The number of rewards cards on the market is constantly growing, with more and more issuers being interested in releasing the best offers. Whether we’re talking about getting reimbursed for dining out or spending in a specific store, there’s definitely something for you out there.
Fear Wells Fargo, Chase!
For example, the newly launched Wells Fargo Propel – well, improperly said new, because it’s a reiteration of an older card, eventually closed to new applicants in February – will get you serious points if you spend with it on dining, transit, travel, or streaming services. Specifically, we’re talking about 3x “Go Far Rewards” points for these, as well as 1x point for money spent on anything else.
As a side note, current customers of the original card will be converted to the new card and benefits automatically, says Business Insider.
The good part about Wells Fargo’s card is that you can also redeem the points, each of them valuing 1 cent, towards cash, gift cards, travel, or more.
The above-mentioned source claims that this new card is a direct assault on the popular Chase Sapphire Reserve, running through American Express’ payment network, will include a number of purchase protections, but also offers available through Amex. Still, its perks can’t be compared to the one offered by the Chase card, like airport lounge access and extensive travel protections.
Surely an option worth considering
Back to the Wells Fargo card, we can call it a really strong contender to the title of “the most interesting rewards card of the moment”, considering that it’s coming from a bank that can’t be called a major player in the rewards space. Also, it’s a valid option for those who want a more straightforward rewards program than the one offered by Chase.
“Points can be redeemed for travel, gift cards, charity donations, or cash back at a rate of 1 cent per point, so effectively you’ll get 3 cents per dollar spent on travel, dining, gas and streaming services,” said Brian Kelly, Founder and CEO of travel and credit card rewards website The Points Guy. “That’s a solid return, especially for a no-fee card.”