Does Wells Fargo Offer a Secured Credit Card?

Does Wells Fargo Have a Secured Credit Card?

Wells Fargo does not currently offer a secured credit card. While the bank provides a wide range of personal and business credit products, a secured card — where a cash deposit serves as the credit line — is not among them. If you are looking to build or rebuild credit, you will need to explore alternatives outside the Wells Fargo product lineup.

What Is a Secured Credit Card

A secured credit card requires a refundable security deposit that typically becomes your credit limit. Because the issuer holds the deposit, these cards are easier to qualify for than traditional unsecured cards. They report payment activity to the major credit bureaus, making them a useful tool for establishing or improving a credit score over time.

Why Wells Fargo Does Not Offer One

Wells Fargo has historically focused on unsecured credit cards, such as the Wells Fargo Active Cash and Wells Fargo Propel American Express cards. The bank has not launched a secured card product, likely because its existing credit card portfolio targets consumers and small businesses with established or good credit. A secured card product would serve a narrower audience that the bank currently reaches through other lending products like secured loans.

Secured Credit Card Alternatives

If you want a secured card, several major issuers provide options worth considering:

• Discover it Secured — offers a cash back match and a path to an unsecured line after responsible use.
• Capital One Platinum Secured — has a low minimum deposit and reports to all three credit bureaus.
• Chase Freedom Secured — requires a deposit and can lead to an upgrade to an unsecured Chase card.
• Citi Secured Mastercard — a straightforward option with a refundable deposit and regular credit line reviews.

How to Choose the Right Secured Card

Compare the required deposit, annual fee, APR, and whether the card offers a path to upgrade to an unsecured card. Look for cards that report to all three bureaus and that do not charge high fees relative to the credit line. Your deposit is usually refundable after you close the account in good standing or after a period of on-time payments.

Building Credit Without Wells Fargo

Wells Fargo does offer other credit-building tools, such as credit-builder loans and unsecured cards for qualifying applicants. A secured card from a different issuer can be an effective alternative if your goal is to establish a positive payment history. As your score improves, you may qualify for unsecured products from Wells Fargo or other banks.