One Key™ Card review: Earn solid rewards on popular third-party travel portals

The Wells Fargo One Key Card is a great no-annual-fee option for travelers who want to earn rewards on Expedia, Hotels.com and Vrbo bookings, as well as gas stations, grocery stores and dining purchases. And with no foreign transaction fees, cardholders can plan their global excursions without worrying about additional charges on purchases abroad.

The One Key rewards program is especially valuable if you travel frequently, as you receive automatic Silver tier membership in the One Key rewards program and can save 15% or more on over 10,000 hotels globally. You can also unlock Gold tier when you spend $15,000 each calendar year with your One Key card. However, if you don’t travel much, the rewards and features of this card may not be as enticing.

Why you might want the Wells Fargo One Key Card

The Wells Fargo One Key Card boasts a reasonable rewards rate for travel bookings and everyday spending categories such as dining and gas. It also provides a solid flat rewards rate on other purchases. In addition, the One Key rewards program offers generous savings on hotel stays.

Welcome bonus: Reasonable spending requirement

The Wells Fargo One Key Card rewards $400 in OneKeyCash after you spend $1,000 on purchases during the first three months. This welcome bonus is reasonable for the spending threshold, and you’re unlikely to feel pressured to overspend to satisfy the requirement.

Even though other travel rewards cards have a much higher welcome bonus value, such as The Platinum Card® from American Express– which has one of the highest welcome bonus values of most top-tier travel rewards cards – these types of welcome bonuses typically come with a hefty annual bonus and spending requirement. The Wells Fargo One Key Card has a bonus that is slightly higher than most top-tier travel cards with no annual fee, such as the Capital One VentureOne Rewards Credit Card and the Chase Freedom Unlimited®.

Rewards: Great if you prefer third-party sites for travel bookings

You can earn 3% OneKeyCash on Expedia, Hotels.com and Vrbo bookings, as well as on gas station, grocery store and dining purchases. You earn 1.5% OneKeyCash on other purchases. This is a unique niche that could prove valuable if you primarily book reservations through third-party sites.

Additionally, you’re automatically qualified for Silver tier status in the One Key Rewards program, which grants an assortment of perks, including up to a 15% discount on over 10,000 hotels worldwide. To unlock Gold tier status, you’ll need to spend $15,000 or more per calendar year on your card.

You can also earn up to 6% OneKeyCash for every dollar you spend on top of the rewards you earn from the Wells Fargo One Key Card or from any airline loyalty program once you sign up for the One Key travel rewards program.

There are other cards where you can earn a higher rate on hotel and car rental bookings, such as the Citi Strata Premier℠ Card, but these cards often charge annual fees. If you are genuinely committed to using third-party sites and believe you can optimize your reward earnings through the One Key Rewards program’s status tiers, this card’s rewards rates can offer a lot of value for future bookings.

Rates and fees: No annual fee or foreign transaction fees

There is no annual fee attached to this card, which means you won’t lose any value for taking a break from travel for a year. It also has no foreign transaction fees, which can help you save on purchases made abroad.

Why you might want a different card

Even though the Wells Fargo One Key Card has a decent rewards program, welcome offer and elevated rate on travel purchases, there are still some drawbacks to consider, such as the lack of rewards flexibility and travel perks.

Redemption: Rewards can only be used through the One Key program

When it comes to the rewards you earn from the welcome bonus and purchases, you earn “OneKeyCash,” which you can’t redeem for cash or any other traditional form of redemption, such as statement credit, gift cards or merchandise. You can only redeem OneKeyCash through Expedia, Hotels.com and Vrbo, which dramatically limits the number of ways you can utilize your rewards. Additionally, $1 in OneKeyCash equates $1 in cash.

Compared to other cards, the Wells Fargo One Key Card is not as flexible with earnings. For example, the Bank of America® Travel Rewards credit card not only allows you to redeem your cash back earnings for cash, statement credit, or gift cards, but it also lets you make bookings through external travel sites at a discount and redeem rewards toward a large variety of travel and dining-related categories, such as airlines, hotels, cruise lines, transit and tourist attractions, as well as restaurants, bars and taverns.

If you’re not very familiar with or interested in the Wells Fargo One Key Rewards program, you might prefer a different travel rewards card with a less rigid rewards structure and more redemption possibilities.

Benefits: There aren’t many travel perks compared to other similar cards

Though the card offers free Silver tier status in the One Key program and up to $1,000 of cell phone protection in case your phone is damaged or stolen ($25 deductible), these are the only notable benefits of the Wells Fargo One Key Card. Other cards by comparison, such as the Capital One Venture Rewards Credit Card, offer up to $120 credit toward TSA PreCheck® or Global Entry, lost or damaged luggage coverage* as well as trip cancellation and interruption coverage* and more.

If you don’t mind paying an annual fee, a more premium travel rewards card would be more advantageous if you’re a luxury traveler – but if you don’t mind not having an annual fee and have no concerns about those sort of features, this card may be suitable for you.

How does the Wells Fargo One Key Card compare to other cards?

While the Wells Fargo One Key Card offers a respectable welcome bonus and rewards for no annual fee, there are still other travel rewards cards that may have more elevated rewards in the same categories, offer more flexibility in terms of redemption or have better perks overall.

Wells Fargo Autograph Journey℠ Card	Chase Freedom Unlimited®	Citi Strata Premier℠ Card
Rewards rate: Earn unlimited 5X points on hotels Earn unlimited 4X points on airlines Earn unlimited 3X points on other travel and restaurants Earn 1X points on other purchases	Rewards rate: Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more. 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service. 1.5% cash back on all other purchases.	Rewards rate: Earn 10 points per $1 spent on Hotels, Car Rentals, and Attractions booked on CitiTravel.com. Earn 3 points per $1 on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations. Earn 1 Point per $1 spent on all other purchases
Welcome bonus: Earn 60,000 bonus points when you spend $4,000 in purchases in the first 3 months – that’s $600 toward your next trip.	Welcome bonus  Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.	Welcome bonus: Earn 70,000 bonus ThankYou® Points after spending $4,000 in the first 3 months of account opening, redeemable for $700 in gift cards or travel rewards at thankyou.com
Annual fee:  $95	Annual fee: $0	Annual fee: $95
Other things to know: Offers travel insurance, cell phone protection, Visa Signature benefits, My Wells Fargo Deals opportunities	Other things to know: Offers trip cancellation and interruption insurance and purchase protection/extended warranty coverage	Other things to know: Offers Citi Concierge and Citi Entertainment perks

Wells Fargo One Key Card vs. Wells Fargo Autograph Journey℠ Card

The Wells Fargo Autograph Journey℠ Card has a competitive rewards rate on travel and dining, making it an attractive choice for individuals who regularly indulge in these activities. The low annual fee further adds to its appeal, allowing cardholders to earn rewards without having that cost dip into their yearly earning potential. Additionally, the inclusion of travel protection enhances the overall value of the card, providing a sense of security and reassurance for travelers.

On the other hand, some potential drawbacks of the Wells Fargo Autograph Journey℠ Card include a less flexible rewards program compared to competitors, which may limit redemption options. Additionally, while there are no foreign transaction fees, the card lacks certain premium travel-related perks offered by other travel credit cards, potentially making it less appealing to those seeking an extensive suite of travel benefits.

The welcome bonus of the Autograph Journey Card is also less enticing compared to similar travel rewards cards due to its high spending requirement. If you prefer a low-barrier welcome offer and no annual fee, the One Key Card could be your best bet, but if you want a more elevated rewards rate for hotel and airline purchases, the Autograph Journey could work better.

Wells Fargo One Key Card vs. Chase Freedom Unlimited®

The Chase Freedom Unlimited® offers several advantages compared to the One Key Card. Its range of rewards categories as well as its welcome bonus are both valuable assets with greater everyday reward potential than the One Key Card. The card’s structure makes it an attractive option for individuals who prefer a tiered rewards scheme and the chance to strategize and maximize rewards. Additionally, the Chase Freedom Unlimited® allows cardholders to transfer their cash back earnings to Chase transfer partners at a 1:1 ratio, as well as pool earnings with other Chase cards that offer travel rewards, such as the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, maximizing the value of their rewards.

Despite its many benefits, the Chase Freedom Unlimited® does have a few potential downsides to consider. It has a 3% foreign transaction fee, unlike the Wells Fargo One Key Card. This means that individuals who primarily travel overseas may find the One Key Card more useful. Additionally, while the ability to pool cash back with other Chase cards is advantageous, it requires cardholders to have multiple Chase credit cards, which may not be ideal for those who prefer simplicity and consolidation.

Wells Fargo One Key Card vs. Citi Strata Premier℠ Card

The Citi Strata Premier℠ Card offers a generous rewards rate eclipsing that of the One Key Card in categories such as hotels, car rentals and attractions booked through CitiTravel.com. Cardholders can also earn valuable points on their everyday purchases, such as restaurants, supermarkets and gas stations, making it a lucrative option for frequent travelers and food enthusiasts. Additionally, the card provides a couple of enticing travel perks, such as a $100 annual hotel benefit, enhancing the overall travel experience for cardholders.

Unlike the Wells Fargo One Key Card, however, the Citi Strata Premier features an annual fee, which could be a deterrent if you don’t travel often or you’re trying to minimize expenses. Additionally, the redemption options for the rewards earned through this card may not be as flexible as those offered by other travel credit cards, limiting the ways in which cardholders can utilize their points or miles. Despite these drawbacks, the Citi Strata Premier℠ Card’s strong rewards program and travel perks make it a compelling choice for those who prioritize earning rewards on their travel expenses. But if you would rather not have an annual fee, a card like the Wells Fargo One Key Card could suit you.

How to use the Wells Fargo One Key Card

• Spend $1,000 in purchases in the first three months to earn the welcome bonus.
• Stack your OneKeyCash earnings by using your card on Hotels.com, Expedia, and Vrbo.
• Spend at gas stations, grocery stores, and restaurants to earn 3% OneKeyCash.
• Spend $15,000 or more per calendar year to unlock OneKey Gold tier status.

Is the Wells Fargo One Key Card right for you?

If you travel frequently and book the majority of your accommodations through Expedia, Hotels.com, or Vrbo, the Wells Fargo One Key Card may be a good option for you. However, the limited number of perks and redemption options may be a deal-breaker if you want enhanced travel perks and rewards flexibility.

If you don’t mind that your rewards are mostly focused toward the Wells Fargo OneKey program, then the One Key Card would be fine – but, if you want more redemption options for your reward earnings, another travel rewards card could serve as a more suitable choice.

*For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply