hit with consumers dissuaded by other high-priced travel credit cards with complicated rewards systems. According to the bank, the card will be available for applications in mid-July.
Details of the Wells Fargo Autograph℠ Card
Sign-up bonus: New cardholders can also earn 30,000 bonus rewards points when they spend $1,500 in purchases in the first 3 months.
Rewards: Unlimited 3 points per dollar spent on:
Popular streaming services.
Plus, 1 point per dollar spent on all other purchases.
APR offer: 0% intro APR for the first 12 months from account opening on purchases, 16.49%, 21.49% or 26.49% variable APR thereafter.
Rewards redemption: Cardholders can redeem points for travel, gift cards or statement credits — or when checking out online with PayPal. Generally, points are worth 1 cent each.
Wells Fargo said rewards on the Wells Fargo Autograph℠ Card were specifically designed to be simple. Some travel credit cards are complicated and can be offputting to some cardholders. The bank pointed to the absence of reward caps and the card’s stable bonus-rewards categories — as opposed to categories that can change — as ways it kept the Wells Fargo Autograph℠ Card simpler.
Among the card’s benefits:
Cell phone protection. Get reimbursed up to $600 per claim for the cost of repair or replacement after your phone is damaged or stolen. You must pay your monthly cell phone bill with the Wells Fargo Autograph℠ Card.
No foreign exchange fee. This is common on travel cards, and the Wells Fargo Autograph℠ Card also offers it despite charging no annual fee.
Retail offers. Cardholders will have access to My Wells Fargo Deals — a merchant-funded platform that offers cash back in the form of a statement credit when shopping, dining or enjoying an experience. You must activate the deal first.
However, compared with other travel credit cards, the Wells Fargo Autograph℠ Card offers no airline or hotel transfer partners for your rewards. You also get no reimbursement for a Global Entry or TSA PreCheck application fee, a common extra on travel cards.
What about cardholders of the Wells Fargo Propel American Express® card?
Wells Fargo says Wells Fargo Propel American Express® card cardholders will not be automatically switched to the Wells Fargo Autograph℠ Card, despite similarities in the cards. However, they are free to switch to it in what the industry calls a product change.
Wells Fargo’s new lineup
“Our customers told us they tend to focus on three core areas when it comes to their credit card preferences: cash back, value and rewards,” said Krista Phillips, executive vice president and head of Branded Cards and Marketing for Wells Fargo Credit Cards.