Truth vs. fiction: Wells Fargo confirms new Autograph Journey card and forthcoming switch companions
There’s numerous pleasure throughout the journey rewards panorama on the concept of a brand new rewards bank card, new switch companions and the concept of a new-to-everyone welcome supply. And for the previous few weeks, Wells Fargo and its Autograph card portfolio have been on the heart of a few of that hypothesis.
We love an excellent rumor as a lot as the subsequent particular person, however since hypothesis alone does not fund reward journeys, we bought on the telephone with our contact at Wells Fargo to parse out reality from fiction about precisely what’s coming subsequent.
Whereas we nonetheless haven’t got all the main points, here is every part it is advisable know (for now) about what’s coming.
New Wells Fargo card launching in 2024
TPG was capable of verify 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 strong worth proposition for a card with no annual charge (see charges and costs) — together with a welcome supply of 30,000 bonus factors whenever you spend $1,500 or extra in purchases within the first three months from account opening.
The brand new Autograph Journey Visa card will almost certainly have an annual charge, although specifics round that aren’t but 100% confirmed.
Whereas the prevailing points-earning construction of the Autograph Journey was not but obtainable, Wells Fargo did verify that the points-earning construction at launch can 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, inns, automobile leases and cruises
- Gasoline — together with gas at gasoline stations and electrical charging purchases
- Transit — together with subways, ride-hailing companies, parking and tolls
- Well-liked streaming companies
- Cellphone plans with cellphone and landline suppliers
Moreover, TPG was informed that any hypothesis in regards to the welcome supply for the brand new Autograph Journey card at launch is simply that — hypothesis. Such particulars are nonetheless underneath improvement 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, in contrast to some stories, 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 obtainable, neither is the listing of switch companions. Nonetheless, this redemption possibility can be obtainable on the comparatively near-term horizon for the Autograph portfolio and, as such, will possible signify a serious enhance to the issuer’s clients.
For now, that signifies that only one Wells Fargo card — the Bilt Mastercard® (see charges and costs) — affords transfers to pick airline and resort loyalty applications.
Associated: Your full information 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 value 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 Specific. And whereas they’re nonetheless juggernauts within the house, and rightfully so, competitors is an efficient factor for points-earning shoppers.
The Bilt Mastercard is a good 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 as if Wells Fargo is primed for much more disruption in 2024.
Backside line
There’s been rampant hypothesis in current weeks a few shake-up to Wells Fargo’s card portfolio, and whereas we nonetheless haven’t got the entire particulars, we are able to verify 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 no less than one new card within the portfolio: the Autograph Journey.
Whereas Wells Fargo hasn’t at all times been prime of thoughts in relation to the journey rewards card panorama, the previous does not predict the long run, and we’re excited for what subsequent yr will carry for our readers.
Keep tuned to TPG, as we’ll have full particulars on the launch of those modifications as quickly as they’re obtainable.
See Bilt Mastercard charges and costs right here.
See Bilt Mastercard rewards and advantages right here.
