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Wells Fargo Secured Card Terms and Conditions

Wells Fargo Secured Visa® Credit Card Terms and Conditions


Interest Rates and Interest Charges

Annual Percentage Rate (APR) for Purchases


This APR will vary with the market based on the U.S. Prime Rate.

Annual Percentage Rate (APR) for Balance Transfers


This APR will vary with the market based on the U.S. Prime Rate.

APR for Cash Advances and Overdraft Protection Advances


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


Annual Fee


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)".

You may not qualify for an additional Wells Fargo credit card if you have opened a Wells Fargo credit card in the last 6 months.

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 4.75 percentage points as of 11/14/2019.
  • 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.

Annual Fee

The annual fee for this account is $25. The annual fee will be charged on your first periodic statement and on your Secured Credit Card account opening anniversary each year. The annual fee will not be billed after your Secured Credit Card account is closed. If your Secured Credit Card account is closed within 90 days of the annual fee being charged, the annual fee will be refunded.

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 it is 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. There may be other options available to protect against overdraft that may be less costly. Please visit for details.

Security interest, pledge, assignment of collateral

You have authorized Wells Fargo Bank, N.A. to open a deposit account with your security deposit 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 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.

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 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 by electronic transfer to the Wells Fargo checking or savings account that was used to fund the original deposit. If the account is no longer open, or the Collateral Account was funded using cash or a check, you will receive a check for any remaining funds for the collateral deposit in the mail. If you are no longer an owner of the account that you used to fund the original security deposit, you must notify Wells Fargo of this before or at the time of closure to prevent electronic transfer of the security deposit to the funding account.

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 the credit card account 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.

Consent to contact you

By providing us with any telephone number, you are expressly consenting permission to contact you at that number about all of your Wells Fargo accounts. You give consent to allow us to contact your past, present and future phone service providers to verify the information you have provided against their records. You agree that your phone service providers may verify any phone numbers you have supplied to the name, address, and status on their records. For us to service your Account or to collect any amounts you may owe, you agree that we may contact you using any contact information related to your Account including any number (i) you have provided to us (ii) from which you called us, or (iii) which we obtained and reasonably believe we can reach you. We may use any means to contact you and this may include contact from companies working on our behalf to service your accounts. This may include automated dialing devices, prerecorded/artificial voice messages, mail, e-mail, text messages, and calls to your cell phone or Voice over Internet Protocol (VoIP) service, or any other data or voice transmission technology. You are responsible for any service provider charges as a result of us contacting you. You agree to promptly notify us if you change any contact information you provide to us. This includes your name, mailing address, e-mail addresses, or phone numbers. If you have a joint Account, a notice to one of you will serve as a notice to both of you.

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. 

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.

Account funding 

You agree that the Bank may immediately transfer the security deposit from the account specified by you or deposit the check provided by you upon approval of your application. If your account is approved, but not funded immediately, you will have 30 days to complete funding after which time your account will be closed.

If your application is approved, your credit limit will be equal to your security deposit and the security deposit will be held in a Wells Fargo Collateral Account opened in your name.

Deposit products offered by Wells Fargo Bank, N.A. Member FDIC.

Terms applicable to secured credit card upgrades

Not all accounts will qualify for upgrade to an unsecured credit card. For accounts that qualify for upgrade, upgrade timing will vary.
Eligibility to upgrade to an unsecured credit card is restricted to U.S. citizens and permanent resident aliens with a valid Social Security Number or Individual Taxpayer Identification Number. Periodically throughout the year the Bank will review your account to determine qualification for a possible upgrade to an unsecured credit card. The Bank will consider many factors including but not limited to how the Secured Credit Card account, other credit accounts and other Wells Fargo accounts are managed.

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 August 2019. 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 cell phone. Reimbursement is limited to the repair or replacement of your original cell phone, less a $25 deductible with a maximum benefit limit of $600 per claim and $1,200 per 12 month period. This benefit does not cover cell phones that are lost (i.e. disappear without explanation). 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, Wells Fargo Commercial 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 prepaid 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 cell phone billing on your Wells Fargo Consumer Credit Card, and remains in effect when you continue to charge your total monthly cell phone bill to your Wells Fargo Consumer Credit Card. This protection may not be equivalent to or better than other applicable coverage. This is supplemental coverage not otherwise covered by another insurance policy (for example, cell phone insurance programs, or your homeowner's, renter's, automobile, or employer's insurance policies) and may be applied after all other insurance. For complete coverage benefits and exclusions regarding this protection, go to

Note: Call your cellular provider (or sign on to their website) and request to set up automatic payments. Setting up automatic payments is not required to qualify for Cellular Telephone Protection; however, you need to pay your monthly cell phone bill with your eligible Wells Fargo Consumer Credit Card to get up to $600 protection.

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 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 any time 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.


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

Deposits and withdrawals

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 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.

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 security 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.

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 and security deposit, provided such requirements are disclosed to you.

Legal actions affecting your collateral account

Your Collateral Account and security deposit 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 security deposit 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 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.

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