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. Wells Fargo Bank is one of the few credit card issuers that allows applicants to include a cosigner, which improves the approval chances of people with not-so-great credit.
What are the relevant APRs?
Wells Fargo Secured Credit Card has a variable purchase APR starting at 20.49%.
The card has a variable balance transfer APR starting at 20.49%.
It also has a variable cash advance APR starting at 25.49%.
Is an introductory APR offer available?
No, Wells Fargo Secured Credit Card does not come with an introductory APR offer for balance transfers.
Wells Fargo Secured Credit Card does not offer an introductory rate on new purchases.
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:
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:
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.
420 Montgomery Street
San Francisco, CA 94104 USA
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|Grace Period for Late Payment (Days)||25|
|Late Payment Penalty||$37|
|Returned Payment Fee||$37|
|Minimum Interest Charge||$1|
|Balance Transfer Fee %||5%|
|Balance Transfer Fee Minimum||$5|
|Foreign Currency Transaction Fee||3%|
|Credit Score Range||
300 - 850
|Immigration Status Considered||
|Bank Account Required?|
|Employment Statuses Considered||
|Supported Income Types||
|Car Rental Insurance|
|Credit Card Benefits||
|Purchase APR (Variable APR)||Starting at 20.49%|
|Cash Advance APR (Variable APR)||Starting at 25.49%|
|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%|
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