Should I get Wells Fargo's new credit card?

Wells Fargo’s new credit card, the Wells Fargo Propel American Express Card, launched in June 2018. The card has a $0 annual fee, offers a 30,000-point sign-up bonus, and gives 3 points per $1 spent on travel, dining and gas. You should get the new Wells Fargo Propel Card if you have the good credit needed for approval and spend a lot in the card’s bonus rewards categories.

The Wells Fargo Propel American Express card has pretty broad appeal, with plenty of perks for both travel and everyday purchases. It also has an introductory APR of 0% for 12 months on purchases and 0% for 12 months on qualifying balance transfers on balance transfers. Another key benefit is $600 in cell phone protection, covering damage or theft if you pay your monthly phone bill with the card.

The release of the Propel Amex card came two years after Wells Fargo introduced their next most recent card, the Cash Wise Visa, in June 2016. Propel is also Wells Fargo’s signature card on the American Express network, a partnership that launched in 2013.

Here are details on Wells Fargo’s new credit card:

• Card name: Wells Fargo Propel American Express Card
• Credit required: Score of 700+ (Good credit)
• Initial bonus: 30,000 points for spending $3,000 in the first 3 months. Worth $300 in cash back, travel or gift cards
• Annual fee: $0
• Introductory APR: 0% for 12 months on purchases and 0% for 12 months on qualifying balance transfers on balance transfers made in the first 120 days
• Balance transfer fee: 3% transfer fee
  
• Rewards: 3 points per $1 spent on dining, airfare, gas purchases, hotels, car rentals and streaming services (Netflix, Apple Music, etc.). 1 per $1 on all other purchases
• Signature benefit: Cell phone protection of up to $600 against damage or theft (with $25 deductible). Must pay monthly phone bill with Propel to be eligible for the benefit
• Foreign transaction fee: $0.

Wells Fargo’s new credit card, the Propel American Express card, offers great value for both frequent and occasional travelers with triple points in several spending categories. However, Propel suffers from one issue that all American Express cards do. Despite having no foreign transaction fee, Propel isn’t as widely accepted as any Visa or Mastercard, especially outside of the U.S.