Wells Fargo and Expedia introduce new credit cards: Up to $600 bonus, travel protections, elite status and more

The One Key Card features no annual fee, a solid return on spending and an intro bonus worth $400 in OneKeyCash after you spend $1,000 on purchases in the first three months. The low cost and small bonus spending requirement make it a decent beginner travel credit card.

It earns rewards at the following rates:

• 3% in OneKeyCash on Expedia, Hotels.com and Vrbo bookings (including stays, flights, cars, cruises, activities, event tickets and more)
• 3% in OneKeyCash at gas stations
• 3% in OneKeyCash at grocery stores
• 3% in OneKeyCash on dining
• 1.5% in OneKeyCash on all other purchases

You’ll pay no foreign transaction fees with this card and it has a suite of insurance benefits you don’t often get with a no-annual-fee rewards credit card. You can take advantage of cell phone protection that covers damage, theft or loss for up to $1,000 per claim and two claims per 12 months (a $25 deductible applies). Other coverages include travel accident insurance, trip cancellation and interruption, and rental car insurance (primary coverage in the U.S. except for New York residents).

The no-annual-fee One Key card also grants you One Key Silver status as long as you have the card. Silver status comes with a 15% discount at select hotels, priority support, a 50% bonus OneKeyCash at VIP Access Properties and other perks. You can upgrade to One Key Gold status by spending $15,000 on your card in a calendar year. Gold status comes with enhanced benefits, such as an increased discount at select hotels of 20%, price drop protection (for eligible flights) and 2X OneKeyCash at VIP Access properties.

One Key+™ Card

The One Key+ Card features a few enhanced benefits and a $99 annual fee. However, if you make a single booking through the One Key program each year, it can pay for itself because you get $100 in OneKeyCash every card anniversary. You can earn a $600 OneKeyCash bonus after spending 3,000 on purchases in the first three months.

It earns OneKeyCash at the following rates:

• 3% in OneKeyCash on Expedia, Hotels.com and Vrbo bookings
• 3% in OneKeyCash at gas stations
• 3% in OneKeyCash at grocery stores
• 3% in OneKeyCash on dining
• 2% in OneKeyCash on all other purchases

These rewards rates are similar to the no-annual-fee One Key card with the only difference being you earn 2% in OneKeyCash instead of 1.5% on spending that falls outside of a bonus category. You can also earn a statement credit of up to $100 for Global Entry or TSA PreCheck (once every four years).

If you book most of your travel through the One Key program, you’ll appreciate the Gold status you receive as a cardholder and you can earn the top-tier Platinum status after spending at least $30,000 on the card in a calendar year. Platinum status provides the best benefits of Gold status (upgrades when available at VIP Access properties, price drop protection) and other improved perks such as 3X OneKeyCash at VIP Access properties and Platinum VIP support.

The insurance benefits of this card match what you get with the no-annual-fee version. You’ll be covered by:

• Cell phone protection
• Travel accident insurance
• Rental car insurance
• Trip cancellation and interruption insurance

Expedia Group’s One Key travel rewards program allows you to earn and redeem rewards with Vrbo, Expedia and Hotels.com. You can book everything from hotels, rental cars and flights to vacation rentals, cruises, activities and event tickets.

The rewards you earn with the One Key program are called OneKeyCash and function similarly to cashback except that you can only redeem these rewards for eligible bookings through Vrbo, Expedia and Hotels.com. You can stack the rewards you earn as a One Key member with what you’ll get when you use a One Key card. You earn 2% in OneKeyCash on most bookings as a One Key member, which means you can get at least 5% in rewards on eligible reservations when you pay with a One Key card since both cards earn 3% in OneKeyCash on these purchases.

The way you earn and redeem rewards for flights is slightly different than most other bookings with the program. You’ll only earn 0.2% in OneKeyCash for flights that aren’t part of a package and you can’t redeem OneKeyCash for flights unless you have enough rewards to cover the entire flight. With most other redemptions, you can use your OneKeyCash to pay for part of a booking.

The new One Key cards can easily offer more value than what they cost. The One Key card has an easy-to-earn welcome offer, decent rewards rates and useful perks for a no-annual-fee card such as primary rental car coverage. The One Key+ offers a $100 annual OneKeyCash bonus that offsets the annual fee and gets you Gold status and increased rewards on everyday purchases.

But both of these cards have the same drawback you find with most co-branded credit cards, you’re limited to redeeming rewards with that program. That makes the One Key cards better options to pair with other rewards credit cards, rather than great go-to cards for everything.

If you want a rewarding no-annual-fee card with extremely flexible redemption options, look at the Citi Double Cash® Card. It earns a minimum of 2% cash back on every purchase (1% back when you buy and 1% back when you pay). It also earns cash back as Citi ThankYou® Points. This gives you the option to redeem for cash back, gift cards, travel or transfer your points to a handful of Citi’s travel partners. However, the Citi Double Cash lacks the travel protections available with the One Key card.

The Capital One Venture Rewards Credit Card has a slightly lower ($95) annual fee than the One Key+ card. While the Capital One Venture doesn’t offer an annual credit that offsets its fee, it makes up for it in the value of the rewards you earn. You’ll get at least 2X Capital One miles on every purchase and you can use these rewards for all sorts of options. They’re worth one cent each toward travel purchases and you can transfer Capital One miles to 18 airline and hotel loyalty programs, including Emirates Skywards, Turkish Airlines Miles&Smiles, Avianca LifeMiles, Wyndham Rewards and many more.

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