With the well-documented unpopular changes happening with the Uber Card, scores of current and potential future cardholders have been scurrying to find a replacement that offers premiums for gas, dining and grocery categories. The Wells Fargo Propel has been trending as the preferred choice, however today we compare the perks of the Propel with with the Chase Freedom to see which card comes out on top.
Both the Chase Freedom and Wells Fargo Propel tout no annual fee.
The Chase Freedom has rotating quarterly categories, in which you have the ability to earn 5% cash back, up to $1500. You can earn 1% cash back on all other purchases. With the Wells Fargo Propel, you earn 3x Points on travel, gas, rideshare/transit, restaurant, and streaming services, and 1x points on everything else. The first major difference between the two cards is if you like points or true cash back. If you are new to the Chase ecosystem, the cash back rewards do not expire as long as your account is open, and there is no minimum to redeem. Meanwhile, the vast array of categories in which you earn 3x points makes the Propel our winner in this category.
Winner – Propel
The 2019 Chase Freedom Quarterly Cash Back Calendar
The Chase Freedom offers 0% into APR for 15 months from account opening on both purchases and balance transfers, then converting to a variable APR of 16.49-25.24%. The Propel on the other hand, offers you 12 months from account opening with an introductory APR of 0% for purchases as well as balance transfers.
Winner – Freedom
Foreign Transaction Fees:
The Chase Freedom charges 3% of the amount of each transaction, while the Propel shines here, with no foreign transaction fee.
Winner – Propel
Cell Phone Protection:
While the Chase Freedom offers general purchase protection, covering all new purchases for 120 days against damage and theft, for up to $500 per claim and $50,000 per account, the Propel again shines here with their cell phone specific coverage. When you pay your monthly mobile bill with your Propel, you are eligible for up to $600 of protection against theft or covered damage.
Winner – Propel
Chase is currently offering new applicants a chance to earn $150 bonus when you spend $500 on purchases within the first 3 months of account opening. Wells Fargo has a more attractive offering, providing 30,000 points when you spend $3,000 in purchases in the first 3 months. The key with both of these offerings comes down to you. If you are someone who currently spends north of $1,000+/month on your credit cards, or perhaps spends that much on a debit card, and is looking to maximize your spend in the new year, the Propel makes sense. If you are not a large spender, or your budget at the moment doesn’t justify going past a few hundred dollars/month, the Freedom is your choice.
Winner – Tie
Both the Chase Freedom and Wells Fargo Propel are excellent daily driver options if you are in the market for a new no annual fee credit card with benefits on categories you already spend in. Our nod will go to the Wells Fargo Propel, as it provides a more attractive sign-up offer, and if you are spending $1,000/month or mo, you will see a greater overall value here. One thing to mention regarding the Freedom card, you have to make sure you are eligible to potentially be approved for a Chase card. As some are aware, Chase has the infamous “5/24” rule. This rule essentially is you cannot have 5 or more opened credit card accounts in the past 24 months. Not all cards issued by Chase are impacted by this rule, however the Freedom is in the family of premium offerings that would be.