Both the Wells Fargo Propel American Express® and Amex Gold Card are tempting options for credit card users who crave rewards on everyday spending. However, they cater to slightly different spending habits and creditworthiness. Let’s delve into their features and see which card reigns supreme for your wallet.
Basic Feature Comparison
| Feature | Wells Fargo Propel American Express® | Amex Gold Card |
|---|---|---|
| Credit Network | American Express | American Express |
| Annual Fee | $0 | $250 |
| Rewards Rate | 3X points on travel, dining, streaming services, gas stations & phone plans (1X on other purchases) | 4X points at supermarkets (up to $6,000 per year, then 1X), 3X on flights booked directly with airlines or on Amex Travel, 1X on other purchases |
| Welcome Bonus | Up to 20,000 points after spending $1,000 in the first 3 months | Up to 60,000 points after spending $4,000 in the first 6 months |
| Foreign Transaction Fees | None | None |
Comparison Table Between Wells Fargo Propel American Express Vs Amex Gold Card
| Feature | Wells Fargo Propel American Express® | Amex Gold Card |
|---|---|---|
| Credit Network | American Express | American Express |
| Annual Fee | $0 | $250 |
| Rewards Rate | 3X points on various categories (1X on others) | 4X points at supermarkets (up to $6,000/year), 3X on flights, 1X on others |
| Welcome Bonus | Up to 20,000 points | Up to 60,000 points |
| Foreign Transaction Fees | None | None |
| Travel Credits | None | Up to $200 airline fee credit, Up to $120 Uber Cash credit (varies) |
| Airport Lounge Access | None | Priority Pass Select membership |
| Required Credit Score (estimated) | 670+ | 700+ |
Who Should Choose Which Card:
- Wells Fargo Propel American Express®: Ideal for those with good to excellent credit who spend across various categories like travel, dining, and streaming services, but don’t want to pay an annual fee.
- Amex Gold Card: A better fit for frequent travelers and foodies with excellent credit who spend heavily at supermarkets and restaurants, and value premium travel benefits despite the annual fee.
Also Read: Navy Federal vs. USAA Credit Cards: A Side-by-Side Comparison
Pros and Cons: Wells Fargo Propel American Express®
Pros:
- No annual fee
- Earns points in various spending categories
- No foreign transaction fees
Cons:
- Lower rewards rate compared to Amex Gold Card for some categories
- Limited travel statement credits or airport lounge access
- Potentially lower credit limit compared to Amex Gold Card
Pros and Cons: Amex Gold Card
Pros:
- Higher rewards rate for groceries and dining
- Up to $200 annual airline fee credit
- Up to $120 annual Uber Cash credit (varies by quarter)
- Includes airport lounge access through Priority Pass Select membership
Cons:
- $250 annual fee
- Rewards program heavily weighted towards groceries and dining
Requirements:
- Wells Fargo Propel American Express®: Generally requires good to excellent credit (typically a score of 670 or higher).
- Amex Gold Card: Typically requires excellent credit (often a score of 700 or higher).
Conclusion
The Wells Fargo Propel American Express® offers a no-frills approach to rewards, earning on various categories without an annual fee. The Amex Gold Card boasts a richer rewards program for specific categories but comes with a hefty annual fee and requires excellent credit. Consider your spending habits and creditworthiness to pick the card that best complements your financial goals.