Award travel enthusiasts are excited about this card, which is the first from Wells Fargo to offer travel rewards that can be transferred to airline and hotel partners. Initially, the available points transfer options for airlines include Air France-KLM, Avianca, British Airways Executive Club, Aer Lingus and Iberia, as well as the Choice Privileges program at a 1:2 ratio. This card also allows you to earn points at an outstanding rate, including 5x Wells Fargo Rewards points on hotels, 4x on airlines and 3x on travel and dining.

The Wells Fargo Autograph Journey offers 5x points at all hotels and 4x points on all airline purchases. You earn 3x points at restaurants and on all other travel purchases. This card offers one point per dollar spent elsewhere.

There’s no other card on the market that offers 5x points on hotel purchases. And you can receive this even when you book your room directly with the hotel. You don’t have to make your reservations through the card issuer’s travel agency. You also receive 4x points on airlines, which can also be booked directly. Even 3x points on restaurants and other travel is very competitive for a card in this annual fee price range.

The rewards program currently features six airline transfer partners and one hotel partner. Options include British Airways, Aer Lingus and Iberia in the OneWorld Alliance, Avianca in the Star Alliance and Air France in the SkyTeam Alliance. You can also transfer points to the Choice Privileges program at the very favorable 1:2 rate.

Earns bonus points for spend in the following bonus categories:

Wells Fargo is a giant of retail banks, but it’s had a relatively small presence in the market for travel rewards credit cards, until now. With the recent introduction of the Wells Fargo Autograph Journey, it joints American Express, Chase, Capital One and Citi in the exclusive club of cards that offer rewards that can be transferred to airline miles or hotel points.

Why is this important? Most credit cards offer you about one cent in value per point redeemed, so saving up $100,000 points typically results in $1,000 worth of cash back, gift cards or travel reservations. But when you’re able to transfer your rewards to airline miles or hotel points, you could earn rewards worth far more. For example, you could transfer your Wells Fargo rewards points to miles with the Spanish carrier Iberia. You can then redeem as few as 68,000 Iberia Miles (it calls their points “Avios”), for a round-trip, business class ticket to Spain from Boston, New York or Washington D.C. Such a ticket would easily be worth at least $4,000, and few would rather have $1,000 worth of gift cards instead a business class ticket to Europe.

To compete against credit cards like the Chase Sapphire Preferred, the Capital One Venture and the Citi Strata Premier, Wells Fargo created a card that’s especially rewarding for travel purchases.

The Wells Fargo Autograph Journey offers 5x points on hotel purchases, 4x points on airline tickets and 3x points for dining and for all other travel purchases. This allows frequent travelers to earn more bonus points from this card than they could from any of its competitors. And unlike other bonus offers for travel purchases, you don’t have to use any particular travel agency – you are free to purchase your airline and hotel reservations directly, which is how most experienced travelers prefer to do it.

With a $95 annual fee, it’s an accessible card, but even that number overstates its true cost. This card is made for travelers, so it’s really easy to get the $50 annual air travel statement credit after you purchase your first ticket of at least $50. This brings the net cost of this card down to $45, which is far below it’s competitors.

So who is the Wells Fargo Autograph Journey card for?

This card makes sense for those who make a significant amount of travel purchases, and want to be rewarded as much as possible. Earning 5x at any hotel and 4x on any airline is great for so-called free agents who make decisions based on price and schedule, rather than loyalty to a particular brand. This is also a card for those who appreciate the value of having a credit card with strong travel insurance policies. For example, with trip cancellation and trip interruption protection, you’ll never incur a loss if you have to cancel a trip due to covered reasons, ranging from illness to jury duty.

And finally, this is an ideal travel rewards card for those who already have a banking relationship with Wells Fargo. When you have a credit card issued by the same bank where you have checking, savings or other accounts, you’re able to manage everything in one place, and payments are instantly credited.