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Wells Fargo Secured Credit Card review

Last updated:  

Please note: This card has been discontinued, and it is not available on our site.’s rating: 3.8 / 5


Discontinued product

This card has been discontinued, and it is not available on our site. Compare other credit cards or take Finder's credit card quiz to find one that fits your needs.

The Perks

If you have poor or no credit, a secured card can boost your creditworthiness with responsible everyday spending and on-time payments. Your initial line of credit is based on your security deposit.

  • Reports to major credit bureaus. Steady reports of your on-time payments helps you improve your financial health.
  • Reasonable minimum deposit. Your $300 minimum deposit is FDIC-insured.
  • Upgrade with responsible use. Wells Fargo periodically monitors your account for an upgrade to an unsecured credit card.
  • US residency not required. Unlike many secured credit offers, this one is available to citizens, permanent residents and nonresidents of the US.

Compare the Wells Fargo Secured Credit Card to the OpenSky® Secured Visa® Credit Card

How to make the high APR worth it

The Wells Fargo Secured Credit Card is a solid way to re-establish your credit if you use it responsibly. To avoid paying the high 20.49% variable APR on your purchases, pay your monthly balance on time or within the grace period. With on-time payments, you may be able to eventually upgrade to an unsecured credit card.

What to watch out for

Because Wells Fargo reports your responsible payments to the three major credit bureaus, you can re-establish your creditworthiness. But keep a few factors in mind.

  • $25 annual fee. It’s not uncommon to pay a fee for a secured card, but you can find secured cards that don’t require an annual fee.
  • No set time for upgrade. Wells Fargo’s graduation process is murky, and some secured credit card users complain that they’ve paid their bills on time but haven’t yet been upgraded.
  • No rewards. You won’t get cash back or rewards with this card.

How to apply for the Wells Fargo Secured Credit Card

To apply for a Wells Fargo Secured Credit Card, you must:

  • Be at least 18 years old.
  • Be employed with the ability to provide proof of your income.
  • Have an existing Wells Fargo checking or savings account, if you’re applying online.
  1. Apply for the Wells Fargo Secured Credit Card by visiting Wells Fargo’s website. Look for the Build Credit option or search the site.
  2. Select the Wells Fargo Secured Credit Card option and click Apply Now.
  3. Enter your personal and financial information as requested and submit. If you don’t already have an account at Wells Fargo, you’ll need to visit the bank in person to open and link a checking or savings account to your card.

    Because Wells Fargo’s site provides conditional approval of your application, you should find out if you’re approved within minutes.

I got the card. Now what?

To improve your credit score, you’ll need to make timely monthly payments and keep track of your credit use.

  • Avoid unnecessary fees and interest. If you’re worried about paying your statement on time, consider setting up autopay through Wells Fargo’s website.
  • Build good habits. Spending smaller amounts and paying them off right away can help you establish good credit habits.
  • Graduate to an unsecured card. If you keep your credit utilization ratio low, you’ll improve your credit more quickly and effectively.
  • Contact customer service. Call 1-800-869-3557 24/7 or send a secure email from your online account. Connect on Facebook @WellsFargo or Twitter @Ask_WellsFargo.

Wells Fargo Secured Credit Card reviews and complaints.

The Wells Fargo Secured Credit Card gets mostly average online reviews. Consumer Affairs give Wells Fargo Bank 2 out of 5 stars, while TrustPilot gives the bank a rating of “bad.”

Compare secured credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
OpenSky® Secured Visa® Credit Card
Starting at $200
17.39% variable
Apply for this card with no credit check if you're new to credit or have bad credit.
Assent Platinum 0% Intro Rate Mastercard® Secured Credit Card
Starting at $200
0% intro for the first 6 months (then 12.99% variable)
A rare secured card with a 0% intro APR on purchases for 6 months, followed by 12.99% variable.
First Progress Platinum Elite MasterCard® Secured Credit Card
Starting at $200
19.99% variable
Build your credit with all three major credit bureaus.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
No credit check is required for this secured card. Make a deposit of at least $200 to open this card and get a low 9.99% fixed APR on purchases.
Self Visa® Credit Card
Starting at $100
21.74% variable
Build your credit with a low minimum security deposit of $100 and no credit score required.

Compare up to 4 providers

Bottom line

Secured credit cards are designed to help you build — or rebuild — your credit with regular reporting to the three main credit bureaus. With responsible spending, you could be upgraded to an unsecured credit card with perks or rewards for your spending.

Common questions about the Wells Fargo Secured Credit Card

Credit card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

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Expert review

Megan Horner

Review by

Megan Horner is the credit cards publisher at Finder. She's passionate about helping you find the best credit cards to meet your financial needs — whether that's earning great rewards or improving your credit score. Megan's expertise has been spotlighted on Lifehacker,, American Banker and featured on news broadcasts across the country.

Expert review

The Wells Fargo Secured Credit Card is a no-frills secured card that can help you rebuild your credit score with responsible everyday spending and on-time payments. Like similar cards, it requires a security deposit, which determines your credit limit. And it reports to all three major credit bureaus, making it a solid option for improving your creditworthiness.

To be approved for a secured credit card, Wells Fargo recommends a poor to excellent credit score of 300 or higher. You must pledge a minimum $300 security deposit for approval.

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