There’s a whole lot of pleasure inside the journey rewards panorama on the thought of a brand new rewards bank card, new switch companions and the thought of a new-to-everyone welcome provide. And for the previous couple of weeks, Wells Fargo and its Autograph card portfolio have been on the middle of a few of that hypothesis.
We love rumor as a lot as the subsequent particular person, however since hypothesis alone does not fund reward journeys, we received on the cellphone with our contact at Wells Fargo to parse out truth from fiction about precisely what’s coming subsequent.
Whereas we nonetheless haven’t got all the small print, here is the whole lot it is advisable know (for now) about what’s coming.
New Wells Fargo card launching in 2024
TPG was in a position to affirm that Autograph Journey is the brand new Wells Fargo bank card coming in 2024. This card will be part of the prevailing Wells Fargo Autograph℠ Card, which launched in 2022 and affords a stable worth proposition for a card with no annual price (see rates and fees) — together with a welcome offer of 30,000 bonus points once you spend $1,500 or extra in purchases within the first three months from account opening.
The brand new Autograph Journey Visa card will most probably have an annual price, although specifics round that aren’t but 100% confirmed.
Whereas the prevailing points-earning construction of the Autograph Journey was not but out there, Wells Fargo did affirm that the points-earning construction at launch will likely be extra profitable than that of the prevailing Autograph card, which awards 3 factors per greenback within the following classes:
- Restaurant purchases — together with eating in, takeout, catering and supply
- Journey — together with airfare, motels, automotive leases and cruises
- Fuel — together with gas at gasoline stations and electrical charging purchases
- Transit — together with subways, ride-hailing providers, parking and tolls
- In style streaming providers
- Telephone plans with cellphone and landline suppliers
Moreover, TPG was informed that any hypothesis concerning the welcome provide for the brand new Autograph Journey card at launch is simply that — hypothesis. Such particulars are nonetheless beneath growth and never finalized.
Switch companions are coming to Wells Fargo
Along with an all-new card, TPG has confirmed that Wells Fargo will launch switch companions in its Autograph portfolio. Nonetheless, not like some experiences, that will not be this yr.
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The precise timing of when switch companions will come to the prevailing Autograph card (in addition to the brand new Autograph Journey card) in 2024 is just not but out there, neither is the record of switch companions. Nonetheless, this redemption choice will likely be out there on the comparatively near-term horizon for the Autograph portfolio and, as such, will seemingly symbolize a serious increase to the issuer’s clients.
At the moment, the Wells Fargo Autograph Card is a fixed-value product, because the factors you earn could be redeemed at a price of 1 cent apiece — for a press release credit score or present card (in $25 increments) or to ebook journey. Nonetheless, since transferable rewards programs usually provide added flexibility and enhanced worth by means of particular person candy spots, this has the potential to be a really optimistic growth.
For now, that implies that only one Wells Fargo card — the Bilt Mastercard® (see rates and fees) — affords transfers to pick airline and lodge loyalty packages.
Associated: Your complete guide to the Bilt Rewards program
Extra to come back from Wells Fargo in 2024
If an all-new bank card and a brand new transferable factors foreign money aren’t sufficient to spark some curiosity, it is also price mentioning that TPG was informed that Autograph Journey is only one of a number of new merchandise coming to Wells Fargo in 2024.
For years, the rewards bank card recreation was largely dominated by Chase and American Express. And whereas they’re nonetheless juggernauts within the area, and rightfully so, competitors is an efficient factor for points-earning shoppers.
The Bilt Mastercard is a superb instance of how an all-new card and loyalty program can come on the scene, make a distinction within the panorama and shake up the wallets of those that have been at this for a very long time. And it looks like Wells Fargo is primed for much more disruption in 2024.
Backside line
There’s been rampant hypothesis in current weeks a couple of shake-up to Wells Fargo’s card portfolio, and whereas we nonetheless haven’t got the entire particulars, we are able to affirm a number of thrilling modifications are on the best way in 2024. We all know that switch companions are coming to the Autograph Card, and there’ll certainly be at the least one new card within the portfolio: the Autograph Journey.
Whereas Wells Fargo hasn’t all the time been prime of thoughts relating to the journey rewards card panorama, the previous does not predict the longer term, and we’re excited for what subsequent yr will convey for our readers.
Keep tuned to TPG, as we’ll have full particulars on the launch of those modifications as quickly as they’re out there.
See Bilt Mastercard charges and costs here.
See Bilt Mastercard rewards and advantages here.
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