Wells Fargo Propel American Express® Card Wells Fargo Propel American Express® Card
by ,
5 5stars

Wells Fargo Propel American Express® Card Review

Apply for a Wells Fargo Propel American Express® Card
Rating:
Bottom Line:
$200 bonus opportunity; 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/cash back card that offers a generous intro bonus and good 0% intro APR. It's particularly suitable if you're a Wells Fargo customer or planning to become one.

Let's not bury the lead - cardholders will earn a whopping 20,000 points bonus (redeemable for $200 cash back!!) after spending $1,000 on purchases in the first 3 months. On top of that, the Wells Fargo Propel American Express® Card earns cardholders 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. Although the card's terms and conditions state you earn points, these points are effectively equal to 3% back on gas, 2% back at restaurants and 1% on back on everything else when you redeem your rewards for cash. As such, the Wells Fargo Propel American Express® Card is a good option for anyone looking for a card that offers generous cash back rewards.

Your reward points (e.g., effective cash back) 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.

The Wells Fargo Propel American Express® Card is especially good for unplanned purchases, as it provides a bit of breathing room as you pay down your balance. You can also save yourself some money on interest fees by transferring balances from high-APR cards over to the Wells Fargo Propel American Express® Card. Be aware that there is an intro balance transfer fee of 3% for the first 12 months (after that it is 5%), but this one-time fee may be worth it if you can escape the high interest of your current credit card. Use our free Balance Transfer Calculator to see if this card is best for your needs.

The highlight of the Wells Fargo Propel American Express® 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, the Wells Fargo Propel American Express® Card provides cellular telephone protection if you pay your monthly mobile phone bill with your card. This protection covers your phone if it's damaged or stolen. You'll pay a $25 deductible per claim (maximum of 2 per 12 months) for a reimbursement of up to $600 per claim, which is a good deal when you consider how much insurance costs through your cell phone provider. Overall, this a strong perk, particularly if you tend to leave your phone around or break it frequently, and all you have to do to get coverage is to pay your cell phone bill with your Wells Fargo Propel American Express® Card.

The Wells Fargo Propel American Express® Card is a smart choice if you're interested in a rewards cards that provides a generous $200 cash back bonus, a 0% intro APR and cellular (mobile) phone protection. Wells Fargo banking customers will also enjoy the ongoing 10% Relationship Bonus, giving them an extra 10% on top on their earned points.

Highlights From Wells Fargo
  • Earn 20,000 bonus points after spending $1,000 in the first 3 months
  • Earn 3X points at U.S. gas stations, 2X points at U.S. restaurants, 1X point on other purchases
  • 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
  • 0% Intro APR for 12 months on purchases and balance transfers, then a 14.24%-26.24% variable APR; balance transfer fees apply
  • $0 Annual Fee
  • Select "Apply Now" to learn more about the product features, terms, and conditions

Rewards
  • Earn 20,000 bonus points (redeemable for $200 cash back!!!) after spending $1,000 in the first 3 months.
  • Earn 3 points per $1 spent on gas - effectively 3% back when redeemed for cash.
  • Earn 2 points per $1 spent at restaurants - effectively 2% back when redeemed for cash.
  • Earn 1 point per $1 spent on all other purchase - effectively 1% back when redeemed for cash.
  • 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 Transaction Fee: None.
  • Purchase APR: 0% intro APR for 12 months, then 14.24%-26.24% (variable), depending on credit history.
  • Balance Transfer APR: 0% intro APR for 12 months, then 14.24%-26.24% (Variable), depending on credit history.
  • Introductory Balance Transfer Fee: 3% for 12 months, then 5%.


Apply for a Wells Fargo Propel American Express® Card

This content is not provided or commissioned by the company whose products are featured on this site ("Advertiser"). Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser. This site may be compensated through the Advertiser's affiliate programs.

If you have a question or concern we haven't answered on our site, please let us know. Your question will be added to the NextAdvisor Forums so that we and other experts in our community can answer it. Due to volume, we aren't able to respond to every question, but we answer as many as we can.



Card Details

Features:Earn 20,000 bonus points (redeemable for $200 cash back) after spending $1K in first 3 months; Earn 3x on gas, 2x at restaurants, and 1x on all other purchases - redeemable for cash back & more
Purchase APR:0% intro APR for 12 months, then 14.24%-26.24% (variable)
Balance Transfer APR:0% intro APR for 12 months, then 14.24%-26.24% (Variable)
Annual Fee:$0
Credit Needed:Excellent / Good

NextAdvisor Credit Cards Blog Headlines

Related Forum Posts


About Us Blog Contact Us Forums Terms & Privacy Policy Affiliate Program Site Map
Copyright© 2006 - 2018 NextAdvisor.com - All rights reserved.

Advertiser Disclosure: NextAdvisor is a consumer information site that offers free reviews and ratings of online services. Many of the companies whose services we review provide us compensation when someone who clicks from our site becomes their customer. This is how we make money to support our site. The results of our analyses, calculators, reviews and ratings are based on objective quantitative and qualitative evaluation of all the cards on our site and are not affected by any compensation NextAdvisor may receive. Compensation may impact which products we review and write about and where those products appear. We do not review all products in a given category. All opinions expressed on this site are our own.