Wells Fargo to Shutter Propel, Move Existing Users to New Cards

The once-popular $0-annual-fee journey bank card hasn’t been accepting new functions since 2021, however Wells Fargo now says the cardboard will likely be discontinued completely, even for present customers, beginning Aug. 4, 2023.

Present cardholders will likely be moved to the same Wells Fargo Autograph℠ Card or the Wells Fargo Lively Money® Card, relying on their latest Propel utilization. Clients who haven’t used their Wells Fargo Propel American Specific® card previously six months will obtain the $0-annual-fee Lively Money. Everybody else will transfer to the Autograph, which additionally has a $0 annual payment.

If a consumer already has a Wells Fargo Lively Money® Card or Wells Fargo Autograph℠ Card, they are going to get the opposite card to keep away from having duplicates, in response to a Wells Fargo spokesperson.

The Propel and Autograph have been already shut cousins, which ought to ease the transition for some cardholders. Each playing cards function 3x factors on journey, transit, gasoline stations, widespread streaming providers and eating places for no annual payment.

As a cash-back card, the Wells Fargo Lively Money® Card has a distinct worth proposition, incomes a flat 2% money again on all purchases.

The transfer will current at the very least one inconvenience to present Propel cardholders: Their card account numbers will change. That is as a result of whereas the Propel runs on the American Specific fee community, the opposite two Wells Fargo playing cards run on the Visa community. Typically talking, American Specific playing cards start with the quantity “5” and have 15 digits, whereas Visa playing cards normally begin with the quantity “4” and have 16 digits.

Virtually, this implies holders of the Wells Fargo Propel American Specific® card who might have saved that card as an autopay methodology will seemingly should manually replace that info, probably throughout a number of providers or accounts, to mirror the brand new card quantity.

One factor that received’t change amid the three-card shuffle, although, is mobile phone insurance coverage. The Wells Fargo Lively Money® Card and Wells Fargo Autograph℠ Card boast the identical mobile phone safety profit that the Propel options: Loss and damages are coated as much as $600 minus a $25 deductible.