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Wells Fargo Secured Credit Card review

Please note: This card has been discontinued, and is unavailable 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.

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 choose 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 could find out if you’re approved within minutes.

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 US 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.

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 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.

Wells Fargo is not accredited by the Better Business Bureau, though it currents sports an not rated rating from the agency as of December 2021. The bank has 23 reviews on Trustpilot, and as of December 2021 a 1.3 out of 5 stars rating.

Many customers complain about issues with loan products and customer service. To avoid surprises, read through your card’s terms completely and ask any questions that arise.

Compare secured credit cards

1 - 3 of 10
Name Product Filter values Minimum deposit required Purchase APR Annual fee Minimum Credit Score
Capital One Platinum Secured Credit Card
$49, $99 or $200
28.49% variable
New to credit
A no-annual-fee secured card that separates itself from the pack with a $200 credit limit after making a more affordable than average deposit of $49, $99 or $200.
Capital One Quicksilver Secured Cash Rewards Credit Card
Starting at $200
28.49% variable
No annual or hidden fees, and you can earn unlimited 1.5% cash back. See if you're approved in seconds.
OpenSky® Secured Visa® Credit Card
Starting at $200
19.64% variable
Apply for this card with no credit check if you're new to credit or have bad credit.

Compare up to 4 providers

Bottom line

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

Frequently asked questions

What are the three major credit bureaus Wells Fargo report to?

Yes, Wells Fargo reports your responsible spending and on-time payments to Experian, Equifax and TransUnion.

How do I increase my credit limit?

Raise your credit limit by applying over the phone or at a Wells Fargo location. You have a solid chance of approval with a history of paying your bills on time.

How can I get a copy of my credit report?

If you’re denied credit, you’re entitled to a free credit report within 60 days of the date of your denial by contacting any of the major credit bureaus.

Credit card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

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Review by

Megan Horner is the banking and credit cards Group Publisher at Finder. She's passionate about helping you find the best credit cards and bank accounts 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. Before working at Finder, Megan worked at Credit Karma and QuinStreet.

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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