Wells Fargo introduced the Wells Fargo Autograph Card today, a Visa credit card that offers an uncomplicated rewards program for common spending categories and provides a variety of redemption options. The card will be available across the country in mid-July, according to a company news release.
The Wells Fargo Autograph Card earns three points per dollar on dining out, travel, transit, popular streaming services, phone plans and at gas stations, and one point per dollar on all other qualifying purchases — with no limits to the points you can earn. Following 12 months with a 0% annual percentage rate, expect to pay a 16.49%, 21.49% or 26.49% variable APR.
[Read: Best Cash Back Credit Cards.]
What Are Some of the Autograph Card’s Benefits?
New cardholders get a 0% introductory APR on purchases for 12 months from account opening. You can also earn 30,000 bonus points — worth $300 in cash — when you spend $1,500 in your first three months with the card.
Cardholders may also appreciate:
— No annual fee and no foreign transaction fee.
— Access to perks through Visa Signature Concierge.
— Multiple ways to redeem points — on travel, as statement credits or gift card purchases, or when you pay using PayPal.
[Read: Best No-Annual-Fee Credit Cards.]
Similar to the Wells Fargo Autograph Card, Chase Freedom Flex earns 3% back on dining. It also earns 3% back at drugstores, 5% back on travel purchased through Chase Ultimate Rewards and 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter. All other purchases earn 1% back.
The 5% categories offer a higher cash back rate initially, but there is a cap on earnings in the quarterly bonus categories. In contrast, there’s no limit on the reward points you can earn with the Wells Fargo Autograph Card.
The Bank of America Customized Cash Rewards credit card earns 3% cash back in an eligible category of your choice and 2% back at grocery stores and wholesale clubs on up to $2,500 in combined purchases in those categories each quarter. All other purchases earn unlimited 1% cash back. Although it offers higher rewards for grocery purchases, there is a cap on earnings, and the card only earns 3% cash back in a single category.
You may get fewer points on specific spending with the Wells Fargo Autograph Card, but it offers a less complicated structure with no limits to the rewards you can earn.
Should You Get the Wells Fargo Autograph Card?
The Autograph Card offers solid rewards at gas stations and on transit, dining out, streaming, phone plans and travel. With no rewards limits and no annual fee, it might be a good addition to your wallet.
It’s important to note that the minimum and maximum interest rates on the Wells Fargo Autograph Card are on the higher end compared with some similar cards, so be sure to use this card wisely and don’t carry a balance after the 0% introductory rate expires.
More from U.S. News