Personal Finance News
Wyndham Launches Rewards Debit Card Powered by Galileo
In a twist, the popular hotel brand Wyndham is unveiling not a new rewards credit card but a co-branded rewards debit card.
About the Wyndham Rewards Debit Card:
This week, Wyndham announced the launch of the Wyndham Rewards Debit Card — which it says is an industry first for major hospitality brands in the United States. In contrast to the Wyndham Earner credit cards, which are issued by Barclays, this new debit product is powered by SoFi-owned technology platform Galileo and issued by Sunrise Banks.
With the new card, customers can earn 1x Wyndham Rewards points on eligible purchases at Hotel by Wyndham properties. Additionally, the card earns 1x on gasoline purchases and 1x on groceries. However, all other purchases earn 1 point for every $2 spent.
As for other perks, Wyndham Rewards Debit Card customers enjoy complimentary Wyndham Rewards Gold status. In turn, they can take advantage of accelerated point earning, preferred room choice, late checkout, and more. Additionally, cardholders can earn an annual bonus of up to 7,500 on their cardmember anniversary. This bonus is tiered based on annual spending, breaking down as such:
- 2,500 Points: $5,000.00 – $9,999.99 spent
- 5,000 Points: $10,000.00 – $14,999.99 spent
- 7,500 Points: $15,000.00.00 and more spent
To mark the launch of the card, Wyndham is offering a special welcome bonus. New cardholders can earn 2,500 Wyndham Rewards bonus points when they complete at least two direct deposits and spend $100 within their first 90 days of opening their account.
One important note is that the Wyndham Rewards Debit Card will carry a $6 monthly fee. However, this can be waived for customers who maintain a minimum average monthly account balance of $2,500.
What They’re Saying:
Discussing the idea behind the new card, Wyndham Hotels & Resorts SVP of Strategic and Financial Partnership Charmaine Taylor explained, “Research continues to show a large number of travelers, particularly younger consumers such as Gen Z, prefer debit cards as their primary method of payment. Unfortunately, that means many have been left on the sidelines when it comes to earning free hotel nights and other travel rewards.”
Taylor continued, “With the Wyndham Rewards Debit Card, that’s no longer the case. Now anyone and everyone can earn points on their day-to-day purchases and in turn, enjoy meaningful rewards.”
My Thoughts:
The concept of having a hotel chain launch a rewards debit card is honestly fascinating. Plus, Wyndham happens to be a perfect company to pilot the idea since their portfolio includes a diverse roster of brands and properties.
As for whether or not this debit card is actually worth it, though, there are some definite pros and cons. Starting with the good, the welcome bonus is nice and the included status could be useful. However, the reward structure is lackluster to say the least. Worse yet, while it can be avoided by maintaining a high enough balance, the $6 monthly fee could easily be a deal breaker.
So is it worth locking up $2,500 on the Wyndham Rewards Debit Card to avoid fees while earning complimentary status? Probably not. The same goes for earning the annual bonus as you’ll need to spend at least $5,000 on the card in order to earn the first bonus tier.
Nevertheless, while this card falls a bit short, I am interested to see if co-branded debit cards could become the next big trend overall.
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