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Wells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up Bonus

Wells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up Bonus

Million Mile SecretsWells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up BonusMillion Mile Secrets Team

Update:   This offer is no longer available.  Check our Hot Deals for the latest offers. 

The Chase Ink cards and the Barclaycard Lufthansa cards have increased their regular sign-up bonus.

But it’s not often a good new offer comes from a bank that doesn’t usually issue miles-and-points credit cards! Folks get excited, especially those who already have a lot of cards from the big banks.

There are 2 brand new points cards from Wells Fargo that can be used for cash back, travel redemptions, merchandise, and gift cards.  And the sign-up bonus on one of them is 40,000 points, which are worth at least $500+!

Wells Fargo Propel World American Express Card – 40,000 Point Sign-Up Bonus

Link:   Wells Fargo Propel World AMEX

Link:   Wells Fargo Rewards

Note:  Emily and I do NOT receive a commission on the Wells Fargo Propel cards.  But they are great cards worth considering!

The Wells Fargo Propel World AMEX gets you:

  • 40,000 points after spending $3,000 in the 1st 3 months
  • 3 points per $1 you spend on purchases directly from airlines (online travel agencies don’t count)
  • 2 points per $1 you spend on purchases directly from hotels (online travel agencies don’t count)
  • 1 point per $1 you spend on everything else
  • $100 statement credit for airline incidentals (like baggage fees, lounges, onboard food & drink)
  • No foreign currency fees
  • Chip technology (very useful for overseas travel)
  • Travel perks including a luxury hotel program, concierge, and vacation, cruise, and car rental discounts
  • Annual fee of $175, waived for the 1st year
  • Terms and conditions apply

On Flyertalk, there are reports of being able to redeem points for more than 1 cent per point.  If that’s the case, the sign-up bonus on the Propel World card (40,000 points) could be worth over $600 in travel, which is a very good deal!  However, you have to pay a $24 booking fee for redeeming points for travel.

But you can count on it being worth at least $400 statement credits!  You can use these statement credits anyway you like (flights, car rentals etc.), so this is a great deal.

Plus, the card offers similar purchase protections (extended warranty, etc.), emergency assistance, travel and car rental insurance as other AMEX cards.

And, per the terms and conditions, points never expire as long as you have the card open, and you’ll get a 10% annual points bonus if you have a bank account with Wells Fargo (more if you have an investment account).

I really like the 3X points on airlines and the 2X points on hotels.  The website didn’t specify whether the chip technology was chip-and-signature or chip-and-PIN, so I called Wells Fargo to confirm…and they said it is a Chip-and-PIN!  But folks are often confused about the difference between Chip-and-PIN and Chip-and-Signature, so I’d wait until we have reports from folks who actually have the card!

So this could be a very good card to use overseas if it has the more useful Chip-and-Pin version.

I also like that the $175 annual fee (waived for the 1st year) can be offset by the $100 airline incidental statement credit.  So this is really a $75 annual fee card ($175 annual fee – $100 statement credit = $75) after the 1st year.

It’s possible that buying airline gift cards could count towards the $100 airline incidental statement credit (like it has been in my experience with the American Express Platinum card), but I haven’t confirmed that yet!

I see a lot of similarities to the Barclaycard Arrival Plus® World Elite Mastercard®.  While the cards don’t earn 2X points on everything (like the Barclaycard Arrival Plus® World Elite Mastercard®), they do have some good bonus spending categories, annual points bonuses, plus extra perks like travel discounts.

But you don’t have to pick either the Barclaycard Arrival Plus™ World Elite MasterCard® or the Wells Fargo Propel World card, but can get both because they are from different banks.

Wells Fargo Propel 365 American Express Card – 20,000 Point Sign-Up Bonus

Link:   Wells Fargo Propel 365 AMEX

Link:   Wells Fargo Rewards

Wells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up Bonus
The Wells Fargo Propel 365 Has Half The Sign-Up Bonus Than the Wells Fargo Propel World Card

The Wells Fargo Propel 365 AMEX gets you:

  • 20,000 points after spending $3,000 in the 1st 3 months
  • 3 points per $1 you spend at US gas stations
  • 2 points per $1 you spend at US restaurants
  • 1 point per $1 you spend on everything else
  • No foreign currency fees
  • Travel perks including a luxury hotel program, concierge, and vacation, cruise, and car rental discounts
  • Annual fee of $45, waived for the 1st year

The sign-up bonus is half that of the Propel World card above and you don’t get the $100 for incidental expenses.  So I’d pick the Propel World card if I had to pick one card!

The purchase protections, insurance, and 10% (or more) annual points bonus are the same as the Wells Fargo Propel card.  But 1 big difference is the lack of a chip on this card!  My first thought was that they are marketing the card more towards folks who stay in the US rather than travel overseas.  But the card doesn’t have foreign transaction fees either!

With both cards, there are no limits to the number of points you can earn (either in bonus categories or regular purchases) in a year.  That’s very good!

Redeeming Points for Travel and More

The Wells Fargo Propel World AMEX and Wells Fargo Propel 365 AMEX cards earn points which are worth 1 cent each towards travel, cash back, merchandise, digital rewards (music, eBooks, etc.), or gift cards.  You redeem points by signing-in to the Wells Fargo Rewards site, which seems similar to Chase Ultimate Rewards.

Wells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up Bonus
Redeem Wells Fargo Rewards Points for Merchandise, Cash Back, Gift Cards, Travel, or Digital Rewards Like Music and eBooks

For example, if you want cash back, you’d redeem a minimum of 2,500 Wells Fargo points to get $25.

Wells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up Bonus
Redeem Points for Cash Back in $25, $50, $100 or $250 Increments

I don’t have a Wells Fargo account so I couldn’t log in to look around the travel portal.  However, I did find something interesting.

Earn More Points Through the Wells Fargo Shopping Portal

Link:   Wells Fargo Rewards Shopping Portal

Wells Fargo has a shopping portal where you can earn more points!

Wells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up Bonus
Uh-oh…Another Excuse to Do More Online Shopping!

I checked some of the stores and payouts on the website.  The list of retailers is pretty extensive, and some of the bonus points offers are quite good!

If Emily and I get 1 of these cards, I’ll do more digging into the rewards site and see how to best stack the bonuses and discounts.  Stay tuned…

Drawbacks and Limitations

This card is so new that there’s not much information available online, other than what’s published on the Wells Fargo website.

That said, some folks on the MyFico forum have reported being denied for the card because they don’t have a relationship (bank accounts, etc.) with Wells Fargo.  But that doesn’t mean you shouldn’t apply.  Nowhere in the terms and conditions does it say you have to be an existing Wells Fargo customer.

Wells Fargo Propel Cards With 40,000 Point (~$500+) Sign-Up Bonus
Where Would You Go With ~$400 (or More!) in Travel?

I’m not sure if the 10% annual points bonus will be calculated on points earned from spending only.  If it’s calculated on the sign-up bonus, then the 40,000 points could be worth at least ~$400 in travel, much like the Barclaycard Arrival Plus® World Elite Mastercard®.

Please leave me a comment if you get the card and share your experience!

Bottom Line

Wells Fargo has introduced 2 brand new points cards that offer substantial sign-up bonuses which are worth ~$500 or more, and have 2X and 3X spending categories, no foreign transaction fees, and many other perks.

These Wells Fargo cards could be good for folks who’ve already maxed out the number of cards they can get from Chase, Citi, Barclays, or other big banks.

Will you apply for these cards?  Let me know about your experience in the comments!

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Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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I had a similar situation as Kevin in which I didn't get my bonus points until a looooong time after I did the minimum spend. I received my card in October, did my minimum spend in October, didn't get my points, didn't get my points... call in early December asking how long until it posts, was told my 90 day period in which to spend $3,000 wasn't up until the end of December, so they need to give people that amount of time to make the minimum spend, so my points would come after Dec. 31. Explained I already met the minimum spend in Oct, which she verified, but stated I wouldn't get them until after Dec. 31.

Dec. 31 goes by, so does Jan. 31, and now I'm into Feb. I make the call again... (Feb 8) I get the "hmmm, let me see" and "I don't know why, let me put you on hold" and she THOUGHT she put me on hold, but I wasn't and I could hear her talking to her manager. The manager said, "I don't know why it says Pending, I've never seen that before" then the customer service person realizes I'm not on hold and actually puts me on hold. After that she comes back on and says it will post on Feb. 18 and she's not sure why anyone would have told me Dec. 31. So, I checked this morning and it was finally there. Had I not called, would it still be "Pending"? My guess is yes and I would be waiting even longer. It is a long time to wait for the benefit of the card.

I am a current Wells checking, savings and Visa customer. I started in 2012 with a secured Visa, graduated in 2013 to unsecured. Income has improved recently to over $100K and FICO is now an average of 706 all three. What are people finding as an average approval credit score? I also have direct deposit, so they can see all my deposits. Visa card recently down to 4% utilization. All other cards under 8% utilization. Will I be approved for a 365 Propel?

Not impressed with this card. I spent the required $3000 within the first billing cycle. I was not awarded the sign-up bonus points until the full 90 day period after approval had run it's course.

Then my account said I needed to wait another 30 days until the points were available.

120 day wait for my sign-up bonus? I don't think so. This card will soon be history...

I just wanted to share that as of October 2nd, 2015 the Wells Fargo Propel World credit card will allow you to purchase $100 of American Airlines E-giftcards and get them reimbursed as if they were incidental purchases. I got my $100 back as soon as the transaction went from pending to posted.

Wells Fargo Propel 365 American Express® Card

- 20,000 points (~$400) after spending $3,000 within 3 months

Just wondering how can we turn 20K points into $400 cash back. Is there a way or that was just a typo in the hot deals table?

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