[Application link: 40,000 Propel points with $3,000 spend in three months]
The Propel World credit card does not get as much attention as it’s rewards counterparts. But the Wells Fargo option offers considerable value, especially as one of the only rewards options offered by the bank. Here are the details:
- 40,000 Propel points after spending $3,000 in three months
- 1 point per $1 spent everywhere
- $175 annual fee (first year waived)
- 3 points per $1 spent on airlines, 2 points per $1 spent on hotels
- Up to $100 per year in reimbursements toward incidental airline charges
- Complimentary room upgrades and more from the Luxury Hotel Program
- No foreign transaction fees
- Approval difficulty: Moderate (680+ credit score with decent income)
- Churn status: Bad (1 card per lifetime, dependent on address card is shipped to)
The first question you are likely wondering is: what are Propel points, and what are they worth? Let’s start with the former. Propel points are not transferable to major airlines and hotels, meaning they are not as valuable as Chase Ultimate Rewards or American Express Membership Rewards – the cream of the crop in terms of value-per-point.
Unfortunately the redemption options are largely not as valuable as the Barclays Arrival or Capital One Ventureas well, both of which have a feature that allows 100 miles to negate $1 in travel purchases (travel purchases being a pretty broad category). Which is a long winded way of saying Propel points aren’t worth as much as their bank branded counterparts for simple, broad redemptions.
But I still recommend applying for the card – here’s why. 100 Propel points can be used primarily in two ways: for $1 worth of gift cards (in $25 increments), or as much as $1.75 in travel through their travel portal (read more here). And while those are low dollar amounts, extrapolate that to the 43,000 points you'd earn from spending to hit the bonus, and we are talking $430 to $750 worth in value, plus an additional $100 in incidental airline charges.
For $3,000 in spend over 3 months – a relatively easy figure – and realizing that Wells Fargo does not have many other options, the Wells Fargo Propel World credit card could absolutely fit into your card-churning plans. And while the $175 annual fee is steep, it is also waived the first year meaning that you are not risking any hard dollars with an application.
One last positive note: those with a Wells Fargo checking or savings account may also obtain an annual bonus of non-bonus miles earned, meaning just another way to accumulate value. These are all good reasons to consider this as your next credit card – especially for those that have exhausted applications at more traditional rewards banks – and application details are below.
Click to apply:40,000 Propel points with $3,000 spend in three months.
Personal application support line: 1-800-932-6736.
Click here for the Wells Fargo contact page.
Disclaimer: Photos credit to Wells Fargo.