Wells Fargo Propel American Express® Credit Card Review
August 19, 2019
Best for: spenders who prefer flexible redemption options and bonus reward categories
Despite a lack of premium perks, the Wells Fargo Propel Credit Card® is an excellent choice if you’re looking for a travel rewards card with no annual fee — especially if you like the idea of earning bonus points across several spending categories, including dining out and ordering in, gas, rideshares, homestays and popular streaming services like Netflix and Hulu.
The basics of the Wells Fargo Propel Credit Card®
The Propel’s standout features
Best ways to use the Wells Fargo Propel Credit Card®
As a new Wells Fargo Propel cardholder, you can start off on the right foot by swiping your card enough to earn the 30,000-point welcome bonus. The $3,000 spending threshold for this bonus is relatively easy to reach, especially if you use the card for all of your restaurant, gas, travel and streaming purchases, all of which will get you three points per $1.
When it comes to your redemption options, avoid cashing in your points for merchandise, which reduces the value of each point by roughly 30%. Instead, maximize your rewards by using them for travel purchases. If you’re a Wells Fargo Visa Signature cardholder, you can stretch your rewards even further by transferring points earned with the Propel. Doing so will nab you a 50% points bonus when redeemed for airfare through Wells Fargo’s Go Far Rewards program. Be sure to shop around on other travel sites to make sure you’re getting the best deal, though. You can always redeem points for a statement credit to cover those purchases.
If you choose to take advantage of the 0% APR on purchases and balance transfers, make sure you can pay off the balance within the 12-month intro period. Once the intro period ends, your regular APR can reach as high as 27.99%, which can add up quickly and eat into your cash back rewards.
In a nutshell
Although some other travel rewards cards offer more generous welcome bonuses, the Wells Fargo Propel Credit Card earns high marks for a lucrative rewards rate and valuable travel and purchase protections. With no annual fee and a 0% intro APR on purchases and balance transfers for 12 months, the card offers a user-friendly way to rack up rewards quickly, as well as pay down any existing high-interest debt you may have on another card.
If you’re looking for a travel card that offers attractive perks such as a credit for Global Entry or TSA PreCheck, lounge access and complimentary travel credits every year, you might look to options like the Chase Sapphire Reserve or Citi Prestige Card. However, you’ll have to pay a lot more to enjoy those benefits, as many premium travel rewards cards charge annual fees upwards of $550.