Wells Fargo Propel American Express® card review
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Wells Fargo Propel American Express® Card Overview
If you’re looking for a rewards credit card with flexible bonus categories and redemption options, the Wells Fargo Propel American Express® Card could be a great choice.
The card charges no annual fee, yet you can earn 3 points per dollar in a ton of everyday categories, including eating out or dining in, gas and other popular categories like ride-shares, transit, flights, hotels, homestays, car rentals and popular streaming services.
Though it’s perhaps most appealing as an entry-level travel rewards card, the Propel could also be a solid choice if you’re looking to save on interest. The card lets you avoid interest on purchases and balance transfers with a 0 percent intro APR for the first 12 months, after which you’ll pay the regular variable APR of 14.49 percent to 24.99 percent. This gives you the chance to consolidate debt to save money on interest or pay down a large purchase without interest over time.
What are the advantages and disadvantages?
- Only earns 1 point per dollar on general purchases
- Some balance transfer credit cards offer longer intro APR periods
A deeper look at the current card offer
- Rewards rate: Earn 3x points on dining, gas stations, ride-shares, transit, flights, hotels, homestays, car rentals and popular streaming services; also earn 1x points on other purchases
- Welcome offer: Earn 20,000 bonus points worth $200 when you spend $1,000 within three months of account opening
- Annual fee: $0
- Purchase intro APR: 0 percent APR for 12 months
- Balance transfer intro APR: 0 percent APR for 12 months
- Regular APR: Variable APR of 14.49 percent to 24.99 percent
Current welcome offer
Sign up for the Wells Fargo Propel American Express® Card and you can earn 20,000 bonus points when you spend $1,000 on your card in the first three months. You can redeem your rewards for cash back, travel, gift cards and some other options at a rate of one cent per point, making this bonus worth $200 right off the bat.
For a credit card with no annual fee, the Wells Fargo Propel American Express® Card has a very robust rewards rate. The card also offers more ways to redeem your rewards than many competing cash back credit cards.
As mentioned, this card earns 3 points per dollar you spend on dining, gas station purchases, ride-shares, transit, flights, hotels, homestays, car rentals and popular streaming services. You also earn 1 point per dollar on all other purchases.
The rewards you can earn with this card are unlimited.
When it comes time to redeem your rewards, there are quite a few options to choose from. You can trade in your points for cash back, charitable donations, merchandise, physical and electronic gift cards or travel. You can also pool points with other rewards members.
While most redemptions can be made online, you’ll have to call the Wells Fargo Go Far Rewards Customer Service at 1-877-517-1358 to redeem your rewards for travel.
How much are points worth?
Points in the Wells Fargo Go Far Rewards program are worth one cent each, whatever way you choose to redeem them.
Other cardholder perks
Once again, the Propel card offers quite a few benefits for a card with no annual fee. You’ll get zero fraud liability and chip technology for starters, as well as a number of other major cardholder perks.
This card comes with quite a few travel protections, including lost luggage reimbursement, car rental loss and damage insurance, roadside assistance, 24/7 travel emergency assistance and emergency cash advances.
Consumer benefits you’ll receive include purchase protection against damage or theft and extended warranties on items that already come with a manufacturer’s warranty.
You’ll also get cellphone protection if you pay your cellphone bill with your Wells Fargo Propel American Express® Card. This gives you up to $600 of coverage if your phone is damaged or stolen (with a $25 deductible).
Rates and fees
In addition to not charging an annual fee, the Wells Fargo Propel American Express® Card also comes with no foreign transaction fees for purchases made during international travel. This makes it a great choice if you’re looking for a low-cost travel rewards card.
However, you may be subject to other fees and charges such, overdraft protection fees between $12.50 and $20, a late payment fee up to $40 and a returned check or returned payment fee up to $40.
If you decide to do a balance transfer with the card, you’ll also be subject to a 3 percent balance transfer fee (minimum $5) for balances transferred in the first 120 days. After that, the balance transfer fee goes up to 5 percent (minimum $5).
How the Wells Fargo Propel American Express® Card compares to other rewards credit cards with no annual fee
As you compare the best rewards credit cards on the market today, keep in mind that many have different rewards structures that may be a better fit based on your spending habits. Also be aware that many cash back credit cards have introductory APR offers, yet some apply only to purchases or only to balance transfers.
The three cards profiled here show just how much credit cards that offer rewards can vary, even among those with no annual fee.
For example, the Citi® Double Cash Card offers a generous flat cash back rate and an introductory APR offer on balance transfers, but comes with no sign-up bonus or introductory APR on new purchases. You’ll also miss out on bonus rewards in specific categories, as every purchase earns the same percentage of cash back. While this offers convenience, used on its own, a flat rate card may not be the best way to maximize your rewards earnings.
Meanwhile, the Chase Freedom Unlimited® offers a solid sign-up bonus and ongoing rewards in quite a few popular categories like travel through Chase, dining and drugstores, as well as 1.5 percent back on other spending. However, you’ll only get an introductory APR offer on purchases, not balance transfers.
With the Propel, you’ll only earn 1 point per $1 spent on regular purchases, but you get a wider selection of bonus rewards categories and the benefit of a 0 percent introductory APR on both purchases and balance transfers for 12 months, followed by a variable APR of 14.49 percent to 24.99 percent.
Best cards to pair with the Wells Fargo Propel American Express® Card
Considering the Wells Fargo Propel American Express® Card only gives you 1 point per $1 spent non-bonus purchases, you should probably pick up another rewards credit card that offers a higher rate of rewards on everyday spending. The Citi® Double Cash Card is a good option since you earn 2 percent back for each dollar you spend, regardless of where, when or what you buy—1 percent when you make a purchase and another 1 percent when you pay it off.
Bankrate’s Take—Is the Wells Fargo Propel American Express® Card worth it?
If you want to rack up flexible rewards with no annual fee, the Wells Fargo Propel American Express® Card is definitely worth it.
You’ll earn 3 points per dollar in a ton of popular categories and you can use the card’s intro APR to finance large purchases or pay down debt via a balance transfer. When you add in the welcome bonus and the travel and consumer protections you receive, this card is at the top of its class.
The information about the Wells Fargo Propel American Express® card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.