Wells Fargo Propel 365 American Express Card

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If you're an existing Wells customer, this card is truly valuable.

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The Wells Fargo Propel 365 American Express Card packs on the incentives, giving cardholders multiple ways to earn points. From the straightforward points-per-dollar on certain spending categories, like gas and restaurants, to relationship bonus points if you have a Wells Fargo account, there is no shortage of opportunities to rack up the rewards.

This card is also a winner if you plan to carry a balance. There’s no interest for the first year on purchases and balance transfers; after that, the APR jumps to 14.99% to 22.99% based on creditworthiness.

Review

Although it’s very similar to the Wells Fargo Propel American Express Card, the Propel 365 has a few noteworthy differences. Both cards offer the biggest rewards to Wells Fargo account holders who spend money at U.S. gas stations and U.S. restaurants, each category reaping 3x and 2x points respectively. All other purchases earn 1 point per dollar.

For some, this straightforward approach to collecting rewards is more attractive than rotating categories, which requires some effort. It’s especially useful if a sizable portion of your budget goes to gas and eating out. With the Propel 365, points never expire, in contrast to the 5-year expiration on points with the Wells Fargo Propel American Express Card.

Here’s where customers who have other Wells Fargo accounts make out better: relationship bonus points. Although both cards offer a 10% annual bonus if you have a qualifying Wells Fargo checking or savings account, the Wells Fargo Propel 365 American Express Card offers a 25% bonus if you own the primary checking account in a Portfolio by Wells Fargo program. If you have more than $250,000 in Portfolio by Wells, your annual bonus jumps to 50%.

When you’re calculating this bonus, keep in mind the percentage is based on rewards points alone; promotional and bonus points are not counted. Bonus points are considered the second and third point earned for every dollar spent at a U.S. gas station, for example.

Speaking of bonus points, new cardholders get 20,000 bonus points if they spend $3,000 within the first three months. Combine this with the extra perks, including car rental insurance, the complimentary extended warranty program, price protection, lost luggage reimbursement and more, and you’re looking at a card with high-value potential, depending on your lifestyle.

The fact that you can try it out for one year without paying interest or an annual fee is a compelling reason to give this card a shot. After the introductory year is up, you’ll have to pay the regular annual fee of $45. This annual fee, though relatively cheap, is the main reason why we give Propel 365 a slightly lower grade than the regular Propel.

Who should get this card

This card is practically a no-brainer for existing Wells Fargo customers with a good credit score who spend a lot at the pump. This is a competitive card in that area, especially when you consider the relationship bonus and the fact there’s no limit on the amount of points you can earn and they never expire.

Advantages
  • The sign-up bonus is generous and fairly easy to achieve.
  • There’s no interest for the first year on purchases and balance transfers.
  • Wells Fargo account holders will earn relationship bonus points.
  • You don’t have to pay the annual fee for the first year.
  • Terms apply.
Disadvantages
  • If you've opened another Wells Fargo credit card during the 16 months prior to applying for this card, you won’t be eligible for the points bonus or introductory APRs.
  • Although you'll pay no interest on balance transfers for the first 12 months, a balance transfer fee applies.

Fees and APR

  • Enjoy a 0% introductory APR on purchases and balance transfers for 12 months. After that, your APR will be 14.99% to 22.99% based on creditworthiness.
  • Pay no annual fee the first year, then $45 thereafter.
  • There is no foreign transaction fee on purchases made outside the U.S.
  • The balance transfer fee is $5 or 3% of the amount of each balance transfer, whichever is greater, for 12 months. After that, it increases to 5% for each balance transfer, with a minimum of $5.
  • See Rates & Fees.

Extras, perks and using points

Wells Fargo account holders get extra points at the end of the year; the value is based on the type of account you have. Checking or savings account holders earn a 10% bonus, Portfolio by Wells Fargo account holders receive a 25% bonus and people with a balance of $250,000 or more as well as private bank clients get a 50% bonus.

This card also comes with a host of complimentary features, such as retail protection, roadside assistance, travel accident insurance and auto collision and liability insurance, to name a few.

Points can be redeemed through Go Far Rewards, the Wells Fargo rewards portal, for travel, gift cards, cash redemption options or merchandise. The minimum amount to redeem is 2,500 points.

How this card compares

Barclaycard Arrival Plus® World Elite Mastercard®
  • Enjoy 40,000 bonus miles after you spend $3,000 on purchases in the first 90 days - that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase
  • Earn 2X miles on all purchases
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • Miles don't expire as long as your account is open, active and in good standing
  • No foreign transaction fees on purchases made while traveling abroad
  • 0% introductory APR for 12 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 16.99%, 20.99% or 23.99%, based on your creditworthiness.
  • There is a fee for balance transfers.
Credit Needed

Excellent

Regular APR

16.99%, 20.99% or 23.99% Variable

Annual Fee

$89 - Waived first year

Purchase Intro APR

N/A

Balance Transfers Intro APR

0% for 12 months (on balance transfers made within 45 days of account opening)

The Barclaycard Arrival Plus World Elite Mastercard will likely appeal to those who want the most flexible redemption options for their miles. You can use your earnings to book travel, get a statement credit for travel purchases, or for gift cards and select merchandise. This may be of greater value to you depending on your spending habits.

Blue Cash Preferred® Card from American Express
  • $200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) - that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
  • 3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 13.99% to 24.99%.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • $95 annual fee.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • Terms Apply.
  • See Rates & Fees
Credit Needed

Excellent

Regular APR

13.99%-24.99% Variable

Annual Fee

$95

Purchase Intro APR

0% on Purchases for 12 months

Balance Transfers Intro APR

0% on Balance Transfers for 12 months

If you can get over the idea of paying the $95 annual fee, the Blue Cash Preferred Card from American Express is a must-have card in the wallet of any big grocery shopper. The 6% cash-back reward at U.S. supermarkets up to $6,000 in spending each year, then 1%, is the most lucrative available in this category.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.