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Wells Fargo Cash Back College card Review: A Rewards Card for Students

Review Updated
Elizabeth Aldrich
Author: Elizabeth Aldrich
Elizabeth Aldrich
Elizabeth Aldrich
Elizabeth is a personal finance writer specializing in credit cards, debt repayment, and small business. Her work has appeared on The Motley Fool, MSN Money, Yahoo! Finance, and Business Insider. She’s an avid credit card points collector and perpetual traveler currently living in Costa Rica.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page.

Offer Status

This offer is currently unavailable through Wells Fargo and some offer details may be out of date.

The Wells Fargo Cash Back College℠ card stands out from the growing sea of student credit cards not so much for its rewards as for its other perks. These include a FICO® Score for free, a six-month 0% introductory APR, cellphone protection, and travel assistance services. The rewards-earning potential after the six-month introductory period is modest, but you can still earn cash back on purchases. Plus, you're building a credit history that can pave the way to better rewards credit cards later. Find out more about these and more benefits in our Wells Fargo Cash Back College℠ card review.

Ratings Methodology

Wells Fargo Cash Back College℠ card

Great for: Students rewards program

Wells Fargo Cash Back College℠ card
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Fair/New to Credit Under(669)
Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Fair/New to Credit Under(669)

Intro APR Circle with letter I in it. 0% intro APR for 6 months from account opening on purchases and qualifying balance transfers. Balance transfers made within 120 days qualify for the intro rate and fee

Purchases: 0%, 6 months

Balance Transfers: 0%, 6 months on qualifying balance transfers

Regular APR

11.15% - 21.15%, variable

Rewards

1% cash back

Annual Fee

$0

Welcome Offer Circle with letter I in it. 3% cash back on gas, grocery and drugstore purchases (up to $2,500 spent) for the first 6 months

3% cash back

  • As far as student cards go, this is one of the best options for its rewards and other perks. There is a six month intro period to earn bonuses, but the rewards earning potential doesn't stop there.

    • Bonus cash back offer
    • No annual fee
    • 0% intro APR offer
    • Cell phone protection
    • Free credit score monitoring
    • Lackluster cash back rate
    • Application process
    • Earn 3% cash back on gas, grocery and drugstore net purchases up to $2,500 spent for the first 6 months and 1% cash back on all other net purchases.
    • Have cash automatically deposited into your Wells Fargo savings account in $25 increments or apply rewards as a credit to a qualifying Wells Fargo product.
    • Request a paper check or redeem in $20 increments at a Wells Fargo ATM.
    • Redeem rewards for travel, gift cards, and more.
    • Extra cash rewards earning potential and deals at participating merchants of the Earn More Mall®.
This offer is currently unavailable through Wells Fargo and some offer details may be out of date.

Full Wells Fargo Cash Back College card review

This credit card is a good fit for: Students looking for a card that will start them off with an excellent cash back rate. Those who have big purchases to make or credit card debt to pay off could also benefit from this card's 0% intro APR.

Top perks

Earn rewards on everyday purchases

In addition to helping college students build a credit history, Wells Fargo Cash Back College℠ cardholders can earn up to 3% cash back on up to $2,500 in spending at gas stations, grocery stores, and drugstores during their first six months. That amounts to $75 in cash back rewards. You'll also earn an unlimited 1% back on other eligible purchases during the introductory period. After the first six months are up, you'll receive 1% cash back on eligible purchases.

Read more: Best Rewards Credit Cards

No annual fee

Wells Fargo doesn't charge you an annual fee for adding the Wells Fargo Cash Back College℠ card to your wallet.

See more options: Best No Annual Fee Credit Cards

0% introductory APR for six months

The Wells Fargo Cash Back College℠ card offers a 0% introductory APR on purchases and balance transfers in the first six months. This is a rare benefit among student credit cards and may be useful if you need to finance a large purchase or pay down credit card debt.

Flexible reward redemption

You can redeem your Wells Fargo Cash Back College℠ card rewards via deposit into a Wells Fargo savings account in $25 increments, at a Wells Fargo ATM in $20 increments, or by requesting a check. You can also redeem your cash back for gift cards, travel rewards, and merchandise.

Access to your FICO® Score

All Wells Fargo Cash Back College℠ cardholders receive free FICO® Scores once per month. You can access yours by logging into your online Wells Fargo account. FICO is the most popular credit scoring model in use today and knowing your score can help you assess your chances of being approved for new credit.

Travel and cellphone protection

Wells Fargo Cash Back College℠ cardholders receive several protections rarely found with student credit cards. These include:

  • Cellphone protection: If your smartphone is damaged or stolen, Wells Fargo will pay up to $600 towards its repair or replacement, subject to a $25 deductible. You must enroll in automatic payments and pay your cellphone bill with your Wells Fargo Cash Back College℠ card in order to qualify. There's a $1,200 maximum annual benefit.
  • Roadside dispatch: Wells Fargo will call someone to assist you if your vehicle breaks down.
  • Travel and emergency assistance: Travel and emergency assistance can connect you with medical, legal, and other emergency services in your area when you are traveling.
  • Auto rental collision damage waiver: This waiver protects most rental cars for up to 15 days within the United States or 31 days outside of it. It is secondary coverage, so you must first rely on any other car insurance you have. But it can help cover your car insurance deductible or any damages to the rental car not covered by your auto insurance.

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
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= Good
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Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.49% - 27.49% Variable APR *Rates as of December 12, 2024.

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular: 19.24%, 24.24%, or 29.24% Variable APR

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 1.5 points per dollar Circle with letter I in it. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open.

Intro: Circle with letter I in it. 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.49% - 28.49% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular: 18.49% - 28.49% (Variable)

Apply Now for Bank of America® Travel Rewards credit card

On Bank of America's Secure Website.

What could be improved

Rewards-earning rate drops after six months

The 3% cash back rate on drugstore, grocery, and gas purchases drops to 1% after six months. Student credit cards aren't known for their great rewards, but there are some that offer these bonus categories to cardholders for as long as they own the card. One of these might suit you better if you're interested in maximizing your rewards-earning potential.

No automatic card upgrades

Some credit card issuers automatically upgrade student credit card holders to regular rewards credit cards when they graduate, or sometimes after a few months of responsible use. Wells Fargo does not do this, so you will have to call to request an upgrade or apply for a new card yourself.

Existing Wells Fargo relationship required to apply online

You may only apply for the Wells Fargo Cash Back College℠ card online if you already have a checking or savings account or have taken out a loan with the bank. If you don't already have one of these, you'll have to contact Wells Fargo by phone or visit a branch in person in order to apply. It's not a huge deal, but most other student credit cards enable you to sign up online, which many people find to be easier and faster.

Find the best credit card for your needs
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Suggested credit score

This card is designed to help students build credit, so you don't need to already have good credit or an established credit history in order to apply. However, that doesn't mean that everyone who applies is approved. Wells Fargo will still evaluate your credit qualifications, which can include your credit history, income, and existing debt.

The Wells Fargo Cash Back College card is right for you if:

The Wells Fargo Cash Back College℠ card is one of the only student credit cards to offer a 0% introductory APR. This makes it a solid choice for college students who are interested in financing a large purchase or are already carrying some credit card debt. Students interested in its cellphone protection and travel services should also move this card up on their list because there aren't many student credit cards that offer these perks.

It does give college students an opportunity to earn rewards while building credit. But those interested in maximizing their credit card rewards may prefer a student credit card that doesn't drop the rewards-earning rate on their bonus categories after the card's introductory period is up. When it comes to earning rewards, college students -- and credit card users generally -- should avoid chasing the most rewards points if doing so would cause them to accumulate credit card debt.

A student credit card is first and foremost a tool to help you establish a responsible credit history, and the Wells Fargo Cash Back College℠ card can help you do that while still giving you some modest rewards in the process.

Want more credit card options? Check out our guide on the best cash back credit cards.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • The credit limit for the Wells Fargo Cash Back College℠ card typically ranges from $500 to $2,000 or more. Wells Fargo bases the credit limit on the cardholder's creditworthiness. Since this is a student card, credit limits tend to be lower than they are on other credit cards.

  • The Wells Fargo Cash Back College℠ card is no longer available.

  • It's possible to upgrade the Wells Fargo Cash Back College℠ card to another card in the Wells Fargo lineup. To request an upgrade, call the number on the back of your card.