Why You Need the New Wells Fargo Propel Card 0

New credit card

In case you missed it, earlier in the summer, Wells Fargo released a new credit card. It comes with some big travel rewards. The Wells Fargo Propel Card, released in partnership with American Express, is branded as “one of the richest no-annual-fee rewards card in the industry.”

New credit card
Photo: Wells Fargo

Now, we know what you’re thinking — but there already was a Wells Fargo Propel Card! True, but the new version is extensively better in terms of both points earned and the sign-up bonus.

Following in the footsteps of some other recent no-annual-fee cards, the Propel Card is designed for consumers who adamantly avoid annual fees. However, these consumers still want to earn points and miles through things they consume in their daily lives.

The new card offers…

  • 3X on eating out and ordering in at restaurants of all types
  • Travel? You’ll earn 3X on travel and transit (including airlines, car rentals, hotels, homestays like Airbnb, crusies, gas stations, ride share services, railways, taxis, parking, the list goes on and on)
  • What about TV and music? Earn 3X on popular streaming services (like Netflix and Hulu for television and movies, and Spotify and Pandora for music)
  • 1X on other purchases
  • No foreign currency conversion fees
  • Access to pre-sale deals via American Express

Additionally, there are no limits to the amount of points you can earn and no points expiration.

In comparison, the previous card only offered 2X at restaurants, and other downgrades. You can note, however, that cardholders of the previous card received an automatic upgrade to this new card in mid-July.

What did the folks at Wells Fargo have to say?

“We are listening to consumers to better understand and serve their needs holistically, and have heard directly from them on what they want most in a credit card. Based on that feedback, we are excited to offer one of the richest rewards credit cards in the industry, for no annual fee. With triple points on most of what consumers do every day, the new Propel Card complements their lifestyles – whether they are commuting to work or planning a summer vacation; whether they’re downloading a favorite TV series to binge watch or having dinner out with friends,” said Bev Anderson, head of Wells Fargo Cards and Retail Services, in a recent release.

“Wells Fargo is re-committed to fulfilling our customers’ needs by providing strong, experiential value through the new Propel Card, our best rewards card, for consumers who live their lives to the fullest and desire a credit card that rewards them for it.”

The Current Sign-Up Offer

The current sign-up offer is 30,000 bonus points (equal to $300 cash redemption) after spending $3,000 in the first three months.

What can you do with all those bonus points? Earned points are part of the Go Far Rewards loyalty scheme. It allows you to redeem your points for gift cards, travel, merchandise, at auctions and more. You can also pool your points with family and friends, gift your points to another person or even donate your points to charity.

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