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Wells Fargo Secured Credit Card

in Personal Credit Cards

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Wells Fargo Secured Credit Card

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in Personal Credit Cards

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Overview

Who is this credit card designed for?

Wells Fargo Secured Credit Card is a secured credit card issued by Wells Fargo Bank, which is based in San Francisco, CA.  Secured cards are a type of credit card that is backed by a secured payment, which is used as collateral. These cards are often used by borrowers with poor credit or little credit history to help build their credit.

Wells Fargo Secured Credit Card is designed for people with a credit score of 300 to 850. This card supports balance transfers, which is an attractive feature if you have credit card debt and would like to transfer it to a card with a lower APR.

This card has a credit limit of Equal to Initial Security Deposit of $300 - $10,000.

What are the relevant APRs?

Wells Fargo Secured Credit Card has a variable purchase APR of 20.49%. Balance transfer APRs start at 20.49%. It also has a variable cash advance APR of 25.49%

Is an introductory APR offer available?

No, Wells Fargo Secured Credit Card does not come with an introductory APR offer.

What are the fees?

The following fees apply to Wells Fargo Secured Credit Card:

  • An annual fee of $25. Make sure the rewards and benefits of this card justify the cost of the annual fee.
  • A late payment penalty of $37.
  • A returned payment fee of $37.
  • A foreign transaction fee of 3%. Transactions in a foreign currency get hit with a 3% fee. For example, if you buy a $1,000 flight in euros, you will pay a foreign transaction fee of $30.

Is a rewards program offered?

No, Wells Fargo Secured Credit Card does not offer a rewards program.

Is a signup bonus offered?

Wells Fargo Secured Credit Card doesn't offer a cash signup bonus.

Is an annual loyalty bonus offered?

Wells Fargo Secured Credit Card doesn't offer a cash loyalty bonus.

What additional benefits are offered?

 Wells Fargo Secured Credit Card provides the following benefits:

  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Fraud Liability
  • Travel Accident Insurance
  • Cellular Telephone Protection
  • Travel Assistance
  • Reports to the major three credit bureaus

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

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

  • Equifax
  • Experian
  • Transunion

Making regular and on-time payments on a credit card that reports your account activity to credit bureaus will demonstrate that you consistently manage debt well and can help increase your credit scores.

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Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
25
Returned Payment Fee
$37
Late Payment Penalty
$37
Minimum Interest Charge
$1
Annual Fee
$25
Foreign Currency Transaction Fee
3%
Bank Account Required?
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Credit Score Range
300 - 850
850 300
Minimum Age
18
Co-signing Allowed
Customer Type
Personal
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Card Type
  • Bad Credit
  • Balance Transfer
  • Secured
Card Network
  • Visa
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Cellular Telephone Protection
  • Emergency Support
  • Fraud Liability
  • ID Theft Protection
  • Travel Accident Insurance
  • Travel Assistance
Car Rental Insurance
Fraud Liability
Travel Insurance
Emergency Support
Cash Advance APR
(Variable APR)
Starting at
25.49%
Purchases APR
(Variable APR)
Starting at
20.49%
Balance Computation
Average daily balance (including new purchases)
Credit Limit
Equal to Initial Security Deposit of $300 - $10,000
Balance Transfer APR
(Variable APR)
Starting at
20.49%
Transfer Fee
5%
Transfer Fee Minimum
$5
Transfer Fee
up to 5%

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Purchases APR
(Variable APR)
14.49% - 26.49% 0% 29% Variable APR
Balance Transfer APR
(Variable APR)
14.49% - 26.49% 8% 29% Variable APR
Annual Fee $0 Annual Fee
Credit Score Range 700 - 850 300 850