The Wells Fargo Propel American Express® card has taken the best parts of almost every credit card category and bundled them up into one colossal piece of metal (not plastic!) Check out everything this card has to offer in our review.
The Wells Fargo Propel American Express® card, with no annual fee, has a rewards program that has a far-reaching earn net, and a 0% for 12 months APR introductory offer on purchases and qualifying balance transfers (the ongoing purchase and balance transfer APR is 13.99%-25.99% (Variable)). People have been saying for years that a credit card like this is too good to be true.
And when things look too good to be true, they generally are. So, I started researching the Wells Fargo Propel American Express® card, and here’s what I found out.
Who the Wells Fargo Propel American Express® card Is Best For
- People looking for a great rewards credit card
- People looking for a good balance transfer credit card
- Anyone who streams, travels, or eats out a lot
- Gas guzzlers
- Wells Fargo bank account holders
Wells Fargo Propel American Express® card Overview
The Wells Fargo Propel American Express® card has taken the best parts of almost every credit card category and bundled them up into one colossal piece of metal (not plastic!).
There aren’t too many cards out there that offer you a fantastic rewards program with multiple areas to earn, great redemption options, and a solid 0% for 12 months APR introductory offer on purchases and qualifying balance transfers, all for no annual fee. Yet the Wells Fargo Propel American Express® card manages to wow on all of these levels. Take a gander at what you’re getting when you sign up.
Wells Fargo Propel American Express® card Key Features
- 0% for 12 months APR introductory offer on purchases and qualifying balance transfers
- 20,000 bonus points when you spend $1,000 in the first three months – a $200 cash redemption value
- 3x rewards points on travel, gas station purchases, eating out, and popular streaming services
- 1x rewards points on everything else
- No annual fee
- Cell phone protection
Taking a Closer Look at The Wells Fargo Propel American Express® card
Looking at the specs, I was understandably intrigued by the Wells Fargo Propel American Express® card offer. Once I started really getting into the nitty-gritty details of the card, I was absolutely thrilled.
I have yet to come across a credit card that is so heavily loaded with benefits and features. Let’s start with the introductory offers (yes, plural).
Introductory Offers
Unlike many other credit cards that make you choose one or the other, the Wells Fargo Propel American Express® card offers a 0% for 12 months APR introductory offer on purchases and qualifying balance transfers and a points bonus when you sign up.
You’ll automatically receive 20,000 bonus points when you spend $1,000 in the first three months of owning the card.
Quick trick: Just transfer your monthly utility bills and other recurring payments to the card in order to meet this requirement. Additionally, you’ll get a 0% for 12 months intro APR on all new purchases and qualifying balance transfer amounts. Those are two solid bonuses that any cardholder would be happy to take advantage of.
Rewards
Next, let’s dive into the rewards program. From listening to the chatter, I was hearing slightly contradictory reviews about this program, so I spoke to Wells Fargo directly to get the real scoop. Turns out, the Wells Fargo Propel American Express® card has an excellent rewards program that is actually better than most competing offers (I’ll explain why after I show you the breakdown.) Here’s the offer:
Earn 3x rewards points (two bonus points + one standard rewards point) for every dollar you spend on travel, eating out, and gas station purchases. This is a huge category, that covers tons of fringe benefits. For example, the travel category includes airline tickets, hotels, rental cars, cruise lines, travel agencies, travel sites, and campground purchases. The eating out category includes eating places and restaurants, drinking places, or fast food restaurants. I was even more impressed to see that the gas station purchases category includes things like transportation costs, so you can get bonus points when you pay for taxis, railways, ferries, highway tolls, parking lots and garages. That’s an impressive array of earn locations for the highest level of the program.
Additionally, you’ll also earn 3x points (two bonus points + one standard rewards point) for popular streaming services including Netflix, Apple Music, Apple TV, Disney, Hulu, Pandora, Amazon Music Unlimited, and Spotify Premium.
Every other purchase rewards you with one point per dollar.
There is no limit to the number of points you earn and no expiration, either.
Redemption Structure
I also really like Wells Fargo’s redemption structure. Not only is it easy to redeem your bonus rewards, but you can do it in so many different ways. Bonus points can be redeemed for travel expenses, gift cards, digital rewards, cash, and even charitable donations. Plus, you can go online and use bonus points to buy merchandise at Wells Fargo’s Go Far Rewards platform.
Why I Love the Wells Fargo Rewards System
That’s a fabulous rewards program if you ask me. And now, as promised, I’ll explain why. Not only does the Wells Fargo Propel American Express® card offer you a wide range of locations to earn bonus points along with a great three points per dollar earn rate, but the card is a $0 annual fee card as well.
Generally, if you want to get a high earn rate rewards program, you’re going to have to pay for it with an annual fee. The Wells Fargo Propel American Express® card is possibly the only card around that gives you a great rewards program that is totally free. This card earns major points for that one.
Rates & Fees
The Wells Fargo Propel American Express® card isn’t just a pretty face (or sexy rewards program, as the case may be). It also comes with a fair and reasonable rates and fees structure. Take a look at what you’ll be paying:
APR
As mentioned, you’ll get a 0% for 12 months APR introductory offer on purchases and qualifying balance transfers. If you have a small balance elsewhere, this could be a good solution for paying that off faster.
After the introductory period, the Wells Fargo Propel American Express® card APR goes up to 13.99%-25.99% (Variable). While not as attractive as the introductory rate, this is actually a better variable rate than a lot of other cards. APR will be determined by your creditworthiness and the current national rate.
Annual Fee
Once again, the Wells Fargo Propel American Express® card charges no annual fee. Amazing.
Balance Transfer Fee
Before you transfer your balance, realize there is a fee involved, though the introductory rate is lower than the regular one. The Wells Fargo Propel American Express® card charges a 5% balance transfer fee but that fee is reduced to 3% if you make your transfer in the first 120 days from the account opening.
Foreign Currency Exchange Fee
Finally, this card charges no foreign currency exchange fee for converting money to a different currency when shopping abroad.
The Wells Fargo Propel American Express® card also comes with overdraft protection.
Wells Fargo Propel American Express® card Rewards & Benefits
In case you thought the Wells Fargo Propel American Express® card was running out of benefits steam, think again. Here are some more perks you’ll get from this fantastic credit card:
Cell Phone Protection
You can get up to $600 per claim in cell phone protection when you pay your cell phone bill with the Wells Fargo Propel American Express® card. Keep in mind, there is a $25 deductible and you can make up to two claims in a 12 month period.
Protection covers repairs and replacements for damaged or stolen phones. Some customers have commented that this benefit alone is worth it considering Verizon charges for insurance and takes a higher deductible.
Travel Benefits
Additionally, the Wells Fargo Propel American Express® card comes with a lot of travel benefits. You can get up to $150,000 in travel accident insurance and roadside assistance in case you break down.
Plus, you’ll also get important emergency assistance, auto rental collision damage insurance, and $1,000 in lost luggage insurance. There are more, but you can read about the smaller benefits on the Wells Fargo website. Suffice it to say, you’re covered if you travel with this card.
Shopping Benefits
The Wells Fargo Propel American Express® card even provides shopping benefits that you usually get with a Visa credit card. Enjoy things like purchase insurance (up to $1,000), price protection, extended warranty, and more when you shop using this card.
Security & Alerts
To top things off, the Wells Fargo Propel American Express® card is designed with state of the art chip technology embedded into the attractive metal hybrid card. These babies are extremely durable, nice to look at, and super secure.
As with all Wells Fargo credit cards, the Wells Fargo Propel American Express® card provides cardholders with zero liability insurance and online security protection. Zero liability means if your card information is stolen and used to make fraudulent charges, you won’t be responsible for any of it, and online security protection is a series of security protocols that Wells Fargo uses to keep your information safe. You can also set up security alerts that will send you notifications if anything unusual is going on with your account.
Customer Support
Wells Fargo has a huge customer support network. You can be in touch with the customer service team by email or over the phone 24/7. You can also tap into the tremendous online help center. It’s a network of FAQs with every question and answer imaginable. Plus, you can reach out to the Wells Fargo community, ask questions, browse discussions, and see what everyone has to say.
Pros & Cons
Pros
- Great Welcome Offer — New accounts can receive a 20,000 point signup bonus after spending $1,000 within three months of account opening.
- Strong Bonus Rewards — Earn 3X points per dollar spent at restaurants, on take-out, and at gas stations, rideshares and on transit.
- Strong Introductory Financing Offer — Receive 0% for 12 months APR introductory offer on purchases and qualifying balance transfers (the ongoing purchase and balance transfer APR is 13.99%-25.99% (Variable)).
- Low Fees — This card has no annual fee.
Cons
- Great Credit Needed — You must have excellent credit to be approved, so the card isn’t available for most.
- Less Flexible Rewards — Reward points aren’t as flexible as cash back.
Is the Wells Fargo Propel American Express® card Right For You?
The Wells Fargo Propel American Express® card is definitely one of the winning credit cards on the market. While all credit card companies are scrambling to give consumers better deals and bigger offers, finding this kind of combination of benefits with no annual fee in one single card is just so rare these days.
To recap, the Wells Fargo Propel American Express® card has not one but two generous signup bonuses. You’ll get 20,000 points when you spend $1,000 in the first three months on the card. Plus, you can also take advantage of the 0% for 12 months APR introductory offer on purchases and qualifying balance transfers (the ongoing purchase and balance transfer APR is 13.99%-25.99% (Variable)).
And again, the Wells Fargo Propel American Express® card is a no annual fee credit card that has an awesome rewards program. You’ll earn three rewards points for every dollar spent on travel, eating out, and charges at gas stations (and those categories are tremendous). You’ll earn one reward point for everything else, and that’s unlimited.
When you toss in all the added benefits like cell phone protection, travel insurance, and shopping benefits, the Wells Fargo Propel American Express® card simply blows all other credit cards clear out of the water. Needless to say, this card is highly recommended.