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Wells Fargo Propel American Express® Credit Card
The Wells Fargo Propel American Express is a solid no annual fee rewards credit card. It offers three points per dollar spent at gas stations, two points per dollar at grocery stores and one point per dollar for all other purchases.
The biggest downside to this card, and it’s a pretty small one, is that there is a minimum redemption level of $25. Fortunately, it shouldn’t be too tough to rack up $25 in rewards considering the everyday spending categories.
Additionally, the 20,000 points sign-up bonus and introductory 0% APR period makes this card a really great option.
Bonuses and Benefits
Knowing what benefits come with a credit card can help you decide if it’s a good fit for you. Here we cover the bonuses and perks that the Wells Fargo Propel American Express® Card offers and the value of the Wells Fargo points you earn.
The Wells Fargo Propel card offers a sign-up bonus of 20,000 points after spending $1,000 on purchases within the first three months as a cardholder. Additionally, the Propel card offers a 0% introductory APR period for both purchases and balance transfers for the first 12 months.
What You Get
- Earn 20,000 points after spending $1,000 within the first 3 months
- 0% APR for 12 months on purchases and balance transfers
- 3 points per dollar at gas stations
- 2 points per dollar at restaurants
- No annual fee
Your Wells Fargo points expire after five years if they are not used.
What is the value of Wells Fargo Rewards Points?
Wells Fargo points can be redeemed for airfare, hotels, car rentals, cash, gift cards and more. Redemptions start as low as 2,500 points for a $25 gift card.
What is CPM and How Is It Calculated?
Cents Per Mile (CPM) is a way to measure the value of miles or points. It tells you how many cents you get for each mile or point you redeem by dividing the cash price of the airline ticket by the number of miles or points the award flight costs. That amount is multiplied by the number of miles or points earned per dollar spent on everyday purchases to account for cards that earn more than one mile per dollar spent.
How we calculate CPM:
The Best Ways to Redeem Wells Fargo Points
No matter how you redeem, you will get the same value of one cent per point. So it is probably best to redeem your points for cash back so that you can choose how you want to spend it. When making a cash redemption, you have the choice between having cash deposited into your Wells Fargo checking account or requesting a paper check.
Seattle–AtlantaEconomy classMiles price54,640points+$64.54 feeDollars price$546
Newark–MiamiEconomy classMiles price24,838points+$47.02 feeDollars price$248
Detroit–CharlotteEconomy classMiles price46,290points+$57.32 feeDollars price$462
Los Angeles–TokyoEconomy classMiles price77,785points+$87.85 feeDollars price$777
Miami–MadridEconomy classMiles price50,555points+$393.55 feeDollars price$505
Santo Domingo–Fort LauderdaleEconomy classMiles price29,406points+$162.08 feeDollars price$294
New York–Los AngelesBusiness classMiles price37,640points+$52.68 feeDollars price$376
Honolulu–SeattleBusiness classMiles price121,639points+$49.78 feeDollars price$1,216
San Francisco–BostonBusiness classMiles price109,640points+$102.91 feeDollars price$1,096
London–New YorkBusiness classMiles price204,500points+$307.0 feeDollars price$2,045
Chicago–Sao PauloBusiness classMiles price670,576points+$97.76 feeDollars price$6,705
Los Angeles–SydneyBusiness classMiles price735,736points+$155.36 feeDollars price$7,357
Other ways you can redeem points
You can redeem Wells Fargo points for hotel stays through the Wells Fargo travel portal.
You can redeem your Wells Fargo points for car rentals through the Wells Fargo travel portal.
You can redeem your Wells Fargo points for gift cards.
You can redeem your Wells Fargo points via a direct deposit into your Wells Fargo checking account or by receiving a paper check. One point is worth one cent with a minimum redemption of 2,500 points ($25).
Everyday Earnings with Wells Fargo Propel American Express® Card
The Wells Fargo Propel card offers 3 points per dollar spent at U.S. gas stations, 2 points per dollar at U.S. restaurants and 1 point per dollar for all other purchases. This is a solid everyday earning card, especially considering it doesn’t have an annual fee.
Wells Fargo Propel Amex Credit Card Rewards
- Car Rental
- All Other Purchases
The Wells Fargo Propel card isn’t a travel card, so it doesn’t offer many travel benefits.
No Foreign Transaction Fee
There are no addtiional fees on purchases made abroad.
Earn Elite Status Fast
The Wells Fargo Propel card doesn’t offer the ability to earn elite status with any airline or hotel program.
Fees: the cost of Having Wells Fargo Propel American Express® Card
Since the Wells Fargo Propel card doesn’t have an annual fee, you don’t need to spend anything on the card in order to break even. Additionally, the 20,000 points sign-up bonus puts you way ahead since it’s worth $200 .
- Annual Fee
- Balance Transfer Fee
Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 12 months. After that, up to 5% for each balance transfer, with a minimum of $5
- Foreign Transaction Fee
- Late Payment Fee
Up to $37
Does the Card Pay for Itself?
The Wells Fargo Propel American Express is a no-fee card. You do not have to earn a certain amount of rewards in order to cover the cost since it’s free. It’s still good to know roughly how much you’ll be earning, though. We’ve broken out our estimates for the first- and second-year net earnings.
These estimates are based on an annual monthly spend of $2,000
Top 5 Benefits of the Wells Fargo Propel American Express Card
For a no annual fee card, the Wells Fargo Propel is a pretty solid option. Here are the top five benefits of the card:
- Great Earning Potential: Earn 3 points per dollar at gas stations, 2 points per dollar at supermarkets and 1 point per dollar for all other purchases.
- Hassle-Free Redemptions: Redeem your points for travel, cash back and more. The minimum redemption is only $25.
- Good Sign-Up Bonus: This card comes with a nice sign-up bonus of 20,000 points. That’s worth $200 !
- No Annual Fee: You’ll never have to pay anything for this card. That means all the rewards you earn are essentially free. How can you beat that?
- No Foreign Transaction Fee: There are no addtiional fees on purchases made abroad.
Should You Get the Wells Fargo Propel American Express Card?
The Wells Fargo Propel Amex is a solid no-fee cashback credit card. It earns three points per dollar spent at gas stations, two points per dollar at supermarkets and one point per dollar for all other purchases.
If you’re someone that spends a fair amount of money on groceries and gas, there are few other no annual fee cards that will be as rewarding as the Wells Fargo Propel, especially if you also have a Wells Fargo checking or savings account. If groceries and gas aren’t your largest spending categories, this is still a good card, but there may be another card that’s more rewarding.
Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.
- Most applicants who are approved for the Wells Fargo Propel card report having a credit score of 690 or higher. If your credit score is higher than that, it is not a guarantee that you will be approved. Wells Fargo will evaluate your entire application before deciding whether to approve or deny you for the card.
- The Relationship Bonus offers a bonus to cardholders who also maintain a qualifying Wells Fargo checking or savings account or a Portfolio by Wells Fargo. Those cardholders will receive a 10 percent bonus on all non-bonus rewards points. That means that on an annual qualifying spend of $25,000, you will earn a 2,500 points Relationship Bonus.
- Your Relationship Bonus is earned monthly and will show up on your rewards account as pending until the 13th of the month after the date you opened your account. As long as you keep your account open and in good standing, you will always earn your Relationship Bonus on this date.
Compare Wells Fargo Credit Cards
Before you apply for the Propel Amex, let’s take a quick look at a couple of other cards issued by Wells Fargo, including the Wells Fargo Visa Signature card, the Wells Fargo Propel 356 Amesrican Express card and the Wells Fargo Rewards card.
Other Wells Fargo Rewards Credit Cards
|Sign-up bonus||0 points||20,000 points||20,000 points||0 points|
$0 first year, then $45
|APR On Purchases||13.65% to 27.49% Variable±||14.24% to 26.24% Variable±||14.99% to 22.99% Variable±||18.65% to 27.49% Variable±|
|Second Year Value||$358||$240||$240||$240|
All of these Wells Fargo cards offer a 20,000 points sign-up bonus and no annual fee. Where the cards differ is in how you’ll earn points.
The Wells Fargo Visa Signature card offers 5 points per dollar spent on up to $12,500 in combined gas, grocery and drugstore purchases for six months and 1 point per dollar on all other purchases. The Wells Fargo Rewards card offers the same.
Like the standard Propel card, The Wells Fargo Propel 365 card offers three points per dollar spent at U.S. gas stations, two points per dollar spent at U.S. restaurants and one point per dollar spent on all other purchases. The 365 differs, though, because it charges a $45 annual fee after the first year and allows you to earn up to a 50 percent bonus if you have a qualifying checking or savings account with Wells Fargo.
When deciding between these cards, you should consider what categories you spend the most money in. The Wells Fargo Visa Signature and Wells Fargo Rewards cards generally won’t be good long term card options, but if you spend more at restaurants and grocery stories and have a larger balance in a Wells Fargo account, the Propel 365 card might be worth the extra cost over the standard Propel.
Compare Wells Fargo Propel Amex Credit Card to Other Cards
In addition to comparing the Propel card with other Wells Fargo cards, we will take a quick look at a few cards issued by other banks, including the U.S. Bank FlexPerks Travel Rewards Visa Signature, the Premier Rewards Gold card from Amex and the BankAmericard Travel Rewards card. Like the Propel, both the FlexPerks card and the BankAmericard are more or less cashback cards. The Premier Rewards Gold card is a more premium card geared toward travelers.
The FlexPerks card offers a 25,000 points sign-up bonus and earns three points per dollar spent on charitable donations and two points per dollar for mobile phone services. You’ll also get two points per dollar for whichever of the following categories you spend the most in: groceries, gas or airfare. All other purchases earn one point per dollar.
Overall, FelxPerks is a slightly more flexible and potentially more rewarding card than the Propel card, but it’s also more complex, making it more difficult to know exactly how much you’ll be getting back.
The BankAmericard Travel Rewards card offers a 20,000 points sign-up bonus and earns 1.5 points per dollar spent on all purchases. The BankAmericard is less flexible because points can only be used for travel.
The Premier Rewards Gold card from American Express offers a 25,000 points sign-up bonus and has a $195 annual fee that is waived the first year. It earns three points per dollar spent on airfare, two points per dollar spent at restaurants, gas stations and supermarkets, and one point per dollar spent on all other purchases.
Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.
Card Terms and Conditions
While it's easy to focus on the rewards offered by the Wells Fargo Propel American Express card, it's worth taking a closer look at the terms and conditions. There's a lot to consider as you think about how you're going to use the card. Will you carry a balance, get a cash advance or maybe make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with this Amex card.
- Intro APR:
- 0.00% introductory APR for 12 months
- Intro APR for balance transfers:
- 0.00% introductory APR for 12 months
- Ongoing APR:
- 14.24% to 26.24% Variable±
- Minimum Grace Period:
- 25 days
- Extended Warranty Protection:
- Doubles the original manufacturer’s warranty of one year or less on eligible products purchased entirely with your card.
- Purchase Protection:
- Get coverage for eligible items you purchase entirely with your card if they are damaged or stolen within 90 days from the date of purchase.
Cash Advance Features
- Ongoing APR:
- 25.24% to 27.24% Variable±
- Cash Advance Fee:
- Either $10 or 5% of the amount of each advance, whichever is greater
Security and Protections
The Wells Fargo Propel card offers standard security features, including the following:
- Mobile App:
- Track your account while you’re on the go with the mobile app.
- EMV Chip + Signature Technology:
- Get global acceptance and enhanced security at merchants that use chip-enabled terminals.
- FICO Score:
- Get free access to your FICO score every month.
Wells Fargo offers a mobile banking app so you can keep track of your spending while you’re on the go. The Wells Fargo Propel card is also compatible with Apple Pay, Android Pay and Samsung Pay.
Additional Cardholder Benefits
In addition to the benefits listed above, the Wells Fargo Propel American Express card offers a handful of additional benefits.
American Express Travel Benefits
- Auto Rental Collision Damage Waiver:
- Coverage for theft and collision for most rentals in the U.S. and abroad for up to $50,000 per rental. Coverage is secondary to your personal insurance.
- Cellular Telephone Protection:
- Coverage for cell phone damage up to $600 per occurrence and $1,200 per year with a $25 deductible. You must pay for your cell phone bill with your Propel card in order to activate this coverage. This benefit does not cover cellular telephones that are lost.
- Lost Luggage Reimbursement:
- Get up to $1,000 per passenger for damaged or lost bags. Coverage includes cardholder and immediate family members on the same travel itinerary.
- Roadside Dispatch:
- Call 1-855-327-1403 for roadside assistance, including lockout service, towing, jumpstart and gas delivery. Service charges apply.
- Travel Accident Insurance:
- Receive accidental death or dismemberment coverage of up to $150,000 for any air, bus, train or cruise ship transportation paid for with your card.
- Travel and Emergency Assistance Services:
- Legal and medical referrals, and other travel and emergency assistance is available any time of day. Service charges apply.