Wells Fargo unveils new credit card, ‘Autograph’

Bloomberg

Wells Fargo & Co. is launching another credit card, the latest in third-biggest US lender’s push to build out new offerings under Chief Executive
Officer Charlie Scharf.
The Wells Fargo Autograph card is the first in a group of rewards cards the firm plans to introduce, according to a statement on Monday. The card, which launches throughout the US in mid-July and has no annual fee, offers three points per dollar spent on categories including restaurants, travel, gas stations and streaming services. Wells Fargo’s points are worth one cent each on the firm’s rewards platform.
Credit cards have been a key growth initiative for Scharf, who was previously CEO of Visa Inc.
and earlier in his career led JPMorgan Chase & Co.’s retail-banking arm.
“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. “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.”