The Wells Fargo Propel credit card is an excellent option for those who want to earn a lot of rewards but don’t want to pay an annual fee for a credit card. Prior to COVID-19 upending the world’s freedom to travel freely, the Propel credit card made it simple to earn above-average rewards in a variety of common spending categories. It’s evident why this card has been in popular demand for so long.
Many people will be unable to travel extensively in the near future. Still, the Propel credit card remains a compelling option due to its high rewards rate across multiple categories. That’s because your profits, dubbed GoFar Rewards, can be used for purposes other than travel. Statement credits, cashback from a Wells Fargo ATM, and gift cards are all options for your stash. In reality, the card’s most significant flaw is that it doesn’t offer bonus incentives on categories like grocery shopping, which has seen a substantial increase in household spending since the outbreak began.
Benefits of having a Wells Fargo Propel card
The Wells Fargo Propel card’s benefits are relatively common. But, it does have a few features that set it apart from other no-fee travel cards. Its most notable feature is mobile phone insurance. It reimburses you up to $600 if your phone is damaged or stolen and you pay your bill with your Propel credit card. The card also has some valuable extras for frequent travelers. If required, perks like lost luggage and travel accident insurance can add up to substantial savings.
When you pay your monthly bill with the Propel credit card, you will get up to $600 in coverage against covered injury or theft (subject to a $25 deductible). For a card with no annual charge, that’s a significant advantage. In addition, extended warranty coverage, refund security, coverage for misplaced or stolen goods purchased with the card, travel accident insurance, lost luggage coverage, and secondary car rental insurance in the United States are all included in the Propel.
When you spend $1,000 on transactions in the first three months of your Propel Amex account, you’ll get 20,000 bonus points. It translates to $200 in cash back, travel benefits, or gift cards. And if you have the correct one-two combination of Wells Fargo credit cards, you will get 50% more money out of this bonus. This takes your total to $300. This is a great deal if you compare it with some of the other deals out there.
Wells Fargo’s welcome offer restrictions are a little vague, so double-check your application background before applying. You can only get one Wells Fargo credit card every six months, even if you don’t want the incentive. Also, you can only earn one Wells Fargo welcome deal every 15 months across all items. Since this law applies to the Propel Amex, certain applicants would be unable to qualify for the bonus. Even if you aren’t qualified, it’s worth applying to get some bonus categories without having to pay an annual charge.
Is the Wells Fargo Propel card for you?
This credit card has a little bit for everyone. It’s ideal for beginners who aren’t ready to commit to a costly premium card. Also, If you aren’t comfortable redeeming transferable points due to the lack of an annual fee, it’s great for you. Likewise, for those who don’t want to waste time or money coping with credit card rewards. The convenience of redeeming your Go Far Rewards for cashback (or air travel) is ideal.
Travel, dining (both eating out and ordering in), gas stations, and standard streaming services are all 3x bonus categories that are well-suited to people who want to get the most out of their daily purchases. The latter two are particularly appealing because you won’t find them on most other credit cards. Also, you’ll get monthly rewards. In addition, this card is now available to the general public. It used to be challenging to get approved for a Propel card if you didn’t have a proven banking partnership with Wells Fargo. It’s now open to both customers and non-customers.
All about redeeming points
Your Propel rewards money, Go Far Rewards points, are worth a fixed 1 cent each. You can exchange your points for flights, gift cards, charitable contributions, or cashback. But the majority of redemptions will earn you one cent per point. This means that while you won’t be able to get better-than-average redemptions with this credit card alone, you won’t have to worry about award charts, award availability, or always having the best redemption value.
You can also gain a higher value from your points. How? You can do this by combining your Go Far Rewards from different Wells Fargo cards. The Wells Fargo Visa Signature Card, in particular, allows you to redeem for airfare through its portal for 1.5 cents per point, with a cost of 1.75 cents per point if you spend $50,000 or more per year on the credit card. Your regular 3x bonus categories with the Propel will multiply to 4.5x or even 5.25x points with this mix. It depends on your spending habits. These cards, when used together, have some of the most helpful bonus categories available. That’s a near-unprecedented return for a pair of cards that have no annual fee.
The Wells Fargo Visa Signature comes with an unusual welcome bonus right now. Rather than collecting a set number of points, you can receive 5x points. You can get these points on the first $12,500 spent at gas stations, grocery stores, and drug stores during the first six months as a cardholder. Wells Fargo seems to be counting these 5x as a welcome bonus. But, you’ll have to wait 15 months to earn the bonus.
Final Verdict about the Wells Fargo Propel card
If you’re looking for a travel credit card with no foreign transaction fees and a high earn rate across various categories of spending, the Wells Fargo Propel Card, which has no annual charge, is a great option. With an introductory APR deal and a generous welcome bonus, this is one of the most well-rounded and generous credit cards available without an annual charge. There are no glitzy extras, including lounge access or travel credits, but there is no hefty yearly charge. To see reviews on more credit cards, visit us!