Posted by Chuck on July 16, 2018
Credit Cards

Published on July 16th, 2018 | by Chuck

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Revamped Wells Fargo Propel Now Live with 3x Dining, Gas, Travel, Streaming and 30,000 Points Signup Bonus

Update: The card is now live and available here.

The card has been unavailable for signups for the past few months. Existing Propel cardholders will be converted to the new card automatically. Propel World and 365 cards will remain unchanged (the 365 card is no longer available for new applicants).

Details

Direct Card Link

  • No annual fee.
  • No foreign transaction fees.
  • Runs on the American Express network. It’ll be eligible for some Amex Offer deals.
  • Like other Wells Fargo personal card, the card will come with cell phone protection.
  • Come with other standard Amex protections as well.

Wells Fargo typically only accepts card applications who have some relationship with the bank. However, with this card they’ll be offering the card to everyone.

Signup Bonus

The signup bonus will be as follows:

  • Get 30,000 points after spending $3,000 within 3 months.

Points Earnings

The card earns Go Far Rewards, the same points currency as the Wells Fargo Visa Signature card. Earns the following rates:

  • 3x on dining, transit, travel, and streaming services. The “transit” category is said to include even things like gas and ride share services.
  • 1x everywhere else.

Points can be redeemed at a rate of 1 cent per point as cash back, travel, gift cards, or charity donations.

TPG notes that if you hold both the Propel and the Visa Signature, it will be possible to use the points to book travel at 1.5 cents per point since that’s a benefit of the Visa Signature card. You’ll even get 1.75 cents per point if you spend $50,000 in a year on the Visa Signature card. By combining the two, you can get a terrific return of either 4.5% or 5.25% value on the dining, travel, transit, and streaming categories.

Final Thoughts

The card does not come with any transfer partners, though it’s worth noting that the bank is quoted as saying: “We’re continuing to innovate, and the ability to transfer points, as well as other features, is in our potential roadmap.” That could make things more interesting if it ever happens.

Earning 3% back on all dining and travel, even including things like gas, is a nice earnings rate for a no-fee card. That said, most of our readers won’t find the card useful due to numerous other cards which match or exceed that value. Particularly if you have the Chase Sapphire Reserve, there’s not much more to gain with this card. Plus, a lot of people are getting the equivalent of a 2.5-3% return on their everyday spend with a card like the Blue Business Plus, for example, which makes this card of little interest.

If someone has/gets the Wells Fargo Visa Signature with the ability to book travel at 1.5-1.75%, then the card becomes significantly more interesting, especially if you don’t have the Sapphire Reserve card, as you’ll be earning 4.5-5.25% on the bonus categories. And of course a lot of people will be interested in the $300 signup bonus as well.

Keep in mind you can only earn one Wells Fargo bonus every 15 months. It’s worth reviewing the other Things to Know about Wells Fargo Credit Cards before applying.

Hat tip to scap3y on r/churning, TPG, and Nerdwallet

[Post has been updated]



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Does a PC reset the 15 month clock? I want this one but don’t want to be SOL by PC instead of cancelling the old propel. AF hit beginning of the month.

I would imagine so, given that WF doesn’t do traditional product changes.

https://www.doctorofcredit.com/best-downgrade-options-rules-for-each-card-issuer-rules/#comment-410136

I’d be interested in DPs here. When the Propel World AF hits it would be nice to PC to something useful like this new card

I’m confused here. There was previously a Propel (no AF) and a Propel World ($175 AF). The image at the bottom is the Propel World. Did they really re-brand a premium travel CC into a no-fee card?

Do you think these points would be able to be pooled with other Wells Fargo points? With the WF Advisors rewards card I can get 1.5¢ per point for travel bookings so if I could then earn 3 points per dollar on some categories that could be a huge return

To clarify, the 1.5/1.75x uplift does not require the Advisors version of the Visa Sig card.

Can someone confirm this doesn’t count as 1 of the 5 with Amex? I’m 99% sure it wouldn’t being Wells Fargo and simply running on the Amex network but better safe than sorry!

It doesn’t.

Confirmed

Excellent, thanks both!

Thank you for asking the question. I had the same exact one! (Also thanks to Josh and W for answering!).

If you have WF signature card, can’t u transfer these points and get an effective 4.5% return?

This is mentioned in the post.

Now we just need their CashWise to earn 1.5x Go Far Rewards instead of cash, and maybe a permanent 1.8 or 2x when you use Apple Pay

It does.

I thought the propel world was still available via phone app, when did that end?

I think it’s still available?

This is pretty nice for a no-fee card. The 3% flat cashback for travel is already great for anyone allergic to annual fees, with combining point this should be the go-to combination for anyone who doesn’t want $450 annual fee cards.

A few comments:
– Points for travel is less valuable than cashback: with 4.5% cashback you’d pay $95.5 for $100 of travel, with 3x points and 1.5c/points you’d pay $100 for $104.5 of travel – or $95.69 for $100. So it’s really just 4.3% return. With the 1.75c/point redemption, the return is 4.99% ($100 for $105.25).
– If you pay partially with points (not sure if it’s even possible), you might have to pay the cash part with the 1x Signature card not the 3x card, further devaluing the points.
– According to Nerdwallet you can transfer CashWise cashback to the Signature card too, making it a 2.15% return card – not 2.25% because the previous point. (or 2.51% with the 1.75c redemption).
– For the 1.75c/p return, you have to spend $50k on the Signature card. It gives you 1x on everything, so you’d loose 0.33% against a Citi Double, or 0.48% against the CashWise + Signature 1.5c redemption, that is $244.02 or $358.85. You have to spend $50k+ on travel to make it a better deal.

“with 4.5% cashback you’d pay $95.5 for $100 of travel, with 3x points and 1.5c/points you’d pay $100 for $104.5 of travel – or $95.69 for $100.”

You’re subtracting the cash back from the purchase price but adding the points to the redemption. Apples to apples comparison would require sticking to one of the two methods. It is equally true that with 4.5% cash back, you’d pay $100 for $104.5 of travel. We are assuming here that the cash back will only be used for travel. Of course, all else being equal cash back is more valuable because it can be used for anything.

their visa signature card only gets the 1.5x multiple on airlines correct? not hotels?

I wouldn’t use for hotels anyway: Almost all chains get better benefits booking directly, with better “member” rates than the “public” rates (approximately what OTAs get), and if you are booking a non-chain hotel, you’d better be using Hotels.com for the ~10% return through their rewards.

For flights, most OTA prices are within error margin compared to booking directly.

In my experience there is plenty of selection where Chase Ultimate rewards matches hotel prices when booking directly. If this card would get the 1.5x multiple and you are able to transfer points at 3x thats basically mimicking the CSR without having to pay an annual fee.

Sign up for one card and you might get another without even knowing it! 😉

Lol, good one

Closed a Propel over a year ago ($175 AF). Are WF cards churnable? Not as good as the older one but $300 is still nice.

I got the Propel by phoning about 2 weeks ago. It came with a signup bonus of 40000 after 3000 spend in 3m. Also has $100 in air incidentals per anniversary. AF waived 1st year.

Needed a checking relationship.

that sounds like the propel world, not regular propel

Which bureau does WF pull? Can you MS the 3000?

I applied and was approved for the Cashwise Visa yesterday. They pulled Experian. I live in Kansas. Not sure if the bureau pulled varies by state.

“Wells Fargo typically only accepts card applications who have some relationship with the bank. However, with this card they’ll be offering the card to everyone.”

I wonder if they will modify their underwriting at all and NOT decline apps to people who are over 5/24 as has been happening to people applying for Wells Fargo cards according to a number of data points I have read.

Also, the previous Propel version also supported chip+PIN as secondary (Barclays style), giving you an easy no-fee way to get a chip+PIN Amex as a backup and no-DCC alternative to Visa/MC. I am assuming this card will continue to get that feature.

Is this a good card to have if you don’t have the Chase Reserve? I like that it gives 3% on cash back but also the BoA Cash Rewards does the same as well. I like that it gives 3% in general.

I don’t see why this isn’t competitive with the CSR. If you get this and the WF Visa Signature, you pay no annual fees and each point is worth $0.015 towards airfares. The Visa Signature has 5x rewards points earned for up to $12,500 spent on gas, grocery, and drugstore purchases for the first 6 months, so that’s effectively a bonus of 62.5K, but since it’s not really a bonus, you can probably get that and the 30K bonus for the Propel. That’s $1387.50 towards airfares.

In the long run, the CSR has value mainly because of the 5X categories on Ink Cash, the 5X rotating categories on Freedom, and the 1.5X on Freedom Unlimited. But there’s that $450 AF (minus the $300 travel credit).

I think it is competitive, but for me the CSR wins due to the transferable currency when I am not meeting a minimum spend. Also, Wells Fargo is a garbage company. I know, they would be losing money if I played it right, etc, but I just don’t like them. If it was transferable to even a few decent airlines, I would probably go for it.

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