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Recently, Wells Fargo announced to cardholders of its Wells Fargo Propel American Express® card that it will be phasing out the card later this year. If you're an existing cardholder, then you can transition to the Wells Fargo Autograph℠ Card. While the forced switch may seem annoying, even a quick dive into both cards shows that the change may be slightly positive for you.
When Will Wells Fargo Transition the Propel to the Autograph?
Information on the exact details of the transition is limited. However, we do know that Wells Fargo Propel Amex cardholders were informed of the following timeline:
- Cardholders will be transitioned to the new Wells Fargo Autograph℠ Card from May 24, 2023.
- Existing Wells Fargo Propel Amex cards will be deactivated on August 4, 2023.
How Do the Cards Compare?
| Wells Fargo Propel American Express® card | Wells Fargo Autograph℠ Card | |
|---|---|---|
| Travel | • 3x on travel – including campgrounds, airfare, hotels, and VRBO homestay. • 3x on transit – including parking, tolls, subways, ride shares, railways, ferries, and more. | • 3x on travel – including airfare, hotels, car rentals, timeshares, cruises, and more. • 3x on transit – including parking, tolls, subways, ride shares, railways, ferries, and more. |
| Dining | 3x on dining – including delivery websites like GrubHub. | 3x on dining – including delivery websites like GrubHub |
| Streaming | 3x on streaming services – including Apple Music, Netflix, Spotify etc. | 3x on streaming services – including Apple Music, Netflix, Spotify etc. |
| Gas Stations | 3x at gas stations. | 3x on Gas – including gas stations, automated fuel dispensers, and electric vehicle charging stations. |
| Phone Service | 1x on all other purchases. | 3x on phone plans – including landline providers and cell phones. |
| Other purchases | 1x on all other purchases. | 1x on all other purchases. |
| Foreign transaction fees | No foreign transaction fees. | No foreign transaction fees. |
| Annual fee | $0 annual fee. | $0 annual fee. |
Related: Check out our review of the Wells Fargo Propel Amex
Go Far Rewards Redemption Rates
Importantly, the redemption options available for you are identical for both cards. Points are redeemable as cash-back or statement credit towards merchandise at 1¢ per point. Items you can redeem include:
- Cash-back redemption options.
- Donations to various charities.
- Travel and Merchandise purchase.
- Use the Pay with Rewards at Participating PWR Merchants.
- Gift cards, both physical and digital.
Our Take
Ultimately, we've found that the difference between the Wells Fargo Propel Amex and the Wells Fargo Autograph℠ Card is virtually negligible. The differences in features and benefits are relatively small. In fact, the Wells Fargo Autograph seems to be a slightly better deal than the Wells Fargo Propel Amex.
Also, the move makes lots of sense on the part of Wells Fargo. With two cards that are so similar, it is not worth the effort to keep both running as separate product lines. Scrubbing one of the cards and transitioning everyone to the same product is more economical.
Are you affected by the change? Will you be keeping or canceling your alternative card? Let us know in the comments below.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
Involuntary change of card number might be a problem for those concerned with Chase’s 5/24 rule.
If the new card isn’t an Amex, yes there definitely will be a new account number.