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One Key+™ Card: Great for the deal-hunting traveler

 /  16 min
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Snapshot

3.8

Bankrate rating
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Rating: 3.8 stars out of 5

Bottom line

Savvy travelers shopping for budget deals on third-party websites will rejoice for this card’s boosted rewards rates for purchases with Expedia® and its partners. However, everyday travelers who value brand loyalty and flexible credit card perks will struggle to make the most of this card.

Best for One Key fans
  • Rewards value
    Rating: 5 stars out of 5
    5 / 5
    APR
    Rating: 3 stars out of 5
    3 / 5
    Rewards flexibility
    Rating: 2 stars out of 5
    2 / 5
    Features
    Rating: 3 stars out of 5
    3 / 5
Good to Excellent (670 – 850)
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Recommended Credit

Earn $400 in OneKeyCash™

Intro offer

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2% - 3%

Rewards rate

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$99

Annual fee

19.74%, 24.74%, or 29.74% Variable APR

Regular APR

Wells Fargo One Key+ Card overview

The Wells Fargo One Key+ Card is an ideal pick for travel enthusiasts who aren’t tied to brand loyalty with a specific airline or hotel and want to shop around for the best deal — particularly if the best deal is found with Expedia® and its partnering brands, Vrbo® and Hotels.com®. Booking travel directly can often be an expensive pursuit, made more lucrative with loyalty rewards, points and miles. If you’re comfortable setting aside those extra perks in order to spend less money, then you might consider third-party merchants like Expedia. This is where the One Key+ Card comes in.

The One Key+ rewards generously for everyday purchases and Expedia, Vrbo and Hotels.com purchases. The caveat is that rewards come as OneKeyCash™, which must be redeemed on Expedia and partnering brands. If you don’t use these services (or don’t plan to) you can’t make the most of this card. However, it will prove to be a great addition to your wallet if you’re an Expedia regular because it has a generous anniversary credit and automatic Gold tier status in the One Key Rewards program.

  • Credit Card With Dollar Sign Icon

    Rewards

    • Earn 3 percent back in OneKeyCash™ for purchases using Expedia, Hotels.com and Vrbo.
    • Earn 3 percent back in OneKeyCash for purchases at gas stations, grocery stores and dining.
    • Earn 2 percent back in OneKeyCash on other purchases. 

    Expert Appraisal: Good
    See our expert analysis

  • Rewards Icon

    Welcome offer

    • Earn $400 in OneKeyCash™ after you spend $3,000 on purchases in the first three months.

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Search Icon

    Rates and fees

    • Annual fee: $99
    • Foreign transaction fee: None
    • Late payment fee: Up to $40
    • APR: 19.74%, 24.74%, or 29.74% Variable APR
    • Balance transfer fee: Up to 5 percent ($5 minimum)

    Expert Appraisal: Typical
    See our expert analysis

  • Congrats Icon

    Other cardholder perks

    • Annual $100 OneKeyCash credit each year upon your cardholder anniversary
    • Statement credit of up to $120 for Global Entry® or TSA PreCheck®
    • Automatic Gold tier in the One Key rewards program

    Expert Appraisal: Exceptional
    See our expert analysis

One Key+ Card pros and cons

Pros

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    Highly rewarding for travel enthusiasts who shop around on third-party websites for travel packages.

  • Checkmark Icon

    The value of its OneKeyCash annual credit on your cardholder account anniversary can make the annual fee worthwhile for fans of Expedia, Vrbo and Hotels.com.

Cons

  • Its annual fee will be difficult to justify if you don’t use Expedia, Vrbo or Hotels.com regularly.

  • Lacks intro APR offers for balance transfers and new purchases, making it a poor choice for debt management.

  • Its restrictive redemption options will make it hard for everyday cardholders to access rewards.

  • You won’t earn airline miles or hotel points, which are sometimes more valuable than credit card rewards.

Why you might want the One Key+ Card

The One Key+ Card is a unique entry into the travel card landscape because it generously rewards purchases that are popularly excluded on most travel cards: third-party travel sites like Expedia. If you shop around for deals on Expedia, Vrbo or Hotels.com, this card carries a lot of value without a substantial fee.

Rewards: Boosted rates in several purchase categories

The One Key+ Card offers a ton of value for customers who shop with Expedia, Vrbo and Hotels.com. It’ll also prove valuable for foodies who dine out and cook at home often, but it isn’t the best pick for those categories. However, if you’re looking for a card that will help you leverage your everyday spending into a travel rewards strategy focused on the savings that Expedia and its partner sites offer, this card is the perfect choice.

Your rewards are limited to a singular redemption option: OneKeyCash, which is redeemed exclusively for purchases on Expedia, Vrbo and Hotels.com. Although this is a restrictive program, if you already use those services and are looking at this card because you want to earn rewards for purchases you make with those services, then this card won’t be too limiting for you. However, if you shop through airlines or hotels directly, the rewards exclusivity for the third-party services won’t be a benefit for you and you should consider a more flexible rewards card.

Welcome offer: Decent bonus for initial spending

This card’s welcome offer is fair for its low spending requirement, although it may not be as valuable as some competing travel credit cards’ offers. On a card with a $95 or $99 annual fee, you might expect to spend $4,000 in your first three months to earn a credit card bonus that varies in value from $500 to $750.

The One Key+ Card only requires you to spend $3,000 in your first three months to earn a welcome offer worth $400 in OneKeyCash, which you can only use on Expedia, Vrbo or Hotels.com purchases. This is a fairly decent offer considering $400 in OneKeyCash is enough to cover some hotel stays or a solid chunk of airfare, but some similarly-priced travel cards pack more value in exchange for a somewhat higher spending requirement. The only downside is that you have limited options for redeeming your OneKeyCash, but if that’s not an issue for you this offer provides a 20 percent return for your spending, which is what you should normally expect from a welcome offer.

Perks: Make the card easily worth it

You won’t need to lean on just your annual rewards earnings to make the card worth it. Every year on your account anniversary, you'll receive a $100 OneKeyCash anniversary credit. This credit, along with the rest of your rewards earnings and welcome offer, will go directly into your OneKeyCash balance. This makes the card a lucrative pick for devoted Expedia, Vrbo and Hotels.com customers.

You’ll also qualify for the Gold tier in the One Key rewards program, which is Expedia’s rewards program offering unique perks and benefits for members across varying membership tiers. As a Gold member, you’ll qualify for the following:

  • Save 20 percent or more with Gold Member Prices on over 10,000 hotels worldwide
  • Priority traveler support
  • An extra perk when you stay at select VIP Access properties, such as food and beverage extras
  • Room upgrades when available at VIP Access properties
  • One Key Price Drop Protection at no additional cost on select flights on the Expedia app

Why you might want a different rewards card

If you don’t use Expedia, Vrbo or Hotels.com you really can’t make the most of this card and should look elsewhere. You can only redeem your OneKeyCash through those three providers. It’s also missing intro APR offers, so it lacks value outside of its restrictive rewards program.

Redemptions: Restrictive redemptions limit rewards value

You cannot redeem OneKeyCash—this card’s rewards currency—for cash and can only use it on Expedia®, Hotels.com® and Vrbo®. Although this card has a strong rewards rate and substantial welcome offer, its rewards currency is notably inflexible so it might lack value for a majority of travel rewards enthusiasts.

On top of its already restrictive redemption terms, the One Key+ card doesn’t even allow you to redeem for cash, which is a feature widely available on other rewards cards. Even though you’ll typically exchange points for cash at a lower exchange rate, it's a flexible and consumer-friendly benefit that helps cardholders make the most of their rewards earnings.

You’ll only be able to access your OneKeyCash if you use Expedia, Vrbo or Hotels.com. This limitation can be a thorn in your side if you want to plan a trip outside of these third-party providers. For a less rigid rewards program, consider another travel rewards credit card. Many alternatives have flexible redemption options to help you access the rewards you spent hard to earn.

Intro APR: No interest-free period

Although not everyone can benefit from an interest-free period provided by introductory APRs on purchases, balance transfers or both, it’s still a welcome feature on any credit card. The One Key+ card skips this feature. This exclusion makes it a poor choice if you have current debt you’re willing to transfer or if you have some big purchases coming up you’re hoping to save on interest.

Many rewards and cash back cards have intro APR periods of up to 15 months, sometimes longer. These offers allow you to skip interest on purchases and balance transfers, so they’re often a valuable lifeline when your budget is thin but your needs are high. If you want to explore options for cards with intro APRs, consider some of the top low interest credit cards or a handful of the best rewards credit cards. Many of the cards on both of those lists are there because they provide value, convenience and affordability. 

Annual fee: May not be worth it for occasional travelers

Expedia and other third-party travel websites provide access to budget-friendly travel deals for savvy shoppers who find ways to save on every leg of their travel itinerary. If you’re a cost-conscious traveler who uses these websites, you might be skeptical of a credit card’s annual fee.

The One Key+ card’s annual fee is not much higher than competing cards’ annual fees, and it shouldn’t be too hard to justify because the value of the annual anniversary credit makes the annual fee worthwhile, plus the card has generous rewards rates. However, an annual fee reflects a spend-oriented credit card strategy, which is adverse to a saving strategy that would normally drive someone to providers like Expedia in place of paying first-party prices directly through airlines or hotel chains.

Unless you’re among the most devoted Expedia, Vrbo or Hotels.com customers, you might want to skip this card because of its high annual fee. However, if you’re already poised to spend at least $100 at any of the above providers, the card’s annual $100 OneKeyCash credit will help justify the card’s annual fee every account anniversary.

First-year value vs. ongoing value

The most rewarding cards typically offer generous welcome offers for your initial spending, but these offers can distract from the value the card will bring to your wallet on an ongoing basis. The chart below will help you sift through the monetary benefits of the One Key+ Card and give you an idea of how rewarding it can be year-to-year.

The card has a first-year value of just over $900, assuming you secure your welcome offer and make the most of your rewards categories and its Global Entry/TSA PreCheck statement credit. However, the ongoing value dips to just over $600 every following year (with the same spending patterns). Although the card — like any credit card with a welcome offer — is less rewarding after your first year with it, you have the added benefit of an annual anniversary credit that can recoup the cost of the annual fee.

Benefits and Costs First-year value Ongoing value (no welcome offers)
Yearly rewards* +$585 +$585
Welcome offers +$400 OneKeyCash (when you spend $3,000 on purchases in your first three months)
Perks (of monetary value)

**+$30 (Up to $120 Global Entry or TSA PreCheck credit every four years)

+$100 (Anniversary credit)

+$30 (Up to $120 Global Entry or TSA PreCheck credit every four years)
Annual fee -$99 -$99
Total $916 $616

* Yearly rewards are calculated using an assumed annual spend of $22,500 based on average consumer spending from the Bureau of Labor Statistics.

** Yearly value assumed based on the cost Global Entry, which is $120 (which includes TSA PreCheck) 

How the One Key+ Card compares to other rewards cards

Travel cards are typically the most competitive of all credit cards, so you’re likely to find more incentives, perks and generous rewards rates on them. But sometimes the most understated benefits of a travel card are its convenience and flexibility.

The One Key+ is a unique entry into the landscape and compares favorably to some of the top travel cards because of its perks and boosted rewards rates. However, its niche redemption option makes it an inflexible option that might not appeal to most travel enthusiasts. 

Image of One Key+™ Card

Annual fee

$99

Intro offer

Earn $400 in OneKeyCash™
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Rewards rate

2% - 3%
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Recommended Credit Score

Good to Excellent (670 – 850)
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Bankrate Score
Apply now Lock Icon
on Chase's secure site

Annual fee

$95

Intro offer

$300 Chase Travel℠ Credit + 60,000 bonus points
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Rewards rate

1x - 5x
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Recommended Credit Score

Good to Excellent (670 – 850)
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Image of Capital One Venture Rewards Credit Card

Annual fee

$95

Intro offer

75,000 miles
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Rewards rate

2 Miles - 5 Miles
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Recommended Credit Score

Good to Excellent (670 – 850)
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Best cards to pair with the One Key+ Card

This card earns boosted rewards in several key spending categories and a flat rate for other purchases but restricts those rewards to a single redemption method. The best pairing with this card will be one that includes car rental insurance, cell phone protection or other perks that are missing on the One Key+. You might also want to avoid additional annual fees since you’re already paying for the One Key+ card.

Who is the One Key+ Card right for?

The One Key+ Card is really only going to benefit people who don’t book travel directly and don’t mind losing flexibility in exchange for the chance to hunt for travel deals.

Bankrate’s Take — Is the One Key+ Card worth it?

The One Key+ Card is worth it if your main concern when shopping for travel arrangements is price. Third-party booking services sometimes have better deals than you’ll find when booking directly, although you may have fewer protections. If you are familiar with Expedia, Vrbo and Hotels.com and are comfortable using these services for all of your travel arrangements, the One Key+ is a great card and exactly what you need to start cashing in on travel rewards you might have missed out on with other travel cards.

However, if you enjoy navigating credit card reward portals and the option to transfer your credit card rewards to partner airlines and hotels, you’ll want to skip the One Key+ card because its restrictive rewards program consolidates your points in a rewards program that only allows you to use a handful of third-party travel vendors. 

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.

How we rated this card

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150+
cards rated
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50+
rewards programs valued
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1800
data points analyzed
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40+
perks evaluated

We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.

Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest). 

We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:

Frequently asked questions

Written by
Brendan Dyer
Associate Editor, Credit Cards
Brendan Dyer holds a Master of Fine Arts in Journalism from Western Connecticut State University and worked previously as a content editor for Regional News Network, a hyper-local TV news station contracted by Verizon FiOS1 News. As a national service volunteer, Brendan exercised a passion for helping underserved communities and demographics through direct, community service. He constantly seeks to apply his expertise as a journalist to the field of personal finance with the goal of helping people navigate the complexities of the credit card industry.
Edited by Senior Editor, Credit Cards

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.