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Wells Fargo Propel Experiences?

CardNut
Valued Contributor

Re: Wells Fargo Propel Experiences?


@galahad15 wrote:

I've had the Propel card since about late 2018, and tbh, the overall experience for me has been a little underwhelming.  Sure, it's got the 3% cashback categories which is definitely a major plus, but then again, you can also get other cards these days with 3% rewards categories, such as the BoA Cash Rewards card.  IME, my FNBO Travelite Amex card also offers 3% cashback rewards on travel purchases. 

 

I guess my biggest gripe with the Propel card is because even though when I apped for it, my FICO8 scores across all 3 CRAs were right in the 800+ range, they still approved me with a what I felt was a sub-standard and excessively high, currently ~17% V go-to interest rate, rather than offering the lowest-available rate Smiley Indifferent  For that reason alone, I prefer my BoA Cash Rewards card, which has a much lower and more competitive go-to rate, and also (unlike the Propel) no longer has the $25 minimum redemption threshold after BoA revamped the card a while back.


Do you have other cards more suited (lower interest rate) for carrying balances? A rewards card is a terrible card to carry a balance on.

 

The $25 limitation on redemptions can be somewhat cancelled out by paying for purchases with points. 

Scores, HPs/24 mos. (updated 01/13/21):
    Experian FICO Score 8 = 828, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 811, 1/24
    Equifax = 813, 0/24

Total 2020 rewards, incl. offers/deals = $1,388.00

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 21 of 41
RobertJ
Established Contributor

Re: Wells Fargo Propel Experiences?

My WF Propel has become my number 1 card, and I use it for all dining and gas purchases.  My Chase Bonvoy is a close second.  I didn't intend to use the Propel that much, but using the rewards is super easy and seem to be a bargain to boot.  No AF makes is a no brainer.  



Message 22 of 41
bz386
Frequent Contributor

Re: Wells Fargo Propel Experiences?

I keep reading about the ability to pay for purchases with points. I don’t see this option anywhere, neither on the credit card itself or the Go Far Rewards site. Where is it?
Message 23 of 41
CardNut
Valued Contributor

Re: Wells Fargo Propel Experiences?


@bz386 wrote:
I keep reading about the ability to pay for purchases with points. I don’t see this option anywhere, neither on the credit card itself or the Go Far Rewards site. Where is it?

Above the transactions on the card, above temporary authorizations,  there is a link Redeem for Purchases.

Scores, HPs/24 mos. (updated 01/13/21):
    Experian FICO Score 8 = 828, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 811, 1/24
    Equifax = 813, 0/24

Total 2020 rewards, incl. offers/deals = $1,388.00

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 24 of 41
UncleB
Moderator

Re: Wells Fargo Propel Experiences?


@bz386 wrote:
I keep reading about the ability to pay for purchases with points. I don’t see this option anywhere, neither on the credit card itself or the Go Far Rewards site. Where is it?

It's on the card itself:

 

PropelPoints.png

Message 25 of 41
bz386
Frequent Contributor

Re: Wells Fargo Propel Experiences?

Thanks, found it. They hide it really well... it only exists on the web site and not on the mobile app.

Message 26 of 41
CardNut
Valued Contributor

Re: Wells Fargo Propel Experiences?


@bz386 wrote:

Thanks, found it. They hide it really well... it only exists on the web site and not on the mobile app.


It's on the top part of the mobile app.  Make Payment,  View Statements... it's under More.

Scores, HPs/24 mos. (updated 01/13/21):
    Experian FICO Score 8 = 828, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 811, 1/24
    Equifax = 813, 0/24

Total 2020 rewards, incl. offers/deals = $1,388.00

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 27 of 41
galahad15
Valued Contributor

Re: Wells Fargo Propel Experiences?


@CardNut wrote:

Do you have other cards more suited (lower interest rate) for carrying balances? A rewards card is a terrible card to carry a balance on.

 

The $25 limitation on redemptions can be somewhat cancelled out by paying for purchases with points. 


Thanks for the heads-up on being able to cancel out the $25 redemption limitation requirements by paying for purchases with points, that is indeed quite helpful!  Smiley Happy

 

Regarding the question about having cards with lower interest rates that may be better-suited for carrying balances, I currently have 8 credit cards in my collection with go-to interest rates below 10%, so in pretty good shape at present in that regard (IME, 5 of the 8 cards below 10% are also rewards cards).


Message 28 of 41
Nomad3
Frequent Contributor

Re: Wells Fargo Propel Experiences?

Just noticed something about merchant coding on my posted transactions.. So.. These transactions are from the same gas station (not walmart/etc)

$70 inside sale (tobacco) was category groceries
$40 outside sale was gasoline(accurate)
$1.71 inside sale (bubble gum) was gasoline(...?)

Disclosures say that this is how the merchant codes for Amex, but wth? I can understand tobacco counting as groceries, but how is bubblegum gas? Has anyone else experienced this lol

The same location only codes as gas on both my Visa/MC regardless of in/out/etc



Goal: Mortgage/Chase Trifecta






Message 29 of 41
LooksAreDeceiving
Contributor

Re: Wells Fargo Propel Experiences?

I apped for the Propel in March, after being rejected for Chase Freedom on the same day (rejection letter stated "no current relationship," or something to that effect).  I didn't have a FICO at the time, but was approved with a 3k SL due to having a "relationship" with Wells Fargo (which was mentioned in my acceptance).

 

It was my first card after rebuild, so I was just thankful for an unsecured approval.  That being said, I like the 3% on dining/travel, and the two SUBs ($500 total) were nice.

 

Just yesterday, they auto CLI'd me to 4300, so I have no complaints with WF.

Wells Fargo Propel: 4300 (3-19)
Discover it: 5500 (9-19)
American Express Cash Magnet: 10,000 (12-19)
Chase Freedom Unlimited: 8500 (4-20)
Citibank Double Cash: 8300 (7-20)
FICO 8 EX 765 (7-4-21) EQ 790 (5-11-21) TU 746 (5-11-21)
INQ EX 0/12, 5/24 EQ 0/12, 2/24 TU 0
Message 30 of 41
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