Chase Sapphire Preferred vs. Wells Fargo Autograph Card [2024]

It’s a classic debate — paying an annual credit card fee to receive more benefits versus not.

Today’s card comparison pairs up 2 popular cards that are perfect examples representing both sides of this argument.

The Chase Sapphire Preferred^® Card has a $95 annual fee which is easily offset by its numerous benefits. The Wells Fargo Autograph℠ Card doesn’t charge an annual fee yet offers a robust earning structure plus several useful benefits (rates & fees).

Next, we’ll look at both options to determine if an annual fee card can provide outsized value or if it’s best to avoid paying an annual fee altogether.

Chase Sapphire Preferred Card vs. Wells Fargo Autograph Card — Overview

Before we get into the specifics, here’s an overall card comparison summary with the basics of the Chase Sapphire Preferred card and Wells Fargo Autograph card:

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The Value of a Welcome Offer

Once you’re approved for either the Chase Sapphire Preferred card or the Wells Fargo Autograph card, you’ll have the opportunity to qualify for a welcome bonus.

Welcome bonuses on our featured cards can be worth several hundred dollars and can be earned after meeting the specified minimum spending requirements. It’s a great chance to earn a large number of rewards in a short time.

Here are our featured cards’ current welcome offers and associated card information:

Rates & Fees

The Wells Fargo Autograph Card offers great 3x bonus points and cell phone protection with no annual fee.

Learn More(at Wells Fargo’s secure site)

The Wells Fargo Autograph Card offers great 3x bonus points and cell phone protection with no annual fee.

APR

0% intro APR for 12 months from account opening on purchases, 20.24%, 25.24%, or 29.99% variable APR thereafter.

Good to Excellent (670-850)

Card Highlights

• Select “Learn More” to take advantage of this specific offer and learn more about product features, terms and conditions.
• Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months – that’s a $200 cash redemption value.
• Earn unlimited 3X points on the things that really add up – like restaurants, travel, gas stations, transit, popular streaming services, and phone plans. Plus, earn 1X points on other purchases.
• $0 annual fee.
• 0% intro APR for 12 months from account opening on purchases. 20.24%, 25.24%, or 29.99% variable APR thereafter.
• Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
• Redeem your rewards points for travel, gift cards, or statement credits. Or shop at millions of online stores and redeem your rewards when you check out with PayPal.
• Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature^® Concierge.

Financial Snapshot

• APR: 0% intro APR for 12 months from account opening on purchases, 20.24%, 25.24%, or 29.99% variable APR thereafter.
• Foreign Transaction Fees: None

Card Categories

Bottom Line:

Earning Potential

One key element of selecting a credit card is its earning potential. The Chase Sapphire Preferred card earns Ultimate Rewards points, while the Wells Fargo Autograph card earns Wells Fargo Rewards points.

Next, we’ll discuss the differences in these reward points at redemption time. But first, we’ll examine how you can earn points on our featured cards.

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The Chase Sapphire Preferred card will align well with your spending if your mix includes travel purchased via Chase Travel, dining, online groceries, and select streaming services. The card also offers a 10% points rebate each year based on the total points earned during that year.

The Wells Fargo Autograph card earns well on all travel, transit, gas stations, dining, select streaming services, and phone plans.

Strictly looking at earning potential, each featured card shows up well. The better card for earning will depend on how your actual spending matches each card’s bonus categories.

While earning potential is important, the value of your rewards at redemption time dictates the true value. Next, we look at redemption options and the potential value you could receive.

Bottom Line:

Redemption Options

At redemption time, the Chase Sapphire Preferred card and Wells Fargo Autograph card have several options.

First, let’s look at the choices you’ll have then talk about the value of each selection.

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While the numbers may change, currently, Chase has 14 transfer partners, including 11 airlines and 3 hotel programs. The Wells Fargo transfer partners include 5 airlines and 1 hotel program.

While you’ll have greater options for transferring your points with Chase, the 5 Wells Fargo airline partners provide access to book with all 3 major airline alliances. We expect the number of Wells Fargo transfer partners to increase, but now, it’s a factor to consider.

We value Chase Ultimate Rewards points at about 2 cents each. It’s also possible to realize this level of value using Wells Fargo transfer partners.

One sweet spot with Wells Fargo is the transfer ratio of 1 Wells Fargo Rewards point to 2 Choice Privileges points. You can book some fine Choice Hotels for 20,000 points per night.

World of Hyatt, one of Chase’s hotel transfer partners, also offers the potential for outsized value and is popular with points/miles enthusiasts.

If you do not utilize transfer partners (one of the best options for redeeming rewards), Ultimate Rewards points can be redeemed for travel at 1.25 cents each via Chase Travel, and Wells Fargo Rewards can be redeemed for travel at 1 cent each via Wells Fargo.

Bottom Line:

Travel Protections and Benefits

Travel protections can provide must-needed assistance should something go wrong during your trip. Additionally, travel benefits can save you money or deliver perks during your journey.

Here are the travel protections and benefits on the Chase Sapphire Preferred card and Wells Fargo Autograph card:

Travel Protections

• Auto Rental Collision Damage Waiver — Reserve and pay for your entire rental with either card and decline the rental agency’s CDW/LDW insurance to receive a collision damage waiver.
  • The Chase Sapphire Preferred card provides primary coverage. Primary coverage means you do not have to file a claim with other applicable insurance before card coverage applies.
  • The Wells Fargo Autograph card also offers primary coverage outside the U.S. (even if you have other insurance) and secondary coverage within the U.S.
• Roadside Dispatch — For a low prearranged service fee, you can receive limited towing, standard winching, tire changing of your inflated spare, lockout service, jumpstarting, and emergency fuel delivery.

Travel Benefits

• Visa Signature Luxury Hotel Collection Benefits — Since both of our featured cards are Visa Signature cards, cardholders can access Visa Signature elite-style hotel benefits. Book a stay with your card and receive a room upgrade at arrival (when available) and complimentary breakfast for 2. In addition, free Wi-Fi, VIP guest status, late checkout on request (when available), and a $25 food/beverage credit are included.
• No Foreign Transaction Fees — This can be a travel or shopping benefit. Foreign purchases made with either card will not be subject to foreign transaction fees, which can average 3% of the total transaction. For the rates and fees of the Wells Fargo Autograph card, click here.
• Visa Signature Concierge — Cardholders gain member-only access and presale ticket privileges for concerts, culinary experiences, performances, sporting events, and more.
• Travel and Emergency Assistance Services — Receive help with arranging emergency transportation, translation services, legal/medical referrals, travel planning, and more. Cardholders are responsible for the cost of actual services received.

Chase Sapphire Preferred Card

These additional protections and benefits are found only on the Chase Sapphire Preferred card:

• Trip Cancellation and Trip Interruption — Pay for a portion of your trip with your card or Ultimate Rewards points and receive coverage if your trip needs to be canceled or disrupted for a covered reason. The coverage limits are $10,000 per covered person and up to $20,000 per covered trip.
• Trip Delay — If your trip is delayed for a covered reason, you could receive up to $500 reimbursement for eligible incidentals.
• Baggage Insurance — If your bags are lost, stolen, or damaged, you could receive up to $3,000 per person. If bags are delayed more than 6 hours, you could receive up to $100 per day reimbursement, a maximum of $500, for covered incidentals.
• $50 Hotel Credit — Book your hotel stay via Chase Travel and receive a $50 statement credit.

Bottom Line:

When you use the Chase Sapphire Preferred card or Wells Fargo Autograph card for shopping, you’ll receive protection that can provide economic value should something go wrong with your eligible purchase.

Shopping benefits allow you to save money on select purchases, utilize discounted offers from associated merchants, or help you earn additional rewards.

Here are the top shopping protections and benefits offered on our featured cards:

Chase Sapphire Preferred Card

• Purchase Protection — Pay for an eligible item with your card and receive coverage for damage or theft for up to 120 days from the purchase date. Coverage is limited to $500 per item, up to $10,000 per account.
• Extended Warranty — For eligible items having manufacturer’s warranties of 3 years or less, the warranty coverage will be extended for 1 additional year.
• DoorDash DashPass — Activate this perk by December 31, 2024, and receive a complimentary 12-month membership, associated benefits, plus $5 in monthly credits.
• Instacart+ Credit — Register your card by July 31, 2024, and receive a complimentary 6-month membership and up to $15 in quarterly credits.
• Chase Offers — Choose the retail merchant and service provider offers you like from your online card account, make the required purchase, and receive additional rewards.

Wells Fargo Autograph Card

• Cell Phone Protection — Pay your monthly cell phone bill with your card and receive protection for damage or theft, including repair or replacement, for up to $600 per claim. There is a limit of 2 claims, up to $1,200 total per 12-month period, and a $25 deductible per claim.
• Introductory APR on Purchases — Save money on purchases by paying over time and not incurring interest charges with a 0% intro APR for 12 months from account opening on purchases, 20.24%, 25.24%, or 29.99% Variable APR thereafter.
• My Wells Fargo Deals — Offers from select retailers and service providers can be found in your online card account. Choose the offers you like, make the required purchase, and earn additional rewards.

Bottom Line:

Annual Fees and Authorized Users

We mentioned the debate earlier as to whether it’s better to pay an annual fee and receive more benefits or not to pay an annual fee at all.

The Chase Sapphire Preferred card charges an annual fee of $95. However, the annual fee can become a non-issue if you use just a few of the card’s benefits. For example, the $50 hotel credit covers over half the fee.

The Wells Fargo Autograph card has a $0 annual fee but does not have some key travel insurance benefits such as trip cancellation, interruption, and delay coverage. The card does have a robust earning structure and valuable cell phone protection.

Purchases made by authorized users can help you earn rewards faster. Neither card charges a fee to add additional users.

Final Thoughts

The Wells Fargo Autograph card might be the best choice if you’re looking for a no-annual-fee spending card that earns well on most everyday purchases. Additionally, the card has several useful travel/shopping benefits, especially cell phone protection.

At redemption time, the Chase Sapphire Preferred card is the winner. The card offers the flexible option of transferring to over a dozen travel partners plus points redeemed with Chase Travel have a value of 1.25 cents each. Points have just 1 cent in value with the Wells Fargo Autograph card when redeemed for travel via Wells Fargo.

Either card could be valuable for the right cardholder. The Chase Sapphire Preferred card’s low annual fee can be worth it for the extra travel insurance and greater redemption options. The Wells Fargo Autograph card can also be a good choice if you’re set on not paying an annual fee.