Wells Fargo Secured Credit Card Deposit Return | Card Refund Back, Reviews
Wells Fargo has one of the most secured cards today in the credit card market, however, one of the characteristics of a secured card that Wells Fargo posses is the meeting up with the requirement of a minimum $300 security which has to be deposited by the card holder in order to secure the credit line.
The Wells Fargo Secured Credit Card although is often referred to as a secured card has the same features as other credit cards like the walmart credit cards, Tires Plus credit card, Paypal credit cards, Petland credit cards etc, because this credit card can as well be used in any location or place where Visa credit cards are accepted. However, card holders are to compulsorily make a minimum payment on each occasion.
Wells Fargo Secured Credit Card is issued by Wells Fargo Bank, some of the features that attract customers to a particular credit card are the benefits, rates, fees as well as charges. Like I said earlier on this post, this credit card duly requires that there must be what is referred to as security deposit for the account to be opened.
Features Of Wells Fargo Secured Credit Card
The Wells Fargo Credit Card has some of the most significant features which are fwe but are redeemable, although customers have argued that the credit card benefits are not as rewarding as other secured credit cards. However, the Wells Fargo Secured Credit Card is designed to accommodate anyone who wish to apply for this card, below are a features of this credit card;
- There is a an annual fee charge of $25
- There is the option of having your card activity being shared with any major credit card bureaus in order to aid building a reputable credit history for you.
- The credit card can be used in any location where Visa credit cards is accepted
- The rest assured that the security deposit in your name is equal to the credit line, in essence if a deposit of $300 is made by you, your credit line will be pegged at $300
- The credit instrument is accessible by both United State citizens as well as all the permanent residents which includes non resident aliens2.
- There is the option of travel and emergency services as well as assistance in auto rental collision, including cell phone protection
- There is a zero fraud liability as there are rapid alerts as well as a verified access powered by Visa which helps o keep accounts safe from fraudulent activities.
- There is an option of mobile payment using either of Apple pay, Android Pay or Samsung Pay.
Things To Know about Wells Fargo Secured Credit Card
The credit line of this credit card is one if not the most important feature of this credit card, this all boils down to the amount of money deposited by you, deposits between $300 to $10,000 would form the basis for your credit line depending on what you deposit. This deposit placed in a non-interest bearing collateral account, this remains here until the period the account is closed or upgraded.
It is important to note that card usage and activities is shared between the bureaus and the by Wells Fargo. There is an option of an upgrade over time of usage. With the feature of an unlimited online access to your account as well as the automatic payments and purchases Alerts.
Rates, Charges And Fees On Wells Fargo Secured Credit Card
Here are the charges, fees as well as rates on this credit card;
- An annual fee charge of $25
- There are no monthly fees charged
- The regular rate is pegged at 20.24%
- There is a grace period of 25 days
- The MLF is pegged at $37
- Both the Maximum Overlimit Fee and Maximum Penalty APR are not charged
- Fee for foreign transaction is 3%
- Cash Advance Rate and Cash Advance Fee Are charged respectively 25.24% (V) and 5% (min $10)
Wells Fargo Secured Credit Card Application
There are instances where an application or registration for Wells Fargo secured credit card is denied, however, reason for this may not be far from the fact that the applicant didn’t meet up with the requirement, and didn’t follow the application procedure, Below is the application process;
- Go to Wells Fargo credit card application Homepage
- Quickly review the application terms
- On the application page, fill in the following information; Your Name, Your address, City/ State of residence, city’s valid Zip code, your Social security number (SSN), your Email/mailing address, Date of birth of the applicant, Phone number (Cell & Home).
PS – Additional information includes, Mortgage status, your Employer name, your Office phone number, your annual net income.
- Finally cross check terms and conditions alike before you accept.
- Submit by clicking on the “Submit” link.
Wells Fargo Secured Credit Card Customer Service Phone Number
The official wells Fargo customer service number is 1-800-642-4720. All Wells Fargo credit card holder can call customer service agent for issues on stolen cards or lost cards, there no extra cost as they are automatically covered by Zero Liability, also ask question on your credit card limits. Meanwhile in order to activate Wells Fargo secured credit card, customer can also call the customer care agent and provide the relevant information as will be required.