Wells Fargo Propel American Express® Card Review

Our Detailed Review of This Card

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The Wells Fargo Propel American Express® Card is a well-rounded rewards card that offers a very generous intro bonus and a lengthy 0% intro APR. It also features generous ongoing cash back rewards with uncapped earning potential in some of the most popular categories, including one the majority of credit cards don't include — popular streaming services. All this with no annual fee.

Let's not bury the lede — cardholders will earn a whopping 30,000-point bonus (redeemable for $300 cash back!) after spending $3,000 on purchases in the first 3 months. On top of that, the Wells Fargo Propel American Express® Card earns cardholders an uncapped 3 points for each $1 spent on gas, dining out, travel and popular streaming services like Netflix, Hulu, Spotify and Pandora. All other purchases earn 1 point per $1 spent. The travel category is broad, including everything from airlines and hotels to rideshares, transit, tolls, parking meters and parking garages, allowing you to earn rewards on a handful of non-traditional travel purchases. Although the card's terms and conditions state you earn points, these points are effectively equal to 3% back on the previously mentioned categories 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 with additional redemption flexibility.

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 50,000 points, you can redeem them for a $500 airfare or $500 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. That's because the card offers a 0% intro APR for 12 months. You also save some money by transferring balances from high-APR cards over to the Wells Fargo Propel American Express® Card since it also offers a 0% intro APR for 12 months. Be aware that there is an intro balance transfer fee of 3% for the first 12 months (after that, it's 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 right for your needs.

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. You'll receive up to $600 per claim against covered damage or theft. There's a $25 deductible per claim (maximum of 2 per 12 months), which is a good deal when you consider how much insurance costs through your cell phone provider. Overall, we see the value in this mobile protection, especially if you tend to leave your phone around or break it frequently. What's more, all you have to do to get this 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 card that provides a generous 30,000-point bonus (redeemable for $300 cash back), earns rewards in a number of everyday categories, offers a 0% intro APR and provides mobile phone protection.

Rewards

  • Earn 30,000 bonus points (redeemable for $300 cash back!!!) after spending $3,000 in the first 3 months.
  • Earn 3 points per $1 spent on dining out, travel, gas and popular streaming services - effectively 3% back when redeemed for cash.

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 14.49%-26.99% (variable), depending on credit history.
  • Balance Transfer APR: 0% intro APR for 12 months, then 14.49%-26.99% (Variable), depending on credit history.
  • Introductory Balance Transfer Fee: 3% for 12 months, then 5%.


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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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