You can easily establish your credit score with a Wells Fargo Secured Visa Card. Wells Fargo has a very good reputation in customer servicing. Their secured credit card is the best in the industry offering you various features like fraud protection and accident insurance.
This card offers a reliable way to help rebuild your credit history. With this you are able to keep a low interest rate, sign up for email alerts, view your account by using a mobile application and graduate for a regular credit card if you pay off your balance each month. All of these features help this card to earn Top Ten Reviews Gold Award. The card requires a small security deposit which is fully refundable. The minimum security deposit amount is $300, equal to the minimum line of credit. The card works wherever any visa card is accepted. And the card can be customized with your own photograph. You can even be eligible for this card a year after you declare bankruptcy.
Wells Fargo does report your payment history to the major credit bureaus, so you can build or repair your credit history by using this card responsibly.
Terms and Fees:-
With this card, variable 18.99% APR will be applicable on all purchases, which is better than average for secured credit cards. Even though with a low APR, you should try not to carry a balance. If this card is being used responsibly and payments are made on time for a year, Wells Fargo qualifies you for an unsecured/regular credit card with a higher limit. This card has a moderate annual fee of $25. This is the lowest fee we found on any secured credit card. This card offers a 25 day grace period. With this grace period, a window of time of 25 days is given where you will not accumulate interest charges, if your bills are paid off in full. This grace period starts when your billing cycle ends and it closes when the payment is due for that billing cycle. Banks and credit card companies do not explain how a grace period works, so you should read the fine print and make sure what you are signing up for. If you miss a payment, you will be charged a late payment fee between $15 and $35. If you frequently travel abroad, you can expect a 3% fee on all foreign transactions.
This card has a 23.99% variable APR for cash advances. There is also a 5% cash advance fee or $10, greater is considered. So unless you absolutely need it, avoid getting a cash advance. Almost every card has this fee attached to it, so it cannot be avoided. There is a minimum credit limit of $300, which is the minimum security deposit as well. This card can give you a line of credit as high as $10,000.
The zero liability feature protects you from unauthorized use of the card if that access is reported on time. Wells Fargo also provides some features like- automatic fraud monitoring and early warning services. These services are to inform you if your card is being used at a location, which is different from where you are. This card also has free overdraft protection if you have a Wells Fargo checking account.
Customer Service: –
Wells Fargo has exceptional customer service that can be accessed by phone or email.
Contact no. (24/7): – 1-800-869-3557 (general banking)
1-800-956-4442 (online and mobile banking)