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Wells Fargo Propel American Express Card Review

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Wells Fargo Propel American Express Card

Good Rewards Contender, Especially for Wells Fargo Customers

The Wells Fargo Propel American Express Card affords its users a lot of opportunities to gain points and use them in a meaningful way. Right off the bat, new cardholders can accumulate 30,000 bonus points for spending $3,000 in net purchases (purchases minus returns/credits) during their first three months as cardholders.

Beyond that though, most of your points with this card will come from the following: 3 points per dollar on dining purchases, on gas purchases and select streaming services. You also will receive 3 points per dollar on travel purchases like airfare, taxis, campgrounds, cruise lines, timeshares, travel agents, and more. All other purchases will gain you 1 point per dollar. If you choose to shop online through the Wells Fargo Earn More Mall, you can pick up a few extra bonus rewards. 

As a new cardholder, you’d be privy to a 0% introductory APR for the first year you have the card on purchases and balance transfers, although you’ll be subject to anywhere from a 15.99% - 27.99% Variable APR following that, with that number being based on your creditworthiness. 

Smart Features

No annual fee - The Wells Fargo Propel American Express Card comes with no annual fee attached to it.

0% introductory APR - New cardholders are given 12 months of 0% APR, making this card an especially solid choice for those who want to use their new account for a large purchase or a balance transfer. Following the first year, your APR will be from 15.99% - 27.99% Variable depending on your credit, and will vary with the Prime Rate. Keep in mind, you must transfer your balance within the first 120 days to qualify for the 0% intro rate. 

Points on everyday buys - You can earn varying amounts of extra points based on the dollars you spend, including 3 points per $1 spent on Travel, Gas, Dining, and Select Streaming Services and 1 point per $1 on nearly all other purchases. There is no expiration date on your points and there is no limit to the amount of points you can garner.

  • Smart Tip - These bonus points may not be earned on purchases made through third-party accounts, in online marketplaces and when using a mobile card reader or digital wallet.

Bonus points - By spending $3,000 in net purchases during your first three months with the card, you can earn 30,000 bonus points.

Travel features - Travel benefits are clearly a priority of this card, as cardholders can also take advantage of lost luggage reimbursement, car rental liability and collision insurance, roadside assistance and 24/7 travel and emergency assistance. When it comes time for redemption, if travel is a priority for you, there are no blackout dates on air travel when you redeem your points through Go Far Rewards, and you are able to you a combination of points and a credit card. Points can be redeemed for a variety of travel rewards including: cruises, airline tickets, experiences, vacation packages, car rentals, and more. 

Other ways to redeem - You can request a paper check to redeem your cash rewards, or you can apply it directly to your Wells Fargo checking, savings or Portfolio by Wells Fargo account. You can also redeem your points on brand-name merchandise, gift cards, donate to charity, or you pool your rewards with others to save up for something larger. 

No foreign transaction fees – Jetsetters will be happy to learn there are no excess fees charged for using your card internationally.

Who It Benefits

The Wells Fargo Propel American Express Card is a great card for just about anyone with good to excellent credit, as the many benefits it offers provides most with some sort of worthwhile gain. This is especially true for those who travel occasionally, as the Propel Amex Card offers discounts on all parts of a trip, including flights, car rentals and hotels. Many people in the modern world are already quite accomplished at finding solid flight prices as it is, so the fact that cardholders are not locked into specific airlines or dates that they need to use their points/discount on adds a lot of flexibility to this rather central benefit of the Propel Amex Card.

But the biggest daily benefit of this card is that its point multipliers are on purchases that most people make daily. This includes 3 points per $1 spent on Travel, Gas, Dining, and Select Streaming Services and 1 point per $1 on nearly all other net purchases. There is no expiration on your points either, as long as your account remains open and in good standing.

Compare Similar Travel Rewards Offers

How It Works

The Wells Fargo Propel American Express Card offers a full introductory year of 0% APR, meaning the card could be an option for those looking to transfer balances from another card with a high APR. After the 12-month intro period, cardholders will be given a rate between 15.99% - 27.99% Variable, depending on their creditworthiness and varying with the Prime Rate.

All points earned with your Propel Card will be attributed directly to Your Rewards Account at GoFarRewards.WF.com. There you can redeem your points for brand-name gift cards, merchandise, digital downloads, online auctions or various travel options. You can send the cash equivalent of your points directly to your Wells Fargo savings, checking or Portfolio by Wells Fargo account or request to simply receive a paper check.

The 30,000 bonus points you can earn by spending $3,000 in net purchases in the first three months will be placed in Your Rewards Account within one - two billing periods after they’re earned. 

Cardholders can review their point earnings online at GoFarRewards.WF.com, or by calling the Wells Fargo Rewards Service Center at 1-877-517-1358.  

What’s the Catch

While the 0% introductory APR is great for anyone, the possibility of receiving up to a 15.99% - 27.99% Variable APR following that opening may deter some from the Wells Fargo Propel American Express Card. 

It’s also important to note that your rewards expire after five years, so you’ll want to keep a close eye on them.

Just the Math Please

Rewards

A Wells Fargo Propel American Express® cardholder will receive 3 points per $1 spent on qualifying Travel, Gas, Dining, and Select Streaming Services and 1 point per $1 on nearly all other net purchases. These bonus points may not be earned, however, on purchases made through third-party accounts, in online marketplaces and when using a mobile card reader or digital wallet.

These rewards points can be used on many different outlets that Wells Fargo and Amex jointly offer for cardholders, including discounts on flights, hotels, car rentals and cruises, cash redemptions as a paper check or directly to your Wells Fargo savings, checking or Portfolio by Wells Fargo account or for brand-name gift cards, merchandise, digital downloads and online auctions.

Balance Transfers

Balance transfers will also receive the 0% APR for a year that purchases do. Following the initial time period, the APR for balance transfers will be changed to somewhere between 15.99% - 27.99% Variable based on your credit history. This APR rate will also vary with the U.S. Prime Rate.

Rates and Fees

Annual Percentage Rate (APR) for Purchases

0% introductory APR for the first 12 months. After that, your APR could range from 15.99% - 27.99% Variable, based on your credit score and will vary with the Prime Rate.

APR for Balance Transfers

0% introductory APR for the first 12 months. After that, your APR could range from 15.99% - 27.99% Variable, based on your credit score and will vary with the Prime Rate. To qualify for the introductory 0% rate, you must submit your balance transfer request within 120 days from account opening.  

APR for Cash Advances

The APR range for cash advances is 25.99% - 27.99% Variable, depending on your credit score and varying with the Prime Rate.

Penalty APR and When It Applies

N/A

How to Avoid Paying Interest on Purchases

Your due date is at least 25 days after the close of each billing period. You will not be charged interest on purchases if you pay your entire balance by the due date each month. 

Annual Fee

$0  

Transaction Fees

  • Balance Transfer Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for the first 120 days. After that, up to 5% for each balance transfer, with a minimum of $5.

  • Cash Advance Either $10 or 5% of the amount of each advance, whichever is greater.

  • Foreign Purchase Transaction None

Penalty Fees

  • Late Payment Up to $37

  • Returned Payment Up to $37

Bottom Line

The Wells Fargo Propel American Express Card is a great option for those at a good credit level or better who ideally already have a bank account with Wells Fargo. The perks the card offers really support a cardholder who travels, not often, but occasionally, and who makes regular purchases at gas stations and restaurants. Benefits including lower flight fares, hotel rates and car rentals should help someone who doesn’t feel enough of a need to get a travel-specific credit card to probably find their sweet spot here.

Next Steps

  • Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • Saving money is easier said than done, but having a high-yield savings account is a great start. To see what's available today, take a look at our overview of the top savings accounts.

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