Wells Fargo & Company (NYSE: WFC) and American Express (NYSE: AXP) today
launched the new Propel 365 and Propel World credit cards, which will be
available for Wells Fargo customers and accepted on the American Express
network. The new cards, issued by Wells Fargo, offer customers the
ability to maximize everyday spending to earn rewards faster, enjoy rich
and competitive offers, benefit from enhanced protections while shopping
and traveling, and receive advance access to entertainment, merchant
discounts and a dedicated concierge service.
Wells Fargo Propel World American Express(R) Card (Photo: Business Wire)
“Last year, we announced our partnership with American Express as part
of our goal to earn more of our customers’ credit card business and help
them succeed financially through distinctive and compelling offerings,”
said Avid Modjtabai, head of Wells Fargo’s Consumer Lending Group. “The
culmination of this partnership is Propel 365 and Propel World – two new
credit cards that offer upgraded travel experiences, accelerated rewards
on travel and every day purchases and powerful bonuses for Wells Fargo
relationships. We are excited to partner with American Express, a
company that shares our history and commitment to delight customers in
every interaction.”
The Propel
365 credit card maximizes a cardholder’s everyday spending by
offering triple rewards points on domestic gas purchases and double
points on domestic restaurant charges. Propel 365 cardholders can also
take advantage of an annual Wells Fargo relationship bonus to earn an
extra 10, 25 or 50 percent on their rewards points by maintaining a
qualifying Wells Fargo checking or savings account or a PMA®
package. Cardholders will also benefit from access to unique offers
from top brands through Amex Offers, as well as concierge services that
help with a wide range of activities from securing concert tickets to
making restaurant reservations and providing gift suggestions. In
addition, Propel 365 cardholders who like to travel will not pay foreign
transaction fees.
The Propel
World credit card is designed for travelers and provides chip
technology to protect cardholders as they spend globally. Cardholders
will benefit from an annual $100 fee reimbursement on incidental airline
charges and will not pay foreign transaction fees. Propel World
cardholders can also earn triple points on airline purchases and double
points on hotel purchases, take advantage of special offers, amenities
and upgrades at luxury hotels around the world and be supported by 24/7
premium concierge services. In addition, cardholders have the ability to
earn an extra 10, 25 or 50 percent on their rewards points by
maintaining a qualifying Wells Fargo checking or savings account or a PMA®
package.
“These cards have a strong value proposition because of the combined
benefits that both Wells Fargo and American Express can provide
together,” said Beverly Anderson, head of Wells Fargo’s Consumer
Financial Services group. "We believe these combined benefits stand
firmly against our competitors’ offerings and combined with the personal
relationships we have with our customers, will provide some of the best
value in the market today."
There is no expiration or earning cap on rewards points for Propel
cardholders and as part of the Wells Fargo Rewards®
Program, they can combine rewards accounts associated with different
Wells Fargo credit card products. Additionally, cardholders will enjoy
many great redemption options as well as the Earn More Mall®
feature available at MyWellsFargoRewards.com.
Wells Fargo customers can apply for the cards through mail, online,
phone and 6,000 retail store locations.
“We have worked closely with Wells Fargo to deliver an excellent suite
of benefits and services to their new Propel cardholders,” said William
Stredwick, senior vice president, Global Network Partnerships, North
America, American Express. “The new Propel products offer everything
from early ticket sales to some of the most popular concerts coming out
today, as well as discounts from leading brands and extraordinary travel
offers and packages, allowing Propel cardholders to enjoy the numerous
advantages associated with the American Express brand together with the
outstanding rewards and services offered by Wells Fargo.”
Additional details about both Propel World and Propel 365 can be found
at www.wellsfargo.com/getpropel.
The card issuing partnership between Wells Fargo and American Express
was originally
announced on August 7, 2013.
About the Joint History between Wells Fargo and American Express
In 1850, Henry Wells, William G. Fargo and John Butterfield joined to
establish the American Express Company to transport packages, valuables,
and goods. In 1852, Henry Wells and William Fargo formed Wells Fargo &
Company to extend reliable banking and express service to the Pacific
Coast following the discovery of gold in California. John Butterfield,
American Express founder and Vice President, maintained the American
Express business based in New York, expanding its East Coast operations,
while Henry Wells and William Fargo served as the first and second
president of American Express, respectively.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.5 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through more than 9,000 locations, 12,500 ATMs, and the internet
(wellsfargo.com),
and has offices in 36 countries to support customers who conduct
business in the global economy. With more than 265,000 team members,
Wells Fargo serves one in three households in the United States. Wells
Fargo & Company was ranked No. 25 on Fortune’s 2013 rankings
of America’s largest corporations. Wells Fargo’s vision is to satisfy
all our customers’ financial needs and help them succeed
financially. Wells Fargo perspectives are also available at blogs.wellsfargo.com.
About American Express
American Express is a global services company, providing customers with
access to products, insights and experiences that enrich lives and build
business success. Learn more at americanexpress.com
and connect with us on facebook.com/americanexpress,
foursquare.com/americanexpress,
linkedin.com/companies/american-express,
twitter.com/americanexpress,
and youtube.com/americanexpress.
Since 1997, American Express has partnered with a select group of
leading banks and financial institutions around the world to issue
American Express-branded products and acquire merchants on to the
American Express merchant network. By leveraging its partnerships,
global infrastructure and the powerful appeal of the brand, American
Express has gained even broader reach for its network worldwide.
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