On July 12, 2024 Wells Fargo announced it would be launching two new One Key credit cards in partnership with Expedia Group: The One Key and One Key+ World Elite Mastercard®. I’m happy to report the application for both One Key credit cards is now live.
Both cards will earn OneKeyCash – rewards that are redeemable through Expedia, Hotels.com, and Vrbo. Existing Hotels.com cards will convert to the no-annual-fee One Key Card.
These cards offer surprisingly generous travel protections, above-average welcome bonuses and other perks that can save you money on travel.
Here’s a closer look at the benefits the Wells Fargo One Key credit cards will offer:
Benefits of the One Key credit cards
The One Key and One Key+ Cards both earn OneKeyCash rewards, which can be redeemed toward travel bookings on Expedia Group’s various platforms. OneKeyCash is equivalent to cash back rewards, except it’s only redeemable on Expedia Group’s platforms.
This provides flexibility in how cardholders can redeem rewards since Expedia’s platform includes Vrbo and Hotels.com. One Key members get access to a wide array of travel options, making it ideal for those who prefer simpler rewards over complicated loyalty programs.
What distinguishes the Wells Fargo One Key credit cards from regular cash back cards is their travel perks and trip protections. These benefits can save you money and make your travels more rewarding. Even the no-annual-fee version of the card waives foreign transaction fees and provides valuable travel protections, which is unusual for a credit card in its class.
Here’s a look at how the Wells Fargo One Key credit cards stack up against each other:
| Wells Fargo One Key Card | Wells Fargo One Key Card+ | |
| Welcome bonus | Earn $400 in OneKeyCash after spending $1,000 on purchases in the first three months. | Earn $600 in OneKeyCash after spending $3,000 on purchases in the first three months |
| Rewards | 3% in OneKeyCash on Expedia, Hotels.com, and Vrbo. 3% in OneKeyCash at gas stations, grocery stores, and on dining 1.5% in OneKeyCash on all other purchases | 3% in OneKeyCash on Expedia, Hotels.com, and Vrbo. 3% in OneKeyCash at gas stations, grocery stores, and on dining. 2% in OneKeyCash on all other purchases. |
| Elite status upgrade | OneKey Silver Upgrade to Gold after spending $15,000 per calendar year | OneKey Gold Upgrade to Platinum after spending $30,000 per calendar year |
| Foreign transaction fees | None | None |
| Cell phone protection | Yes | Yes |
| Trip protections | Trip cancellation and interruption Auto rental collision damage waiver (primary, except in New York) Travel accident insurance | Trip cancellation and interruption Auto rental collision damage waiver (primary, except in New York) Travel accident insurance |
| Global Enytry/TSA Precheck application fee credit | None | Up to $100 every four years. |
| Annual bonus | None | $100 OneKey cash |
| Annual fee | $0 | $99 |
Who should get the new Wells Fargo One Key credit cards?
The new Wells Fargo One Key credit cards are ideal for folks who want to earn rewards on everyday purchases and redeem them towards travel – without learning how to maximize every point to the fullest.
The Wells Fargo One Key credit cards strike a good balance between offering above-average rewards on purchases and making redemptions simple. Expedia’s One Key rewards program is notoriously easy in terms of how redeeming points: You can apply your rewards at check-out (including the ones you’re earning on the current booking).
I know a lot of newbies who want to get into travel rewards without doing all the homework. One Key is a good program for those types of folks. With the added elite status upgrade from the credit card, cardholders will not only earn elevated rewards but also save money on future bookings on Expedia Group platforms.
Which One Key credit card should you get?
The Wells Fargo One Key Cards are best for those who want to earn and redeem travel rewards without the complicated reward programs.
The One Key Card is ideal if you want a travel rewards card with no annual fee that rewards everyday spending. The $400 welcome bonus is above-average compared to cash back-equivalent cards and the upgrade to Silver elite status can help you save money and access extra perks on Expedia Group bookings.
Meanwhile, the Wells Fargo One Key+ Card is better suited to those who want more travel perks and don’t mind paying a $99 annual fee for it. It offers an elevated 2% back on all purchases, plus the same 3% bonus categories as the One Key Card. The higher $600 welcome bonus is a nice bonus, while the $100 annual OneKeyCash bonus offsets the annual fee entirely.
If you book at least $100 a year in travel, then the One Key+ Card is a no-brainer; you’ll recoup the annual fee easily via higher rewards and the annual OneKeyCash bonus.
When you can apply for the Wells Fargo One Key credit cards
The Wells Fargo One Key credit cards became officially available to new applicants on July 17, 2024. You can apply for these cards via this link. Note, Wells Fargo will pull your credit and evaluate numerous other factors before deciding whether to approve you for one of the One Key credit cards.
A great way to increase your approval odds is by establishing a banking relationship with Wells Fargo. Typically, banks are more likely to approve applications coming from existing cardholders they have a positive banking relationship with.
This won’t guarantee approval for One Key credit cards (or any card), but it can help.
Bottom line
Wells Fargo may have joined the rewards credit card scene a little later than other banks, but it’s making up for lost time. The new Expedia One Key credit cards are excellent alternatives for folks who want to maximize their credit card spending and earn travel rewards without dealing with complicated loyalty programs.
Not everyone is a “maximizer” – some people want straightforward rewards and a loyalty program that doesn’t require an advanced degree. Expedia One Key is as straightforward as it gets and the new co-branded One Key credit cards make earning OneKeyCash even simpler.
This story was originally published on July 12, 2024. It has been updated with the most current information available.
