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Wells Fargo® Secured Credit Card

wells fargo secured credit card
Required Credit Score:
Minimum. Security Deposit:
911 reviews   Write a Review
Info about the Wells Fargo® Secured Credit Card has been collected by CardHub to help consumers better compare credit cards. The card issuer did not provide the details.
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Wells Fargo® Secured Credit Card’s Key APRs & Fees

  • ANNUAL FEE $25
  • REGULAR RATE 19.24% (V)
  • GRACE PERIOD 25 days

Wells Fargo® Secured Credit Card’s Highlights

  • Deposit an amount, from $300 to $10,000 into a Collateral Account. Your credit card limit equals the amount of money in your Collateral Account.
  • Your purchases are billed to you each month and you are responsible for making at least the minimum monthly payment. Payments are not deducted from your Collateral Account.
  • As a cardholder, your account performance is reported to major credit bureaus
  • Stay on top of your account activity with free email alerts when you approach your credit limit, a payment is due, and more.
  • Easily track your expenses. My Spending Report with Budget Watch has built-in tools that help you see where your money is going and easily set up a budget.
  • Visa benefits: Auto rental collision damage waiver, Emergency card replacement, Roadside dispatch and Travel and emergency assistance services.
  • Verified by Visa: Protect your Wells Fargo Visa card with a unique password for online shopping.
  • Secured Card accounts are reviewed periodically and may become eligible for an unsecured credit card and have the Collateral Account funds refunded.
  • Zero Liability Program: automatically protects you from liability for unauthorized transactions when you report them promptly
  • Overdraft protection: You may link your credit card to your checking account to help avoid overdrafts
  • All Secured cardholders have access to free online credit education courses and tips to help you manage credit wisely

Wells Fargo® Secured Credit Card’s Additional Info

  • MAX LATE FEE   $37
  • SMART CHIP   Yes, chip-and-PIN
    24.24% (V)
    5% (min $10)
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at Wells Fargo’s
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Customer Questions and Answers

Don't see what you're looking for? Submit your question about Wells Fargo® Secured Credit Card to our community.

I have a credit score of 573. Can I get approval?

Photo of Card H.
Nov 20, 2015
Yes, you should be able to as long as you have the $300 required for the deposit. Secured credit cards tend to have relatively lenient approval requirements because the deposit serves as your credit line, thus preventing you from spending more than you can afford to repay and minimizing risk from the issuer’s perspective. That’s why a secured card is the best tool for rebuilding from bad credit.

You can learn more about secured credit cards here: . Also, if haven’t settled on this offer, you may want to consider the Harley-Davidson Secured Card, as it does not charge an annual fee ( ). more
17 Votes 21 4

How long does it take to receive my secure card once the bank takes $300 out of my account?

Photo of Card H.
Mar 15, 2016
You will receive your Wells Fargo Secured Card in the mail within 10 days of account opening. Good luck!
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13 Votes 18 5

I transferred $300 to my credit card account to make it $600. I would like to know if this would affect my credit in any way.

Photo of Card H.
Mar 19, 2016
An increased credit line could improve your credit utilization (i.e. how much of your available credit you use on a monthly basis). This is an important part of improving your credit score, which you can learn more about here: .

You can also see exactly how your credit score reacts to the change by signing up for our sister site WalletHub: . Your free account provides daily credit score updates, access to your full credit report (also updated daily), 24/7 credit monitoring and personalized credit-improvement advice. Hope this helps. Best of luck!
11 Votes 13 2
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Customer Reviews

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3.1 out of 5

911 reviews
Photo of Card H.
May 2, 2016
The Wells Fargo Secured Credit Card is a low-cost means by which to build or rebuild your credit standing that certainly deserves consideration, if not an application. It charges an annual fee of just $25, which is below the $32 average for secured cards, and provides a pretty cool feature in cell phone insurance. Plus, like all credit cards, it reports account information to the major credit bureaus on a monthly basis.

As long as you pay your bill on time (and hopefully in full) each month, positive information will flow into your credit report, effectively devaluing any past transgressions that may currently reside there or helping you establish a credit more
Photo of Kim H.
Jun 28, 2016
Been with them over 2 1/2 years. Charged $25 Annual Fee THREE TIMES ALREADY! I still have not been converted to a regular card AND they still have my $300 secured deposit.

I got a Capital One UNSECURED card with $300 to start. In SIX months they increased my limit to $3,300.

Do yourself a favor and go with Capital One.

I have been paying my bill IN FULL, ON TIME, EVERY MONTH on both cards.

It should not have to take Wells Fargo this long to convert me. And I have called several times. Went into the bank several times. And every time they tell me it is an automatic process more
Photo of Hector F.
Apr 11, 2016
Stay away from wells fargo credit card very bad experience they charge me late fee on financial monthly payments even I send check on time.
Very disappointed I will never use a credit card or finacial offer from them.. customer service so rude and unprofessional.
Photo of thousandarms97
Feb 24, 2016
I got the card because I never had a credit card before and needed a secured credit card to build my credit score. The $25 annual fee is an outrage though. I would lower the annual fee or do away with it entirely if possible. I would recommend this credit card only to those who are just starting out and need to get a secured credit card to build up your credit score. You need to have a minimum security deposit of $300 for this credit card, and that will serve as your credit limit. Personally, I would recommend looking for the lowest annual fee if you are looking for more
Photo of Forappsonly N.
Feb 21, 2016
What im a bit lost on in a VAST majority of these reviews is that most people are refusing to come to the realization that this card is for people with BAD credit scores. Its for people who CANT get unsecured cards..yet. You are paying an annual fee and high interest because you are paying for your bad credit <just like me>. They are giving you a way to increase your score over time. this is your so called "last ditch effort" to show future creditors that you can be responsible enough to get credit for that $30,000 car or that $250,000 home. I personally feel the interest rate and more
Photo of Erica S.
Oct 28, 2015
This card has a very low anual fee and is a decent card for those who have had credit problems in the past and are trying to rebuild their credit. I have had good experiences so far with contacting their customer service though I have not had to do this much. I always pay my balance off at the end of each billing cycle and I am very careful with my spending on this card. It would be very easy to wreck my credit even further if I'm not careful. Wells fargo is also a very good bank and I had an account with them for many years without ever more
Photo of Eric A.
Oct 10, 2015
They play games with getting you your deposit back after you close the card. They tell you that it takes 45 to 60 days. I had not used my card once in the month prior to closing it and have no pending charges whatsoever. There is no reason that they need to sit on your money that long after you close it. They just take advantage of the situation.
Photo of Sai M.
Sep 16, 2015
This secure card is so stupid, I opened for about 9 months and never unsecured me. Many different credit card companies offered me actual credit cards and, I opened many actual credit cards. Now my credit score become 700. But they never unsecured me. Now I call them to close the account, they close my account. But they hold my money for another 60 days. They will use my money $500 for another 2 months after account closed; I do not get any interest. Very bad cheating people. They do not want to refund you easy.
When you close the account, they hold your money for another 60 days for nothing. more
Photo of Aoron W.
May 12, 2016
How long did it take you to recieve your card to begin with? After opening acnt?
Photo of Hy M.
Sep 16, 2015
We have a Wells Fargo account for my wife's business. Since we never spend more than we have in the account the Wells Fargo® Secured Credit Card is pointless. Why pay fees and a high interest rate on essentially what is a debit card. So we just use the visa debit card that comes with her checking account.
Photo of Jonathan D.
Jun 10, 2015
I have had several credit cards over my life and I would not consider this one very good. Not only is the interest rate high there are annual fees as well. The grace period is a nice feature but overall there are better credit cards out there
Photo of Michael F.
May 8, 2015
I looked into this credit card while researching the Capital one secured credit card and I definitely prefer Wells Fargo. Its annual fee is only $25 which is a little lower than Capital One's $29 annual fee. The APR for Wells Fargo's card is very competitive at 18.99% which beats Capital One's 24.9%. As a bonus, you are also given access to free online credit education courses to help you manage your credit. The only complaint I have is that, at $300, the security deposit is a bit steep. However, given the rest of the Wells Fargo secured credit card features, I feel that it's a great card overall for more
Photo of Max J.
Apr 23, 2015
I wasn't a big fan of the Wells Fargo Secured Credit Card. It's like prepaid cards in that you have to load it your own money to use as a credit line but it comes with an annual fee and you still have interest charged to it. It is a tradeoff though. With this you do get some standard card benefits like roadside assistance and the like but it still feels weird to me to get interest and annual fees when you have to put your own money up.

If you're looking to build your credit and don't have much of a history, I would recommend one of the prepaid cards more
Photo of Katy A.
Apr 6, 2015
I have been researching options to help me rebuild my credit and the Well Fargo Card does not seem to be the best option. The variable interest fee of 18.99% and the deposit amount of $300 is higher than other secured card options available such as the Open Sky Visa, which has a variable interest fee of 17.5% with a minimum $200 deposit required. The Wells Fargo Card does however, offer smart chip technology, offering extra security against fraudulent usage, whereas the Open Sky Visa doesn't. Before applying for a secure credit card, I would recommend doing some research to view the many options out there and choosing the one more
Photo of Wendy S.
Apr 12, 2016
Open Sky is for people who may or may not have current Checking Accounts or Savings accounts. I am looking for a good credit-building card and although I understand the high-deposit issues with the Wells Fargo card, I have been a Wells Fargo Checking Account Customer since 2004 and have "Platinum Status" on my Debit Cards (I have 3 Debit Accounts and 1 IRA Account currently). So what I'm saying is were you already a Wells Fargo customer/did you have an active Checking Account when you applied for the Wells Fargo Secured Card? And if so...did you find that being a current/longstanding customer with Wells Fargo was helpful or not more
Photo of Shayna A.
Mar 20, 2015
For someone just starting out or trying to rebuild credit the Wells Fargo Secured Credit Card seems like a good option.

A big plus is the annual fee is only $25. That's cheaper than a lot of unsecured credit cards. The regular APR is 18.99% which is high but if you don't plan to carry a balance you don't need to worry about it.

I like the fact that it has built in budgeting tools as that can be challenging when dealing with credit cards.

For comparison sakes I also looked at the Capitol One secured card. That card has a 22.9% APR and a $29 annual fee. Both cards offer travel more
Photo of Beth C.
Mar 5, 2015
One of the nicest options for this card is that they offer free educational classes about credit and how to increase their credit. This is a great addition for those who use this card, because this card is designed for those who have had bad credit in the past and need an option. I also like that this has the pin and chip in it, as that is the more secure option for credit cards. The APR rate is also comparable to other credit cards out there.
Photo of John S.
Feb 18, 2015
This is a good card to issue to some one like a teenager or college student. I deposited half my savings in the collateral account and then was able to pay off my balances from the earnings from my part time job. The Wells Fargo Secured Visa was a good way to learn about credit cards and how they work with out risking too much debt, since the credit limit was tied directly to the amount of money I was able to cover.
Photo of Drew G.
Feb 8, 2015
One of the best features of the Wells Fargo Secured Card, and one that's unique to this card alone (as far as I know) is: if you use it to pay your cell phone bill each month (to whichever carrier you use) , they'll cover your cellphone against loss or damage up to $600.00 with only a $25.00 deductible fee. That's a really sweet deal. I was paying $10.00 a month for insurance thru Verizon for each of my cell phones and they had a $100.00 (Android Note 3) to $250.00 (IPhone 6S) deductible.This feature alone makes this one of the best secured cards available.
Photo of Colin S.
Jan 8, 2015
Overall this seems like a fairly good credit card, I do however have some complaints. The initial deposit is a bit high for my taste, perhaps this be be brought down to a more reasonable number. I also have some concerns regarding the reporting of various statistics, assuming of course that these are not used as advertising fodder I would be fine with it but too often is this information misused. Additional clarity on this matter would be welcome. Now as far as the positives go the annual fee seems very reasonable as well as the grace period. The lack of one time fees is also nice and is a more
Photo of Terrance M.
Jan 5, 2015
The Wells Fargo Secured Credit Card has been pretty good for me! Remember, this card is for people that have bad credit and can't get a regular card. I made some bad financial decisions in the past that are costing me now. This card is a great way for someone with bad to fair credit improve their credit score because it requires you to have a deposit. Add that to the fact that there aren't overdraft fees and the like, and you have what amounts to a very solid credit card. After your credit rating goes up, then you can go for the better option cards. But for what it more
Photo of Melody B.
Dec 1, 2014
The Wells Fargo Secured credit card doesn't seem like the best option out there. When my husband and I first started building credit we used Discover. The rates on the Wells Fargo card are high. There is an annual fee which you could always try to avoid. I have used several different credit cards. Some credit cards will offer rewards, which should not be why you pick a card but it is nice to have. There are some good things about this card. The collateral account is good for people who want to be smart about it and increase their credit score. Overall this card seems to be an okay more
Photo of DeVaughn T.
Oct 15, 2014
Like most credit cards this one is high risk and medium reward. I think It's perfect for responsible people that are looking to increase their credit score. Although I'm not to fond of the annual fee or the fact I can't pay bills with what I put into the account. It's not the worse credit card I've seen but there are better ones to apply for.
Photo of Walter P.
Oct 15, 2014
I like the fact that the Wells Fargo Secured Credit Card requires collateral to establish a credit limit. I think this promotes good credit-building skills and responsibility. When I was young I had an unsecured credit card through Capital One, and the "something for nothing" model promoted too much extra spending. I like the idea of sacrifice in exchange for credit.
Photo of Leo A.
Oct 3, 2014
No, no, There are other options for secure cards with better rates.
Photo of Chris K.
Sep 30, 2014
The Wells Fargo Secured Credit Card has been amazing for me! It is a great way for someone with bad to fair credit improve their credit score because it requires you to open a collateral account, which they double to create your credit limit. Add that to the fact that there aren't overdraft fees and the like, and you have what amounts to a very solid credit card. Similar options by other banks will typically have not only higher APRs but also higher cash advance fees and rates as well. And if you ever run into any issues, Wells Fargo has branches literally all over the country so an associate more
Photo of Cory W.
Sep 5, 2014
This is a card where the limit is equal to the amount of collateral, and yet they charge $25 in annual fees, plus interest. My sister got this card and when I told her she should cancel it because it was a terrible deal, they tell her it will take 45-60 days to refund the money that she put up as collateral. They were able to get that money out of her account the *same day* the card was opened, but can't refund it for two months? That's even more absurd.
Photo of Heather H.
Aug 18, 2014
What I do not like about this card is the high interest rate. I currently hold the Discover card and that interest rate is a bit higher but I do get cash back rewards. I also have the Alaska Airlines card and it has a much more affordable rate and I get free flights with my miles quickly. I think the Wells Fargo card would be a great card if you are not planning on using it much if you wanted to connect it to your Wells Fargo account to have the overdraft protection. The annual feel is reasonable. The cash advance fee is 23.99%! That is outrageous. For people more
Photo of Blythe P.
Aug 5, 2014
I think this is a great card for new credit card holders! To put in and only use what you put in is an easy way to learn how to properly use credit. If I had this option when I was younger it would have helped me a great deal. The annual fee is on par with my current credit card the Amazon Visa and I think would give credibility to the actual experience of charges and fees most credit cards have. Given the chance to use only what is available and nothing more could lead to a better economy, in my opinion.
Photo of Jesse S.
Jul 30, 2014
I opened up a secured card with a $300 deposit. I have found that it has been a great way for me to build my credit score. You need to be very careful about paying off the card so you don't get hit by the large interest rate. One problem I've encountered is that it takes a week to receive your $300 deposit back if you try and close the account. It also will turn-over into a credit card after 12 months.
Photo of Abraham B.
Jan 7, 2015
Are you still using it?
Photo of Kate M.
Jul 16, 2014
I like that it's a credit card for people with bad credit scores. I don't like that you have to deposit money into a collateral account.
Photo of David D.
Jun 30, 2014
On the up side, the card can improve your credit score. The downside proves why people find their credit score tumbling. With a high interest rate against your own money and not to mention the fact that if you take a cash advance on your OWN money which has secured the card, a fee of $20.00 is assessed for any transaction up to $100.00. After that it is 5%. So, it's up to you but I'd be very very careful especially when considering a cash advance or transfer of funds to your checking account. Transfers are also considered cash advance. It's typical of banks but I don't like the way more
Photo of Kathy H.
Jun 24, 2014
As far as secured credit cards go, Wells Fargo Secured Credit Card looks pretty appealing. The minimum deposit is only $300, while other secured cards require more than this to open an account. I like that they do report to credit bureaus so that folks with bad or no credit can obtain a credit rating. And a positive credit rating by paying this bill on time.
Photo of Early N.
May 29, 2014
I usually do not enjoy using cards that have an annual fee. Especially when there are no bonuses and the fees are high. However, the required credit score is "bad", this means you can use this card to help your credit score go higher! I highly recommend it for a person that has made mistakes in the past and has ruined their score. Be careful, the rate is a little high though.
Photo of Theo K.
May 19, 2014
This is a good option for someone with bad credit or no credit who is trying to build credit. For me, i'd prefer something like the capital one venture card which is unsecured since I have good credit.
Photo of Larry D.
May 5, 2014
This Wells Fargo Secured Credit Card is a good option for people with bad credit to restore their credit rating. Going beyond a typical pre-paid card, it actually reports to all of the major bureaus on your payment history, which is a big plus for anyone who pays their bills on time. However, if you have a strong enough credit score to get a traditional unsecured credit card, this would be a terrible way to go. You are basically paying a high interest rate (19%) on your own money, as opposed to paying an interest rate on someone else’s money (typical credit card). The annual fee and absence of other more
Photo of Jennifer N.
Apr 28, 2014
A year or so ago I had very very bad credit. I really wanted to get a credit card because I wanted to improve my credit plus have a back up amount of money in case of emergencies. I was getting secured credit card offers like this one but I didn't have the money to put a deposit down. I ended up being able to apply for regular Capital One credit card. It had an interest rate of 23% but no annual fee and no deposit required. I was able to start fixing my credit with this card. I think this Wells Fargo secured card is decent but not good more
Photo of Brandon P.
Apr 17, 2014
I enjoy my Wells fargo card because getting paid bi-weekly it gives me a back up on the week that I do not receive my check. It also makes me secure knowing I have the money if needed.
Photo of Heather P.
Apr 2, 2014
A few years back I got in a financial pinch and was late on several items. It was hard to rebuild my credit and get a card. I applied for a Wells Fargo Secured Credit Card. To my surprise I was approved. I had to put a deposit of $300 down. I found that the interest rate was very competitive compared to other cards. After several months of on time payments, I was able to turn my account into an unsecured card. They also reported positive to the credit bureaus and helped me rebuild my credit.
Photo of Lucien A.
Apr 7, 2014
Hello Heather, How did you proceed to be refunded? In my case one year later my $ 500.00 secured deposit is not yet refunded.
Photo of Rusty S.
Mar 13, 2014
In today's world it is extremely difficult to get any kind of credit line without a credit history. It's a bit of a catch-22, and things aren't like they used to be where you could use your utilities' history of payment or anything like that as proof you are a good risk, so a card like this has a lot of benefit for someone like me. $300.00 is a good price for a secured credit line and I especially like the feature that it can easily transition into an unsecured card once you have built the history, so instead of just randomly applying for other cards, the one you have more
Photo of E.j. V.
Mar 13, 2014
The Wells Fargo Secured Credit Card appears to be a financial tool to assist individuals with bad credit to eventually re-build credit history, by utilizing a secured credit card. The interest rate seems high, however, I understand that a bad credit rating typically results in higher rates. It makes sense that the credit limit for this card is directly connected with the amount of the security deposit given. However, I feel that it should be disclosed that Wells Fargo is basically receiving an interest free loan from this type of cardholder, in addition to collecting interest on any unpaid balance. I also think that if Wells Fargo is truly interested more
Photo of Kylee T.
Mar 7, 2014
The Wells Fargo Secured Credit Card is obviously a card for people who have bad or no credit. The nice thing is that you only have to put a $300 security deposit down, and you don't have to have good credit to use it. The fact that there is a 25 day grace period and a maximum $35 late fee is nice too. The benefits of the auto rental collision damage waiver, roadside dispatch and travel and emergency assistance services are nice perks also. The interest rate is not superb, and the fact that there is no 0% offer for a limited number of months is also disappointing, but I more
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Last updated on: Sep 23rd, 2016 at 5:11 EDT

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