EXPEDIA GROUP, WELLS FARGO AND MASTERCARD ANNOUNCE NEW SUITE OF ONE KEY CREDIT CARDS

Rhea-AI Summary

Expedia Group, Wells Fargo, and Mastercard have announced a multi-year partnership to launch two new co-branded credit cards: the One Key™ Card and One Key+™ Card. These cards are designed to enhance Expedia Group's One Key™ loyalty program by offering rewards, tier upgrades, and travel perks. Cardholders can earn OneKeyCash™, which can be used for bookings on Expedia, Hotels.com, and Vrbo. The One Key Card offers $400 in OneKeyCash for a $1,000 spend in three months, while the One Key+ Card offers $600 for a $3,000 spend. Both cards provide instant tier upgrades, travel protections, and no foreign transaction fees. The cards will be available later this summer, with existing Hotels.com cardholders transitioning to the no-annual-fee One Key Card in September.

Positive

• Expedia Group introduces new co-branded credit cards with Wells Fargo and Mastercard.
• One Key™ Card and One Key+™ Card enhance the One Key™ loyalty program.
• Cardholders can earn up to $600 in OneKeyCash™ rewards.
• No foreign transaction fees for both cards.
• Instant tier upgrades for cardholders: One Key Silver and One Key Gold.
• Additional travel protections and perks included.

Negative

• Both cards have specific spending requirements to earn introductory rewards ($1,000 and $3,000 in three months).

Instant One Key tier upgrades, OneKeyCash™ introductory offers and generous earn rates on everyday purchases for cardholders

NEW YORK, July 12, 2024 /PRNewswire/ -- Expedia Group, Inc. (NASDAQ: EXPE) announces a multiyear agreement with Wells Fargo (NYSE: WFC) and Mastercard (NYSE: MA) to launch two new co-branded credit cards. Designed to complement One Key™, Expedia Group's groundbreaking loyalty program, the One Key™ Card and One Key+™ Card will both offer more flexibility, savings and perks for U.S. travelers.

Launching with all types of travelers in mind, the One Key Cards offer a host of benefits, including the ability to earn rewards as OneKeyCash™, which can be used across Expedia®, Hotels.com® and vacation rental site Vrbo® to book eligible hotels, vacation rentals, car rentals, activities and flights.*

 "As we celebrate one year of One Key launching in the U.S., we are excited to offer travelers the new One Key credit cards, further delivering on our mission to make travel more rewarding and flexible, and helping travelers achieve higher tiers for more rewards, faster," said Katrina Lane, SVP, Traveler Engagement & Loyalty, Expedia Group. "The new credit cards will enhance our unique travel rewards program that lets members earn and redeem OneKeyCash across eligible Expedia, Hotels.com and Vrbo bookings."

In addition to earning OneKeyCash rewards, the currency used across Expedia, Hotels.com, and Vrbo apps, on Expedia Group purchases and everyday purchases, One Key and One Key+ cardholders will instantly jump to One Key Silver tier and One Key Gold tier, respectively. With these automatic tier upgrades, travelers can unlock savings of 15% and 20% or more on over 10,000 hotels worldwide, as well as receive priority travel support and in-stay perks such as food and beverage extras or complimentary room upgrades when available at select VIP Access properties.

One Key cardholders will enjoy the following features and benefits:

One Key+ Card (terms apply)

One Key Card (terms apply)

$99 Annual Fee Earn $600 in OneKeyCash after spending $3,000 on purchases in the first three months. Earn 3% in OneKeyCash on Expedia, Hotels.com, and Vrbo. When combined with One Key benefits, Platinum tier members earn 9% on Expedia and Hotels.com when booking VIP Access properties, and 5% on Vrbo.** Earn 3% in OneKeyCash at gas stations, grocery stores, and on dining. Earn 2% in OneKeyCash on all other purchases. Automatic Gold tier Path to next tier: Unlock Platinum when you spend $30,000 per calendar year. Get $100 in OneKeyCash each cardholder anniversary. Receive a statement credit of up to $100 for Global Entry® or TSA PreCheck®. No foreign transaction fees Cell phone protection Trip protections: Trip Cancellation and Interruption Auto Rental Collision Damage Waiver Common Carrier Travel Accident Insurance Additional Mastercard World Elite benefits include: advanced security features including Mastercard ID Theft Protection, Zero Liability Protection, and Global Services for emergency assistance

No Annual Fee Earn $400 in OneKeyCash after spending $1,000 on purchases in the first three months. Earn 3% in OneKeyCash on Expedia, Hotels.com, and Vrbo. When combined with One Key benefits, Platinum tier members earn 9% on Expedia and Hotels.com when booking VIP Access properties, and 5% on Vrbo.** Earn 3% in OneKeyCash at gas stations, grocery stores, and on dining. Earn 1.5% in OneKeyCash on all other purchases. Automatic Silver tier Path to next tier: Unlock Gold when you spend $15,000 per calendar year. No foreign transaction fees Cell phone protection Trip protections: Trip Cancellation and Interruption Auto Rental Collision Damage Waiver Common Carrier Travel Accident Insurance Additional Mastercard World Elite benefits include: advanced security features including Mastercard ID Theft Protection, Zero Liability Protection, and Global Services for emergency assistance

"We're excited to enter a new era with Expedia Group and Mastercard to bring the One Key Cards to market," said Krista Phillips, EVP, Head of Consumer Credit Cards and Consumer Lending Marketing, Wells Fargo. "The program is uniquely designed to offer immediate value to our customers through instant discounts, enhanced perks and accelerated rewards."

Both cards start accepting applications nationally later this summer. Existing Hotels.com cardholders will be notified of the changes to their card beginning today, and should use their current card to continue earning OneKeyCash until they receive their new no-annual-fee One Key Card in September.

Consumers who apply for the One Key Card can earn $400 in OneKeyCash after spending $1,000 on purchases in the first three months; approved One Key+ cardholders can earn $600 in OneKeyCash after spending $3,000 on purchases in the first three months (terms apply).

"Consumers are continuing to prioritize experiences over material goods, and with that, have a growing desire to travel," said Chiro Aikat, Co-President, U.S., Mastercard. "We're delighted to partner with Expedia Group and Wells Fargo to help consumers unlock meaningful travel opportunities. With the launch of both One Key Cards, we're helping consumers make the most of their trips through enhanced loyalty benefits and choice."

*OneKeyCash is not redeemable for cash.

**Excludes taxes and fees. U.S. vacation rentals only. Earn rates will not apply in conjunction with any other OneKeyCash offer.

EDITOR'S NOTE 

For more information about One Key, visit www.expedia.com/welcome-one-key.

For more information, visit www.expedia.com/one-key-cards-launch.

About Expedia Group

Expedia Group, Inc. (NASDAQ: EXPE) brands power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. Our organization is made up of three pillars: Expedia Brands, housing all our consumer brands; Expedia Product & Technology, focused on the group's product and technical strategy and offerings; and Expedia for Business, consisting of business-to-business solutions and relationships throughout the travel ecosystem.

Expedia Group's three flagship consumer brands include: Expedia®, Hotels.com®, and Vrbo®. One Key™ is our comprehensive loyalty program that unifies Expedia, Hotels.com and Vrbo into one simple, flexible travel rewards experience. To enroll in One Key, download Expedia, Hotels.com and Vrbo mobile apps for free on iOS and Android devices. One Key is currently available in the U.S. and will become available globally soon.

For more information, visit www.expediagroup.com. Follow us on X @expediagroup and check out our LinkedIn: www.linkedin.com/company/expedia

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune's 2024 rankings of America's largest corporations. In the communities we serve, the company focuses its social impact on building a sustainable, inclusive future for all by supporting housing affordability, small business growth, financial health, and a low-carbon economy. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. 

Additional information may be found at www.wellsfargo.com

LinkedIn: https://www.linkedin.com/company/wellsfargo

About Mastercard

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

For more information, visit www.mastercard.com.

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SOURCE Expedia Group

FAQ

What are the new One Key credit cards announced by Expedia Group?

Expedia Group announced the One Key™ Card and One Key+™ Card, co-branded with Wells Fargo and Mastercard.

What rewards do the One Key credit cards offer?

The One Key Card offers $400 in OneKeyCash™ for a $1,000 spend in three months, while the One Key+ Card offers $600 for a $3,000 spend.

Do the One Key credit cards have foreign transaction fees?

No, both the One Key and One Key+ credit cards do not have foreign transaction fees.

What are the benefits of the One Key+ Card?

The One Key+ Card offers benefits including $600 in OneKeyCash™, automatic Gold tier upgrade, travel protections, and no foreign transaction fees.

When will the One Key credit cards be available?

The One Key credit cards will start accepting applications nationally later this summer.

What happens to existing Hotels.com cardholders with the launch of One Key cards?

Existing Hotels.com cardholders will transition to the no-annual-fee One Key Card in September.