The Wells Fargo Propel American Express Card (learn more) is new to the game, released earlier in the summer. It was called “one of the richest no-annual-fee rewards cards in the industry.” So, how does it really stand up? Simple Flying’s review of the Wells Fargo Propel card breaks it down.
With this card, you can expect…
- 3X at restaurants
- 3X on travel and transit
- 3X on streaming services
- 3X at gas stations
- 1X on all other purchases
- No foreign currency conversion fees
- No annual fee
- 0 percent APR on purchases and balance transfers for 12 months; after 12 months, an ongoing APR of 14.74–27.24 percent
- Cell phone protection plan if you use the card to pay your monthly bill
- Travel accident and lost luggage insurance
- Auto coverage for car rentals
- Return protection and extended warranties
The sign-up bonus is 30,000 points if you spend $3,000 in the first three months (learn more). That comes out to about $300 in value, a great deal considering that this card has no annual fee whatsoever.
This card is great for earning potential both on everyday costs and on travel costs. Not only do you earn 3X on travel, like airfare and hotels, but you also earn 3X on restaurants, transit like Uber and parking costs and 3X on streaming services like Netflix and Pandora.
This card is great for those looking to maximize the earning potential on their everyday purchases.
You redeem in the form of Go Far Rewards points, which are $0.01 in value. You can redeem for travel, cash back and gift cards.
You can pool your Go Far Rewards points with other Wells Fargo cards, so you can get a better value over the standard $0.01 if you do have another one of these cards. For example, the Wells Fargo Visa Signature Card has a much better value when you redeem your points for airfare in its travel portal (up to $0.0175).
Beyond the great earning and redemption opportunities, the Wells Fargo Propel also comes with a few standard perks.
- Cell phone protection (up to $600 against damage and theft)
- Purchase and travel protection
- Extended warranty coverage
- Return protection
- Coverage for lost or stolen items
- Travel accident insurance
- Secondary car rental insurance (only on rentals rented in the United States)
- Lost baggage coverage
- Extended warranties
- Roadside assistance
While the travel and purchase protect are pretty standard for lots of similar cards, the cell phone protection is unique. It’s available when you pay your monthly cell phone bill with the Propel card.
This card is best for those who are trying to avoid an annual fee, but who still want some of the benefits of a premium travel card, like high earning potential for travel, even if you don’t receive some of the other associated perks, like lounge access and flight upgrades. It’s also good for those who want a card that allows you to redeem your earned points easily and simply.
Another great feature? While you might find it difficult to apply and receive Wells Fargo cards without banking with the brand in the past, Wells Fargo did say that this new card would be more available to those without a prior Wells Fargo banking history (read more).
The card’s primary perk is that it allows you to earn 3X on bonus categories that you’re likely already spending in throughout your everyday life. This card pretty much runs the gamut on bonus categories, covering travel, dining, gas stations and even streaming services, which you don’t see often. From Apple Music to Spotify Premium, Hulu to Netflix, think of all the streaming services you likely use without thinking about it! Plus, these bonus categories are all uncapped.
The two bad things about this card? You can’t transfer your points to an airline or other rewards program to redeem them for a higher value than the $0.01 unless you have a Wells Fargo Visa Signature Card and then make your travel purchases through the Wells Fargo travel portal. Additionally, due to the ongoing APR after 12 months, this card is not suitable for those looking to carry a balance.