Wells Fargo and American Express have launched their third credit card product together.

The Wells Fargo Propel American Express Card allows users to earn triple reward points on gas purchases and double points on restaurant spending within the U.S. Customers with a Wells Fargo checking or savings account can also earn an extra 10% in rewards.

The offering is different from the previous two cards in that it has no annual fee. The Propel 365 and Propel World Cards launched in May 2014. Wells said customers wanted it "to offer a card with similar features without paying an annual fee – so that's what we did," it said in a Jan. 12 news release.

The Propel American Express Card also allows consumers to combine their rewards accounts associated with various other Wells Fargo credit card products.

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