Wells Fargo Propel American Express Review

Wells Fargo recently refreshed the Propel credit card to add more benefits. The card has a historic high signup bonus worth $300, and if you have right two-card setup from Wells Fargo, it could be worth $450.

Wells Fargo Propel Amex

  • Annual fee: $0
  • Signup bonus: 30,000 points after $3,000 in spend within the first 90 days of account opening
  • Earn 3X points on dining
  • Earn 3X points at gas stations, rideshares, and public transportation
  • Earn 3X points on travel
  • Earn 3X points on streaming services
  • Earn 1X points everywhere else
  • Cell phone protection

Cell Phone Protection

The Wells Fargo Propel's "superpower" is that it's one of the few cards on the market that has cell phone protection.

How it works

  1. Pay your monthly cell phone bill using the Propel card
  2. Get up to $600 protection against damage or theft
  3. You'll be subject to a $25 deductible each claim

The fine print

  • Reimbursement is limited to the repair or replacement of your original cell phone, less the $25 deductible. 
  • Maximum benefit limit is $600 per claim and $1,200 per 12 month period
  • Must pay the monthly cell phone bill with eligible Wells Fargo consumer credit card to qualify
  • Does not cover cell phones that are lost (i.e. disappear without explanation)
  • Does not cover cell phones that are rented, borrowed, or received as a prepaid plan
  • Electronic failure or issues related to software are not covered
  • Coverage begins the first day of the calendar month following your first cell phone billing on your Wells Fargo consumer card and remains in effect as long as you continue to charge the full monthly bill to the card

Read the full terms of service on the Wells Fargo website: https://www.wellsfargo.com/credit-cards/features/cell-phone-protection/

Value of Points

Wells Fargo points are worth 1 cents per point (CPP) if you redeem for cash back, travel, gift cards, or charity donations. 

  • 3X points = 3% cash back

If you redeem points for travel using only the Wells Fargo Propel card, points are worth 1 CPP.

The optimal strategy is to redeem the points for cash back and then charge travel to the Propel card to earn 3X.  

Pooling Points

According to TPG, the best way to get the most value from the points is to redeem them for travel, but you'll also need to get the Wells Fargo Visa Signature card to redeem points at 1.5 CPP via the Wells Fargo Travel Portal.

  • Travel portal (w/ Wells Fargo Visa Signature) = 1.5 CPP
  • 3X * 1.5 CPP = 4.5%

You effectively earn 4.5% on 3X categories if you have this two-card setup. 

You can pool the points earned from the Wells Fargo Propel Amex card to the Wells Fargo Visa Signature card via Go Far Rewards.

If you spend $50,000 or more per year on the Wells Fargo Visa Signature card, you can redeem points for travel via the portal at 1.75X.

Spend $50,000+ on Wells Fargo Visa Signature:

  • 3x * 1.75 CPP = 5.25%

If you meet the spending requirements to redeem points at 1.75 CPP, then 3X categories are essentially 5.25%.


The Wells Fargo Propel card is a good all-around option since it earns 3X on desirable categories, has cell phone protection, no annual fee, and it has a decent signup bonus worth $300.

The card is ideal for people who are interested in cash back and don't want that many cards in their wallet.

Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities. 

UGC disclosure: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.