- Your secured credit card activity is shared with major credit bureaus to help build your credit history. Over time, you may be eligible for an upgrade to an unsecured credit card.
- Requires a minimum $300 security deposit that is placed into a Collateral Account. You are responsible for making at least the monthly minimum payment on time. Payments are not deducted from your security deposit.
- Use it anywhere Visa is accepted®.
- Available to both U.S. and temporary residents.
- View our fees and rates
What you’ll need to apply
- An existing Wells Fargo Checking or Savings account to be used for funding the collateral account. (Otherwise, please apply at a Wells Fargo location)
- Social Security number
- Income information
How It Works
- You provide a security deposit for this credit card. It is your credit limit (the amount you can charge).
- Wells Fargo shares your payment activity for this credit card with the Credit Bureaus. This creates credit history if you have never had credit before. It contributes to your overall credit history if you are working to improve you credit.
- You must pay your bill on time, every time, and you cannot go over your credit limit.
- Wells Fargo reviews Secured Credit Cards periodically for upgrade. If you are upgraded, your security deposit will be refunded.
Your Security Deposit
- When you apply, you provide a minimum security deposit of at least $300, or up to $10,000.
- Your credit limit is equal to your security deposit. It is the maximum amount you can charge on the credit card.
- Funds for your security deposit must be available to open your account.
- Funds cannot be withdrawn from your security deposit.
Using Your Credit Card
- You must make at least the minimum payment on time each month.
- Payments are not deducted from your security deposit.
Upgrade to unsecured credit
- Wells Fargo reviews Secured Credit Card accounts for upgrade periodically.
- If you are upgraded to an unsecured credit card, Wells Fargo will refund your security deposit.
- Only U.S. Citizens and Permanent residents will qualify for upgrades to an unsecured credit card.
- Auto rental collision damage waiver
- Emergency card replacement
- Roadside dispatch
- Travel and emergency assistance services
- Certain limitations and restrictions apply, see the Visa Guide to Benefits
Online Banking Features
All Wells Fargo Secured Credit cardholders have access to free online credit education courses and tips to help you manage credit wisely.
Choose your monthly payment due date and sign up for automatic or online payments.
Stay on top of your account activity with free email alerts when you approach your credit limit, a payment is due, and more.
Easily track your expenses. My Spending Report with Budget Watch has built-in tools that help you see where your money is going and easily set up a budget.
All Wells Fargo Credit Cards automatically protect you from liability for unauthorized transactions when you report them promptly.
You may link your credit card to your checking account to help avoid overdrafts.
For Visa® customers. Get fast text and email alerts for monitoring spending, tracking purchases, and receiving notifications of irregular or suspicious activity.
Help protect your cellular telephone from damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Credit Card.
A Wells Fargo credit card with chip technology offers broader acceptance internationally and better protection against counterfeit fraud when used at a chip-enabled terminal.
Protect your Wells Fargo Visa card with a unique password for online shopping.
Download the Visa Guide to Benefits (PDF)* to learn more.
Wells Fargo Secured Card questions
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 is a secured credit card different than unsecured credit cards?
Unlike unsecured credit cards, a secured credit card requires a minimum $300 security deposit from you to secure your credit line.
How is a secured credit card the same as unsecured credit cards?
- 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.
Why is a Security Deposit required?
The security deposit in your Collateral Account is held to secure your line of credit. You must make at least the minimum payment on time each month without using your security deposit. By borrowing against and then paying off your line of credit, you can establish a history of on-time payments. This can help establish you as a responsible borrower. Funds cannot be withdrawn from the security deposit or applied as payment for balances or fees.
Do the funds in the Collateral Account earn interest?
No, the funds in the Collateral Account do not earn interest.
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.
Does the secured credit card look different than an unsecured Platinum Visa® Credit Card?
No, the 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.
When can I become eligible for the unsecured Platinum Visa® Credit Card?
Secured Credit Cardholders with a valid Social Security number (U.S. citizens and permanent residents) may become eligible for an unsecured credit card. Wells Fargo reviews Secured Credit Card accounts for upgrade eligibility periodically. In the review, your overall performance across credit products will be considered, including your Wells Fargo Secured Credit Card account performance.