Wells Fargo Propel American Express Review

Robin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.

Robin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.

Robin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.

Robin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.

Caroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.

Caroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.

Caroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.

Caroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.

| Managing Editor, Credit Cards & Travel Rewards

Updated: May 1, 2024, 5:21pm

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Our Verdict

Editor’s note: The Wells Fargo Propel American Express Card is not currently available to new applicants. For alternatives, see Forbes Advisor’s list of Best Cash Back Cards.

If you’re seeking a travel card that carries no foreign transaction fees and racks up the points on nearly every way you can spend, the no-annual-fee Wells Fargo Propel American Express® Card will accelerate your points-earning potential with a high earn rate across multiple categories of spending. Throw in an introductory APR offer and a solid welcome bonus and the card is one of the most-well rounded and generous you’ll find without an annual fee. Although there are no fancy perks like lounge access or travel credits, there’s no hefty annual fee either.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Introduction

The Wells Fargo Propel card is a near-perfect choice for those who want to score high earnings but can’t stomach the idea of paying an annual fee for a credit card. Before COVID-19 upended the world’s ability to move about freely, the Propel card made it easy to score above-average rewards in multiple common areas of spending.

Now, even with extensive travel off the table for many for the foreseeable future, the Propel card still remains a compelling choice for its strong rewards rate on multiple categories. That’s because your earnings, known as Wells Fargo Rewards, can be used for more than just travel redemptions. Other options for your stash include statement credits, cash back from a Wells Fargo ATM or gift cards.

In fact, the biggest downside to the card is simply that it lacks bonus rewards on categories like supermarket spending, an area that’s seen a significant uptick in household spending since the start of the pandemic.

Why you can trust Forbes Advisor

Our credit card editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below.

• 210 Credit Cards Ranked
• 28,000 Data Points Collected
• 5 Levels of Fact-Checking
• 95 Categories Considered

At a Glance

• No annual fee
• Earn 3 points per dollar on eating out, ordering in, gas stations, rideshares, transit, flights, hotels, homestays, car rentals and streaming services. All other spending earns 1 point per dollar
• No travel transfer partners or perks like lounge access
• Pay your monthly bill with the card and get cell phone insurance

Rewards

Earning Rewards

The Wells Fargo Propel card earns 3 points per dollar spent in the following categories:

• Eat & Drink. This includes dining in a restaurant, takeout, delivery and bars.
• Ride & Drive. This includes gas stations (except those at places that may not code as gas stations including warehouse clubs), car washes, rideshares, passenger railways, taxis, limousines, ferries, toll bridges and highways, parking lots and garages.
• Fly & Stay. This includes flights, hotels, homestays and car rentals.
• Watch & Listen. This category includes multiple eligible streaming services such as Apple Music, Apple News+, Apple TV+, Amazon Music Unlimited, Audible, Disney+, ESPN+, fuboTV, HBO Now, Headspace Inc., Hulu, Kindle Unlimited, Netflix, NHL.TV, Pandora, Prime Video, Sirius XM Radio Inc. and Spotify Premium

All other spending earns 1 point per dollar. Rewards are unlimited and never expire as long as your account remains active.

Redeeming Rewards

Points are worth a penny each and can be redeemed for:

• Travel booked through Wells Fargo
• Gift cards for a large variety of vendors starting at $25 for 2,500 points
• Charitable donation via redemption for a Charity Choice gift card
• Transferring or pooling your points with another eligible Wells Fargo customer or card
• Merchandise via the Wells Fargo Rewards catalog
• Cash in one of the following ways:
  • A statement credit to your card account in $25 dollar increments
  • Transferred to your eligible Wells Fargo checking or savings account in $25 increments
  • Withdrawal at a Wells Fargo ATM in $20 increments with a Wells Fargo ATM card or debit card

  Those who also have the Wells Fargo Visa Signature® Card can combine their points and take advantage of that card’s 50% points bonus when redeeming for airfare via Wells Fargo. For example, 20,000 points is worth $200 cash back or $300 if redeeming for airfare.

  Rewards Potential

  To calculate the rewards potential of the Wells Fargo Propel, Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $100,172 annually and has $52,820 in standard expenses. Assuming 50% of such expenses are charged to this card, total annual card spending would be $26,410.

  Forbes Advisor estimates that our sample household spends a combined $10,721 total on travel, dining, gas and/or transit and streaming services, netting a total of 32,163 points. We estimated that the remaining annual household credit card spending that could be put on a credit card is $15,689. If all of that spending is put on the Wells Fargo Propel card, the cardholder would earn an additional 15,689 points. The total earnings of 47,852 points per year are in addition to earning the first-year welcome bonus.

  Featured Partner Offers

  Chase Sapphire Reserve® On Chase Bank USA, NA's Website Welcome Bonus 60,000 bonus points Annual Fee Credit Score Regular APR 22.49%-29.49% Variable

  Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

  Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

  Capital One Venture X Rewards Credit Card On Capital One's Website Welcome Bonus Earn 75,000 bonus miles Annual Fee Credit Score Regular APR 19.99% - 29.99% (Variable)

  Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

  Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.

  Chase Sapphire Preferred® Card On Chase Bank USA, NA's Website Welcome Bonus 60,000 bonus points Annual Fee Credit Score Excellent, Good Regular APR 21.49%-28.49% Variable

  Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

  Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

  0% Introductory Rates

  Check your cardholder terms for any current introductory offers available to you.

  Other Card Benefits

  In addition to cell phone insurance, which comes with all Wells Fargo credit cards, as an Amex card, the Propel offers several other benefits:

  • Cell Phone Insurance: Pay your monthly bill with the Propel and get up to $600 coverage against damage or theft, minus a $25 deductible. There is a maximum of two claims per 12 month period
  • Extended Warranty: Get double the manufacturer’s warranty of one year or less on eligible products purchases with the card
  • Retail 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
  • Worldwide Assistance: Access to 24-hour worldwide emergency assistance
  • Roadside Assistance: Access to 24-hour roadside assistance for your passenger card, motorcycle or RV
  • Car Rental Loss and Damage Insurance: Receive secondary coverage when you rent an eligible vehicle and pay for it with your card or Wells Fargo Rewards

  Fine Print

  See your cardholder agreement for rates and fees.

  How The Card Stacks Up

  Chase Freedom Flex®

  If you have the tolerance to track rotating bonus categories, there’s a good chance that the Chase Freedom Flex can fit most of your household’s spending needs. The no-annual-fee card earns 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.

  When paired with a premium Chase card like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, cash back earned through the Freedom Flex can be combined with the Chase Ultimate Rewards points from those cards. Chase Ultimate Rewards points can be redeemed for travel through Chase with a 25% to 50% boost in value, depending on which card you have, or transferred to airline and hotel partners like United and Hyatt.

  It also comes with a top-notch welcome bonus: $200 bonus after spending $500 on purchases in the first 3 months from account opening.

  Bank of America® Travel Rewards credit card

  The Bank of America® Travel Rewards credit card carries no annual fee and earns an unlimited 1.5 points per dollar spent on all purchases. Depending on how you spend, that could work out to be more—or less—than your overall earnings on the Propel.

  The card is especially lucrative for Bank of America Preferred Rewards members, who can earn a bonus of 25% to 75% on every purchase. For those at the highest tier of the Preferred Rewards chart, that could snag you as much as 2.62 points per dollar spent on every purchase.

  There are also no foreign transaction charges with the Bank of America Travel Rewards card.

  Blue Cash Preferred® Card from American Express

  If travel isn’t on your agenda and you’re stocking up at the supermarket on the regular, the Blue Cash Preferred Card from American Express (Terms apply. See rates & fees) may align with your spending habits more closely than the Wells Fargo Propel.

  The Blue Cash Preferred card offers the following rewards: 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. It carries an annual fee of $0 intro annual fee for the first year, then $95 and has a foreign transaction fee which could be deal-breaker for some. But for typical families who spend a lot of time on the go and have a sizable grocery bill, this card is one of the best for grocery purchases you’ll find (as long as you shop at U.S. supermarkets) .

  Is The Card For You?

  The Wells Fargo Propel American Express is an all-around robust card for anyone with varied spending across multiple categories. It doesn’t come with exclusive travel perks and benefits but it also doesn’t come with a big cost of ownership, making it a near-perfect starter card for anyone who travels outside of their front door. But if your biggest trip is typically to get groceries, look to a card that offers rewards on that instead of hotels or airfare.

  To view rates and fees for the Blue Cash Preferred® Card from American Express visit this page.