Wells Fargo Secured Credit Card vs. OpenSky® Secured Visa® Credit Card

Are you looking for a secured card with a high credit limit or no credit check?

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Our pick: OpenSky® Secured Visa® Credit Card

  • Build your credit with our monthly reporting to all three credit bureaus
  • Control your finances, start with a security deposit and credit line as low as $200
  • Apply in less than 5 minutes, no credit check necessary
  • Avoid paying interest, no interest charged on new purchases if the balance is paid in full by the due date each month
  • Extra credit when you need it, increase your credit line up to $5000*
  • *subject to approval
  • Easy funding options, with four ways to fund and no checking account needed
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The Wells Fargo Secured Credit Card and the OpenSky® Secured Visa® Credit Card are both middle-of-the-road cards suitable for someone trying to establish or rebuild their credit. The main difference is that Wells Fargo Secured Credit Card comes with a higher credit limit and a cheaper annual fee, but the OpenSky® Secured Visa® Credit Card boasts availability for people who have no credit history whatsoever.

Wells Fargo Secured Credit Card

Wells Fargo Secured Credit Card

OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card

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3.8 / 5.0
Best for
Best for
  • Low annual fee for credit-building card
  • No credit check or credit history required
Welcome offer
Welcome offer






Purchase APR (annual percentage rate)
Purchase APR (annual percentage rate)

20.74% variable

19.14% variable

Annual fee
Annual fee $25 $35
Balance transfers
Balance transfers

APR: 20.74% variable

Fee: $5 or 5% of the transaction, whichever is greater


Cash advance
Cash advance

APR: 25.74% variable

Fee: $10 or 5% of the transaction, whichever is greater

APR: 19.14% variable

Fee: $6 or 5% of the transaction, whichever is greater

Foreign transaction fee
Foreign transaction fee 3% of each transaction or $3, whichever is greater 3% of each transaction
Late payment fee
Late payment fee $37 Up to $38
Additional cardholder fee
Additional cardholder fee $0 $0
Interest-free period
Interest-free period 25 days 25 days
Minimum interest
Minimum interest $1 $1
Minimum credit score
Minimum credit score 300 300
Card type
Card type Credit Credit
Rates and Fees
Rates and Fees Rates & Fees Rates & Fees
Learn more
Learn more

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Which card should you choose?

Wells Fargo Secured Credit Card

Wells Fargo Secured Credit Card

  • Build credit with reporting to credit bureaus
  • Upgrade to an unsecured Wells Fargo card with responsible card use
  • US residency not required
  • $10,000 credit limit

The Wells Fargo Secured Credit Card's annual fee is $25 — cheaper than many other secured credit cards on the market. For approval, you'll need to front a $300 minimum security deposit. And if you're looking for a card to build credit, you'll be happy to know that the bank reports your Wells Fargo Secured Credit Card activity to the three major credit bureaus.

OpenSky® Secured Visa® Credit Card

OpenSky® Secured Visa® Credit Card

  • Rebuild credit
  • Easy application
  • No credit history required

The OpenSky® Secured Visa® Credit Card is a contender if you've never had any form of credit in the past. Compared with the Wells Fargo Secured Credit Card, this card offers a lower 19.14% variable APR and requires a lower minimum security deposit of $200. And you can easily fund your deposit with a debit card, wire transfer or money order.

How do I choose the right card for me?

A good place to start is to look at your credit history. If you have no credit history whatsoever, the OpenSky® Secured Visa® Credit Card is probably your best bet, at least for accessibility.

If you have a past credit history and want to upgrade your card in the future, the Wells Fargo Secured Credit Card makes a good choice. In time, you can increase your credit limit and upgrade to a secured card directly through Wells Fargo. This card is also great if you’re not a US citizen.

Without rewards to worry about, both cards are solid choices for helping rebuild your credit. And since you should be paying off your statement balance in full each month, the APR difference between the two shouldn’t prove a huge deal.

Compare secured credit cards

Here are a few more secured credit cards to give you an idea of your full range of options.

Name Product Filter values Purchase APR Annual fee Recommended minimum credit score
26.49% variable
Get access to a higher credit line after making your first 5 monthly payments on time.
19.14% variable
A secured Visa® credit card that helps you build your credit quickly.
9.99% fixed
This secured card can help you rebuild your credit with an initial deposit of $200 to $1,000.
13.99% fixed
Open a personal savings deposit account to secure a credit line from $200 to $5,000.
29.99% variable
$125 intro annual fee for the first year ($96 thereafter)
Designed for people with less than perfect credit. If you make on-time minimum payments and maintain your balances under the credit limits, you may be able to build, rebuild, or reestablish your credit.

Compare up to 4 providers

Bottom line

In the end, both cards offer a solid opportunity to rebuild your credit, with the main determining factor on which is best for you laying with your credit history. But if you’re not too crazy about either card, compare the features of other secured cards until you find the one that’s right for your needs. Learn more about secured cards in our comprehensive guide.

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