Wells Fargo Propel American Express® Card Review Credit Card 5 2016-12-14 15:28:52

Wells Fargo Propel American Express® Card Review

Apply for a Wells Fargo Propel American Express® Card
Rating:
Bottom Line:
15-month 0% intro APR on purchases & balance transfers; flexible reward redemption options including cash back; 10% ongoing bonus and rewards program makes this an especially good choice for Wells Fargo customers

Full Review:
The Wells Fargo Propel American Express® Card is a good rewards card that offers a generous 0% intro APR. It's particularly suitable if you're a Wells Fargo customer or planning to become one.

Users will earn 3 points for each $1 spent at U.S. gas stations, 2 points per $1 spent at U.S. restaurants and 1 point per $1 on everything else. Reward points can be redeemed for cash, airline tickets, merchandise, gift cards and to bid on unique experiences and items. You can even use them to pay down eligible Wells Fargo loans and mortgages. If you choose to redeem for cash you can either get a paper check or redeem them to a qualifying Wells Fargo checking or savings account. Your points are worth 1 cent per point if you redeem them for cash or airline tickets, which means if you have 30,000 points you can redeem them for a $300 airfare or $300 in cash. It is unclear what value the points have if you redeem them for merchandise or gift cards, so cash or airfare may be your best bet.

Wells Fargo Propel American Express® Card also offers a 15-month 0% intro APR on both balance transfers and purchases. This can come in handy, especially for unplanned purchases as it provides a bit of breathing room on paying down your balance. You can also save yourself some money on interest fees by transferring balances from high-APR cards over to this one. Note that there is an introductory balance transfer fee of 3% for 15 months, after that it is 5%. Depending on how much you have to transfer it might still be worth it and save you some money on interest fees. Use our free Balance Transfer Calculator to see how this card will work for your needs.

The highlight of this card is its Relationship Bonus, which pays you an additional ongoing 10% on top of the reward points you've already earned. You do need a Wells Fargo qualifying checking or savings account or a PMA package to enjoy this bonus, so if you don't have one it might make sense to get one. This bonus means that if you earn 10,000 points you'll automatically receive an extra 1,000 points - a really nice perk. Plus, the Relationship Bonus is ongoing so you'll get it on every single point you earn.

In addition to all these features, Wells Fargo Propel American Express® Card provides cellular telephone protection if you pay your monthly mobile phone bill with your card. You'll be reimbursed up to $600 a claim if your mobile phone is damaged or stolen. There is a $25 deductible and a maximum claim reimbursement of 2 per 12 months, but overall this a strong perk, particularly if you tend to leave your phone around or break it frequently.

Wells Fargo Propel American Express® Card is a smart choice if you're interested in a rewards cards that also provides a generous 0% intro APR and cellular (aka, mobile) phone protection. Wells Fargo customers will also enjoy the ongoing 10% Relationship Bonus that gives you an extra 10% on top on your earned points.

Highlights
  • Earn 3X points at U.S. gas stations, 2X points at U.S. restaurants, 1X point on other purchases
  • 0% Intro APR for 15 months on purchases and balance transfers, then a 13.49%-25.49% variable APR; balance transfer fees apply
  • $0 Annual Fee
  • Enjoy exclusive offers on airline tickets, hotels, car rentals, and cruises
  • Redeem points for travel, gift cards, cash redemption options or merchandise through Go Far™ Rewards
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Propel American Express® Card
  • Earn an annual relationship bonus of 10% on non-bonus rewards points if you maintain a qualifying Wells Fargo account
  • Select "Apply Now" to learn more about the product features, terms, and conditions

Rewards
  • Earn 3 points for every dollar spent at U.S. gas stations.
  • Earn 2 points for every dollar spent at U.S. restaurants.
  • Earn 1 point for every dollar spent on all other purchases.
  • Wells Fargo customers: Earn an additional 10% customer points bonus on every purchase when you have a qualifying Wells Fargo checking or savings account or a PMA package.

Redeem Rewards
  • Redeem your points for cash, airline tickets, merchandise or gift cards. You can also use them to pay down eligible Wells Fargo loans and mortgages.

Fees and APR
  • Annual Fee: $0
  • Foreign Transfer Fee: 3% of each transaction converted to U.S. dollars.
  • Purchase APR: 0% intro APR for 15 months, then 13.49%-25.49% (variable), depending on credit history.
  • Balance Transfer APR: 0% intro APR for 15 months, then 13.49%-25.49% (Variable), depending on credit history.
  • Introductory Balance Transfer Fee: 3% for 15 months, then 5%.


Apply for a Wells Fargo Propel American Express® Card

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Card Details

Purchase APR:0% intro APR for 15 months, then 13.49%-25.49% (variable)
Features:Earn 3 points per $1 spent on gas, 2 points per $1 spent at restaurants and 1 point per $1 spent on all other purchase
Annual Fee:$0
Credit Needed:Excellent / Good

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