Wells Fargo Secured Credit Card

Wells Fargo Secured Credit Card Review

This is a secured credit card card issued by Wells Fargo Bank. If you're wondering whether Wells Fargo credit card is the right card for you, read on.

Key Takeaways

• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 18 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 18 months.
• Competitive APRs. Wells Fargo Secured Credit Card has a variable purchase APR that ranges from 16.49% up to 24.49%.
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• 5% Balance transfer fee. Wells Fargo Secured Credit Card charges a fee of 5% on balance transfers. For example, a balance of $1,000 could cost $50 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Accepts cosigners. Wells Fargo Bank is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
• Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, identity theft protection, travel assistance, and fraud protection.
• Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have relatively good approval odds.

Pros & Cons of Wells Fargo credit card

Wells Fargo credit card FAQ

Does Wells Fargo credit card have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Wells Fargo credit card benefits?

It provides the following benefits:

• Auto Rental Collision Damage Waiver
• Emergency Support
• Zero fraud liability
• Cell Phone Protection
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Wells Fargo credit card?

Wells Fargo Secured Credit Card has a variable purchase APR that ranges from 16.49% up to 24.49%. The card has a variable balance transfer APR that ranges from 16.49% up to 24.49%. It also has a variable cash advance APR that ranges from 23.99% up to 25.99%.

What are the fees for Wells Fargo credit card?

The following fees apply:

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.

Does Wells Fargo Secured Credit Card report your account activity to credit bureaus?

Yes, Wells Fargo Secured Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Wells Fargo credit card

• Visit the Wells Fargo credit card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.