Difference Between Bank Of America Cash Rewards And Wells Fargo Propel American Express Card – 14 Points

1. Wells fargo propel offers better overall rewards. But if you keep large balance with bank of america and you can qualify for preferred reward program, you can earn 25% to 75 % more rewards with bank of america cash reward card. Get bank of america cash reward card if you want to choose your bonus category.

2. Pros:

Bank of america cash rewards

Wells fargo propel american express

You can choose your own 3% bonus category

$300 Sign up bonus

No annual fee

Widely inclusive reward categories

0% on Purchases and Balance Transfers for 15 billing cycles

No annual fee

$200 sign up bonus

No foreign transaction fee

You could earn 25 % – 75 % more cash back if you can qualify for the Preferred Rewards program

0% intro apr for purchase and balance transfer

3. Cons:

Bank of america cash rewards

Wells fargo propel american express

Spending cap on 2% and 3% bonus categories

Lack of travel perks

Not so generous sign up bonus

Redeeming for cash back is limited

 

Limited acceptance internationally

4. Reward Rate:

Bank of america cash rewards:

3% cash back on a category of choice (gas, online shopping, dining, travel, drug stores or home improvements and furnishings)
2% cash back on grocery store and wholesale club purchases
$2,500 combined limit on 2% and 3% categories each quarter
1% cash back on other purchases

Wells Fargo Propel American Express:

Earn 3X points on eating out and ordering in (Each point worth 1 cent)
Earn 3X points on travel including flights, hotels, homestays and car rentals
Earn 3X points on gas stations, rideshares and transit
Earn 3X points on popular streaming services
Earn 1X points on other purchases

5.Annual Fee:

Bank of america cash rewards:

$0

Wells Fargo Propel American Express:

$0

6. Sign Up Bonus:

Bank of america cash rewards:

$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

Wells Fargo Propel American Express:

30,000 points if you spend $3,000 in first 3 months

7. Regular Apr:

Bank of america cash rewards:

15.99% – 25.99% Variable APR

Wells Fargo Propel American Express:

15.99% – 27.99% Variable APR

8. Intro Apr:

Bank of america cash rewards:

0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days

Wells Fargo Propel American Express:

0% APR for 12 months on purchases and qualifying balance transfers

9. Credit Needed:

Bank of america cash rewards:

690 – 850 Good to Excellent

Wells Fargo Propel American Express:

690 – 850 Good to Excellent

10. Bank of america cash rewards:

3% bonus categories ( You can select one)

Gas
Online shopping
Dining
Travel
Drugstores
Home improvement and furnishings

11. Customer Experience:

Bank of america cash rewards:

24/7 customer service?: No
Online chat available?: Yes
Google Play Store mobile app rating: 4.5/5
Apple Store mobile app rating: 4.6/5

Wells Fargo Propel American Express:

24/7 customer service?: Yes
Online chat available?: Yes
Google Play Store mobile app rating: 4.4/5
Apple Store mobile app rating: 4.8/5

12. Other Benefits:

Bank of america cash rewards:

Fraud protection
Paperless statements
Mobile banking
Account alerts
If you’re a Preferred Rewards member, you can earn 25% – 75% more cash back on every purchase

Wells Fargo Propel American Express:

No foreign transaction fee
Car rental loss and damage insurance
Travel accident insurance
Extended warranty
Lost luggage insurance
Retail protection
Access to presale and VIP event tickets

13. Get Bank of America Cash Reward Card:

If you want to choose your bonus category.
If you have significant balance with bank of america account and can qualify for preferred reward boost.
If you prefer cash back over points.
If you want card with no annual fee and good reward rate.

14. Get Wells Fargo Propel American Express Card:

If you want travel card with no annual fee and great reward rate.
If you want to take advantage of travel and purchase protection.
If you want each point worth 1 cent.

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