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Wells Fargo has actually presented two brand-new benefits credit cards through a collaboration with American Express – one deals with travelers while the other targets everyday consumers. However, both cards face competition in today’s crowded market of benefits credit cards.
The Wells Fargo Propel World American Express Card enables cardmembers to earn 3 points per dollar spent on airlines, 2 points per dollar on hotels and 1 point per dollar on everything else. Other appealing card benefits include concierge service, a $100 yearly credit for airline incidental charges, complimentary upgrades and amenities at nearly 1,000 worldwide hotels and no foreign transaction charges.
The card has a $175 annual cost, but there’s presently an introductory offer that waives the fee for the first year.
The second card is the Wells Fargo Propel 365 American Express Card, which offers 3 points per dollar spent at U.S. filling station, 2 points per dollar at restaurants and 1 point per dollar on everything else.
The card has a $45 annual fee – presently waived for the very first year.
Both cards with administer extra points if a cardmember likewise has a banking relationship with Wells Fargo. Cardmembers can stand up to HALF annual perk on non-bonus benefits points if they also have a qualifying Wells Fargo examining or cost savings account, or PMA bundle. (Note: Points after the very first point earned in bonus offer classifications won’t get an annual perk. For instance, Propel World cardholders make 2 bonus offer points and 1 non-bonus point per dollar invested on airline companies.)
Card battles continue
The Propel World card’s biggest competitor may just be the Premier Benefits Gold Card from American Express. The Premier Rewards Gold Card provides 3 points per dollar on airline tickets booked with airlines, 2 points per dollar at U.S. gasoline station and grocery stores and 1 point per dollar on everything else. The card has a $175 yearly fee too.
The Premier Rewards Gold Card, nevertheless, does charge a 2.7 % foreign deal cost and it does not provide credit for airline incidental charges (the higher-tiered Platinum Card does). One notable advantage of the card is its involvement in the Membership Benefits program, which lets members transfer their points to other taking part frequent traveler programs.
Propel 365’s rivals include the American Express Blue Money Everyday card and the BankAmericard Money Benefits Visa Signature card, among others.
American Express Blue Money Everyday has no annual fee and offers 3 % money back at U.S. supermarkets (on the very first $6,000 invested in this category each year), 2 % at filling station and 1 % on everything else. BankAmericard Cash Rewards Visa Signature provides 3 % money back on gas, 2 % on groceries and 1 % on all other purchases.
Both of these rival cards don’t have annual fees, which is an edge up on the Propel 365. Nevertheless, the cards do have profits limitations while the Propel 365 card does not. In addition, the Propel 365 card has no foreign deal charges – a convenient function for international travel.