The Wells Fargo Autograph Credit Card has garnered significant attention for its enticing rewards structure and lack of an annual fee. But does it truly live up to the hype? This comprehensive review delves deep into the card’s features, benefits, drawbacks, and how it stacks up against competitors.
Card Overview
The Wells Fargo Autograph Credit Card is a rewards card that offers a balance of everyday spending rewards and travel benefits. Key features include:
- No annual fee: A significant advantage over many competing cards.
- Welcome bonus: Earn a generous bonus of 60,000 points after spending $3,000 on purchases in the first three months.
- Reward structure: Triple points on dining, travel, gas, and streaming services.
- Additional perks: Cell phone protection, free credit score access, and more.
- Transfer partners: Ability to transfer points to select travel partners, including airlines like Alaska Airlines and Virgin Atlantic.
Rewards Structure: A Closer Look
The Wells Fargo Autograph Card’s rewards structure is straightforward:
- Triple points: Earn 3 points per dollar spent on dining, travel, gas, and streaming services.
- Double points: Earn 2 points per dollar spent on grocery stores, pharmacies, and select home improvement stores.
- One point: Earn 1 point per dollar spent on all other purchases.
Points Valuation:
To accurately assess the card’s value, it’s essential to determine the value of each point. While Wells Fargo doesn’t assign a specific cash value to points, you can typically redeem them for travel, merchandise, or gift cards.
| Redemption Option | Approximate Point Value |
|---|---|
| Travel | 1.5 cents per point |
| Merchandise | 0.8 cents per point |
| Gift Cards | 0.7 cents per point |
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Welcome Bonus and Spending Requirements
The Autograph Card offers a competitive welcome bonus:
- Earn 60,000 points after spending $3,000 on purchases in the first three months.
To maximize the welcome bonus, cardholders must meet specific spending requirements within a designated timeframe.
Earning Potential: A Comparative Analysis
To gauge the Autograph Card’s earning potential, let’s compare it to similar cards in the same category:
| Card | Annual Fee | Dining | Travel | Gas | Streaming |
|---|---|---|---|---|---|
| Wells Fargo Autograph | $0 | 3x | 3x | 3x | 3x |
| Chase Sapphire Preferred | $95 | 2x | 2x | 1x | 1x |
| American Express Blue Cash Preferred | $0 | 6x | 1x | 3x | 1x |
As the table demonstrates, the Autograph Card’s triple points on dining, travel, gas, and streaming services provide a strong earning potential. However, some competitors offer higher rewards in specific categories, such as the American Express Blue Cash Preferred for dining.
Redemption Options
The Autograph Card provides several redemption options:
- Travel: Redeem points for flights, hotels, car rentals, and vacation packages.
- Merchandise: Shop a vast catalog of items using your points.
- Gift cards: Choose from a variety of popular retailers.
- Cash back: Redeem points for statement credits (at a lower value).
| Redemption Option | Approximate Point Value |
|---|---|
| Travel | 1.5 cents per point |
| Merchandise | 0.8 cents per point |
| Gift Cards | 0.7 cents per point |
| Cash Back | 0.6 cents per point |
Additional Perks and Benefits
Beyond its rewards program, the Autograph Card offers additional perks:
- Cell phone protection: Receive up to $600 in reimbursement for stolen or damaged phones.
- Free credit score access: Monitor your credit health through Experian.
- Purchase protection: Coverage for damaged or stolen items within 90 days of purchase.
- Extended warranty: Double the original warranty on eligible purchases.
- Travel and emergency assistance: Access to 24/7 support services for travel-related issues.
Fees and APR
A significant advantage of the Autograph Card is its lack of an annual fee. However, it’s essential to consider the following:
- Balance transfer fee: 3% of the amount transferred.
- Foreign transaction fee: 3% of the purchase amount.
- APR: Variable purchase APR, currently ranging from 15.49% to 25.49% APR.
| Card | Annual Fee | Balance Transfer Fee | Foreign Transaction Fee |
|---|---|---|---|
| Wells Fargo Autograph | $0 | 3% | 3% |
| Chase Sapphire Preferred | $95 | 3% | 3% |
| American Express Blue Cash Preferred | $0 | 3% | 3% |
Should You Get the Wells Fargo Autograph Card?
The Wells Fargo Autograph Credit Card is a solid choice for individuals seeking a no-annual-fee card with strong rewards in everyday spending categories. It’s particularly well-suited for those who frequently dine out, travel, or purchase gas.
However, if you prioritize travel rewards and are willing to pay an annual fee, premium travel rewards cards like the Chase Sapphire Preferred might offer better value. Additionally, consider your spending habits to determine if the card’s bonus categories align with your lifestyle.
The Wells Fargo Autograph Credit Card is a compelling option for many consumers. Its combination of no annual fee, generous rewards, and additional perks makes it a competitive choice in the crowded credit card market. By carefully considering your spending patterns and comparing it to other available cards, you can determine if the Autograph Card is the right fit for your financial goals.