Wells Fargo Propel American Express® card

The Wells Fargo Propel American Express® card is a great rewards credit card for people who like to eat out, order in, pump it up and travel all around. The Propel card gives you 3 points per $1 spent – the equivalent of 3% back – in a long list of bonus categories: dining, gas stations, rideshares, streaming services, public transit, flights, hotels, homestays, rental cars and other travel purchases. On top of that, you’ll get 20,000 bonus points – redeemable for $200 – if you spend $1,000 during the first 3 months your account is open. The Wells Fargo Propel American Express card also has a $0 annual fee and a 0% intro APR for the first 12 months on both purchases and qualifying balance transfers.

If you have good or excellent credit and spend a lot in the Propel card’s bonus categories, you should definitely consider applying. If you need more information, you can find it below.

Wells Fargo Propel Review Highlights

Great Initial Bonus

Spending at least $1,000 within 3 months of opening your account will trigger a bonus of 20,000 points, which can be redeemed for $200. The average bonus in points or miles is 24,860.
 

0% intro rates with a couple flaws

The Wells Fargo Propel American Express card offers 0% intro rates on purchases and qualifying balance transfers for the first 12 months your account is open. That deal could certainly help you save some money, seeing as the average 0% periods last for about 10.5 months (purchases) and 12.21 months (transfers). But it’s not a perfect offer by any means.

For one thing, the Wells Fargo Propel card charges a 3% intro transfer fee for the first 120 days (5% thereafter), which could end up proving quite costly. Plus, if you don’t repay your entire balance by the 12-month mark, any remaining amount will be subject to an above-average regular APR (14.49% to 24.99% Variable).
 

Above-average regular APR

The Wells Fargo Propel card has the potential to be about average for your credit standing but is more likely to be a lot higher. In fact, it could be nearly twice the 13.04% APR that credit cards for people with excellent credit charge, on average, according to WalletHub’s latest Credit Card Landscape Report. So this probably isn’t the card to propel you to savings if you don’t plan to pay your bill in full every month.
 

3X points in lots of bonus categories

Wells Fargo Propel rewards you with 3 points per $1 spent in a laundry list of purchase categories: airlines, gas stations, homestays, hotels, streaming services, public transit, rideshares, rental cars, restaurants, and other travel purchases. All other purchases get you 1 point per $1 spent.

Considering that Propel points are worth about a penny apiece, you’ll be earning roughly 1% to 3% cash back. For context, the market averages among rewards cards are 1.18 points/miles per $1 spent and 1.08% cash back.
 

No annual fee

Whether you plan to use the Wells Fargo Propel card for financing or rewards-earning, its lack of an annual fee will help you save just the same. In fact, you’ll save $18.3 per year compared to the average credit card.
 

Good credit required

You need good or excellent credit to get approved for the Wells Fargo Propel American Express credit card. You can check your credit score for free on WalletHub if you aren’t sure where you stand.