Sign up today for the Wells Fargo Secured Visa® if you’re looking to build credit. You’ll be able to use this card anywhere Visa is accepted. With this card, you’ll provide a security deposit which will be your credit limit (the amount you can charge). There is a required minimum $300 security deposit. Keep in mind that this is not a debit or a prepaid card. Your secured credit card activity is shared with major credit bureaus to help build your credit history. With responsible use over time, you may be eligible for an upgrade to an unsecured credit card. You’ll also be responsible for making at least the minimum monthly payment, on time. Payments are not deducted from your security deposit. Currently, there is a a variable 18.99% APR on purchases. There is also a $25 annual fee but if you’re looking to get on the path to good credit, this card is still worth considering. If you’re interested, read on!
Wells Fargo Secured Visa Summary:
- Best Feature: Build good credit
- Annual Fee: $25
- Expiration Date: None
- Additional Advice: Cardholders have access to free online credit education courses and tips to help you manage credit wisely
Wells Fargo Secured Visa Features:
- $25 annual fee
- Currently, a variable 18.99% APR on purchases. (These APRs do not apply to cash advances.)
- Use your Wells Fargo Secured Visa Credit Card anywhere Visa is accepted
- Requires a minimum $300 security deposit (maximum $10,000)
- Available to both U.S. and temporary residents
- This is not a debit or a prepaid card. Your secured credit card activity is shared with major credit bureaus to help build your credit history
- With responsible use over time, you may be eligible for an upgrade to an unsecured credit card
- You are responsible for making at least the minimum monthly payment, on time. Payments are not deducted from your security deposit.
- Currently, a variable 18.99% APR on purchases. (These APRs do not apply to cash advances.)
- Auto rental collision damage waiver
- Emergency card replacement
- Roadside dispatch
- Travel and emergency assistance services
Conclusion:
The Wells Fargo Secured Visa® is a great option for those seeking to build credit. This is not a debit or a prepaid card but with responsible use over time, you may be eligible for an upgrade to an unsecured credit card. The security deposit your provide will be your credit limit. The minimum deposit must be at least $300, or up to $10,000. You will be responsible for making at least the minimum monthly payment, on time. Additional card features include a variable APR on purchases, currently 18.99%. Be sure to take advantage of other card benefits such as auto rental collision damage waiver, roadside dispatch, and emergency card replacement. This card would be great for those looking to build credit. Keep in mind that Wells Fargo reviews Secured Credit Card accounts for upgrades periodically. If you are upgraded to an unsecured credit card, Wells Fargo will refund your security deposit. If this is something you’re interested in, sign up today. There is a $25 annual fee. Otherwise, find out which card is right for you by checking out our complete list of Credit Card Promotions today!
The information for the Wells Fargo Secured Visa has been collected independently by BankCheckingSavings. The card details on this page have not been reviewed or provided by the card issuer.