Wells Fargo Propel American Express Card is Back, $300 Bonus Plus 3X on Restaurants and Travel
Wells Fargo is revamping and relaunching one of its credit cards again. The Wells Fargo Propel American Express Card has not been available for new signups for month, but will be back on July 16th. The card will also come with a respectable bonus of $300 and no annual fee.
Wells Fargo Propel American Express Card
Business Insider revealed today the changes and the relaunch date for the Wells Fargo Propel American Express credit card. The card will have several popular categories that will earn 3X points, similar to the Chase Sapphire Reserve. But there’s no annual fee on this card.
The new Propel card will offer 3x points per dollar spent on dining, including restaurants, bars and delivery services, and travel which includes gas. The card will offer 3x points on streaming services, and 1x point on everything else.
The new revamped card should be available for applications on July 16th. Current customers of the original Propel will be converted to the new card and benefits automatically.
The Propel Card is issued by Wells Fargo but runs through American Express network which means that it will have Amex Offers and offer some purchase protections.
Signup Bonus
Earn a sign-up bonus of 30,000 points (worth $300) when you apply for a new card and spend $3,000 in the first three months.
Analysis
The points are worth 1 cent each when redeemed toward cash back, gift cards, purchasing travel, or more.
TPG reports that the Wells Fargo Propel American Express card will earn Go Far Rewards, which means that you can get even more value.
If you have a Wells Fargo Visa Signature Card you can combine your Go Far Rewards and use them for airfare through their travel portal for a value of 1.5¢ per point. If you spend $50,000 in a calendar year on the Wells Fargo Visa Signature Card, the value of the Go Far Rewards 1.75¢ per point.
That does require you to have an extra card, but it means that you would be earning 5.25¢ per dollar on restaurants, gas etc. Even the signup bonus would be worth more.
Points can’t be transferred to travel partners, but the Business Insider article does mention that “ability to transfer points” could come in the future.
Conclusion
This is a very solid offer that gives you at least $300 for signing up and good earning rates on categories such as restaurants and travel. There’s no annual fee, and if combined with a Wells Fargo Visa Signature Card, points get even more valuable. Plus you can take advantage of offers from American Express.
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Why would anyone in his right mind patronize WF, a company that has repeatedly scammed, defrauded and otherwise ripped off it’s own customers to the point where they’ve had to be fined $1B by the gov’t for the offenses? On top of that they fund assault weapons manufacturers and are in bed with the NRA. And now there’s that half-hearted, empty, BS apology in the form of their “reinvented” ad campaign. Barf. I’ll get my 300 points elsewhere, thanks.