Wells Fargo announces a new travel rewards card, the Autograph Journey — get 60,000 transferrable points and much more

Wells Fargo is making a splash in the credit card space with its brand-new travel rewards card and a revamped rewards program. The new Wells Fargo Autograph Journey℠ Visa® Card features an exceptional return on travel spending and the ability to transfer points to a handful of travel partners.

Here's what we know about this new rewards credit card, its benefits and how it stacks up against the competition.

The Autograph Journey card doesn't mess around when it comes to earning points — here's what you'll get when making purchases this credit card:

• 5X points on hotels
• 4X points on airlines
• 3X points on other travel
• 3X points on dining
• 1X points on all other purchases

The earning structure of the rewards helps make the Autograph Journey a strong competitor in the travel card space. Capital One Venture Rewards Credit Card, which also charges a $95 annual fee (see rates and fees), earns 5X miles on hotel and car rental purchases — but only if you book through Capital One Travel, the issuer's travel portal. One of the Autograph Journey's standout features is that it lets you earn high rewards on hotel and airline spending no matter how you book.

The points you can earn are unlimited, so your balance can grow quickly, especially if you spend a lot on hotels and airlines. Another way to quickly rack up points is through the card's intro bonus, which is worth 60,000 points after spending $4,000 on the card in the first three months.

The Autograph Journey card has a $95 annual fee, which is partially offset by a $50 annual airline credit, which you can earn each account anniversary year. To qualify for the credit, the transaction must be at least $50 (you can't earn a partial credit) and the merchant must fall under the airline or air carrier category. So this credit should apply to airfare, checked-bag fees, seat selection fees and more, as long as you meet the $50 threshold. The credit applies to the first transaction of $50 or more.

The Autograph Journey also has a solid lineup of credit card insurance benefits, including:

• Trip interruption/cancellation coverage
• Lost luggage reimbursement
• Travel accident insurance
• Rental car collision damage waiver (secondary coverage for rentals in the U.S.)
• Travel and emergency assistance services
• Roadside Dispatch®
• Cell phone insurance

Cardholders spend freely overseas because it has no foreign transaction fee.

Wells Fargo Autograph Journey and transfer partners

Wells Fargo is adding the ability to access transfer partners to its no-annual-fee Wells Fargo Autograph℠ Card (the new Autograph Journey will also give you access to transfer partners). The ability to transfer points is rare on a no-annual-fee card and instantly boosts this card's value.

Right now, Wells Fargo has a smaller list of transfer partners, but more partners are expected to be added. The conversion ratio is 1:1 for all of the programs except for Choice Hotels, which is 1:2. Transfers to these programs go live on April 4, 2024:

• Aer Lingus AerClub
• Air France/KLM Flying Blue (partners with Delta)
• Avianca LifeMiles  (partners with United)
• British Airways Executive Club (partners with American Airlines and Alaska Airlines)
• Iberia Plus (partners with American Airlines and Alaska Airlines)
• Choice Privileges

Wells Fargo told CNBC Select that with the addition of transfer partners, any Wells Fargo-branded consumer cardholders will be able to convert those rewards into transferrable points, if you have a Wells Fargo card that enables rewards transfers. This means you could earn 2% in cash rewards on purchases with the no-annual-fee Wells Fargo Active Cash® Card and combine the cash rewards with a no-annual-fee Wells Fargo Autograph℠ Card, then transfer those points to partners (once transfers are live).

The Wells Fargo Autograph Journey℠ Visa® Card is aiming for the top travel credit cards with a competitive bonus and excellent rewards for popular travel purchases. And if you have any other consumer Wells Fargo-branded cards, getting the Autograph Journey instantly makes them more valuable. However, until Wells Fargo adds more transfer partners, this card's value is a tier below the top credit card travel programs, such as Chase Ultimate Rewards and American Express Membership Rewards.

The Chase Sapphire Preferred® Card doesn't earn as much for general travel spending and flights or hotels booked outside of the Chase Travel portal, but you can transfer Chase points to 14 partners, including valuable loyalty programs for World of Hyatt, Air Canada Aeroplan and United MileagePlus. The Sapphire Preferred also has more comprehensive travel protections including primary rental car coverage, trip delay reimbursement and baggage delay insurance.

The Capital One Venture Rewards card, as mentioned earlier, is another travel card that charges a $95 annual fee (same as the Autograph Journey)(see rates and fees). It earns fewer rewards than the Autograph Journey in some categories, but Capital One has a robust list of transfer partners (18 in total), including four of the same programs Wells Fargo partners with. The Venture Rewards can make your time at the airport a little more pleasant if you use its statement credit of up to $100 for a TSA PreCheck® or Global Entry application, valid every four years.

The Wells Fargo Autograph℠ Journey Visa® Card is coming out of the gate strong and poised to compete with the top travel cards from other issuers. It has a reasonable annual fee, travel protections, a strong welcome bonus and an amazing return for all sorts of travel spending.

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Information about the Wells Fargo Autograph℠ Journey Visa® Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.