Wells Fargo Continues Credit Push With Autograph Card

Wells Fargo will roll out a series of rewards cards, starting next month with the launch of its Autograph Card.

The card is the latest in the banking giant’s efforts to introduce new offerings under the leadership of CEO Charlie Scharf, according to a Monday (June 27) press release.

The card offers three points for each dollar spent on categories that include restaurants, streaming services, gas stations and travel.

Read more: New Wells Fargo Reflect Credit Card Rewards On-Time Payments

“We’re starting our journey to go into the mass and mass-affluent segment with the introduction of the first of a few rewards cards,” Krista Phillips, Wells Fargo’s head of branded cards and marketing, said in an interview with Bloomberg.

“Coming out of the pandemic, travel is a really, really important category for consumers. You only have to go to the nearest airport to see that people are coming back into travel,” she said.

Bloomberg noted that credit cards have been one of Scharf’s major growth projects for Wells Fargo, and that the bank should have an advantage due to its large network of branches, the largest in the country.

The bank launched credit cards in 2021 aimed at competing in the same field as some of its larger rivals.

Its first consumer credit card, Active Cash, debuted in July of last year, followed by the reflect Card, a no-annual-fee card that provides rewards for on-time payments, in October of 2021.

Read more: Wells Fargo’s ‘Rewards for Rent’ Card Taps Points as Currency Incentive

In March of this year, the bank teamed up with real estate startup Bilt to let customers earn points and miles on rent payments through a new credit card.

The card can also be used to make rent payments to properties that don’t accept credit cards through Bilt’s app.