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All sorts of cards are getting my attention with my impending sub-5/24 status looming near.
High on the list: the Wells Fargo Propel Amex (learn more here). This card has:
- A sign-up bonus of 30,000 bonus points (worth $300 in cash back, travel, gift cards, or other rewards) after completing minimum spending requirements
- Really good 3X bonus categories
- NO annual fee
- Up to $600 in cell phone insurance when you pay your wireless bill with the card
While I usually prefer cards that earn points toward award travel, there’s a lot going for this cashback card – especially considering it’s free to keep long-term. It’s a strong card for active lifestyles, and for peeps who don’t want to pay an annual fee.
Let’s take stock!
Wells Fargo Propel Amex Review – A hidden gem with no annual fee
- Wells Fargo Propel Amex – Learn more at my CardRatings link
Most cards I use earn miles or points for award flights or hotel stays. But when I slip below 5/24 in July, I can get a card just because it has a decent sign-up bonus. Like the old daze!
With the Wells Fargo Propel Amex, you’ll earn 30,000 bonus points (worth $300 in cash back, travel, gift cards, or other GoFar rewards) after spending $3,000 on purchases within the first 3 months of card opening. Read more about it here.
$300 in rewards is a generous offer for a card with NO annual fee. While that’s reason enough, let’s talk about those bonus categories.
You’ll earn 3 points per $1 spent on:
- Eating out and ordering in (so restaurants and delivery services)
- Gas stations, rideshares (like Uber and Lyft), and transit/commuting passes ⛽️🚘🚉
- Most travel, including flights, hotels, homestays (like Airbnb), and car rentals
- Eligible streaming services, like Apple Music, Spotify, Hulu, and Netflix 🎶🎬
And 1 point per $1 spent everywhere else.
That’s awesome! If you travel, spend a lot on gas, eat out often, commute, or subscribe to streaming music and movie services, you can do well with this card.
I like how it’s tailored for an active lifestyle, but also rewards relaxation, like ordering takeout or watching movies at home.
When you use the card to pay your monthly cell phone bill, you’re covered against damage or theft with up to $1,200 in cell phone insurance per 12-month period (with a maximum of $600 per claim, subject to a $25 deductible).
You’ll also get:
- Purchase & return protection
- Extended warranty
- Lost or damaged baggage insurance
- Wells Fargo Propel Amex Offers and presale access (some of the offers are actually worthwhile)
There are also NO foreign transaction fees, which is great for a card with no annual fee.
Keep in mind when you use this card to pay for car rentals, the insurance coverage provided is secondary and only available for rentals in North America. So I’d recommend using a card with primary insurance instead, especially when renting a car overseas.
Still, I’m impressed with the bounty of bennies – and cashback earnings – you get with this card.
How does the Uber Visa compare?
Inevitably, someone will say the Uber Visa is the better pick because it earns:
- 4% back on dining
- 3% back on airfare, hotels, and homestays (same as Wells Fargo Propel Amex)
- 2% back for online purchases, Uber rides, and eligible streaming services
- 1% back on everything else
You’ll also get a $100 sign-up bonus when you spend $500 on purchases in the first 90 days. And, a $50 statement credit for online subscription services when you spend $5,000+ on your card per year (which is essentially a 1% return).
It also has no forex fees, and $600 in cell phone insurance – just like the Wells Fargo Propel Amex. And it’s a Visa card, which is more accepted than Amex card.
So which is better?
I call the 2% cashback categories a moot point because there are so many cashback cards that earn 2% on every purchase, like the Fidelity Visa (read about it here).
And 4% on dining is great, but the Wells Fargo Propel Amex has more than enough 3% cashback categories to earn with – including gas and transit.
And the Wells Fargo card has a much better sign-up offer, and other benefits are mostly the same or better.
So it’s a bit of a wash and will come down to personal preferences… but I’d go for the Wells Fargo Propel Amex over the Uber Visa, if only for the better $300 sign-up offer (versus just $100 with the Uber Visa). All else being equal, I’d recommend most peeps do the same.
- Wells Fargo Propel Amex – Explore it at my CardRatings link
The Wells Fargo Propel Amex has everything I look for in a credit card: great welcome offer, excellent bonus spending categories, useful ongoing benefits.
All said, the sign-up bonus is worth $300 after meeting minimum spending requirements, and ancillary perks like cell phone insurance, no forex or annual fees, Amex Offers, and travel/purchase protections make this card worth opening, using, and keeping long-term.
While I’ll stick to my points cards for most purchases, I’ll likely scoop this one up after I’m under 5/24 for an easy $300. This card was recently refreshed, and I gotta say: Wells Fargo did an excellent job with it.
Would you consider getting this card? Why or why not?* If you liked this post, consider signing up to receive free blog posts in an RSS reader and you’ll never miss an update! And thanks for using my links to apply for new card offers!
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