Apparently card revamps come in threes, and it’s the month of credit card overhauls. First, Barclays changed some benefits on its co-branded Frontier Airlines credit card. Then, The Hyatt Card turned into the World of Hyatt Credit Card and offered new point earning opportunities. And now, the Wells Fargo Propel American Express Card is back with a generous welcome bonus and new earning structure.
New cardholders who are approved and spend $3,000 on it in the first three months of account opening will earn 30,000 points as a bonus, equal to $300. I can’t think of a higher sign-up bonus on a no-fee credit card.
Interested in this card or others like it? Head HERE.
Additionally, the card will earn triple points in the following categories: dining, gas stations, rideshares, transit and travel. All other purchases will earn 1X point per dollar. The rewards structure is similar to that of the popular Chase Sapphire Reserve Card, except you don’t have to shell out $450 in annual fees every year. (Of course, the two cards offer different levels of travel benefits.)
If most of your spending falls into the aforementioned categories, it’s worth looking into this credit card. As long as you can manage at least 1.5 to 2 points across all spending, it’ll benefit you. Having said that, the Wells Fargo Propel Card is not the best option for those consumers who make the majority of their purchases outside of the bonus categories.
The card also offers a no-Annual Percentage Rate promotional period. For the first 12 months of being a cardholder, the interest you’ll pay on purchases and balance transfers will be 0 percent (balance transfer fees apply). It’s a generous time frame for those looking to make a large purchase without having to pay interest on a short-term loan with a bank.
Interested in this card or others like it? Head HERE.
As far as cashback credit cards go, this card is a solid option. Every point you earn is worth 1 cent, and the rewards are unlimited, so there’s a potential to make out like a bandit here.
What are your thoughts on the revamped Wells Fargo Propel American Express Card?
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