Advertiser Disclosure
X

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which Greekalphabets receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. Greekalphabets does not include all credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

  • Date

By

Views

1.1K

Shares

12
Facebook
Twitter
Pinterest
Linkedin

Dig Deeper

Become a Money Crasher!
Join our community.

Wells Fargo Propel American Express® Card Review

Views

1.1K

Shares

12
At a Glance
4.3 / 5
Rating

Learn More

Wells Fargo Propel American Express® Card

  • Welcome Offer: Earn 30,000 bonus points (worth $300) when you spend $3,000 in the first 3 months
  • Rewards: Unlimited 3 points per $1 spent on purchases at U.S. gas stations, transit providers, rideshare operators, restaurants, food delivery services, and most travel providers (including airlines and hotels); Unlimited 1 point per $1 spent on all other eligible purchases
  • Intro APR: 0% APR for 12 months on purchases and balance transfers, then a 15.99% to 27.99% variable APR
  • Fees: Greater of $5 or 3% for balance transfers (intro for first 12 months, then $5 or 5%); Greater of $10 or 5% for cash advances
  • Annual Fee: $0
  • Credit Needed: Good/Excellent

Advertiser Disclosure: This post includes references to offers from our partners. We receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.

Learn more about this card and find out how you can apply here.

The Wells Fargo Propel American Express® Card is a practical, no-annual-fee credit card with a points-based rewards system that favors spending in a slew of popular budget categories. The rewards program is fairly generous, and a relationship bonus further sweetens the deal for moderate to heavy spenders. Plus, Propel has a fairly long introductory APR promotion for purchases and balance transfers.

If you’re looking for a rewards credit card that pays you back on everyday spending and lets you redeem for a wide range of items, including cash, Propel is worth a closer look. Here’s what you need to know about its features, benefits, drawbacks, and overall suitability.

Key Features

Welcome Offer

Earn 30,000 bonus points when you spend at least $3,000 in the first three months. That’s worth $300 when redeemed for cash at Wells Fargo’s online rewards portal.

Earning Rewards

Wells Fargo Propel American Express Card earns unlimited 3 points per $1 spent on purchases at:

  • U.S. gas stations
  • Transit providers
  • Rideshare providers (such as Uber and Lyft)
  • Restaurants and food delivery services
  • Common carrier air travel
  • Hotels and homestays (such as Airbnb)
  • Car rentals
  • Select digital streaming services

All other eligible purchases earn unlimited 1 point per $1 spent.

All point earnings are unlimited. In the 3x categories, point earnings are divided into “base points” and “bonus points”: 1 base point and 2 bonus points. All points earned in the 1x category are base points. This distinction is relevant for the relationship bonus, as explained below.

Redeeming Rewards

You can redeem accumulated points by phone or through Wells Fargo’s online portal for cash (statement credits, paper checks, and Wells Fargo bank account deposits), gift cards, travel purchases (including airfare and hotels), and merchandise. If you have a Wells Fargo debit or ATM card, you can also redeem for cash at Wells Fargo ATMs. Points are generally worth $0.01 apiece at redemption, though point values for merchandise redemptions can vary.

The minimum redemption threshold for cash and gift cards is 2,500 points ($25 value), and 2,000 points ($20 value) at ATMs. Redemption thresholds for travel and merchandise vary.

Introductory APR

Wells Fargo Propel American Express features a 12-month 0% APR promotion on purchases and balance transfers. The balance transfer rate applies to transfers made within 120 days of account opening. Following the end of the promotional period, a a 15.99% to 27.99% variable APR applies, depending on your creditworthiness and prevailing interest rates.

Overdraft Protection

This card comes with Wells Fargo’s overdraft protection service, which lets you link your credit card account with your Wells Fargo checking account to protect against checking overdraft. If you initiate a checking transaction that results in an overdraft, Wells Fargo covers the negative amount with a cash advance on your Propel card’s available credit line.

Each transfer (or, if multiple transfers occur in a single day, each day on which a transfer occurs) carries a $12.50 fee if the total transfer amount is less than $50, and a $20 if the total transfer amount is greater than $50. The regular cash advance interest rate, depending on prevailing rates and creditworthiness), applies to all overdraft protection transfers.

Important Fees

There is no annual fee or foreign transaction fee. During the first 12 months, balance transfers cost the greater of $5 or 3%. After that, balance transfers cost the greater of $5 or 5%. Cash advances cost the greater of $10 or 5% from day one.

Travel Discounts

Propel cardholders enjoy a wide range of potentially deep travel discounts: up to 25% off rack rate at 18,000 hotels worldwide, up to 20% off car rentals with major rental companies, and special fares on select cruises with major cruise lines.

Additional Benefits

Propel comes with an additional slate of useful benefits. The most noteworthy include:

  • Complimentary loss and damage coverage on rental cars charged in full with your card
  • Extended warranties on items with original warranties of 12 months or less
  • Travel inconvenience insurance, which includes reimbursement for lost or damaged carry-on and checked baggage
  • Cell phone protection, up to $600 per incident and $1,200 per year to cover costs associated with damaged or stolen cell phones

Credit Required

This card requires good to excellent credit.

Advantages

  1. No Annual Fee. Wells Fargo Propel American Express Card doesn’t charge an annual fee. That’s good news for thrifty cardholders who wish to avoid diluting their accumulated rewards.
  2. Very Good Welcome Offer. This card’s welcome offer is worth $300 when you redeem your points for cash. That’s far more valuable than competitors such as the Capital One Quicksilver Cash Rewards Credit Card.
  3. Long Introductory APR Promotion. Propel has a long introductory APR promotion: 12 months at 0% APR for purchases and balance transfers, then a 15.99% to 27.99% variable APR. This is equivalent or nearly so to some cards designed specifically for interest-free financing and/or balance transfers, including Wells Fargo’s own Platinum Visa and Chase’s popular Slate Card. However, neither of those cards have spending rewards.
  4. No Limit on 3x Category Point Earnings. There’s no limit on points earnings with Propel, including in the 3x category. If you spend heavily in any of those categories, that’s a big win.
  5. No Foreign Transaction Fee. This card has no foreign transaction fee, which is great news for frequent international travelers.
  6. Up to $600 in Cell Phone Protection. As a Propel cardholder, you may be entitled to up to $600 in cell phone protection at no additional charge (subject to a per-claim deductible). This is great news for cardholders who don’t want to purchase costly extended manufacturer warranties or optional cell phone protection plans from vendors.

Disadvantages

  1. Minimum Redemption Threshold for Cash Redemptions. You need to accumulate at least 2,500 points ($25 value) before you can redeem for cash or cash equivalents. That’s a drawback relative to competitors such as Chase Freedom Unlimited and Discover it, which allow you to redeem for cash in any amount.
  2. No Grocery Rewards. Propel doesn’t earn bonus points on grocery spending, a major line item for most cardholders. If you’re looking for card that rewards more for every dollar you spend at the supermarket, consider the Blue Cash Preferred from American Express Card.

Final Word

The Wells Fargo Propel American Express® Card is a surprisingly versatile card that doesn’t get much attention outside the admittedly large universe of existing Wells Fargo customers. It certainly targets several common types of cardholders: heavy drivers, frequent diners, regular travelers, those planning large purchases, and those with existing high-interest debt. If you fall into any of those categories, do yourself a favor and take a closer look here.

Learn more about this card and find out how you can apply here.

Verdict
4.3 / 5
Rating

Learn More

Wells Fargo Propel American Express® Card

The Wells Fargo Propel American Express® Card is an everyday spending card that’s great for people who spend a lot at gas stations, travel providers, restaurants, and a host of other types of merchants. It’s also a worthy option for new cardholders who wish to finance large upfront purchases or transfer high-interest balances from other credit cards, and for cardholders who travel frequently (and can thus take advantage of the travel discounts). If you drive, dine out, or travel a lot, and have existing high-interest credit card debt to boot, this card is definitely worth a look.

This card’s lack of an annual fee, its long 0% APR intro period, unlimited point earnings, and cell phone protection are all helpful. The minimum redemption threshold for cash redemptions is problematic.

Overall, Propel is a great card for those who can spend heavily in the favored categories, as well as those seeking interest-free financing and low-cost balance transfers.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Facebook
Twitter
Pinterest
Linkedin
Brian Martucci
Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Greekalphabets readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

  • Next Up on
    Greekalphabets

    Tv No Signal Blurry

    5 Reasons to Stop Watching TV and How to Do It – Benefits

    Have you ever thought about how much of your time is spent simply watching television? It’s probably more than you think. If you’re like a growing number of people, you might suspect, deep down, that watching hours of TV every day isn’t the best use of your time. If you’re ready to cut down on your TV consumption, or even stop watching entirely, it’s important to have a plan in place before you do it. Read on to find out why your physical, emotional, and financial health might benefit from cutting the cord — and how to go about doing it.
    Man Working Remotely On Beach Laptop Summer Ocean

    Lifestyle Design: How to Create Your Perfect Life on a Budget

    It’s far too easy to drift on life’s current rather than steer your own ship. But if you don’t define and create your ideal life, you end up living your boss’s vision, your parents’ vision, your spouse’s vision, “the Joneses’” vision — everyone’s idea of what your life should look like except your own. It’s time to take back control over your own life, from your career to your finances to your personal life. And you can do it all while living frugally.

    Popular on
    Greekalphabets

    Sign Up For Our Newsletter

    See why 218,388 people subscribe to our newsletter.

    What Do You Want To Do
    With Your Money?

    Make
    Money

    Explore

    Protect
    Money

    Explore

    Save
    Money

    Explore

    Borrow
    Money

    Explore

    Manage
    Money

    Explore

    Invest
    Money

    Explore
    В интеренете нашел авторитетный блог на тематику 3d визуализация стоимость.
    http://danabol-in.com

    www.dekorde.com