(Bloomberg) -- Wells Fargo & Co. is launching another credit card, the latest in the third-biggest US lender’s push to build out new offerings under Chief Executive Officer Charlie Scharf. 

The Wells Fargo Autograph card is the first in a group of rewards cards the firm plans to introduce, according to a statement Monday. The card, which launches throughout the US in mid-July and has no annual fee, offers three points per dollar spent on categories including restaurants, travel, gas stations and streaming services. Wells Fargo’s points are worth one cent each on the firm’s rewards platform.

“We’re starting our journey to go into the mass and mass-affluent segment with the introduction of the first of a few rewards cards,” Krista Phillips, Wells Fargo’s head of branded cards and marketing, said in an interview. “Coming out of the pandemic, travel is a really, really important category for consumers. You only have to go to the nearest airport to see that people are coming back into travel.”

Credit cards have been a key growth initiative for Scharf, who was previously CEO of Visa Inc. and earlier in his career led JPMorgan Chase & Co.’s retail-banking arm. Wells Fargo should have an advantage with its massive branch network -- among the the largest of any US bank -- but its customers have long chosen cards from rivals such as JPMorgan, Citigroup Inc. and American Express Co. 

Scharf has repeatedly taken aim at the credit-card offerings in place when he arrived, calling them “not competitive” last year. When he arrived at Wells Fargo in late 2019 he quickly made it clear that the cards would be a focus, recruiting fellow JPMorgan alum Ray Fischer out of retirement to oversee cards, retail and merchant services. The bank introduced credit cards last year aimed at competing with popular products from larger rivals.

Read more: Wells Fargo CEO Goes on Offense With New Credit-Card Lineup

©2022 Bloomberg L.P.