Wells Fargo Credit Cards with Portfolio account

[Anonymous]

I noticed Wells Fargo has credit card relationship deals if you have Portfolio checking account with the bank.

They claim to give a rewards bonus on the Propel card and added enhanced benefits on a visa card but it doesn’t indicate what the enhanced benefits are or which visa card qualifies.  It only mentions Visa Platinum.  There are also credit cards issued by Wells Fargo advisors where one requires 1 million or more.  Another one has no fees but it doesnt mention anything about these with the Portfolio account even though the Portfolio account gives discounted trading benedits for managed or self directed investments.  

[Soelden]

So it does look like there are bonuses for the Propel if you have an account with them.  From propels terms:

If You have a Wells Fargo consumer checking or savings account (not including CDs or Health Savings Accounts), You can earn a bonus of 10%, 25%, or 50% on Points You earn on Net Purchases made on Your Credit Card account (each a "Relationship Bonus"). These Relationship Bonus Points are in addition to any other Points You earn from using Your Credit Card. We determine Your Relationship Bonus percentage based on the type of checking or savings account You own. If You own more than one qualifying account, You will earn the highest percentage You qualify for at the time Your Relationship Bonus is calculated. You cannot earn more than one Relationship Bonus at a time. To earn Relationship Bonus Points, You are only required to own one of the following types of accounts:

•    If You own a Wells Fargo consumer checking or savings account (not including time accounts (CDs) or health savings accounts), You will earn a 10% Relationship Bonus. 
•    If You own a primary checking account in a Portfolio by Wells Fargo® program, You will earn a 25% Relationship Bonus. If the statement-ending qualifying relationship balance in the Portfolio by Wells Fargo program is $250,000 or more, You will instead earn a 50% Relationship Bonus.
•    If You are a member of Wells Fargo Private Bank, You will earn a 50% Relationship Bonus.

We calculate Your Relationship Bonus each month based on whether You own a qualifying account at the end of the previous month. We make these calculations when the Credit Card transactions are posted on Your account.

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The Platinum visa gets these perks if you have a portfolio account.

Extended Warranty Protection, Price Protection, and Travel Protection Coverage included with the Wells Fargo Visa® Platinum credit card will be terminated if the credit card is no longer linked to the Portfolio by Wells Fargo program.

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A Portfolio account requires $25k daily balances across accounts or $30 a month service fee.

[UncleB]

I think the terms of the Propel were changed last summer during the revamp to do away with the Relationship bonus, with the current point scheme (3x travel, etc.) replacing it.

Here are the current terms for the Propel:  https://www.wellsfargo.com/credit-cards/propel/terms/

[Anonymous]

I'm a Portfolio client and hold both the Propel and Cash Wise Visa Signature.... No relationship bonus.

[Anonymous]

It looks like the website still lists the Old Propel with 175 annual fee as eligible.  Even if this card was still available, would not be interested.

Thanks for the clarification.  Doesn’t look like the Portfolio account is as competitive as I thought.  Only advantage seems to be a dedicated banking team as even with discounted trades and 2.15% savings, you can get better deals elsewhere.

[Andypanda]

 I realize this thread is about 5 months old, but I believe that the propel amex is eligafor the relationship bonus. I look up the t&c and found this

WellsFargoPropelWorldAmericanExpress®Card
If you ow n a qualifying Wells Fargo consumer checking or savings account, or a Portfolio by Wells Fargo program (each a “qualifying deposit account”), you will earn a relationship bonus of 10%, 25%, or 50% on rew ards points earned on net purchases (purchases minus returns/credits) made on your credit card account. You cannot earn a relationship bonus on points that are earned as either bonus points o r a s p r o mo t i o n a l p o i n t s . Y o u r r e l a t i o n s h i p b o n u s p e r c e n t a g e w i l l b e d e t e r mi n e d b a s e d o n t h e t y p e o f q u a l i f y i n g d e p o s i t a c c o u n t y o u o w n . If y o u o w n a n e l i g i b l e c h e c k i n g o r s a v i n g s a c c o u n t , y o u w i l l e a r n a 10% relationship bonus. If you ow n the primary checking account in a Portfolio by Wells Fargo program, you w ill earn either a 25% or 50% relationship bonus, depending on the statement ending qualifying relationshipbalancesinandtypeofPortfolioby Wells Fargoprogramyouown.Ifyouownmorethanonequalifyingdepositaccount,youwillearnthemostfavorablebonusrewardspointspercentageyou qualifyforatthetime yourrelationshipbonusis calculated.Therelationshipbonus,whichwillbeintheformofrewardspoints,willposttoyouraccountinthe13thmonthafteryourcreditcardaccountwas opened and annually on this date thereafter for the period during w hich you maintain your qualifying deposit account. Please see the Wells Fargo Rew ards® ProgramTerms and Conditions for the Wells Fargo Propel World American Express® Card for details. Certain restrictions, limitations, and fees may apply. Extended Warranty Protection, Price Protection, and Travel Protection Coverage included w ith Wells Fargo Visa Platinum credit cards w ill be terminated if the credit card is no longer linked to the Portfolio by Wells Fargo program. See the Wells Fargo Visa Credit Card Purchase and Trip Protection Benefits Guide for more details.

[Anonymous]

Propel and Propel World are 2 different cards.  Propel has $0 AF and PW has an AF.  Might be why the T&C are different.

WellsFargoPropelWorldAmericanExpress

[FinStar]

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@Andypanda wrote:

 I realize this thread is about 5 months old, but I believe that the propel amex is eligafor the relationship bonus. I look up the t&c and found this

WellsFargoPropelWorldAmericanExpress®Card
If you ow n a qualifying Wells Fargo consumer checking or savings account, or a Portfolio by Wells Fargo program (each a “qualifying deposit account”), you will earn a relationship bonus of 10%, 25%, or 50% on rew ards points earned on net purchases (purchases minus returns/credits) made on your credit card account. You cannot earn a relationship bonus on points that are earned as either bonus points o r a s p r o mo t i o n a l p o i n t s . Y o u r r e l a t i o n s h i p b o n u s p e r c e n t a g e w i l l b e d e t e r mi n e d b a s e d o n t h e t y p e o f q u a l i f y i n g d e p o s i t a c c o u n t y o u o w n . If y o u o w n a n e l i g i b l e c h e c k i n g o r s a v i n g s a c c o u n t , y o u w i l l e a r n a 10% relationship bonus. If you ow n the primary checking account in a Portfolio by Wells Fargo program, you w ill earn either a 25% or 50% relationship bonus, depending on the statement ending qualifying relationshipbalancesinandtypeofPortfolioby Wells Fargoprogramyouown.Ifyouownmorethanonequalifyingdepositaccount,youwillearnthemostfavorablebonusrewardspointspercentageyou qualifyforatthetime yourrelationshipbonusis calculated.Therelationshipbonus,whichwillbeintheformofrewardspoints,willposttoyouraccountinthe13thmonthafteryourcreditcardaccountwas opened and annually on this date thereafter for the period during w hich you maintain your qualifying deposit account. Please see the Wells Fargo Rew ards® ProgramTerms and Conditions for the Wells Fargo Propel World American Express® Card for details. Certain restrictions, limitations, and fees may apply. Extended Warranty Protection, Price Protection, and Travel Protection Coverage included w ith Wells Fargo Visa Platinum credit cards w ill be terminated if the credit card is no longer linked to the Portfolio by Wells Fargo program. See the Wells Fargo Visa Credit Card Purchase and Trip Protection Benefits Guide for more details.

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@Andypanda, as mentioned upthread, the quoted information applies to the Propel World which is no longer available for new applicants.  I still have mine (from 2015) which qualifies for the relationship bonus.

[CreditCuriosity]

@FinStar  could of sworn you still could get some bankers to do it in branch?  Thought I read that on some forum?

[FinStar]

Honestly, from what I've read @CreditCuriosity, since the introduction of the current Propel product they've phased out the option for Propel World. But, then again I'm not sure whether the WF bankers even have the option these days or if they can process those applications on the back-end as an exception.

This would be a good DP to see if anyone can PC their current Propel products (legacy or current) to Propel World, but it's highly doubtful most folks would want to fork out the AF and come out ahead on rewards redemptions.