There’s a variety of 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 couple of weeks, Wells Fargo and its Autograph card portfolio have been on the heart of a few of that hypothesis.
We love a great rumor as a lot as the subsequent individual, however since hypothesis alone would not fund reward journeys, we obtained 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, this is every thing you should 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 gives a stable worth proposition for a card with no annual payment (see charges and costs) — together with a welcome supply of 30,000 bonus factors while you spend $1,500 or extra in purchases within the first three months from account opening.
The brand new Autograph Journey Visa card will more than likely have an annual payment, 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 might 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, resorts, automotive leases and cruises
- Gasoline — together with gasoline at gasoline stations and electrical charging purchases
- Transit — together with subways, ride-hailing companies, parking and tolls
- Common streaming companies
- Telephone plans with cellphone and landline suppliers
Moreover, TPG was advised 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 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. Nevertheless, in contrast to some reviews, 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 shouldn’t be but out there, neither is the record of switch companions. Nevertheless, this redemption possibility might be out there on the comparatively near-term horizon for the Autograph portfolio and, as such, will doubtless characterize a serious enhance to the issuer’s prospects.
For now, that signifies that only one Wells Fargo card — the Bilt Mastercard® (see charges and costs) — gives transfers to pick out airline and lodge loyalty packages.
Associated: Your full information to the Bilt Rewards program
Extra to return 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 advised 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 Categorical. And whereas they’re nonetheless juggernauts within the house, and rightfully so, competitors is an efficient factor for points-earning customers.
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 few shake-up to Wells Fargo’s card portfolio, and whereas we nonetheless haven’t got all the particulars, we will affirm a number of thrilling modifications are on the way in which in 2024. We all know that switch companions are coming to the Autograph Card, and there’ll certainly be a minimum of one new card within the portfolio: the Autograph Journey.
Whereas Wells Fargo hasn’t all the time been prime of thoughts in relation to the journey rewards card panorama, the previous would not predict the long run, and we’re excited for what subsequent yr will deliver 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 right here.
See Bilt Mastercard rewards and advantages right here.
