Wells Fargo Secured Visa Card Review

 Card Stats:

wells fargo secured visa credit cardMinimum Security Deposit: $300
Maximum Security Deposit: $10,000

Interest Rate: 18.99%
Introductory Interest Rate: None
Grace Period: 25 days
Foreign Transaction Fees: 3% of each transaction converted to U.S. dollars
Annual Fees:  $25
Application Fees: None
Rewards Program: None
Signing Promotion: None
Interest Earned on Security Deposit: No

Other Features:

  • Free e-mail alert when you approach your credit limit
  • Easily track expenses, built in tools to see where card holders are spending their money and the option to create a budget
  • Zero Liability program
  • Overdraft Protection
  • Cellular Telephone Protection
  • Rapid Alerts
  • Verified by Visa ®
  • Auto rental collision damage waiver
  • Emergency card replacement
  • Roadside dispatch
  • Travel and emergency assistance services

Editor’s Review

This review was provided by William Charles, editor of Doctor of Credit. 

This card used to be one of the most popular secured cards on the market. Thankfully as more card issuers entered the market this is no longer the case. It’s processed by Visa.

Annual Fees

There is an annual fee of $25, this is on the lower side of annual fees for secured cards but there are a number of cards that have lower annual fees (six of which have no annual fee for the first year, three of these have no annual fee ever).


This card has an APR of 18.99% which is one of the higher APRs currently available for secured credit cards. These cards usually have lower APRs than traditional cards due to their being less risk for lenders.

Rewards Program

This card unfortunately does not offer a rewards program.

[Read: Secured Credit Cards With Rewards Programs]

Credit Reporting

This card reports to all three nationwide credit bureaus, this card is reported as “secure” to all of these credit bureaus.

Adding Funds

It’s possible to add funds to a Wells Fargo secured card to increase the credit limit on that card (up to a $10,000 maximum). Card holders must call Wells Fargo to add funds, this doesn’t result in a hard pull of the card holders credit report.

Upgrading To An Unsecured Card

Wells Fargo has a weird graduation schedule, they seem to only upgrade cards twice a year (once in April and then again in October). Most people who are graduated to an unsecured card have had their secured card for a minimum of twelve months, with some people having to wait until the 3 year mark before they were finally graduated.

When they do graduate, they are given the Wells Fargo Platinum Visa Card which has no annual fee, but no rewards program. There is no hard credit pull done for graduation and the same credit history shows (e.g the account age stays the same).


Wells Fargo will approve most applicants for this card as it has a security deposit. The only exception is people who have a bankruptcy on file.

Final Verdict

This card isn’t the worst card on the market, but the fact it has an annual fee, no rewards program and also an unreliable graduation to an unsecured card makes the decision to apply for another card easy. If you’re unsure what card you should apply for instead of this, we suggest reading our best secured card article.

If you still want to apply you can do so below.

Apply for Wells Fargo Secured Visa Card

Leave a Reply


newest oldest most voted
Notify of

I heard that they will approve with BK as long as its over a 1 year.


I’ve had this card since November of 2011 and still can’t graduate. :/


I’ve had it for the same amount of time and it still hasn’t graduated, I’ve never been late with a payment and at this point I’ve paid 25 per year for the annual fee. I called today and was told they will start reviewing accounts monthly, so my plan is to call every month for the next 6 months and request my card be graduated. It’s really upsetting it has taken so long, my account has always been in good standing.

eric almly
eric almly

I highly recommend not using them. Once you close the card down finally they will take forever and drag their feet returning you your deposit.

philip razook

I currently have a 500 dollar credit limit on my secured card and would like to increase secuirity deposit to 1000. Is it possible to do so and what is needed to do so.


500 dollars


They approved me for a secured card 1 month after my chapter 7 discharge.


Approved 1 month after chptr 13, great bank. Ironic how the ones desperate for credit acquire a secure card with 300 or 500 and after six months want credit rating of 650 or better and expect their secure card refund in a week or two…


The bank representatives do misinform customers. I was told I would get an unsecured card 6 months to one year after the deposit. I will be at 2 years in the next 2 months and the card is still secured. When I called Wells Fargo to ask why, the rep in broken English said “you do everything perfect I don’t know why but keep doing what you are doing and when Wells Fargo thinks the time is right they will give you a new card”. Today I was approved for an unsecured credit card from another bank. Wells Fargo says if I ask for my deposit back it will be a bad mark on my credit.


I’m was one month out of bk7 discharged when they approved me for a secured card (2/02/2016). Don’t really care much about graduation, just care about rebuilding my credit.


I have started the rebuilding process a year ago June2015 with Wells Fargo Secured Card for 300. My one year anniversary was in June 2016. I have called to verify my payment history. No late or missed payments ever. Its my oldest current line since my bk in 2011. I have several unsecured cards with higher limits my Fico jas jumped to over 620 also,and still no graduation. Hope what I read is true and they will review my account for October ??? Any thoughts on this


Iam suprise that its taking you that long. I apply for a secured card in February and I receive a letter from Wells Fargo saying I am getting upgrade in November 12 2016. *It took 6 months *

Elamin moore

My name is Elamin Moore I’m about to be upgraded to credit card yes credit card from Wells Fargo .I had secured credit card I stated that 02/2016.we’ll now they said upgraded to credit card I get my credit 11/15/2016 so now how would it take me to good up 100 points with this new credit card .just asking thanks

Elamin moore

One more thing when I paid my credit my credit was 563 then it went to 670 about three ago went down to 634 .so I done with secured Credit card . had that for 9 months now I’m get upgraded to credit card November 15 2016 so how long it that to go up 100 points just need to know that .my email mrelaminmoore@gmail.com this is easy for me to remember thanks


I got a secured card from Wells Fargo in December 2015 and I have just graduated to an unsecure card effective today. Great bank. I did not even need to get in touch with them to question the upgrade. I received a letter in November 2016 informing me that they are graduating me and refunding my deposit within 30 days after the upgrade is final. Since getting this card, I have purchased a brand new car and I just purchased a home. This is a great card to rebuild your credit. Would recommend it to anyone to go for it. Pay it on time, never go over your credit limit and it will work for you. I went from a 580 credit score to now at 726. Thanks Wells Fargo for your help.


You answer really cheers me up!

Tammie Henderson
Tammie Henderson

I am a RN I had a few mishaps with credit so I have been with the bank for 14yrs and decided to go with the secured card. I did I kept my payments on time it was other things that I had in the credit bureau that needed to come off. I paid my debts they were about 1000 total. I paid all of them I graduated. So it took me 2yrs some people do graduate in a year I am a happy camper. Plus I gor my 300 back in my account in 5 days.


Yes this card is pretty lack-luster in terms of perks but it is a great tool for rebuilding credit. I opened it with 2,000.00 and although it took around 4 years (rebuilding credit is a long process that requires patience), they returned my deposit, increased my credit by a thousand (for sa total of 3,000.00) and converted the card to a non-secured. My credit increased slowly but surely. Soon after, I was able to get other unsecured major credit cards with other major banks and have been building credit thus far.

Also, note that this card also includes car rental insurance and offers a solid fraud protection (on two occasions I had a charge dispute resolved in my favor… and the process was quick and easy). It also offers free cellular phone inurance (with restrictions onbviously but it’s a FREE service that allows you up to 600.00 for a replacement) under the condition that the mobile phone bill is paid with the WF credit card.

They also offer a very good toll-free call center where reaching a live agent is pretty easy

Back to Top ↑