Should I get Wells Fargo's new credit card?
Yes, you should get Wells Fargo's new credit card, the Wells Fargo Visa Signature® Card, if you have the excellent credit needed for approval and spend a lot in the card's bonus rewards categories. The card has a $0 annual fee and earns you 5 points per $1 spent on gas, grocery, and drugstore purchases for 6 months on up to $12,500 spent, and 1 point on all other purchases. And you can supplement your points by 50% when you redeem them for airfare, with no blackout dates, no advance booking, and no minimum stay requirements. Additionally, you can redeem points for hotels, car rentals, cruises, cash back, gift cards and more.
Aside from its rewards, the Wells Fargo Visa Signature® Card packs plenty of other benefits like travel accident insurance, rental car insurance, lost luggage reimbursement and more.
Here are details on Wells Fargo's new credit card:
- Card name: Wells Fargo Visa Signature® Card.
- Credit required: Excellent credit.
- Annual fee: $0.
- Introductory APR: 0% for 15 months on purchases and 0% for 15 months on qualifying balance transfers made in the first 120 days.
- Regular APR: 12.49% - 25.49% (V).
- Balance transfer fee: 3% (min $5).
- Rewards: 5 points per $1 spent on gas, grocery, and drugstore purchases for 6 months on up to $12,500 spent, and 1 point on all other purchases. Redeeming points for airfare gets you 50% more value, so 20,000 points is $300 in airfare and $200 in cash back or other redemption options.
- Travel protections: Travel accident insurance; trip cancellation protection and lost luggage reimbursement; auto rental collision coverage; concierge service; 24/7 travel and emergency assistance; roadside dispatch and more.
- Foreign transaction fee: 3%.
Wells Fargo's new credit card, the Wells Fargo Visa Signature® Card card, offers decent value for both frequent and occasional travelers, both through its rewards and additional travel benefits. But its lack of an initial bonus and the 3% foreign transaction fee puts it at a disadvantage when compared to some of the best travel credit cards.
