topic Wells Fargo American Express Propel - Worth it? in Credit Card Applications

Wells Fargo American Express Propel - Worth it?

Anonymous — Mon, 28 Dec 2020 08:35:52 GMT

I received one of their mailers inviting me to sign up for the WF Amex Propell. There seems to be mixed reviews on if its worth it or not. Mailer offer expires Jan 9, 2021.

I have existing history with WF in a form of bank account (checking+savings). Account age is 9 years, 4 months. Account has never fallen below the $1500 limit for the checking account. Averages $10,000 stashed away for rainy day, rest of the funds moved out. Bi-monthly ACH deposits from employer of 10 years. Income of ~$150,000/yr. Only loan related relationship was a denial on autoloan in 2014. No mortgages (ever). Denied for credit card in 2016.

My immediate goal would be using it for the 3% cash back gas and bi-yearly travel expenses over the holidays. I have been looking for a dedicated fuel card with a decent credit limit that I can use for other purposes in the future. The guaranteed 3% back on fuel is better than the 1.5% I am getting on my QS card or 1%. The Amex Blue Rewards has been reserved for groceries for the 6% cash back, and I do not carry this card with me normally (thank god for Instacart).

I need some help deciding on this. On one hand, I feel having a relationship with the same bank will do me well for future plans on refinaced mortgages. On the other hand, I feel like having separation from incoming income and outgoing charges is a good thing. I just aquired the AMEX card 4 months ago, so I partially feel I should wait before applying. And with the mixed reviews on the card, I think I may want to look at other offers and wrap them up in the next 3 months, then let them age.

Re: Wells Fargo American Express Propell - Worth it?

Loquat — Fri, 25 Dec 2020 13:13:10 GMT

I have the Propel. It’s a solid card, no AF, the More Rewards mall offers the ability to get additional value and it has access to some Amex Offers.

Not a bad card to have in my opinion.

Re: Wells Fargo American Express Propell - Worth it?

AverageJoesCredit — Fri, 25 Dec 2020 13:56:15 GMT

Sometimes overthinking a credit card is a real thing. Its a good cc, especially seeing as you make really good money to actually use its reward cats. Lender diversity is also a good practice. Being that they see what you have coming in you have a really good chance at a nice sl. I havent seen many negative reviews but based off my own small experience and from what i read here, most have had no issues.

Re: Wells Fargo American Express Propell - Worth it?

Anonymous — Fri, 25 Dec 2020 15:44:32 GMT

I over think everything in life, sometimes when it's not necessary. You do make valid points. The lender diversity was something I want to work on, not putting all my eggs in one basket. I guess seeing the incoming money is a good thing. I'm too used to thinking about layers of separation, it's a habit now.

Fingers crossed on a decent sl. Before Citi and American Express, I had terrible limits. Funny story, when I requested a cli from Chase and I told her my income this year, she actually choked up on the phone and had to apologize. Then said they can move me from $2500 to $5000 .

Re: Wells Fargo American Express Propell - Worth it?

Anonymous — Fri, 25 Dec 2020 15:45:40 GMT

The no annual fee part and 3% cash back is whats really drawing me to them.

Re: Wells Fargo American Express Propell - Worth it?

FinStar — Fri, 25 Dec 2020 16:02:36 GMT

@Loquat wrote:
I have the Propel. It’s a solid card, no AF, the More Rewards mall offers the ability to get additional value and it has access to some Amex Offers.

Not a bad card to have in my opinion.

@Anonymous I echo the above and I've been very pleased with mine. When a recent fraudulent charge occurred, they handled everything pretty smoothly and replacement was received relatively quick.

Re: Wells Fargo American Express Propell - Worth it?

Anonymous — Fri, 25 Dec 2020 16:22:05 GMT

Thats a really good consideration that i've never thought about. I've been lucky to have next to no fraud issues with any cards. But my employer replaces their cards every couple months due to fraud, and I do remember some of the banks being a hassle on showing it's fraud and issuing new cards.

That's one more review point to look at going forward.

Re: Wells Fargo American Express Propell - Worth it?

Loquat — Fri, 25 Dec 2020 17:41:11 GMT

@Anonymous wrote:
Thats a really good consideration that i've never thought about. I've been lucky to have next to no fraud issues with any cards. But my employer replaces their cards every couple months due to fraud, and I do remember some of the banks being a hassle on showing it's fraud and issuing new cards.

That's one more review point to look at going forward.

Best of luck to you if you decide to move forward with getting this card.

Re: Wells Fargo American Express Propell - Worth it?

ChargedUp — Fri, 25 Dec 2020 20:17:01 GMT

If a card to use for gas is your primary mission, there are quite a few that give 3, 4, or even 5% back, have no AF and give other benefits. If the Propel fits what you're looking for, it does just what is advertised and I don't believe I've seen anyone down talking the card or how WF handles their cardholders.

Just know there's a lot of options out there for pump swipes 🙂

Re: Wells Fargo American Express Propell - Worth it?

mgood — Mon, 28 Dec 2020 01:50:43 GMT

I want one.
I've had checking and savings accounts at Wells Fargo since about 2003, mostly because they were the only real bank in the small town where I was living at the time, and I just never found the motivation to move to a different bank after that. My credit scores are slightly lower than yours, and my income is considerably lower than yours. But I plan on applying for this card soon.

Re: Wells Fargo American Express Propell - Worth it?

FalconSteve — Mon, 28 Dec 2020 02:28:01 GMT

It's a decent card. For a travel focused cashback card, it has pretty inclusive categories (gas, ridesharing, commuting, fast food, toll bridges, select streaming, etc). It also includesphone insurance ($500 with $25 deductuble).

I don't drive or eat out a lot, so mine doesn't get a ton of use, but I would still recommend it to most people.

It's also a steel card, so it makes a cool sound when you plunk it down (I know, not important, but a fun bonus).

Re: Wells Fargo American Express Propel - Worth it?

JR_TX — Mon, 28 Dec 2020 17:34:32 GMT

I say go for it as it's definitely worth it!

Don't think I've ever heard/read of anything Negative about the card specifically other than WF, the Bank itself.

Re: Wells Fargo American Express Propel - Worth it?

ccquest — Wed, 30 Dec 2020 14:15:27 GMT

No issues with mine either, but I primarily use it for gas and use the Alt Go for food. With that said, I am considering the WF Visa Signature for some point in the future so I can get an effective 4.5% on travel if I transfer points that way.

Agree that it is also a nice feeling and looking card as was already mentioned.

Re: Wells Fargo American Express Propel - Worth it?

Jordan23ww — Wed, 30 Dec 2020 16:37:36 GMT

I've had the Propel card for just over a year now and I've found it to be great. I use it mostly for gas and dining out. Also used to use it for streaming before getting the Amex Blue Cash Preferred. I plan to use it for Travel once traveling becomes safe again. Also I have the Visa Signature card which gives an extra 1.5% boost (4.5 total) to your points when you transfer them and use them on travel. Overall this card has been great and I love that it has no annual fee!

I've had a banking relationship with Wells Fargo ever since they merged with Wachovia. Before that I had a banking relationship with First Union since 1994 who was bought by Wachovia years later. I think a banking relationship with Wells Fargo makes it easier to be approved for the Propel card.