2 new Choice Hotels credit cards are now open for applications, and you could earn up to 90,000 points toward upcoming stays

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• Wells Fargo has unveiled two brand-new Choice Hotels credit cards, and applications are open now.
• The Choice Privileges Select Mastercard - Product Name Only has an annual fee of Choice Privileges Select Mastercard - Annual Fee and is offering Choice Privileges Select Mastercard - Intro Bonus.
• With no annual fee, the Choice Privileges® Mastercard® - Product Name Only is offering Choice Privileges® Mastercard® - Intro Bonus.
• Read Insider's guide to the best travel rewards credit cards. 

We've known that the discontinued Barclays Choice Privileges Visa Signature Card - Product Name Only would be replaced this month with a new no-annual-fee Choice credit card from Wells Fargo. That time has come, but there's a surprise twist that was only revealed today.

Wells Fargo has actually launched two new Choice credit cards: the Choice Privileges® Mastercard® - Annual Fee-annual-fee Choice Privileges® Mastercard® - Product Name Only, and the more premium Choice Privileges Select Mastercard - Product Name Only with an annual fee of Choice Privileges Select Mastercard - Annual Fee.

Both of these hotel credit cards come with substantial welcome bonuses and a range of benefits that appeal to travelers, including automatic elite status, cell phone protection, and World Elite Mastercard benefits. But if you don't stay with Choice Hotels often or put a high value on Choice points, you'll probably want to give these cards a skip.

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

New Choice credit cards from Wells Fargo

Both the Choice Privileges® Mastercard® - Product Name Only and Choice Privileges Select Mastercard - Product Name Only are offering elevated welcome bonuses for a limited time. Here's what new cardholders can earn:

• Choice Privileges® Mastercard® - Product Name Only: Choice Privileges® Mastercard® - Intro Bonus  (worth around Choice Privileges® Mastercard® - Featured Reward Value in stays, or up to seven free nights)
• Choice Privileges Select Mastercard - Product Name Only: Choice Privileges Select Mastercard - Intro Bonus (worth around Choice Privileges Select Mastercard - Featured Reward Value in stays, or up to 11 free nights)

Insider's latest points and miles valuations peg Choice points as worth 0.7 cents each, on average, but you could get a higher value when you redeem points during peak travel times or in expensive locations.

Choice Privileges, the loyalty program of Choice Hotels, includes nearly 7,500 properties worldwide, so it's pretty easy to find the chain's hotels wherever you go. Choice Privileges includes family-friendly Comfort Inn and Quality hotels, extended-stay brands like MainStay Suites, and upscale Cambria and Ascend Collection locations. Award nights start at 8,000 points and go up to 35,000 points – with a few exceptions that cost much more.

Aside from the welcome bonus offers, both cards come with perks that can make your travels better and save you money. Here's what to know about each of the Wells Fargo Choice credit cards.

Choice Privileges Select Mastercard

Along with a hefty welcome bonus, the Choice Privileges Select Mastercard - Product Name Only earns bonus points on Choice Hotels stays and in other useful spending categories. Cardholders earn:

• 10x points on stays at participating Choice hotels
• 5x points at gas stations, grocery stores, home improvement stores, and on phone plans
• 1 point per dollar on all other purchases

The card charges an annual fee of Choice Privileges Select Mastercard - Annual Fee, which is pretty standard for a mid-tier hotel credit card. Beyond the first year, the fee is well worth it if you can take advantage of the card's extensive list of benefits, which include:

• 20 elite night credits per year (qualifying you for Platinum elite status, which comes with early check-in, late checkout, a 25% points bonus on paid stays, and Avis Preferred Plus elite status)
• 30,000 bonus points every account anniversary (worth around $210 in stays, or up to three free nights)
• Global Entry or TSA PreCheck application fee credit (once every four years)
• Cell phone protection when you use your card to pay your wireless bill (up to $800 per claim with a $25 deductible)
• World Elite Mastercard benefits including concierge, retail benefits with brands like DoorDash and Lyft, global emergency assistance, and Mastercard Travel and Lifestyle services
• No foreign transaction fees

The most noteworthy (and valuable) perk is the 30,000 points you'll receive each anniversary, which can make the card well worth keeping year after year. While there are many hotel credit cards that offer a free night on your anniversary, it's typically a single-night certificate versus points you can use however you want. For instance, you could take your 30,000 anniversary points and book a night in a one-bedroom suite at the Kohea Kai Maui, an Ascend Collection hotel, which normally costs over $400 per night.

Or, you could stretch your 30,000 points over three nights at the Clarion Inn and Suites Kissimmee — Lake Buena Vista South near Disney World, where paid rates run around $90 per night. Having this flexibility makes the card's anniversary bonus much more valuable.

Choice Privileges Mastercard

Most Choice loyalists will get the most benefit from the premium card, but if you're absolutely opposed to paying an annual fee, the Choice Privileges® Mastercard® - Product Name Only isn't a bad deal. You won't earn as many points for spending, however — here's what cardholders earn:

• 5x points at participating Choice Hotels
• 3x points at gas stations, grocery stores, home improvement stores, and on phone plans
• 1 point per dollar on all other purchases

There's no anniversary points bonus, which puts this card at a big disadvantage compared to the annual-fee version. It does still offer a handful of good perks, including a couple you don't often see on no-annual-fee cards:

• 10 elite night credits per year (qualifying you for Gold elite status, which comes with early check-in, late checkout, and a 10% points bonus on paid stays)
• Cell phone protection 
• World Elite Mastercard benefits 
• No foreign transaction fees

You'll get fewer nights out of the card's welcome bonus, and the earning rates aren't great, but if you stay with Choice occasionally and want a no-annual-fee card with phone protection and no foreign transaction fees, it's worth considering.

What if you have the Barclays Choice Privileges card?

If you're like me and have the discontinued Choice Privileges Visa Signature Card - Product Name Only in your wallet, keep an eye on your mailbox. You may have already received your new Wells Fargo Choice Privileges® Mastercard® - Product Name Only in the mail, and if not, it should come soon.

I've received my new card with instructions to activate it starting May 1, 2023. The old Barclays card will no longer work after April 30, 2023. The card change won't affect your Choice Privileges point balance, but because you'll have a new card number, be sure to update any recurring bill payments or online accounts where you've saved it.