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- Wells Fargo Propel Amex card Review
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It's not often you find a credit card that provides a buffet of lucrative perks, but the Wells Fargo Propel American Express® card does just that. This single card includes a sign-up bonus, robust rewards program, and long 0% intro APR -- with no annual fee to boot. If you've been looking for a new credit card that won't add to your yearly expenses, take a look at the perks and the very few gripes in this Wells Fargo Propel American Express® card review.
2020 Award Winner
Great for: Rewards and sign-up bonus
Wells Fargo Propel American Express® card
Rating image, 5.0 out of 5 stars.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.
Bottom Line
This no-annual-fee rewards card enables you to earn 3X points for dining out, travel, gas stations, and more, plus a big sign-up bonus. The addition of a 0% Intro APR offer makes it even more surprising that there's no annual fee.
Rewards
3X points for eating out and ordering in, gas stations, rideshares, transit, flights, hotels, and more, 1x points on all else
Annual Fee
$0
Intro APR
Purchases: 0%, 12 months
Balance Transfers: 0%, 12 months
Ongoing APR
14.49% - 24.99%, variable
Welcome Bonus
20,000 points after spending $1,000 within 3 months
Highlights
- Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months – that’s a $200 cash redemption value
- $0 annual fee and no foreign currency conversion fee
- Earn 3X points on eating out and ordering in
- Earn 3X points on travel including flights, hotels, homestays and car rentals
- Earn 3X points on gas stations, rideshares and transit
- Earn 3X points on popular streaming services
- Earn 1X points on other purchases
- Select "Apply Now" to learn more about the product features, terms and conditions
2020 award winner
Wells Fargo Propel American Express® card topped the podium in the following categories for The Ascent's 2020 credit card awards:
- Best rewards credit card overall
- Best no annual fee travel credit card
Full Wells Fargo Propel Amex card review
Top perks
20,000 bonus points: The Wells Fargo Propel American Express® card has a higher sign-up bonus than most no annual fee cards, and you'll get the bonus after spending $1,000 in the first three months. Wells Fargo points are worth $0.01 per point, giving this bonus a value of $200.
Earn up to 3 points per $1: This is an excellent rewards rate, and you'll get it for a diverse mix of different expense categories. Streaming services, in particular, is a category where not many other cards earn bonus rewards. This card earns 3 points per $1 on:
- Eating out and ordering in
- Gas stations, rideshares, and transit
- Flights, hotels, homestays, and car rentals
- Streaming services, including Netflix, Disney+, Hulu, Spotify Premium, and many more (a full list is available on the Wells Fargo Propel Streaming page)
You'll earn 1 point per $1 on all other purchases.
No annual fee: The card won't add to your out-of-pocket costs, because there's no annual fee.
0% intro APR on purchases and qualifying balance transfers: This intro APR applies for the first 12 months, making the Wells Fargo Propel American Express® card useful if you're paying off a big expense in installments or want to transfer balances to save on credit card debt.
No foreign transaction fee: Most no annual fee cards will have a foreign transaction fee of 3%, but this card isn't one of them, making it perfect for travelers.
Cell phone protection: Wells Fargo will provide phone protection up to a maximum of $600 per claim and $1,200 per 12-month period with a deductible of $25. You'll need to pay your cell phone bill using your Wells Fargo Propel American Express® card for the coverage to apply. This excellent perk is rare among credit cards, especially with such a low deductible.
Travel and purchase protections: You'll get the following protections when you use this card to make purchases:
- Lost luggage reimbursement
- Car rental loss and damage insurance
- Roadside assistance
- Retail purchase protection covering items you buy against damage or theft within the first 90 days
- Extended warranty coverage that doubles warranties of one year or less on eligible products
What could be improved
Cash back redemption rules: For most cash back redemptions, you must redeem rewards in increments of 2,500 points for $25. There is a smaller increment of 2,000 points ($20) for redemptions made through a Wells Fargo ATM if you have a Wells Fargo debit card.
Points aren't transferable: Wells Fargo doesn't have any travel partners where you can transfer your points for award bookings, which means there's no way you'll be able to score a higher-value redemption. We'd suggest reviewing other travel credit cards for applicants wanting to stretch the value of their points.
Suggested credit score
The Wells Fargo Propel American Express® card is intended for people with good to excellent credit, or generally a 670-plus FICO® Score. Approval isn't guaranteed with any credit score since many factors are assessed during the underwriting process. While applicants with good credit will have a better chance of approval, it's not guaranteed with a higher credit score or impossible with a lower credit score.
You'll also have to comply with the Wells Fargo application rules in order to qualify for this credit card.
Alternatives to consider
- If you want a bigger bonus and more flexible rewards: The Chase Sapphire Preferred® Card has one of the biggest sign-up bonuses you'll find, and it earns an unlimited 2 points per $1 on travel and dining. Another valuable perk is its flexible rewards, which you can either redeem at a fixed rate towards travel purchases or transfer to Chase's many travel partners.
- If you want to choose your card's bonus categories: The Bank of America® Cash Rewards credit card earns 3% on a bonus category that you pick. It also gets you 2% back at grocery stores and wholesale clubs, with a spending cap of $2,500 per quarter on all combined bonus category purchases.
As of Jan. 05, 2021
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| Chase Sapphire Preferred® Card | Bank of America® Cash Rewards credit card |
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Rating image, 5.0 out of 5 stars.
5.0 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
Rating image, 4.5 out of 5 stars.
4.5 stars
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. |
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Apply Now
On Chase's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
| Read Full Review | Read Full Review |
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Credit Rating Requirement: |
Credit Rating Requirement: |
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Welcome Bonus: 60,000 points after spending $4,000 within 3 months |
Welcome Bonus: $200 after making at least $1,000 in purchases within 90 days of account opening |
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Rewards Program: 2x points on travel and dining, 1x points on all other purchases. 25% more points for travel booked through Chase's portal. |
Rewards Program: 3% cash back in your choice category, 2% at grocery stores & wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% on all other purchases. |
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Intro APR: Purchases: N/A Balance Transfers: N/A |
Intro APR: Purchases: 0%, 12 billing cycles Balance Transfers: 0% Intro APR for 12 billing cycles for any balance transfers made in the first 60 days |
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Regular APR: 15.99% - 22.99% Variable |
Regular APR: 13.99% - 23.99% Variable |
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Annual Fee: $95 |
Annual Fee: $0 |
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Highlights:
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Highlights:
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Apply Now
On Chase's Secure Website. |
Apply Now
On Bank of America's Secure Website. |
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This credit card is right for you if:
The Wells Fargo Propel American Express® card is so packed with perks that it can satisfy almost anyone's needs. It's sure to fit you well if you want a rewards credit card that:
- Has no annual fee
- Earns bonus rewards across several different spending categories, including travel, gas stations, and food purchases
- Offers a big sign-up bonus
- Offers a 0% intro APR on purchases and qualifying balance transfers
- Protects your cell phone
About the Author
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
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