If you're not tied to Wells Fargo as an issuer, make sure to check out other secured credit cards that are available right now on the market.
A good example would be the Capital One Quicksilver Secured Cash Rewards Credit Card. This card requires a minimum deposit of $200, which will act as your credit limit. Plus, it offers 5% cash back on hotels and rental cars booked through Capital One Travel, as well as 1.5% cash back on all other purchases.
You cannot get a Wells Fargo secured credit card right now as there aren’t any available at the moment. Wells Fargo currently offers only unsecured credit cards, and most of them are designed for people with at least good credit.
Although there are no Wells Fargo secured credit cards, there are plenty of other major banks that … read full answeroffer them.
To get a Wells Fargo Secured Credit Card deposit refund, you must have your account closed, upgraded to an unsecured credit card account, or have your credit limit decreased. Refunds can be processed electronically to eligible Wells Fargo checking or savings or by check.
Here is what you need to know about Wells Fargo Secured Credit Card deposit refunds:… read full answer
Refunds for closed accounts: If your account is closed for any reason, the security deposit will be refunded to you within 60 days of determining whether you have paid your entire balance. Wells Fargo applies your security deposit as payment for any unpaid balances.
Refunds for upgraded accounts: If your secured credit card account is upgraded to an unsecured credit card, your security deposit will be refunded to you within 30 days of the final upgrade date. If you have a balance, the amount will be billed to your upgraded account.
Refunds for decreased credit limits: If your credit limit is decreased, the difference will be refunded within 30 days of your request.
How refunds are delivered: Security deposit refunds are processed to the original Wells Fargo checking or savings account used for funding your credit line. You can also request to have your refund processed to another Wells Fargo checking or savings account. Otherwise, you can be issued a check.
Wells Fargo credit card requirements include having a credit score of 700+ (for most cards) and providing standard personal information such as your name, address, and date of birth. A Social Security Number (SSN) or an Individual Tax Identification Number (ITIN) is also required, and all applicants must be 18+ years old.… read full answer
Wells Fargo Credit Card Requirements
A credit score of 700+ (good credit) for most cards
Physical U.S. address (no P.O. boxes)
18+ years old
Social Security Number (SSN) or an Individual Tax Identification Number (ITIN)
Other factors such as your income, debts, housing payments, and your general ability to afford credit card payments will also be taken into consideration when evaluating an application.
Wells Fargo also issues a number of retail store cards that generally have more lenient approval requirements. So, applicants with fair credit or better (a score of 640) can get approved.
If you want the best Wells Fargo credit card approval odds, make sure to pay your bills on time and try to keep your credit utilization around 30%. And keep in mind that an application will trigger a hard inquiry which may temporarily cause a dip in your credit score. So, make sure you know where you stand before applying. You can check your credit score for free, right here on WalletHub.
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