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Should you get a Wells Fargo Propel card? ($500+ first year value)

by on Fri May 2, 2014 • 1 Comment

Wells Fargo Propel

May is starting with a flurry of new deals from mile and points credit cards.

From the return of the 50k Lufthansa offer, to the 60k Ink Bold and Plus deals there are lots to choose from.

Now you can add another to your mix.


Wells Fargo has just launched its premium Propel World American Express with a generous offer.

You’ll get 40,000 points after you spend $3,000 on the card within 3 months. And those points can be used to buy a plane ticket on any airline. They are worth one cent each according to Wells Fargo’s terms and conditions for the card.

There’s no annual fee the first year, but it goes up to $175 thereafter.

Wells Fargo makes you redeem for plane tickets via its website, which is annoying, but it makes up for it by allowing partial redemptions in $25 increments, so you don’t need enough points to cover your full airfare, giving you good flexibility

The card also has an annual $100 airline fee credit you can take advantage of even during the first year with no annual fee.

The credit is applied automatically when you make a purchase from an airline of $100 or less. The purchase can be anything but a plane ticket, so gift certificates will count.

And if you make a purchase larger than $100 it won’t get automatically credited, but you can call in to ask that the first $100 of it gets credited. You can see all the details here.

This means you could make out with $500 in reward value in your first year of using the card.

This is also a Chip + PIN card

This card has an EMV chip built-in, and while it defaults to signature processing, it has a PIN feature available as a backup for cases where signature is not accepted.

Should you keep the card after the first year?

Tough to say. It has generous bonuses on airfare (3x) and hotel spending (2x) but with a $175 fee after the first year it’s hard to be competitive with a 2x on all purchases card like the Barclaycard Arrival.

You can see how it stacks up versus other cards using our CardFinder tool.

We also included the Propel World card’s junior sibling, the Propel 365, with a $45 annual fee and lower 20,000 point bonus, but 3x on gas, 2x on restaurants.

If you have a very large balance with Wells Fargo ($250,000+) you can get a 50% bonus on all base points earned each year, which can make it more compelling. But that’s a small group of people.

An alternate annual bonus of 10% is available if you have a Wells Fargo Checking Account.

Wells Fargo doesn’t have a lot of other rewards cards, so this is a way to diversify the banks you are applying from. The bureau they pull varies by state, but most of the time it’s from a single bureau so there isn’t an inordinate cost to applying from them.

If you’re organized and like to keep up on bonus offers, it’s worth considering for your rotation.


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Chase Sapphire Preferred® Card

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Intro Offer

$0 introductory annual fee, then $95

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One thought on “Should you get a Wells Fargo Propel card? ($500+ first year value)

  1. William Charles

    Also a checking bonus, says it’s expired but lots of people have called to get it added.


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