An In-Depth Guide to Wells Fargo Propel Rewards
Wells Fargo Propel Rewards is a popular credit card rewards program. This article details how to earn Wells Fargo Propel Rewards, how to redeem them, and other related information.
1. How Wells Fargo Rewards are calculated
Wells Fargo Rewards are earned on credit card purchases and can be redeemed in a variety of ways. The value of points depends on how they are earned and redeemed.
For example, if you earn 2% cash back with your Wells Fargo Active Cash® Card, your total reward value will be $20. However, if you spend $1,000 on your Wells Fargo Autograph℠ Card, the total reward points you earn will depend on how you spend it. The card earns 3 points per dollar spent on restaurants, travel, gas stations, transportation, popular streaming services and phone plans.
Plus, earn 1 point for every dollar spent on other purchases. Assuming you spent $300 on bonus category purchases and $700 on all other purchases, you will earn 1,600 reward points. Redeem this for cash and the reward will be $16.
2. Value of Wells Fargo Rewards
Wells Fargo Rewards are worth 1 cent per point when redeemed as statement credit. However, redemption must be in increments of 100 points or $1. A minimum of $25 or 2,500 points can be redeemed over the phone or online. Minimum redemption via ATM is $20 or 2,000 points.
3. How to Earn Wells Fargo Rewards
Wells Fargo Rewards can be earned in a number of ways, including opening a new credit card, daily spending on cards that earn Wells Fargo Rewards, and shopping on the Wells Fargo Rewards online portal.
3.1 Recommended credit cards
– Wells Fargo Active Cash® Card: $0 annual fee and earn 2% cash rewards on your purchases. You’ll also get a $200 Cash Rewards bonus when you make a $500 purchase in the first 3 months. You can also receive your earned cashback as Wells Fargo Rewards.
– Wells Fargo Autograph℠ Card: $0 annual fee and earn 3 points per dollar spent on restaurants, travel, gas stations, transit, popular streaming services and phone plans. You also earn 1 point per dollar spent on other purchases.
Plus, you’ll get 20,000 bonus points for every $1,000 purchase you make in the first three months. Any rewards you earn can be redeemed through Wells Fargo Rewards, including travel and statement credits.
4. How to redeem Wells Fargo Rewards
Redeeming Wells Fargo Rewards is a very intuitive process. Below are some ways you can redeem.
4.1 Travel
Wells Fargo Rewards can be used for travel such as flights, hotels, cruises and car rentals. It can also be used for experiences such as booking safari tours, golf courses, and exploring ancient ruins.
4.2 Cashback
At Wells Fargo, you can not only use your points as statement credits, but you can also withdraw them as cash from ATMs. ATMs can be redeemed in increments of $20, with a minimum redemption point of 2,000 points.
4.3 Gift Cards
Wells Fargo Rewards can be used to purchase gift cards. Wells Fargo Rewards are worth 1 cent per point when redeeming a gift card.
5. Summary
Wells Fargo Rewards is a rewards program that offers a wide range of redemption options. If you have a Wells Fargo credit card, make the most of this program and enjoy great rewards.
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