Rating: 5 Stars
Bottom Line:
Build Credit in College
TABLE OF CONTENTS
Card Details
| Regular APR: | 12.90 – 22.90% (Variable) |
| Intro APR (Purchases): | 0% for 6 months |
| Intro APR (Balance transfers): | 0% for 6 months |
| Rewards Rate: | 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months Enjoy 1% cash rewards for other purchases |
| Credit Needed: | (0 – 300) Limited/No |
| Annual Fee: | None |
| Card Brand: | Visa |
*See online credit card application for details on the terms and conditions.
Offer Highlights
- Click APPLY NOW to apply online
- Build credit history while you?re in college
- 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months. Enjoy 1% cash rewards for other purchases
- $0 annual fee
Is Wells Fargo Cash Back College Card worth it?
Wells Fargo Cash Back College Card is a solid card for students who want to build credit and earn cash back. However, the secured card market is filled with good options.
For example, other secured cards have longer intro periods, higher rewards rates, or fewer fees. If you want a longer 0% intro period, consider Bank of America Cash Rewards Credit Card for Students or Bankamericard for Students. If you want no foreign transaction fee for when you travel, consider Journey Student Rewards from Capital One or Bank of America Travel Rewards for Students. If you want higher rewards, consider Discover it Student Cash Back or Bank of America Cash Rewards Credit Card for Students.
With a maximum of $2,500 in cash back, the maximum 2% bonus cash you can get is $50, when you take into account the $25 of 1% cash you get automatically. Cash redemptions are available in $25 increments only, but you can share and pool your rewards with friends, family, or people in your community or donate your rewards.
Most people’s needs can be met with another secured card that offers better terms. However, if you are an existing Wells Fargo customer looking to build credit, you can’t go wrong with Wells Fargo Cash Back College Card.
Pros
- Build your credit
- Monthly reporting to big 3 credit bureaus
- 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months
Cons
- Purchases made through a mobile wallet or through a mobile card reader will not earn 3% cash rewards
- As is the case with most credit cards, you will need to demonstrate that you have income to be approved so that Wells Fargo knows you can make the monthly payment
Why 5 Stars?
Regular APR
4 Stars
Intro APR
5 Stars
Fees
4 Stars
Perks
5 Stars
Overall
5 Stars
Fees
| Foreign Transaction Fee | 3% |
| Balance Transfer Fee | Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 120 days from account opening. After that, up to 5% for each balance transfer, with a minimum of $5 |
| Cash Advance Fee | Either $10 or 5% of the amount of each advance, whichever is greater |
| Penalty APR | None |
Benefits
| $0 Fraud Liability |
| Auto Rental Collision Damage Waiver |
| Cell Phone Protection |
| Roadside Assistance |
| Travel and Emergency Assistance |
Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.
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