Wells Fargo Introduces New Rewards Credit Card

Rate this post
Wells Fargo Introduces New Rewards Credit Card

Wells Fargo today announced the debut of the Wells Fargo Autograph Credit Card, a new rewards credit card. The rewards credit card provides additional points on a variety of ordinary purchases, including certain recurring monthly payments. On July 13, fresh applications for the card will be accepted.

Key Takeaways

  • The Autograph Credit Card from Wells Fargo is a new rewards credit card.
  • The new card will provide 3 points per dollar spent in six distinct areas of daily expenditure, similar to what the now-defunct Wells Fargo Propel Credit Card offered before being cancelled last year.
  • New cards will also be eligible for a welcome bonus as well as an initial 0% APR incentive.

Wells Fargo Autograph Credit Card Details

Credit card issuers are competing for customer spending by giving more incentives and distinct bonus categories to differentiate themselves.

The new Wells Fargo Autograph Credit Card offers some of that, but it’s not the only card you’ll want in your wallet.

After spending $1,500 in the first three months as a new cardholder, you’ll get 30,000 bonus points worth $300. That’s really good for a card with no annual fee. Similar alternatives offer up to $200 in welcome incentives, making this one stand out. At the same time, the $1,500 spending minimum is twice or even triple that of comparable cards. Before you apply, be sure you can afford to spend at least $500 every month.

Cardholders will additionally get 3 points every dollar spent in the following categories:

  • Restaurants
  • Travel
  • Gas stations
  • Transit
  • Popular streaming services
  • Phone plans
  Federal Credit Union – FCU

It’s not unusual for a rewards credit card to provide you extra cash back, points, or miles in various categories, but it’s difficult to find one that gives you at least 3 points per dollar in this many areas of your budget. Furthermore, it is uncommon for a credit card to provide additional benefits on phone plans.

Keep in mind that all non-bonus spending receives just 1 point per dollar, so pairing this card with one that pays 1.5% or 2% back on all purchases may make sense. You may use your points from this card to pay for travel, gift cards, bill credits, or online shopping using PayPal.

The card also features a 12-month introductory 0% APR, but it only applies to purchases, not balance transfers. After the promotional time, your variable APR will be determined by your creditworthiness.

The card doesn’t have many perks, but if you use it to pay your phone bill, you’ll receive mobile phone protection worth up to $600 per claim (with a $25 deductible).

Is the New Wells Fargo Credit Card Right for You?

The Wells Fargo Autograph Credit Card is an excellent option for anybody looking for a card with no annual fee. The additional benefits for those categories are remarkable, and although the 0% APR deal isn’t the greatest available, it may be sufficient for your requirements.

The card’s basic rewards rate of 1 point per dollar falls short. This is typical for tiered rewards credit cards, but if you want to avoid earning a poor rate on the majority of your spending, couple this card with another rewards card that gives a high flat rewards rate.

  How To Establish Credit With No Credit History

You are looking for information, articles, knowledge about the topic Wells Fargo Introduces New Rewards Credit Card on internet, you do not find the information you need! Here are the best content compiled and compiled by the smartinvestplan.com team, along with other related topics such as: Credit Cards.

Similar Posts