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The annual fee for most travel reward cards may be worth it – for a while. Entry point bonuses worth $ 300 or $ 400 may mean that annual fees of, say, $ 95 represent a good investment for the first year or two.
But as time passes and the points you earn do not include a big initial bonus, the balance sheet can start to swing. Unless you spend enough on the card to accumulate many points regularly, an annual membership fee can erode or even erase the value of your rewards.
If you are concerned about this concern every time you consider signing up for a travel reward card, the Wells Fargo Propel American Express® Card could be a solution. Its annual $ 0 fee and impressive welcome offer helped make this card the best Wells Fargo travel reward card by NerdWallet.
Here is a checklist to decide if this card is right for you.
Can you spend enough to win the welcome offer?
Here is the current welcome offer on the Wells Fargo Propel American Express® Card: Earn 30,000 bonus points when you spend $ 3,000 on purchases in the first 3 months – a cash value of $ 300.
If earning this fits perfectly with your expenses, the next thing you will want to think about is whether the options for exchanging your rewards make sense.
Do you want flexible exchanges for travel, but also for other things?
These points can not be exchanged for an airline or a particular hotel. It's more like Wells Fargo's Go Far awards, which you can trade on the bank portal for 1 cent each. And although these points can not be converted or transferred to other miles or points with a loyalty program or a hotel loyalty program, they are otherwise extremely flexible.
On the Go Far Rewards portal, you can redeem your points for flights, hotels, rental cars, cruises, packages or experiences. You can also use points to apply credits in increments of $ 25 directly to your card balance or to withdraw money in increments of $ 20 from a Wells Fargo ATM. You can even use points to pay off your mortgage or personal loan; pay for gift cards, merchandise or digital downloads; or make charitable donations.
Do you spend in a wide range of categories?
Many cards multiply the rewards you earn in a few categories, such as travel and meals. With the Wells Fargo Propel American Express® Card, you'll earn 3 points per dollar spent in a wide range of categories: travel, restaurants, public transit, food deliveries, gas stations, walks, homestays and some streaming services. In all other categories, you will earn 1 point per dollar.
" Learn more: Complete review of the Wells Fargo Propel map
Do you plan to travel outside the country?
The Wells Fargo Propel American Express® Card does not include any overseas transaction fees, which is essential if you use your card abroad. Cards without this feature often add about 3% to every purchase you make abroad, which can add up quickly.
Do you shop at these retailers?
Wells Fargo's Earn More Mall resembles other online shopping portals hosted by rewards programs. You can log in and choose any of the participating retailers including Apple, Macy's and Home Depot. Then, if you make a purchase with your card, you'll earn bonus points added to your Go Far Rewards points balance.
With the Wells Fargo Propel American Express® Card, you can also earn bonus points by buying in person at select retailers. To take advantage of this feature, log in to the Wells Fargo Earn More Shopping Center and browse through the site's offers. You will see participating retailers where you can earn extra points if you use your card in store. But check the details: in some cases you have to activate the offer by first clicking on it.
How to maximize your rewards
You want a travel credit card that prioritizes what is important to you. Here are our choices for the best travel credit cards of 2019, including those best suited to:
Plan a trip? Check out these articles for more inspiration and tips:
Find the best travel credit card for you
Hang these benefits on hotel loyalty, even if you're disloyal
Earn more points and miles with these 6 strategies
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