Wells Fargo Targets Credit-Card Reward Addicts
Photographer: Scott Eells/Bloomberg
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Wells Fargo & Co. is finally going after the young and points-hungry by boosting rewards on one of its premium cards.
Two years after JPMorgan Chase & Co. launched an arms race in credit-card rewards with its Sapphire Reserve card, Wells Fargo will now offer three points per dollar spent on dining, travel and streaming services such as Netflix on its Propel card. Other purchases will earn one point per dollar, and points are redeemable at one cent per point.