Wells Fargo Propel American Express® Card Review
Credit Card Reviews

Wells Fargo Propel American Express® Card Review

EPF

Are you looking for a card that can give you valuable travel rewards and cash back?

Maybe the Wells Fargo Propel American Express Card is the right choice for you.

Here are its main features:

  • 30,000 bonus points when you spend $3,000 in purchases in the first 3 months
  • 3 points for each dollar spent on eating out and ordering in; gas, rideshares and transit; hotels, homestays, flights and car rentals; and popular streaming services
  • 1 point for each dollar spent on other purchases
  • $0 annual fee

This is a revamped version of the Propel Amex card with cell phone protection, travel protection, return protection, extended warranty coverage and other standard features.

If you want to find out more about the potential benefits of using this credit card, keep reading this article.

 

What we like most

Some credit cards limit you when it comes redeeming your points. Not Wells Fargo Propel, though. You can redeem points for travel, gift cards, merchandise, cash back or digital downloads. In addition, you have the option to donate your points to charity, your friend or family member. In a word, the card gives you a lot of flexibility to decide how and when you want to spend your points.

A perk that you will like if you are a Wells Fargo fan is the Go Far Rewards program, which allows you to combine this card’s rewards with the same type of rewards you earn using other cards by the same company. In addition, you can use the rewards and go on a trip with your family or friends by pooling your resources.

Moreover, in case you are a Wells Fargo Visa Signature Card member and choose to redeem your rewards for airfare, your Go Far Rewards will be worth 50 percent more.

This is an example of how you can get the most out of this credit card:

When you get a new Wells Fargo Propel credit card, spend $3,000 during the first three months to earn the amazing 30,000 welcome bonus. After that, simply keep on using the card for daily purchases, especially for those that can earn you three points for each dollar you spend. These are travel purchases such as hotels, homestays, car rentals and flights, as well as gas station, transit and rideshare purchases, eating out and dining in.

Then, when the day comes for you to redeem the points for airfare, just pool the points under your Wells Fargo Visa Signature Card. This way, each point will be worth 1.5 cents instead of the standard 1 cent. If you do this, your 30,000 points will get you as much as $450 toward airfare.

But this is not the only reason why this card is fantastic for travelers. Another advantage of the card is the fact that it has no foreign currency conversion fee, which will save you significant amounts of money in the long run.

Furthermore, the Go Far Rewards system lets you earn bonus rewards by shopping in the Earn More Mall. If you shop here at particular stores or book your travel through certain websites, you will earn more points per every dollar spent.

If you are an entertainment aficionado, you will find this card very useful. It can help you get access to concert, theater and special event tickets before they even go on sale to the general public.

However, as great as the rewards may be, the benefits of this credit card don’t end here. The Wells Fargo Propel American Express Card also offers you a decent balance transfer option to save significant amounts of money on interest. In addition, during the first year of using this card, you can take advantage of zero interest on purchases and balance transfers. However, note that after the first year of using this credit card, the interest will range from 14.24% to 26.74% variable APR.

Finally, if you like to pay your cell phone bills using your credit card, this may be the perfect card for you. It will protect you against covered damage and theft for your primary phone and up to three additional phones on the same account. This coverage is limited to no more than two claims during one year and it is subject to a $25 deductible. The maximum benefit you can get is $600 per claim ($1,200 per year).

 

What we don’t like

If you don’t want your credit card to get rejected, especially outside the United States, you may want to think twice before getting this card. Like other American Express cards, it is not as widely accepted as Mastercard or Visa cards.

In addition, even though the card will not charge you an APR during the first year, it will charge a 3% balance transfer fee during the first 12 months. After the introductory period, this fee increases to 5%. Therefore, if you want to transfer a balance, do it in the first year of using the card.

 

Who is this card for?

The broad rewards program, no annual fee and no APR on purchases and balance transfers during the first year make this card very attractive to many cardholders.

The Wells Fargo Propel American Express Card is a good choice for all the people who spend lots of money on eating out, travel or at gas stations. It has no annual fee and it gives you free cell phone protection, so it is wise to have it in your wallet.

Note that this card is recommended to people who have good or excellent credit. If you are not sure about your credit score, check it before actually applying for this credit card.

Would you like to have this card in your wallet? Analyze both its benefits and its fees, and then weigh them out. Then, if you find that you could greatly benefit from using it, go to your nearest Wells Fargo branch and apply for it.

Elite Personal Finance

August 14, 2018

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