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Wells Fargo announced on Monday (June 25th) a redesign of its Propel card, its no annual fee rewards cards.
In a press release, Wells Fargo said the rewards card has an annual fee of $ 0 and gives cardholders three times more rewards for meals and orders, travel and streaming services. In addition, customers do not pay fees for currency conversions and access to exclusive pre-sale tickets, offers, and other American Express (Amex) protections.
The credit card also has no limit on points that customers can earn and no point expires as long as the credit card is open. New Propel card customers earn 30,000 bonus points, which equals a cash surrender value of $ 300 after spending $ 3,000 in the first three months. The card will accept applications in July, said Wells Fargo.
Bev Anderson, Head of Wells Fargo Cards and Retail Services, said in his press release: "We are listening to consumers to better understand and respond to their needs in a holistic way, and have spoken directly to them about this. that they want the most. Based on these comments, we are excited to offer one of the richest credit cards in the industry, with no annual fee. With triple points on most of what consumers do everyday, the new Propel card complements their lifestyles – that they are either going to work or planning a summer vacation, that they are downloading a favorite television series to watch dumplings or that they are having dinner with friends. Wells Fargo is committed to meeting the needs of its customers by delivering strong, experiential value with the new Propel Card, our best rewards card, for consumers who live their lives to the fullest and want a credit card that rewards them.
Wells Fargo said the Propel card will be accepted at merchants who accept American Express. With Amex, Propel cardholders will also have access to millions of pre-sale tickets for concerts, sporting events, Broadway shows and daily discounts on travel, restaurants and retailers around the world. Current holders of Wells Fargo American Express Propel cards are automatically converted to receive the new benefits of Propel, the bank said in the press release.
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