topic Re: New Wells Fargo Rewards “Points Transfer” coming soon in Credit in the News

New Wells Fargo Rewards “Points Transfer” coming soon

LADave — Fri, 13 Oct 2023 06:46:16 GMT

Apparently details are showing up in customer invoices for Wells Fargo Autograph cards this month. While details are sparse so far, it's now confirmed that transfer partners are coming November 15.

I haven't received my October Autograph invoice yet, so the details I've received so far are from Reddit and a Mark Reese video where he reads from the T&Cs. Points Transfer will be for all points-based WF credit cards (presumably non co-branded). Right now, the only one they're offering that fits that description is the Autograph.

Points will be transferable to miles, points or credits with participating partner loyalty transfer programs, but they're not saying yet which ones.

Barring some leaks or further announcements, I guess that all will be revealed on November 15th.

Re: New Wells Fargo Rewards “Points Transfer” coming soon

FireMedic1 — Fri, 13 Oct 2023 08:00:15 GMT

https://www.doctorofcredit.com/wells-fargo-autograph-getting-transfer-partners/

Re: New Wells Fargo Rewards “Points Transfer” coming soon

Citylights18 — Tue, 17 Oct 2023 23:23:46 GMT

If these transfer partners are anything like the Bilt card its a game changer for the Autograph.

American Airlines (only place)

United Airlines (only outside of Chase)

IHG (only outside of Chase)

World of Hyatt (only outside of Chase)

https://upgradedpoints.com/credit-cards/bilt-rewards-transfer-partners/

Re: New Wells Fargo Rewards “Points Transfer” coming soon

LADave — Wed, 18 Oct 2023 01:58:46 GMT

@Citylights18 wrote:
If these transfer partners are anything like the Bilt card its a game changer for the Autograph.

American Airlines (only place)
United Airlines (only outside of Chase)
IHG (only outside of Chase)
World of Hyatt (only outside of Chase)

https://upgradedpoints.com/credit-cards/bilt-rewards-transfer-partners/

Wells Fargo has a financial investment in Bilt, although I don't know if that includes an arrangement to share transfer partners or have a shared rewards program.

WF's rewards program has been anticipated for a long time, and it seems like it's taking forever to get it unveiled. Maybe it's going to be worth the wait.

Re: New Wells Fargo Rewards “Points Transfer” coming soon

LADave — Thu, 16 Nov 2023 02:35:02 GMT

According to a week-old post on Reddit in r/CreditCards, the new date for transfer partners is December 10. (I'm not sure if I can link to Reddit forums here so I'm leaving that out for now.)

Update: It's now been reported by DoC as an update to their earlier story https://www.doctorofcredit.com/wells-fargo-autograph-getting-transfer-partners/

The only other non-co-branded WF cards I'm aware of that have points and are still out there are the discontinued Platinum Visa and Platinum Business Visa cards. Perhaps someone reading this who has one or both of those cards (or even a Propel card, if there are any still out there) could pull up their most recent statement and confirm whether there's any mention of the upcoming transfer program.

Re: New Wells Fargo Rewards “Points Transfer” coming soon

LADave — Tue, 28 Nov 2023 04:43:05 GMT

@LADave wrote:
According to a week-old post on Reddit in r/CreditCards, the new date for transfer partners is December 10. (I'm not sure if I can link to Reddit forums here so I'm leaving that out for now.)

Update: It's now been reported by DoC as an update to their earlier story https://www.doctorofcredit.com/wells-fargo-autograph-getting-transfer-partners/
[snip]

Quick update - a number of people got notices in later Autograph statements that the transfer partners program was going to be on December 10, after WF originally said it would be November 15. My statement came out late in the month, and it said nothing about an updated date. Given the lack of communication, I started to wonder if WF was abandoning the program.

I called WF today to see what was happening, especially if the program was being delayed or cancelled. The first operator knew nothing about the transfer program, so she transferred me to the Wells Fargo Rewards department. I was a bit surprised that the woman I spoke with there didn't know anything about the transfer program, either!

I asked if she could find a supervisor or someone to verify what's happening. She put me on hold for a few minutes and verified that the program is still scheduled to be released on December 10.

I'm not thrilled with the amount or the quality of their communication (I had to reach out to them to get official confirmation of the date change), or with the fact that the operator I spoke with didn't know anything about it. But at least it looks like they'll still release it on December 10.

Between my Active Cash card and my Autograph card (which lets me convert my Active Cash rewards into points), I've accumulated substantially more Wells Fargo Points than I've ever done in anticipation of the transfer program. If it doesn't happen by mid-December - or if the transfer partners aren't compelling to me - I'll probably just cash them out like I've always done.

Re: New Wells Fargo Rewards “Points Transfer” coming soon

MyATLFico — Thu, 14 Dec 2023 00:49:39 GMT

I'm speculating of course, but assuming one of these 2 are the partners, I wonder if this explains the delayed launch...

Choice Hotels goes hostile in $8 billion takeover bid for Wyndham after being repeatedly rebuffed

https://apnews.com/article/choice-hotels-wyndham-hostile-takeover-43171a4519287a82ec71978c03ce1d6d

Re: New Wells Fargo Rewards “Points Transfer” coming soon

LADave — Thu, 14 Dec 2023 16:40:18 GMT

@MyATLFico wrote:
I'm speculating of course, but assuming one of these 2 are the partners, I wonder if this explains the delayed launch...

Choice Hotels goes hostile in $8 billion takeover bid for Wyndham after being repeatedly rebuffed

https://apnews.com/article/choice-hotels-wyndham-hostile-takeover-43171a4519287a82ec71978c03ce1d6d

Typically rewards programs (including transfer partners who are already signed up) are not changed until after a merger is completed.

Re: New Wells Fargo Rewards “Points Transfer” coming soon

MyATLFico — Sun, 17 Dec 2023 03:58:12 GMT

@LADave wrote:
@MyATLFico wrote:
I'm speculating of course, but assuming one of these 2 are the partners, I wonder if this explains the delayed launch...

Choice Hotels goes hostile in $8 billion takeover bid for Wyndham after being repeatedly rebuffed

https://apnews.com/article/choice-hotels-wyndham-hostile-takeover-43171a4519287a82ec71978c03ce1d6d
Typically rewards programs (including transfer partners who are already signed up) are not changed until after a merger is completed.

Well that's sort of my point.

Since the rewards program technically hasn't launched, assuming Choice Hotels is the partner, maybe they agreed with Wells Fargo to put things on hold until this whole merger / acqusition ordeal with Wyndham is resolved.

And it could very well work out to both of their benefit in the end, as having access to the massive Wyndham portfolio would have a material impact on the scale, desirability and competitiveness of the eventual rewards program.

But again, this is all baseless speculation. I could be way off base.

Re: New Wells Fargo Rewards “Points Transfer” coming soon

LADave — Sun, 17 Dec 2023 07:31:38 GMT

@MyATLFico wrote:
Since the rewards program technically hasn't launched, assuming Choice Hotels is the partner, maybe they agreed with Wells Fargo to put things on hold until this whole merger / acqusition ordeal with Wyndham is resolved.

And it could very well work out to both of their benefit in the end, as having access to the massive Wyndham portfolio would have a material impact on the scale, desirability and competitiveness of the eventual rewards program.

But again, this is all baseless speculation. I could be way off base.

I can't imagine any bank, no matter how large or small, putting an entire rewards program on hold after their partners have signed their commitments because one of them is trying to take over a competitor. Especially when Wells Fargo is likely going to spend tens of millions of dollars (or more) in 2024 on promoting new cards, and a successful launch could mean billions of dollars in extra profits over the coming years. It would be easier for them to drop a problematic partner than to delay the whole thing by an indefinite amount of time.

Credit card rewards points programs (think Amex, Chase, Capital One, etc.) have multiple partners, so even if Choice is signed up to be a transfer partner for Wells Fargo Rewards (and not just their co-branded cards), WF will have other transfer partners even if they're having issues with Choice.

It's much more likely that this has something to do with new personal and business cards that are coming up - one of which has been confirmed to be coming out next year (Autograph Journey), and to take time to do a proper launch of their new credit card and rewards products.

Re: New Wells Fargo Rewards “Points Transfer” coming soon

MyATLFico — Mon, 18 Dec 2023 21:17:23 GMT

@LADave wrote:
@MyATLFico wrote:
Since the rewards program technically hasn't launched, assuming Choice Hotels is the partner, maybe they agreed with Wells Fargo to put things on hold until this whole merger / acqusition ordeal with Wyndham is resolved.

And it could very well work out to both of their benefit in the end, as having access to the massive Wyndham portfolio would have a material impact on the scale, desirability and competitiveness of the eventual rewards program.

But again, this is all baseless speculation. I could be way off base.
I can't imagine any bank, no matter how large or small, putting an entire rewards program on hold after their partners have signed their commitments because one of them is trying to take over a competitor. Especially when Wells Fargo is likely going to spend tens of millions of dollars (or more) in 2024 on promoting new cards, and a successful launch could mean billions of dollars in extra profits over the coming years. It would be easier for them to drop a problematic partner than to delay the whole thing by an indefinite amount of time.

Credit card rewards points programs (think Amex, Chase, Capital One, etc.) have multiple partners, so even if Choice is signed up to be a transfer partner for Wells Fargo Rewards (and not just their co-branded cards), WF will have other transfer partners even if they're having issues with Choice.

It's much more likely that this has something to do with new personal and business cards that are coming up - one of which has been confirmed to be coming out next year (Autograph Journey), and to take time to do a proper launch of their new credit card and rewards products.

A few things, because a lot of what you're saying doesn't sound logical to me either.

1. As far as "promoting" this, the only thing Wells Fargo has done so far was include a blurb in the statements of current Autograph card holders about it debuting on 11/15. Realistically, how much did that really cost them? My guess would be not much.

2. Common sense, to me, would be they'd want all of their transfer partners to debut in-sync with each other for a smooth launch, instead of having to stagger them.

3. I find it hard to believe a bank as huge and sophisticated as Wells Fargo wasn't already planning these other Autograph products months or even years before now. So I struggle to attribute that as the reason for what seems to be an unexpected delay in debuting these transfer partner programs.