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Wells Fargo Business Secured Credit Card review

This product is temporarily unavailable until May 16, 2021. – If you’re looking to establish or rebuild your business credit score, this card may be an option.’s rating: 4.1 / 5


  • Get this card if you have little-to-no business credit history, or if you want to rebuild your business credit score.
  • Pick something else if you want higher cashback rewards on all purchases or an intro APR on purchases and balance transfers.
  • Apply even if you have poor credit history or none at all.

Up to 1.5%

Cash back


Annual fee


Purchase APR (variable)


Recommended credit score


Annual fee$0
Welcome offerN/A
Rewards1.5% cash back on all purchases
Purchase APR15.15% variable
Balance transfer APRN/A
Minimum Credit Score300

Review by

Kliment Dukovski is a credit cards and investments writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

Wells Fargo Business Secured Credit Card is aimed at businesses that have no credit history or those that want to rebuild their credit score. Since this is a secured card, you’ll need to make a deposit between $500 and $25,000 to use as a line of credit. This deposit doesn’t earn interest.

After a while, you may be able to upgrade to an unsecured card if you pay your balance in full every billing cycle. Making timely payments of the full amount also helps you build your business’s credit score. Wells Fargo doesn’t give a specific time frame for when you might be upgraded to an unsecured card, but notes that it will periodically review your account and your recent credit history to see if you qualify.

Best of 2021
Finder experts pick Wells Fargo Business Secured Credit Card as a 2021 best product for credit cards.

How to apply for the Wells Fargo Business Secured Credit Card?

  1. Go to the Wells Fargo website.
  2. Click Small Business in the top navigation bar.
  3. Hover over Loans and Credit, and then select Business Credit Cards.
  4. Scroll down to the Wells Fargo Business Secured Credit Card and click Apply Now.
  5. To apply online, you’ll need to have one applicant who is a Wells Fargo Online customer, otherwise you’ll need to make an appointment at a Wells Fargo branch.
  6. Complete the application form with all the required information on your business and the employee who will receive the card.
  7. Review your application and submit it.
    Wells Fargo Business Secured step 1

How long will it take to get my Wells Fargo Business Secured Credit Card?

Upon approval, you’ll get your Wells Fargo Business Secured Credit Card in 7 to 10 days via mail.

How much should you put down as a deposit?

If you plan to put down $25,000 as a deposit for your credit line but your monthly expenses aren’t as high as that, you may want to think again. Let’s look at what would happen if you put this amount in a high-yield savings account instead.

Take Synchrony Bank’s high-yield savings account that offers 1.65% APY. If you put $25,000 in this account instead, your money would earn $412 in a year. A great way to avoid these missed earnings is to deposit enough money on your credit card to pay for your monthly purchasing needs and then save the rest in a high-yield savings account.

The perks

  • Rewards program. When you open an account, you can enroll in the Wells Fargo Business Card Rewards® Program and select one of two bonus programs:
  • Cash back. Earn 1.5% per $1 spent on purchases.
  • Reward points. Earn 1 point on every $1 spent and receive 1,000 bonus points when your company spend is $1,000 or more in any monthly billing period.
  • Establish or rebuild your credit score. You don’t need to have a credit history to apply for the Wells Fargo Business Secured Credit Card. This will allow you to build your business credit score or to rebuild your own if you’ve had credit difficulties in the past. Keep in mind that you’ll need to deposit funds in order to use them as a credit line, and these funds don’t collect interest.

You’ll also like

  • Online banking. You can manage payments, spending, transfers and expenses through your online account.
  • Zero liability protection. This is a built-in feature to make sure you won’t be liable for any unauthorized transactions.
  • 0% foreign transaction fees. Don’t hesitate to use this card abroad, as it doesn’t have any foreign transaction fees.
  • Customize your card design. With Wells Fargo Card Design Studio®, you can design your own cards by using your company logo or a photo that promotes your business.

What to watch out for

  • No intro purchase APR. The Wells Fargo Business Secured Credit Card has no intro APR on purchases, meaning you start with an APR of 15.15% + prime rate right off the bat.
  • Most fees aren’t listed. Late payment, returned check and similar fees aren’t given outright.

Top 3 business credit cards from Wells Fargo

Compare secured business cards

Name Product Rewards Purchase APR Annual fee
Business Edition® Secured® Visa Card
Business Edition® Secured® Visa Card
20.24% variable
Request your own credit limit between $2,000 and $100,000 when you apply, subject to credit approval.
Wells Fargo Business Secured Credit Card
1.5% cash back on all purchases
15.15% variable
This product is temporarily unavailable until May 16, 2021. Earn 1.5% cash back on all purchases.

Compare up to 4 providers

What size business is the Wells Fargo Business Secured Credit Card good for?

This card is best suited for small businesses that have no credit history or for businesses that want to rebuild their credit score.

What should I know before I apply?

Since this is a secured card, you can apply for the Wells Fargo Business Secured Credit Card even if you don’t have a credit history or have a bad credit score.

You’ll have to provide information about yourself and your business when you apply, including:

  • Business name and address
  • Date when business was established
  • Federal Tax ID, also known as Employment Identification Number (EIN)
  • Ownership type
  • Number of owners
  • Annual revenue
  • Business owner’s personal information

Information that Wells Fargo will take into consideration when processing your application:

  • Credit experience and payment history
  • Cash flow and existing credit obligations
  • Current relationship with Wells Fargo

I got the card. Now what?

  • Enroll in the optional Wells Fargo Business Rewards® Program. In case you didn’t apply for the rewards program during your application process, you can do so by calling 1-800-225-5935. You can choose between earning reward points or cash back on all your purchases.
  • Use the online management tools. Once you get the card, you can sign in to your Wells Fargo Business Online account and manage your payments, spending or transactions.
  • Set up automatic payments. You can pay your credit card bill with automatic payments using Wells Fargo Business Online. Alternatively, you can enroll for the automatic payments by calling 1-800-225-5935.
  • Contact customer service. For general banking questions, you can call Wells Fargo at 1-800-225-5935. For online banking and bill payment issues, you can call customer support at 1-800-956-4442.

Best business credit cards with easy approval

Bottom line

Don’t let a lack of a business credit history or bad credit stop you from getting a business credit card. The Wells Fargo Business Secured Credit Card may be a solution to your business’s credit needs.

Before you apply, compare business credit card providers to find the best card that suits your needs.

Frequently asked questions

Does this card have a rewards program?
Yes. When you sign up for the Wells Fargo Business Card Rewards® Program, you can choose between two programs: cash back or reward points. You can either earn 1.5% cash back per $1 spent on purchases, or earn 1 reward point per $1 spent on purchases. .

How do you redeem cashback rewards?
If you select the cashback rewards program, you’ll earn 1.5% cash back for every dollar spent, and you’ll get quarterly payments as a credit to your account or to your eligible checking or savings account.

Is there an annual fee for this card?
Yes, the annual fee is $0 per card, up to 10 cards.


Credit card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

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