Wells Fargo Propel American Express® Card Review

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Wells Fargo Propel American Express® card
Good for Rewards Value

Wells Fargo Propel American Express® card

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Rewards rate:

Earn 3X points for eating out and ordering in. Earn 3X points on popular streaming services. Earn 3X points on gas stations, rideshares and transit Earn 3X points on travel including flights, hotels, homestays and car rentals. Earn 1X points on other purchases.

  • Intro offer: 20,000 points
  • Annual fee: $0
  • Regular APR: 14.49% – 24.99% (Variable)
  • Recommended credit score: 670-850 (Good to Excellent)

Editor’s Note: As of April 21, 2021, Wells Fargo is not accepting new applications for the Propel American Express® card.

The Wells Fargo Propel American Express® card* is a no annual fee card that comes with a handful of valuable perks, especially for your future travel plans. Wells Fargo no longer accepts applications for the card, but it previously offered 3x points on dining, travel, popular streaming services, and at gas stations.

Alternatives to the Wells Fargo Propel American Express Card

Since the Wells Fargo Propel Amex is no longer available to new applicants, here’s a look at some of our favorite no annual fee alternatives to the card.

Chase Freedom Unlimited®

With the no-annual fee Chase Freedom Unlimited, you’ll earn 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants (including takeout and delivery), and 3% at drugstores. Every other purchase earns 1.5% cash back.

The card is offering an additional 1.5% back on everything you buy, up to the first $20,000 spent in the first year, which is equal to up to $300 cash back.

Chase Freedom Flex℠

With the Chase Freedom Flex, you’ll earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Cardholders also earn 5% on Chase travel purchased through Ultimate Rewards, 3% on dining at restaurants and drugstores, and 1% on everything else.

The card is offering a welcome bonus offer of $200 after you spend $500 in the first three months from account opening. It does not have an annual fee.

American Express Cash Magnet® Card

The Amex Cash Magnet, another no-annual fee credit card, earns unlimited 1.5% cash back on all purchases. It’s a great entry-level credit card especially if you are looking for one without frills.

The card is offering a $150 statement credit after spending $1,000 in the first three months.

Here’s more info about the Wells Fargo Propel card, which is now unavailable:

At a Glance

  • 3x points on eating out and ordering in
  • 3x points on gas stations, rideshares, and transit
  • 3x points on flights, hotels, homestays, and car rentals
  • 3x points on popular streaming services
  • 1x points on other purchases
  • Earn 20,000 bonus points after spending $1,000 in the first three months
  • No annual fee
  • No foreign transaction fees
  • 0% introductory APR on purchases and qualifying balance transfers for the first 12 months from account opening
  • 14.49% to 24.99% variable APR after 12 months

Pros

  • 3x points across several categories, including dining, travel, streaming

  • No annual fee or foreign transaction fees

  • Welcome offer

  • 0% introductory APR for the first 12 months from account opening

Cons

  • Limited redemption options compared to other issuers

  • High credit score to get approved

Additional Card Details

In addition to solid rewards, the Wells Fargo Propel card comes with some other notable benefits.

You’ll get cell phone protection up to $600, minus a $25 deductible, for damaged or stolen phones when you pay your bill with the card. You can even get advance access to concert, theater and event tickets (once live events return) through American Express Presales.

As far as retail perks go, you’ll get reimbursed for items damaged or stolen within 90 days of purchase (up to $1,000 per loss), as well as an extended warranty, as long as you’ve paid for the items with the card.

The card has some solid travel benefits too. You’ll get travel accident insurance and a lost luggage reimbursement (if you paid for your lost luggage with this card), plus car rental loss and damage insurance, roadside assistance and 24/7 travel and emergency assistance, as well as emergency cash advances.

Should You Get This Card?

This is a great option for credit card beginners who want a no annual fee card with rewards across a range of categories and a simple (but limited) rewards program for redemptions.

It earns 3x bonus points on a handful of categories: dining, including at restaurants, on takeout, and at bars; travel, including hotels and flights; driving, including at gas stations, on rideshares and transit; and popular streaming services. These streaming services include popular providers, such as Netflix, Hulu, Disney+, Amazon Prime, Apple Music, Spotify Premium and more.

You’ll earn points rewards as Wells Fargo Go Far Rewards points, not American Express Membership Rewards points. Unlike potentially more valuable Membership Rewards points, Go Far Rewards points are worth a fixed 1 cent each, and provide less flexibility than Amex points. You can redeem Wells Fargo Go Far Rewards points on travel, cash back or gift cards through the issuer’s Go Far Rewards travel portal. This can be a selling point for people who are looking for simplicity, instead of dealing with transferring points to partners. But rewards programs with transfer partners, like Amex or Chase, can usually offer much more value when you’re ready to redeem. Your points do not expire as long as your account is open.

How to Use the Wells Fargo Propel American Express Card

The top feature of the Wells Fargo Propel card is its earning rate across bonus categories. Maximize your spending by using this card on your dining, travel and streaming services. This is a great way to rack up points that you can use for cash back or travel, and 3x points is especially notable in a card without an annual fee.

By comparison, the Chase Sapphire Preferred® Card comes with a $95 annual fee and offers 3x points on dining and 2x points on travel, although it does come with other notable perks, such as a complimentary DashPass membership for a minimum of one year (activate by 03/31/22).

You’ll also get 20,000 Go Far Rewards points (worth $200 in cash redemptions) after spending $1,000 in the first three months. This is a great value, but only if you were going to spend the money anyway and are able to pay your credit card bill in full every month. Do not spend money you wouldn’t otherwise just to make a credit card bonus. 

This card can also be a great choice to take with you on international trips once it’s safe to do so again, as it does not charge any foreign transaction fees.

It also does not charge interest for the first 12 months from account opening on purchases and qualifying balance transfers, though it has a variable rate between 14.49% to 24.99% after that. These rates are comparable to other no annual fee cards such as the Bank of America® Customized Cash Rewards® credit card* and the Citi Rewards+® Card

Wells Fargo Propel American Express Card Compared to Other Cards

Our Choice
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Chase Freedom Unlimited®

Chase Freedom Unlimited®

Editor’s Score: (4.7/5)
  • Intro offer:
    Earn an Additional 1.5% Cash Back
  • Annual fee:
    $0
  • Regular APR:
    17.24% – 25.99% Variable
  • Recommended credit:
    670-850 (Good to Excellent)
  • Apply Now externa link icon At Chase’s secure site
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Chase Freedom Flex℠

Chase Freedom Flex℠

Editor’s Score: (4.7/5)
  • Intro offer:
    $200
  • Annual fee:
    $0
  • Regular APR:
    17.24% – 25.99% Variable
  • Recommended credit:
    670-850 (Good to Excellent)
  • Apply Now externa link icon At Chase’s secure site
Learn More externa link icon
American Express Cash Magnet® Card

American Express Cash Magnet® Card

Editor’s Score: (3.8/5)

Bottom Line

The Wells Fargo Propel American Express card is a no annual fee credit card that offers travel rewards paired with simplicity and ease of use. You can earn points to redeem for travel, cash back, or gift cards  — all without an annual fee or foreign transaction fees. We recommend this card for people who are starting out with credit cards or looking for a straightforward rewards program, without paying a fee.

*All information about the Wells Fargo Propel American Express Card and Bank of America Customized Cash Rewards credit card has been collected independently by NextAdvisor and has not been reviewed by the issuer.

Frequently Asked Questions

What credit score do I need for the Wells Fargo Propel American Express card?

You’ll need good to excellent credit, between 670 and 850, to get approved for this card.

Does the Wells Fargo Propel American Express card have an annual fee?

No, the Wells Fargo Propel American Express card does not have an annual fee.