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Wells Fargo Cash Back College Card Review — Should You Apply?

Looking for the best credit card in college? Take a look at our Wells Fargo Cash Back College Card review to see whether you should apply.

Using payment methods other than cash can be useful, especially if you need to shop online for necessities such as textbooks. Plus, college can be a perfect time to build credit while earning rewards. The good news is there are plenty of credit cards geared toward college students, even if you’re on a limited income. 

One such option is the Wells Fargo Cash Back College Card. Existing Wells Fargo customers can apply for this credit card and earn decent rewards. Plus, there are notable features such as a low annual percentage rate (APR), though there may be better card offerings out there. 

Still, this student credit card may be worth a look. We outlined what you need to know about the Wells Fargo Cash Back College Card to help you decide if it’s the right card for you. 


  • Annual fee: $0.
  • APR: 0% for the first six months and 11.15% to 21.15% variable APR afterward.
  • Rewards: 3% cash back for up to $2,500 spent on gas, grocery and drugstore purchases for the first six months and 1% for all other purchases.
  • Credit management tools: free FICO credit score and tools for tracking spending and savings goals.
  • Best for: existing Wells Fargo customers.

Wells Fargo Cash Back College Card Features

The Wells Fargo Cash Back College Card offers many of the same features that other credit cards aimed at college students do. Its main perks include a 0% introductory APR for balance transfers and purchases and 3% cash back for up to $2,500 spent on drugstore, gas and grocery purchases within the first six months of account opening. 

Here’s a closer look at what this credit card offers. 


As mentioned above, the Wells Fargo Cash Back College Card offers cash-back rewards. In addition to the 3% cash back for up to $2,500 spent on drugstore, gas and grocery purchases for the first six months, you’ll earn 1% cash back for each dollar you spend on all other purchases. The rewards you earn will sit in Well Fargo’s Go Far Rewards Program until you’re ready to use them. 

Here are several ways you can redeem your rewards:

  • You can do so automatically by having the cash deposited in $25 increments into your Wells Fargo savings account.
  • Apply your cash-back rewards toward the principal balance of a qualifying Wells Fargo credit or loan.
  • Redeem in $25 increments through the Go Far Rewards portal for rewards such as gift cards and travel.
  • Redeem in $20 increments with your Wells Fargo ATM or debit card at a Wells Fargo ATM.
  • Receive a paper check.

Keep in mind that if you don’t have a Wells Fargo bank account, you may have to wait longer to receive cash-back rewards. However, if you’re looking to use the card for other rewards, you can do so through the Go Far Rewards portal. This program doesn’t have the best reputation, as the redemption values aren’t the greatest, and it isn’t as user-friendly. 

Aside from redemption options, keep in mind you’ll have to wait until you reach the minimum threshold to receive your rewards. $20 or $25 may not sound like much until you realize you’ll probably have to spend hundreds of dollars before you can cash out. 

For example, you’ll need to spend around $667 for the first six months on drugstore, gas or grocery purchases to each $20 in cash back. For other purchases, you’ll need to wait until you spend at least $2,000.

Balance Transfers and 0% Introductory APR

One of the best perks of the Wells Fargo Cash Back College Card is the 0% introductory APR for six months on balance transfers and purchases. That means if you want to create some breathing room, you can make a purchase and have six months to pay it off. Be careful about budgeting carefully so you don’t end up paying interest when you don’t have to.

The card’s regular variable APR of 11.15% to 21.15% is fairly standard. 

Credit Management Tools

Wells Fargo has a few financial management tools to help you with tasks such as understanding your credit situation and budgeting effectively. 

  • Some of the tools you can use include the following:
    Credit score monitoring: You can see your FICO score after you’ve used your card for a few months.
  • My Spending Report: Users can track their spending by looking at graphs to visualize patterns in spending.
  • Budget Watch: See where you stand with your Wells Fargo accounts and even create alerts such as when you spend up to a predetermined amount.
  • My Savings Plan: Track progress you’re making toward any savings goals. 

Is the Wells Fargo Cash Back College Card Suited for You?

The Wells Fargo Cash Back College Card is best suited for existing Wells Fargo customers who aren’t too fussy about choosing a card and are looking to build their credit and see earning rewards as a small perk. It’s also a great fit for those who are looking for a card with a 0% introductory APR to help spread out larger purchases. 

However, if your credit is fairly established and you’re looking for better rewards, there are many other options available that help you earn more than this credit card can. Many of them also don’t have annual fees but have added benefits such as higher sign-up bonuses. 

Still, this card may be worth a look since it offers tools to help college students manage their money, unless you really care about earning more rewards. 

Building your credit isn’t the only smart financial move you can make. One action that can save you thousands of dollars is shopping around for undergraduate and graduate student loans. Juno is here to help by negotiating lower rates on your behalf, and becoming a member is absolutely free. 

Sarah Li Cain

Written By

Sarah Li Cain

Sarah Li Cain is a finance writer and a candidate for the Accredited Financial Counselor designation whose work has appeared in places like Bankrate, Business Insider, Financial Planning Association, Investopedia, Kiplinger, and Redbook. She’s the host of Beyond The Dollar, where she and her guests have deep and honest conversations about money affects their well-being.


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