In this blog, we will be looking at the merits and demerits of getting a Wells Fargo Propel American Express® Card. Wells Fargo Propel American Express® is worth applying if your everyday spendings are on gas, eating out, local travel and your entertainment are subscription based. You would be able to acquire points quickly on this card.
Wells Fargo Propel Card Benefits
Reward Points
You get three points for each dollar when you fill up your tank on gas, got out to dine, or order food delivery. Your flight, hotels, homestays, car rentals, ridesharing and transit services bookings will all continue to earn you 3x points. This makes planning a family vacation or an office trip rewarding as you would be able to rack up points.
Also, subscription to Hulu, Netflix, Spotify Premium, Apple Music, Pandora, and Sirius XM Radio Inc will earn you three points. You’ll earn 1x point for every other purchase.
You can further earn discounts by shopping on Earn More Mall.
Tips: The points are posted to your account based on the merchant code and if the retailer from where you purchase doesn’t have the category coded correctly you may lose out on the reward points. Gas purchases at membership clubs, grocery stores, or warehouse if not coded as gas stations or automated fuel dispensers than you can lose out on your points.
If you are purchasing food from caterers, bakeries, grocery stores, and restaurants that function on their own premises do not count towards earning 3x points.
It’s important to know the merchant code for different categories to be able to maximize your points.
Welcome Offer
You can get up to 20,000 points when you spend $1000 on purchases within 90 days of opening your account, which is worth $200 if you redeem it for cash. To earn this bonus, you need to spend around $1000, which is not difficult to achieve.
Redeeming Rewards
Go Far Rewards points program is flexible and has a simple points redemption system. The points are redeemable at a value of one cent in most categories. You can redeem the points as a statement credit, direct deposit to a Wells Fargo account, gift cards, travel, digital downloads and for shopping. You get a lower value for your points when you redeem against digital download and shopping.
Wells Fargo allows you to combine your points with another Wells Fargo card and also with family members or friends. By pooling your points with a Wells Fargo Visa Signature card to increase the value for your current points. All you need is a minimum of 2500 points to begin a transfer to any Go Far Rewards account.
Attractive Card Features
The best thing about Wells Fargo Propel is no expiry of points, nor do you have a cap on how many points you can earn. If you are someone who is looking to save on annual fee then Wells Fargo Propel fits into your budget, as it a no annual fee credit card.Besides, you also save by not paying any foreign transaction fee for the things you buy while your abroad.
Mobile Phone Protection: Nowadays, with the increasing cost of mobile phones it’s nice to have cell phone coverage which will protect you in case of damage or theft. To be eligible for cell phone protection You must pay your monthly bill using your Wells Fargo consumer credit card. This is a secondary coverage available to cardholders with a $25 deductible and maximum coverage is $600 per claim and $1,200 per year. Loss of mobile phone, prepaid phones, and phones on rental are not included in cell phone protection benefit.
Welcome APR
You get twelve months to pay off large purchases with no interest with Wells Fargo Propel Amex card. Also, you can transfer your balance and pay zero-interest for the first twelve months as a part of the welcome APR offers. Balance transfer must be made within 120 days of account opening to qualify for this offer. After the end of the intro APR period, variable APR rates will begin to apply to purchases and balance transfers.
Tip: You won’t be eligible for the welcome offer or APR if you have applied for another Wells Fargo credit card within the last 15 months, irrespective of the old card status.
Travel & Security Benefits
Let’s have a glance at the other benefits which accompany the Wells Fargo Propel American Express® card.
| Travel & Security Benefits | |
| Purchase Protection | 90 days |
| Extended Warranty | 1 Year |
| Car Rental Insurance | 31 days |
| Lost Luggage Reimbursement | Up to $1,000 |
| Roadside Assistance | Available, 24/7, 365 days |
| Travel & Emergency Assistance | Available, 24/7, 365 days |
| Zero Liability Protection | Available, 24/7, 365 days |
| Fraud Monitoring | Available, 24/7, 365 days |
Wells Fargo Propel Compared With Other Travel Cards
Above we had a look at the Wells Fargo Propel American Express® benefits, below is a look at how this card compares to other travel cards
| Wells Fargo Propel American Express® Card | Chase Sapphire Preferred | Capital One® Venture Rewards | |
| Annual Fee | $0 | $95 | $95 |
| Welcome Offer | You can earn 20,000 points after spending $1000 on purchases within the first three months of account opening. | You can earn 100,000 points after spending $4000 on purchases within the first three months of opening your account. | You can earn 60,000 miles when you spend $3,000 on purchases within 90 days of account opening. |
| Introductory APR | 0% interest-free period for the first 12 months for Purchases and Balance Transfers, after that variable 14.49% to 24.99% APR applies | No Introductory APR Offer | No Introductory APR Offer |
| Balance Transfer Fee | (Intro Fee for 120 days-$5 or 3% of the amount of each transfer). Thereafter a 5% with a minimum of $5 on each balance transfer | A 3% fee is posted when balance is transferred at promotional APR. There is no fee if a balance transfer is at regular APR. | The fee is either $5 or 5% of the amount of each balance transfer, whichever is higher. |
| Foreign Transaction Fee | $0 | $0 | $0 |
| Rewards | Earn 3x points at U.S. gas stations, dining, transit, rideshares, and streaming subscription services. 1x point on every purchase. | Earn 2x points on travel and dining. 1x point on every purchase. | Earn 2x miles on every purchase. Earn 10x miles at hotel bookings from hotels.com/venture until January 2020. |
| Travel & Shopping Benefits | Purchase protection Extended warranty Car Rental Insurance Roadside Dispatch Assistance Lost Luggage Replacement Travel and Emergency Assistance. | Purchase protection Extended warranty Travel Accident Insurance· Car Rental Insurance Lost Luggage Replacement Travel and Emergency Assistance Baggage Delay Insurance Trip Interruption Insurance/Trip Cancellation Trip Delay Reimbursement. | Purchase protection Extended warranty Car Rental Insurance Roadside Dispatch Assistance Travel and Emergency Assistance. |
When we compare Wells Fargo Propel with Sapphire Preferred and Venture Rewards, it does offer far more value being a no annual fee credit card.
Shortcomings
One of the concerns with Wells Fargo Propel American Express® is that it’s on the American Express® network and not a Visa or MasterCard. Visa and MasterCard have a further reach and acceptability worldwide than AMEX and therefore the chance of your card not being accepted when your making purchases abroad is less.
What stops Wells Fargo Propel Amex from being a phenomenal travel card is that you don’t get any travel credits for TSA or Global Entry or in-flight purchases, nor do you get any complimentary lounge access. However, we understand that it is a tradeoff for being a zero annual fee credit card.
Conclusion
Wells Fargo Propel American Express® is worth keeping in your wallet if you would like to earn maximum rewards for your purchases.
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