The Wells Fargo Cash Back CollegeSM Card is a popular choice among students and young adults looking to earn cash back rewards on their purchases. You can earn 2% cash back on purchases made in your first year, up to $1,000 spent in the first 6 months.
This card has no annual fee, making it a great option for those who want to earn rewards without paying extra. You can also earn 1% cash back on all other purchases, which is still a great reward for everyday spending.
The card also offers a $0 foreign transaction fee, making it a great option for students who travel abroad. This can save you money on international transactions, which can add up quickly.
What Is the Wells Fargo Cash Back CollegeSM Card?
The Wells Fargo Cash Back CollegeSM Card is a rewards credit card designed specifically for college students. It offers 3% cash back on gas, 2% cash back on groceries, and 1% cash back on all other purchases.
This card has no annual fee, making it a great option for students on a budget. It also offers a generous sign-up bonus of $200 cash back after spending $1,000 in the first 6 months.
The card's cash back rewards are automatically deposited into the student's Wells Fargo checking account, making it easy to redeem rewards.
What Is?
The Wells Fargo Cash Back CollegeSM Card is a rewards-based credit card that offers a wide variety of ways to earn, use, and share rewards. With this card, you can earn rewards on virtually all purchases, including everyday items like groceries or gas.
You can earn rewards on bigger items, like when you book travel or stay at a hotel.
What Are?
The Wells Fargo Cash Back CollegeSM Card is part of a rewards program called Wells Fargo Rewards. This program offers flexible points for cardholders who make qualifying purchases or transactions.
Every purchase made with the card earns points at a flat rate, which is a great benefit for cardholders who use their card frequently. New members can also earn bonus points after approval for the card and meeting certain spending criteria, which is a nice incentive to start using the card.
Card Features and Benefits
The Wells Fargo Cash Back Collegeā Card offers a 0% introductory APR for the first six months after account opening, which can be a lifesaver in case of an emergency. This introductory rate also applies to balance transfers made within 120 days of account opening, but be aware that there's a 3% intro balance transfer fee.
You'll earn 3% cash back on up to $2,500 spent on drugstore, gas, and grocery purchases within the first six months of account opening. This is a pretty sweet deal, especially if you're a college student with regular expenses in these areas.
No Annual Fee
Having a card with no annual fee is a big plus. This means you can use the card without worrying about an extra charge each year.
The Wells Fargo Active Cash Card has a $0 annual fee. This makes it an easy card to hold onto for a long time.
One of the benefits of this card is the high rewards rate of 2%. This means you'll earn a decent amount of rewards on your purchases.
The card also offers an intro APR period of 0% for 12 months on purchases and balance transfers. This can be a huge help if you need to finance a large purchase or pay off debt.
Here are some key benefits of the card's no annual fee:
- No annual fee
- High rewards rate of 2%
- Intro APR period of 0% for 12 months on purchases and balance transfers
My Deals
My Deals is a great feature that can help you save money on your purchases. To participate, you must activate offers before shopping directly with a participating retailer offering a deal.
You can enroll your card in these offers online or in the app, making it easy to take advantage of cash back rewards.
My Wells Fargo Deals is a cash-back program that allows you to get rebates, as cash back or a statement credit, by using your enrolled card at select merchants.
Pros
The Wells Fargo Cash Back College Card has some great features that make it a solid choice for college students.
It offers a high rewards rate, with 3% cash back for up to $2,500 spent on drugstore, gas, and grocery purchases within the first six months of account opening.
No annual fee is a huge perk, making this card easy to hold onto for a long time.
The card also has an intro APR period, which can be a lifesaver if you need to make a large purchase.
Rewards and Redemption
The Wells Fargo Cash Back College Card offers a range of rewards and redemption options. You can earn cash back on your purchases, with 3% cash back on up to $2,500 spent on drugstore, gas, and grocery purchases within the first six months.
To redeem your rewards, you can choose from several options, including a statement credit, withdrawal from a Wells Fargo ATM, direct deposit into a Wells Fargo checking or savings account, or a mailed paper check.
Rewards redemptions can be made through your online account, by calling 877-517-1358, or by ATM withdrawal if you have a Wells Fargo ATM or debit card.
2% Back + Sign-up Bonus
The Wells Fargo Active Cash Card stands out from the pack with its 2% cash back rewards, plus a sign-up bonus of $200 cash rewards after spending $500 in purchases in the first 3 months.
If you're looking for a card that earns 2% cash back, you'll find that many cards typically top out at 1.5% cash back, making the Wells Fargo Active Cash Card a great option.
One of the key benefits of this card is its sign-up bonus, which can be a game-changer for those who can meet the spending requirement.
To put this into perspective, if you spend $500 in the first 3 months, you'll earn a $200 cash rewards bonus, which is a great incentive to sign up for the card.
Here are the details of the sign-up bonus:
- Spend $500 in purchases in the first 3 months
- Earn a $200 cash rewards bonus
Overall, the Wells Fargo Active Cash Card offers a unique combination of 2% cash back rewards and a sign-up bonus, making it a great option for those who want to earn rewards and cash back on their purchases.
Flexible Redemption Options
Flexible redemption options are a key part of the Wells Fargo Rewards program. You can redeem your cash-back rewards in various ways, including a statement credit, a withdrawal from Wells Fargo ATMs in $20 increments, a direct deposit into a Wells Fargo checking or savings account, or a mailed paper check.
There are four ways to redeem your cash-back rewards, as outlined below:
- A statement credit.
- A withdrawal from Wells Fargo ATMs in $20 increments using a Wells Fargo ATM or debit card.
- A direct deposit into a Wells Fargo checking or savings account.
- A mailed paper check.
If you have a Wells Fargo ATM or debit card, you can withdraw your cash-back rewards in $20 increments from a Wells Fargo ATM. And if you have a Wells Fargo checking or savings account, you can have your rewards deposited there.
You'll get the most flexibility if you bank with Wells Fargo, but you can also redeem your rewards through the Go Far Rewards portal, which offers more options, including gift cards and travel.
Using and Managing the Card
Using the Wells Fargo Cash Back College Card is relatively straightforward, but there are a few things to keep in mind.
You can redeem your rewards in various ways, including travel, statement credit, cash withdrawals from an ATM, or transferring them to travel partners or to buy gift cards or merchandise. This flexibility is great for students who want to use their rewards in different ways.
To transfer rewards to a bank account, you can call 877-517-1358 or log in to your online account and request the redemption. Statement credits toward the principal balances of credit card, loan or mortgage accounts are also possible.
If you need to transfer a balance, be aware that there is a balance transfer fee of 3% (minimum $5) for the first 120 days after account opening. After that, the fee can be up to 5% (minimum $5).
Use PayPal
You can link your Wells Fargo card to PayPal Wallet and use your rewards for eligible purchases at checkout when you shop online.
If you shop online, you can use your Wells Fargo rewards for the purchase and don't have to use all your rewards at once.
To use your rewards, simply adjust the amount to use for the purchase in your PayPal Wallet.
You can also transfer your Wells Fargo Rewards to a bank account by calling 877-517-1358 or logging in to your online account and requesting the redemption.
Statement credits toward the principal balances of credit card, loan or mortgage accounts are also possible when transferring your rewards to a bank account.
This way, you can manage your rewards and use them in a way that suits your needs.
How to Use
You can use your Wells Fargo Rewards in various ways, including redeeming them for travel or as a statement credit toward your card balance. You can also use them to buy gift cards or merchandise.
Redeeming your rewards for travel or a statement credit is straightforward, but for merchandise, you have more options to consider. There are several categories to choose from, including home decor, bags and luggage, cookware, bed and bath, and small appliances.
Some of these categories have thousands of options, so you can find something that suits your needs. If you find an item cheaper elsewhere, you can redeem your Wells Fargo Rewards to your account and use the balance to fund the purchase from the cheaper retailer.
Here are some examples of categories where you can redeem your Wells Fargo Rewards:
- Home decor
- Bags and luggage
- Cookware
- Bed and bath
- Small appliances
Transferring to a Bank Account
You can transfer your Wells Fargo Rewards to a bank account in a few ways. To do this, simply call 877-517-1358 or log in to your online account and request the redemption.
The redemption process allows you to receive credits to a Wells Fargo banking account. This is a convenient option if you want to use your rewards towards your own banking needs.
You can also use your rewards to make a statement credit towards the principal balances of credit card, loan, or mortgage accounts. This is a great way to pay down your debt or make a payment on a loan.
To transfer your rewards to a bank account, you'll need to follow the redemption process through your online account or by calling the number above.
Active Card: Basics
The Active Cash Card from Wells Fargo is a great option for those looking for a cash-back card with no annual fee. This card offers a sign-up bonus of $200 after spending $500 in purchases in the first 3 months.
The rewards on this card are pretty straightforward: you earn an unlimited 2% cash rewards on purchases. This means that every dollar you spend will give you 2 cents back in rewards.
One of the most attractive features of this card is its 0% intro APR on Purchases for 12 months and 0% intro APR on Balance Transfers 12 months from account opening on qualifying balance transfers. This can be a huge help if you're planning a large purchase or need to transfer some debt.
After the introductory period ends, the ongoing APR will be 19.24%, 24.24%, or 29.24% Variable APR, depending on your creditworthiness.
If you need to make a balance transfer, you can do so within 120 days from account opening to qualify for the introductory APR. However, be aware that a balance-transfer fee applies: either $5 or 3% of each balance transfer, whichever is greater, for 120 days from account opening.
You'll also want to know about the foreign transaction fee, which is 3%. This means that if you use your card abroad, you'll be charged an extra 3% on top of the purchase price.
Here are some additional benefits you'll get with the Active Cash Card:
- Cell phone protection when customers pay their monthly cell phone bill with their Active Cash Card.
- Access to Visa Concierge and Visa Signature Luxury Hotel Collection.
Jam Escape Card
The Wells Fargo Cash Back Collegeā Card can be a lifesaver in an emergency, offering a 0% APR on purchases for the first six months after account opening.
This introductory rate can give you some breathing room to pay off your balance without incurring interest charges. Just be aware that you'll still need to make payments to avoid accumulating debt.
The 0% APR on balance transfers made within 120 days of account opening is another helpful feature, but be cautious of the intro balance transfer fee of 3% (minimum $5). It's essential to pay off your balance quickly to avoid the variable APR that kicks in after the introductory rate ends.
After the introductory period, you'll be charged a variable APR between 11.15% and 21.15%, depending on your creditworthiness, so make sure to pay off your balance as soon as possible.
Frequently Asked Questions
How hard is it to get a Wells Fargo Active Cash Card?
Getting a Wells Fargo Active Cash Card requires a good to excellent credit score, typically 670 or higher. Approval chances are higher with a strong credit history.
Sources
- https://www.wellsfargo.com/help/credit-cards/
- https://www.forbes.com/advisor/credit-cards/wells-fargo-rewards/
- https://www.creditkarma.com/credit-cards/i/wells-fargo-student-credit-card
- https://www.nerdwallet.com/reviews/credit-cards/wells-fargo-active-cash
- https://joinjuno.com/financial-literacy/student-loans/wells-fargo-cash-back-college-card-review
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