Wells Fargo Launches Propel American Express Card with 30K Point Bonus
Wells Fargo is back with the Wells Fargo Propel American Express Card, a no annual fee card offering a 30,000-point welcome bonus after $3,000 in three months.
Wells Fargo users will recognize the name, as this is simply a revamped version of the same Propel card that’s been around for years. The bank previously teased it would relaunch the card, and applications opened Monday. It’s a solid entry-level credit card that offers a strong sign-up bonus and some spectacular ongoing earning opportunities for a no-fee card. Read on for more details.
Benefits of the Wells Fargo Propel Credit Card
- 30,000 bonus points after spending $3,000 on the card within the first three months. These can be redeemed for up to $300 towards travel.
- No annual fee
- 3 points per dollar spent on travel, eating out and ordering in, gas stations and streaming services like Hulu & Netflix
- 1 point per dollar spent on all other purchases
Wells Fargo says it wants this card to compete with the Chase Sapphire Reserve. That’s more than a bit of a stretch. Instead, this card is a great option for travelers just getting started collecting miles and points. No annual fee is alluring, and the 30,000-point bonus is a solid offering. Ultimately, its appeal is broad because it’s tied with such a major bank.
However, this card does not offer the major perks that make the Chase Sapphire Reserve our #1 travel rewards card. And redeeming Wells Fargo Go Far points gets you just 1 cent per point on airfare, hotels, and others. That’s far short of the 1.25 cents per point you get with the Chase Sapphire Preferred, or 1.5 cents per point with the Chase Sapphire Reserve.
While we value points that can be transferred to airline and hotel partners for their flexibility, redeeming directly through the Wells Fargo is simple and easy for the average traveler to understand. And an area where this Wells Fargo clearly excels is its return on ongoing spend.
Getting 3x points on all travel, eating out and ordering in, gas stations and streaming services is unheard of for a no annual fee card. That surpasses even the Chase Sapphire Reserve, which offers 3x points on travel and dining. It’s important to note that cardholders of the older Wells Fargo Propel card will be automatically transferred into this new card. And applications for that card have long since closed.
You shouldn’t stack this card up against the Chase Sapphire Reserve, as it’s just not a contest. The Wells Fargo Propel American Express Card is not a top-of-the-line travel rewards card. Instead, it’s a solid entry-level card. It’s great for people or who have lots of ongoing spend and want to redeem it in a straightforward way.
If you’re looking for a card without an annual fee, this is one worth considering.
Lead Photo (CC BY 2.0): Mike Mozart via Flickr
Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer.