Wells Fargo to partner with American Express for new rewards card

The new Propel card will offer better benefits

By Lexi Suda - Producer-in-training
Spencer Platt/Getty Images

JACKSONVILLE, Fla. - The new Wells Fargo Propel Amex card is improving its bonus categories and offers users 30,000 sign-up bonus points after spending $3,000 in the first three months.

The card will have no annual fee.

It also earns three times the points on travel, dining, gas and streaming services. All other purchases will earn one point per dollar. 

Points can be redeemed for gift cards, travel purchases, charity donations or cash back. 

The card features cell phone protection, extended warranty coverage, coverage for lost or stolen items purchased with the card, travel accident insurance, return protection, lost baggage coverage and secondary car rental insurance in the US. 

Wells Fargo only allows customers to earn one sign-up bonus every 15 months across all of its credit cards, including the Propel. 

Wells Fargo was recently investigated for overcharging customers. Customers were given inconsistent pricing and added fees. 

The Federal Reserve would not allow the bank to grow its assets until the bank redeemed itself. Earlier this year the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency announced they would be fining Wells Fargo $1 billion for car insurance and mortgage abuses. 

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