Wells Fargo Secured Credit Card

Wells Fargo Secured Credit Card details
  • Establish credit history – with responsible use you may be upgraded to an unsecured credit card
  • Get started, if approved, with as little as a $300 security deposit

Great For

  • Building credit
  • Rebuilding credit
  • Foreign nationals

Card Features

  • $25 annual fee
  • Card activity is shared with major credit bureaus to help build credit history
  • Use anywhere Visa credit cards are accepted – not a debit or prepaid card
  • Your security deposit is equal to your credit line – if you deposit $300, your credit line is $300
  • Available to both U.S. and temporary residents
  • See how the Secured Credit Card works (video)

Fees and Rates

Annual Fee

$25 
See the full Terms and Conditions.

Annual Percentage Rate (APR) on purchases

19.24%
This APR will vary with the market based on the U.S. Prime Rate.
See the full Terms and Conditions.

Annual Percentage Rate (APR) on balance transfers

19.24%
This APR will vary with the market based on the U.S. Prime Rate.
See the full Terms and Conditions.

Read the Wells Fargo Secured Visa® Card Agreement.

Credit card subject to credit qualification.

Generally, we will apply your minimum payment first to lower APR balances (such as purchases) before balances with higher APRs (such as cash advances).

Build Credit History

Things you need to know about building credit with a Wells Fargo Secured Credit Card:

  • Wells Fargo reports your payment and usage behavior to the credit bureaus – the companies that calculate your credit score.
  • Pay on time, every time. Making a late payment or missing a payment can hurt your credit score.
  • Pay more than the minimum each month. When you pay less than the balance, your balance accrues interest. That means you have to pay more to spread your payments out over time.
  • Keep your balance low, relative to your credit limit. Never exceed your credit limit.
  • Only charge what you can afford to pay back.
  • Check your credit report at least once a year.

Visit wellsfargo.com/pathtocredit to learn more about building and maintaining good credit.

See how the Secured Credit Card works (video)

Your Security Deposit

Things you need to know about the security deposit:

  • When you apply for a secured credit card, you provide a security deposit of at least $300 with the option of increasing the line in $100 increments, up to $10,000.
  • Your security deposit is equal to your credit limit. If you deposit $300, your credit line (the maximum amount you can spend) is $300.
  • Funds for your security deposit must be available to open your account.
  • These funds are set aside in a non-interest bearing collateral account until your account is upgraded or closed. See full Terms and Conditions for details.
  • Your security deposit cannot be used to pay balances or fees.
  • Call 1-800-642-4720 to add to your security deposit after account opening.

See how the Secured Card works (video)

Learn How to Upgrade to Unsecured Credit

You may become eligible for upgrade to an unsecured credit card with responsible use over time:

  • When you upgrade depends on a number of factors including how you manage this account and your other accounts. There is no pre-set time frame for upgrade.
  • Wells Fargo shares your usage activity with the credit bureaus – the companies that calculate your credit score.
  • How you manage other accounts influences upgrade timing.
  • Only U.S. citizens and permanent residents will qualify for upgrades to an unsecured credit card.

See how the Secured Card works (video)

Budgeting and Tracking Tools

Online Access. Access your account balance and transaction details, pay bills, and more from your mobile device or computer with Online Banking with Wells Fargo Online® and Mobile Banking. Once you have your username and password, you can manage your accounts with our free mobile banking app or via wf.com from your mobile browser.

Automatic Payments. This free, optional service in Online Banking helps you automatically make credit card payments by transferring funds from your checking or savings account to your Wells Fargo credit card account. To set up automatic payments sign on to Online Banking, go to Transfers and select Monthly.

Account Alerts. Stay on top of your account activity with free email or text message alerts for when you approach your credit limit, a payment is due, and more. Set up account alerts in Online Banking.

Budget Tools. Sort your monthly expenses against your budget with free access to budgeting and tracking tools: My Spending Report and Budget Watch through My Money Map. Set up budget tools in Online Banking.

Visit wellsfargo.com/pathtocredit to learn more about building and maintaining good credit.

Additional Features

Enjoy these Visa benefits with your Wells Fargo Secured Credit Card:

  • Auto rental collision damage waiver
  • Emergency card replacement
  • Roadside dispatch
  • Travel and emergency assistance services
  • Cell phone protection

Review the Visa Guide to Benefits (PDF) to learn more.

Plus:

  • Zero Liability Program to protect you from liability for unauthorized transactions when you report them promptly.
  • Overdraft Protection (optional) by linking your credit card to your checking account, finance charges apply. See the full Terms and Conditions.
  • Rapid Alerts to track purchases and receive notifications of irregular or suspicious activity.
  • Chip technology for better protection against counterfeit fraud when used at a chip-enabled terminal.
  • Verified by Visa® Protect your Wells Fargo Visa card with a unique password for online shopping.
  • Mobile payment options to make convenient on-the-go purchases with your Wells Fargo card in Android PayTM, Apple PayTM, and Samsung Pay.

FAQs

What should I expect after I apply online?

If you applied online, you will receive the status of your application on the confirmation page and we will send you a confirmation email.

If we need more time to review your application, you will receive an application ID and a phone number that you can call to check your application status.

Upon approval of your application, we’ll transfer the funds you provide into the collateral account. This can take approximately 7 – 10 days, and these funds need to be available in your account to process the transfer and open your credit card account.

You will receive your Secured Credit Card by U.S. Mail, 7-10 days after account opening.

How does a secured credit card differ from unsecured credit cards, and how is it the same?

Unlike unsecured credit cards, a secured credit card requires a minimum $300 security deposit from you to secure your credit line.

The Wells Fargo Secured Credit Card is like other credit cards because:

  • It can be used wherever Visa® credit cards are accepted
  • You must make at least the minimum payment on time each month
  • Your payment activity is reported to the credit bureaus, which helps build your credit history

Does the secured credit card look different from an unsecured Platinum Visa® Credit Card?

No, the Wells Fargo Secured Credit Card design looks exactly like the Wells Fargo Platinum Visa® Credit Card, and it can be used for purchases and payments just like any other credit card.

Why is a security deposit required?

The security deposit in your collateral account is held to secure your credit line. Funds cannot be withdrawn from the security deposit or applied as payment for balances or fees. Funds in the collateral account do not earn interest.

By borrowing against and then paying off your credit line, you can establish a history of on-time payments. This can help establish you as a responsible borrower.

Do I still need to make monthly payments, even if I already provided a Security Deposit?

Yes, you must make the payment on time each month and pay the required minimum payment. You may also pay another amount above the minimum or pay the balance in full each period.  You must keep the balance within the established credit limit. By paying at least the required minimum payment before the due date and staying within your credit limit, you show the bank and the credit bureaus that you can manage credit responsibly.  Funds cannot be withdrawn from the security deposit or applied as payment for balances or fees.

Can I become eligible for the unsecured Platinum Visa® Credit Card?

Cardholders can become eligible for an upgrade. Whether an upgrade is granted depends on a number of factors including how you manage this account and all of your other financial obligations. There is no pre-set time frame for upgrade. Wells Fargo reviews Secured Credit Card accounts for upgrade eligibility periodically. In the review, your overall performance across financial products will be considered, including your credit history and your Wells Fargo Secured Credit Card account performance.

Only U.S. citizens and permanent residents can qualify for upgrades to an unsecured credit card.

See more credit card FAQs

Terms and Conditions

Wells Fargo Secured Visa® Card Terms and Conditions

IMPORTANT DISCLOSURES

Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases
19.24%
This APR will vary with the market based on the U.S. Prime Rate.
Annual Percentage Rate (APR) for Balance Transfers
19.24%
This APR will vary with the market based on the U.S. Prime Rate.
APR for Cash Advances and Overdraft Protection Advances
24.24%
This APR will vary with the market based on the U.S. Prime Rate.
How to Avoid Paying Interest on Purchases
Your due date is at least 25 days after the close of each billing period. We will not charge you interest on purchases if you pay your entire balance by the due date each month.
Minimum Interest Charge
If you are charged interest, the charge will be no less than $1.00.
For Credit Card Tips from the Consumer Financial Protection Bureau
To learn more about factors to consider when applying for or using a credit card, visit the website of the Consumer Financial Protection Bureau at http://​www​.consumerfinance​.gov​/learnmore.
Fees
Annual Fee
$25 
Transaction Fees
• Balance Transfers
Up to 5% for each balance transfer, with a minimum of $5.
• Cash Advances
Either $10 or 5% of the amount of each advance, whichever is greater.
• Overdraft Protection Advances
$12.50 if the total of overdraft protection advances for the day is $50 or less;
$20 if the total of overdraft protection advances for the day is greater than $50.
• Foreign Currency Conversion Fee
3% of each transaction converted to U.S. dollars.
Penalty Fees
• Late payment
Up to $37
• Returned Check or Returned Payment
Up to $37

How we will calculate your balance

We use a method called "average daily balance (including new purchases)".

How we will calculate your variable APRs

  • Unless an introductory or promotional APR is in effect, we will add a “Margin” to the U.S. Prime Rate to determine your standard variable APR. For each billing period we will use the U.S. Prime Rate, or the average of the U.S. Prime Rates if there is more than one, published in the Money Rates column of The Wall Street Journal three business days prior to your billing statement closing date. If the U.S. Prime Rate is not published or is otherwise unavailable, whether temporarily or permanently, we will select a substitute index that we believe, in our sole discretion, to be similar to the U.S. Prime Rate. The U.S. Prime Rate is 3.50 percentage points as of 12/09/2016.
  • The "Margin" for purchases and balance transfers will be 15.74 percentage points.
  • The "Margin" for cash advances and overdraft protection advances will be 20.74 percentage points.

Wells Fargo reserves the right to change terms, rates (APRs) and fees, at its discretion in accordance with the Consumer Credit Card Customer Agreement and Disclosure Statement ("Agreement") for your account and applicable law. 


Application of payments

Generally, we will apply your minimum payment first to lower APR balances (such as Purchases) before balances with higher APRs (such as Cash Advances). Payments made in excess of the minimum payment will generally be applied to balances with higher APRs first before balances with lower ones.

Overdraft protection

If you choose to link your Account to your Wells Fargo Checking Account for overdraft protection, please note the following. If you have a joint checking account, you will be responsible for all advances, including interest and charges from your credit card to cover overdrafts regardless of who writes the check, makes the debit card purchase, or engages in any other transaction that causes the overdraft. Depending on your account terms, an Overdraft Protection Advance Fee may be charged to your Account each day an Overdraft Protection Advance is made and interest will accrue from the date each advance is made. Your credit card must be activated; if not activated, no money will transfer to cover the overdraft. Once your credit card has been activated, please allow up to 3 business days for your Overdraft Protection service to be fully enabled. Refer to the Consumer Credit Card Customer Agreement and Disclosure Statement for details. Please note that you may also be able to link your Wells Fargo Savings Account to your Wells Fargo Checking Account for overdraft protection. No interest is charged on overdraft protection transfers from your savings account; however, Overdraft Protection transfers from a Savings account count towards the Regulation D and Wells Fargo combined total limit of 6 transfers and withdrawals per monthly fee period. If the limit is exceeded, an Excess Activity fee for each transfer or withdrawal will be assessed. If the limit is exceeded on more than an occasional basis, your Savings account could be converted to a Checking account or closed.

Security interest, pledge, assignment of collateral

This is an application for a secured credit card account. In consideration of the issuance of this secured credit card account, you have authorized Wells Fargo Bank, N.A. to open a deposit account called the "Secured Card Collateral Account" (the "Collateral Account") in your name. To secure all of your obligations arising under this credit card account, you assign, transfer, pledge, grant a security interest in, and set over to the bank all rights, title, and interest in the Collateral Account and in all renewals, additions and proceeds of the Collateral Account, You agree that this security interest, pledge, and assignment includes and gives the Bank the right to redeem, collect and withdraw any part or the full amount of the Collateral Account upon any default under the Agreement or in the event your secured credit card account is terminated for any reason. You acknowledge and agree that this security interest, pledge, and assignment means that the bank has exclusive control over the Collateral Account, You may not make any withdrawals from the Collateral Account while it secures your credit card. The Secured Card Collateral Account is a non-interest bearing account, therefore no interest will be paid to you on the Collateral Account. This security interest, pledge, and assignment is given as security for any and all amounts you may owe, including but not limited to interest, fees and charges which may accrue under your secured credit card account. You agree that if the secured credit card account is closed for any reason, the bank may apply funds in the Collateral Account to pay off any balance on the credit card account. If there are still funds remaining in the Collateral Account after doing so, these funds may remain on deposit for up to 60 days before being remitted to you.

Collateral account authorization. You request that the Bank open the Collateral Account described above and agree:

  • The Collateral Account and Bank's practices are subject to the terms of the Collateral Account, to Federal and State laws and regulations, and to Bank policies.
  • To pay all charges and follow all practices set forth in the terms applicable to the Collateral Account.
  • To hereby stipulate to the terms of the arbitration program described in the Agreement.
  • To abide by all future changes to the terms and charges for the Collateral Account.
  • The Bank may disclose information about the Collateral Account and credit card accounts to credit reporting agencies and to other persons or agencies who, in its judgment, have legitimate business purpose for obtaining such information, subject to applicable law.

Important information about procedures for opening a new account

To help the government fight the funding of terrorism and money laundering activities, U.S. Federal law requires financial institutions to obtain, verify, and record information that identifies each person (individual or business) who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask for your driver's license or other identifying information.

Notice to Ohio residents

The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers, and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

Notice to married Wisconsin residents

If you are married, by submitting your credit card application you are confirming that this credit card obligation is being incurred in the interest of your marriage and your family. No provision of any marital property agreement (pre-marital agreement), unilateral statement under 766.59 of the Wisconsin Statutes, or a court decree under 766.70 adversely affects the interest of the creditor unless the creditor, prior to the time the credit is granted, is furnished a copy of the agreement, statement or decrees or has actual knowledge of the adverse provision. If the credit card for which you are applying is granted, you will notify the Bank if you have a spouse who needs to receive notification that credit has been extended to you.

Application agreement

This application is for a credit card with Wells Fargo Bank, N.A. You certify that all information provided is true, correct, and complete and that you have the legal capacity to enter into this contract. The Bank is authorized to verify or check any of the information given, to obtain credit reports on you and to make Overdraft Protection advances if you requested that feature. You authorize the Bank to obtain information from others to investigate your credit, employment and income history and state records including state employment security agency records and to report information regarding your account to consumer reporting agencies. You agree that the Bank will determine the amount of credit extended, as well as which product you qualify for, based on the Bank's review criteria. If you do not qualify for the product or pricing requested or for the lowest pricing offered, you authorize the Bank to grant you the product and pricing for which you do qualify. You agree to be bound by the terms and conditions of the Agreement, which will be sent to you, and understand that the terms of your account may be changed at any time, subject to applicable law. You hereby stipulate to the terms of the arbitration program described in the Agreement. You understand and agree that you will be liable for payment of all amounts owing on the account. You understand and agree that each person applying will have full and equal access to any credit line extended and each will be individually and jointly liable for payment of all amounts owed even if only one applicant uses the account.

A consumer report from consumer reporting agencies will be obtained in considering this application and for the purposes of any update, renewal, extension of credit, review or collection of the account. Upon request, we will inform you of the name and address of each consumer reporting agency from which we obtain a consumer report relating to you. If you are a married applicant you may apply for credit in your own name.

Important notice

Please call to activate your new card as soon as you receive it. If you do not do so, your requests for certain services such as balance transfers, Wells Fargo Online banking and ATM access may be delayed and you may be denied access to your account.

This information about the cost of the credit card account described in this disclosure is accurate as of November 2016. This information may have changed after that date. To find out what may have changed, call 1-800-642-4720.

Cellular telephone protection

Cellular Telephone Protection can reimburse the eligible Wells Fargo Consumer credit card cardholder for damage to or theft of a cellular wireless telephone. Eligible Cellular Wireless Telephones are limited to the primary line and up to the first three additional lines as listed on your provider's monthly statement. Cellular Telephone Protection is subject to a $25.00 deductible per claim and a maximum of 2 claims per 12 month period. The maximum benefit limit is $600.00 per occurrence and $1,200.00 per 12 month period. You will receive no more than the value of the original phone or a replacement phone with similar features and functionality, less a $25.00 deductible. This benefit does not cover cellular telephones that are lost. This protection is only available when cell phone bills are paid from your Wells Fargo Consumer Credit Card. The coverage does not apply if the cell phone bill is paid from a Wells Fargo Debit Card, Wells Fargo Business Credit Card, or from the card that is linked to a Line of Credit. Coverage does not apply to cell phones that are rented, borrowed, or received as part of a pre-paid plan. Electronic failure or issues related to the software of the device are not covered. Cellular telephone protection coverage begins the first day of the calendar month following your first cellular telephone billing on your Wells Fargo Consumer Credit Card, and remains in effect when you continue to charge your total monthly cellular telephone bill to your Wells Fargo Consumer Credit Card. This protection may not be equivalent to or better than other applicable coverage you may have presently or in the future, such as your homeowner's or automobile insurance policies, or through a plan provided through the seller of the telephone. For complete coverage benefits and exclusions regarding this protection call 1-866-804-4770, 24 hours a day, seven days a week or go to wellsfargo.com/cellphone.

Terms applicable to secured card collateral account

In the following Terms Applicable to Secured Card Collateral Account ("this Collateral Account Agreement"), "you" and "your" refer to the owner and, where applicable, each coowner of a Secured Card Collateral Account (the "Collateral Account"). The "Bank," "we" or "us" refers to Wells Fargo Bank, N.A.

Together, you agree that this Collateral Account Agreement and the Secured Agreement form a binding contract and make up the entire agreement between you and the Bank regarding the handling of your Collateral Account. This Collateral Account Agreement applies to each deposit account at the Bank, as well as all substitutions and replacements thereof, that has been assigned or pledged by you as collateral for the credit card account(s) issued to you by the Bank. You should retain a copy of this Collateral Account Agreement and any information that the Bank provides you regarding changes to this Collateral Account Agreement for as long as your Collateral Account is open. You should ask the Bank any questions you have about this Collateral Account Agreement. This Collateral Account Agreement may be changed by the Bank from time to time. Notice of a change may be provided by any means the Bank considers appropriate. Unless the law requires notice by another means, notice of a change in this Collateral Account Agreement may be provided by posting in the Bank's lobby. If any part of this Collateral Account Agreement is held invalid in a legal proceeding, it will not affect the validity of any other part. The Bank may assign the Collateral Account at anytime and without providing prior notices to you of the assignment.

The bank's liability to you

Acts and omissions of other financial institutions. The Bank will not be liable for the intentional wrongdoing or the lack of ordinary care by any financial institution to which the Bank has forwarded a check, draft, or other order or instruction for the payment, transfer or withdrawal of funds (an "Item") for deposit to your Collateral Account.

Waiver. If the Bank waives any of its rights on any one occasion, it will not be considered a waiver of the Bank's rights on any other occasion.

Verification of transactions; rights to reverse erroneous credits. All transactions, including without limitation those for which the Bank has provided a receipt, are subject to the Bank's final verification. The Bank may reverse any credit it has erroneously made to your Collateral Account at any time without prior notice.

General limitations. The Bank will have no liability to you, other than as provided in this Collateral Account Agreement. The Bank will meet its duty to care for your Collateral Account if it exercises ordinary care in the transaction at issue. When the Bank takes an item for processing by automated means, "ordinary care" does not require that the Bank examine the item. "Ordinary care" requires only that the Bank follow standards that do not vary unreasonably from the general standards followed by similarly situated banks. A mere clerical error, or an honest mistake, will not be considered a failure of the Bank to perform any of its obligations. Unless imposed by law, the Bank will not be liable for consequential, special, punitive or indirect loss or damages.

Endorsements

The Bank is authorized to supply your endorsement to any Item taken for collection, payment or deposit to your Collateral Account.

Deposits and withdrawls

This Collateral Account serves as the collateral for the credit card account(s) issued to you by the Bank. It may not be used to secure any other loans. The Bank has the right to require 7 days written notice before you withdraw or transfer money from this Collateral Account. Notwithstanding the foregoing sentence, you agree that you may not withdraw funds or exercise any other rights over this Collateral Account until your obligations under the Agreement have been fully paid and the credit card account has been closed.

Statements and items paid

Mailing of statements. Statements and other information regarding your Collateral Account will be mailed to you at the last address you have given the Bank, unless the Bank agrees otherwise in writing. If your Collateral Account is a joint account, the Bank may mail the statement to any owner.

Your obligation to review statements and items and to report irregularities. You agree to promptly and carefully examine each statement you receive from the Bank. You will promptly report any erroneous credit. Within 30 days after the Bank mails or otherwise makes the statement available to you, you will report to the Bank any claim for credit or refund due for example (and without limitation) to either an erroneous debit, a missing signature, an unauthorized signature, or a material alteration. If you don't, the stated balance will be conclusively presumed to be correct. This means that the Bank is released from all liability for the Items charged to your Collateral Account, and for all other transactions or matters covered by the statement.

Fees and expenses

You will pay the Bank a fee for its services in accordance with its then current fee and information schedule. Account-related services obtained through an affiliate bank are subject to the fees disclosed in its then current fee and information schedule. Fees and expenses described in this section may be deducted from your Collateral Account and may, at the Bank's option, be charged against your Collateral Account during a statement period other than the one to which they relate. If your Collateral Account is closed, you will continue to be responsible for any fees that may have accrued, any Items deposited to your Collateral Account prior to its being closed, and any fees and expenses related to those Items. If the Bank incurs any costs or expenses enforcing this Collateral Account Agreement, you will pay those costs and expenses, including reasonable attorneys' fees and court costs.

Direct deposits returned by the bank

If in connection with a direct deposit plan funds are deposited to your Collateral Account and later returned to the originator, the Bank may deduct the amount from that or any other account you have, without prior notice and at any time, except as prohibited by law. The Bank may also use any other legal remedy to recover the amount.

The bank's right to set off

Security interest. The Bank may setoff against any accounts you own in your name (including matured and unmatured time accounts) for any credit card obligation you owe the Bank, whether due or not, at any time and for any reason as allowed by law. This includes as permitted by law, both secured and unsecured debts and debts you owe individually or together with someone else. If there is more than one owner of your Collateral Account, this includes the debts and liabilities of any owner without regard to your contribution to the funds then on deposit in the Collateral Account. The Bank may consider this Collateral Account Agreement as your consent to the Bank's exercise of its right of setoff should any law require your consent. To secure your performance of your obligations under the secured credit card account issued to you by the Bank, you grant the Bank a lien on and security interest in this Collateral Account, you pledge this Collateral Account to the Bank and you assign all your interest in this Collateral Account to the Bank. This pledge, assignment and security interest is independent of the Bank's right of setoff.

The bank's right to change your collateral account to another bank product

The Bank may convert your Collateral Account to another product offered by the Bank at any time by giving you prior notice. If you do not close your Collateral Account it may convert to that other product on the date specified in the notice.

Joint accounts

If more than one of you open a Collateral Account it will be presumed to be a joint account with right of survivorship unless state law creates a contrary presumption or the Bank otherwise agrees with you in writing. Any sums in a joint account may be paid, on request, to any owner without regard to whether any other owner is then incapacitated or deceased or whether the account includes a right of survivorship. If your Collateral Account does include a right of survivorship and one of you dies, the Collateral Account is payable to any survivor, subject to the Bank’s right of setoff and security interest. If your Collateral Account does not include a right of survivorship and one of you dies, the Collateral Account may, subject to the Bank’s right of setoff and security interest, be paid to any survivor or to the personal representative, heirs or successors of the deceased owner even though not the last surviving owner. The Bank has no obligation to separately account for each of your interests in the Collateral Account. An owner may supply an endorsement of another owner. The Bank may act on the instructions of any owner; however, instructions to remove an owner’s name or restrict an owner’s use may only be made by the owner whose name is to be removed or whose use is to be restricted, by that owner’s legal representative(s) or by court order. Subject to the terms of this Collateral Account Agreement, the Bank may close the Collateral Account on the instructions of any one of you or your legal representative(s).

Transferring collateral account ownership

You may not pledge, assign or in any other manner transfer all or a part of or any interest in your Collateral Account. The Bank does not have to recognize the transfer, has no duty to make further inquiry and may make its acceptance conditional.

Deposited items returned unpaid

The Bank has the right to charge back to your Collateral Account any Item deposited to your Collateral Account that is returned. The Bank has the right to pursue collection of such Items, even to the extent of allowing the payor bank to hold an Item beyond the midnight deadline in an attempt to recover payment. These collection efforts may include sending such Items back for collection one or more times. The Bank will have no liability for resubmitting or not resubmitting these Items (or for taking any other action it considers reasonable to recover payment) without notice to you.

Non interest-bearing collateral account

No interest will be paid to you on this collateral account.

Minimum deposit requirements. In order to open this Collateral Account, a minimum deposit of $300.00 is required as security for a credit card account.

Primary collateral account owner. The primary account owner of this Collateral Account must be the same person who is the primary holder of the credit card account that is secured by the funds in this Collateral Account.

Deposits to the collateral account. Deposits to your Collateral Account may only be made by check, money order or cashier's check and must be in increments of $100.00 and mailed to the following address:
Wells Fargo Card Services
P.O. Box 9376
Des Moines, IA 50306-9376

Notices and other mail

Any notice you send the Bank will not be effective until it is actually received and the Bank has a reasonable opportunity to act on it. Any notices, statements, or other correspondence the Bank sends you may be sent by ordinary mail to the last address the Bank has for you in its records. If there is more than one owner or person authorized to transact business on your Collateral Account, notices, statements and correspondence may be sent to any one of you. You assume the risk of loss in the mail. Any notice the Bank sends you will be effective when mailed.

Minimum balance requirements; other restrictions

The Bank may impose minimum balance requirements or other limitations or restrictions on your Collateral Account, provided such requirements are disclosed to you.

Legal actions affecting your collateral acount

Your Collateral Account may be subject to legal action, such as a tax levy, third party garnishment, or levy, seizure or forfeiture. Such legal action is subject to the Bank's security interest and right of setoff. Fees or expenses the Bank incurs in responding to legal action (including without limitation attorneys' fees and the Bank's internal expenses) may be charged against your Collateral Account.

Closing your collateral account

The Bank may, in its discretion, close your Collateral Account at any time. If it does, it may send the balance by ordinary mail to the last address the Bank has for you in its records. Payment may be in cash, by cashier's check or bank draft. Before closing your Collateral Account, it will give you any notice required by law. You may not close the Collateral Account until your obligations under the Agreement have been fully paid and the credit card account is closed. We may use the funds in this Collateral Account to pay any balances on your credit card account. You agree that if the credit card account issued to you by the Bank is closed for any reason, the Bank may apply the funds in this Collateral Account to pay off any balance on the credit card account. We may hold funds in this Collateral Account for a minimum holding period of sixty days after the credit card balance is paid in full and the credit card account is closed in order to cover transactions that may be posted to the credit card account after it is closed.

Adverse claims

If the Bank receives a claim to all or a portion of your Collateral Account that is adverse to your interest and the Bank does not believe that it is otherwise adequately protected if it ignores that claim, the Bank may place a hold on funds that are subject to the claim. The hold may be placed for any period of time the Bank believes to be reasonably necessary to allow a legal proceeding to determine the merits of the claim to be instituted.

Business days

The Bank's business days are Monday through Friday. Holidays observed by the Bank are not included. The Bank's business hours are listed in its then current fee and information schedule or location guide which is available upon request.

Disclosure of information

Generally, the Bank will not disclose information to third parties about your Collateral Account, but may do so under the following circumstances:

  • when the Bank needs to in order to complete transactions;
  • to verify the existence and condition of your Collateral Account for a third party, such as a merchant or credit bureau;
  • to comply with statute, regulation or rule;
  • when reporting the involuntary closure of your Collateral Account;
  • to comply with a subpoena, search warrant or other government agency or court order;
  • when the Bank concludes that disclosure is necessary to protect you, your Collateral Account, or the interests of the Bank;
  • in connection with examinations by state and federal banking authorities;
  • to Wells Fargo and Company, its affiliates, and its subsidiaries, unless otherwise restricted by law;
  • to agents of the Bank acting in their official capacity; or
  • if you give your permission.
  • The Bank may disclose information about you or your Collateral Account to its affiliated banks and companies and to unaffiliated third parties in accordance with the Wells Fargo Privacy Policy.

Secured card marketing summary

How it works

  • The Wells Fargo Secured Credit Card helps build credit history with responsible use.
  • You make a security deposit at account opening, which establishes your secured credit line.
  • Wells Fargo shares your secured credit card payment activity with the three major credit bureaus, helping you establish credit history.
  • To improve your credit, you must use your credit card responsibly. Helpful tips include:
  1. Use the credit card without spending beyond your means.
  2. Pay at least the minimum payment on your monthly bill on time, every time. Payment cannot be applied from the security deposit.
  3. Do not exceed the credit limit.
  4. Keep payments to other creditors current.

Security deposit

  • When you apply, you’ll provide a security deposit with a minimum of $300, or up to $10,000.
  • Your credit line is equal to your security deposit. Your credit line is the maximum amount you may charge on the credit card.
  • Your security deposit must be available to approve your account.
  • You cannot withdraw funds from your security deposit. Payments are not deducted from your security deposit. 
  • Your security deposit does not earn interest.

Upgrade to an unsecured credit card

  • Wells Fargo reviews Secured Credit Card accounts, and upgrades qualified accounts periodically.
  • There is not a preset time that Wells Fargo performs account reviews for potential upgrade.
  • Only U.S. Citizens and Permanent U.S. residents qualify for upgrades to an unsecured credit card.
  • Your security deposit is refunded if your account is upgraded.

See the Secured Credit Card Customer Agreement and Disclosure Statement for full details.

Please note that the offers displayed on this page may differ from offers you may have received from Wells Fargo. Please refer to your offer specific disclosures for more details.

Minimum Monthly Payment

The minimum dollar amount that must be paid each month before the payment due date. The minimum payment amount may vary monthly depending on account activity; you may find your current minimum payment on your current monthly billing statement.

Credit Limit

Also known as credit line, this is the maximum amount you can carry as the balance on your credit card.

Annual Fee

A fee charged once a year for maintaining an account and for any special services. Be sure to check the terms and conditions of the account to see if an annual fee applies.

Annual Percentage Rate (APR)

The periodic rate, expressed as an annual amount, used to compute the interest charge on an outstanding balance.

Balance Transfer

Allows you to use the available credit on one credit card to pay the balance on one or more credit lines or loans. While making a balance transfer may be beneficial to you, balance transfers also may have limitations and/or fees associated with them so please consult your account agreement before making a balance transfer.