Researching the Wells Fargo secured credit card? Duane here with how to build
credit TV and in this video I'm gonna be talking to you about the Wells Fargo
secured credit card. Now I personally own two secured credit cards at the moment
and I'm really considering getting this particular secured credit card from
Wells Fargo. so that's what we're going to talk about in this video the Wells
Fargo secured credit card. But before we get started I have a quick message.
Once again my name is Duane with how to build credit TV. This channel offers
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subscribing. Alright now that we have all of that out of the way let's talk more
about the Wells Fargo secured credit card. Now I personally currently own the
Citibank secured credit card and the discover it secured credit card. Now
I'm really considering getting this secured credit card the Wells Fargo
secured credit card and the reasons why I'm considering it is because the credit
limit goes all the way up to ten thousand dollars. I currently do not have
a credit card that has a ten thousand dollar limit. I have one that has a seven
thousand dollar limit I have another one that has a three thousand dollar limit, I
have one that has a four thousand dollar limit but not one that has a ten
thousand dollar limit. So for me personally it makes a lot of sense for
me to consider this card because I can just go ahead and put the ten thousand
dollars into that account and let it sit there. It's like a savings account that
earns no interest for me so that's kind of funny but I'm really considering
getting the Wells Fargo secured credit card. So what I'm gonna do in this video
is I'm gonna talk to you about the Wells Fargo secured credit card and kind of
just go over the information that you may be considering or that you might
want to know in regards to the Wells Fargo secured card. Okay so the first
thing that you might want to know is does the Wells Fargo secured credit card
have an annual fee. It does have an annual fee it is $25. The minimum
requirement or the minimum deposit to open this card is $300 and
you can go from $300 with your deposit all the way up to $10,000. It is easier
to open a Wells Fargo secured credit card if you have a Wells Fargo checking
account because then that way they can just take the money from your checking
account. If you do not have a Wells Fargo checking account you can still open the
Wells Fargo secured credit card but you would have to mail in a check or a money
order and yes I said mail in a check or money order. I actually called customer
service because I wanted to make sure that I was giving you guys the right
information. If you're interested in getting started with the Wells Fargo
secured credit card but you don't have a lot of money to get started I would just
advise you to open the account initially with $300. That is the minimum that you
need to deposit in order to open the security card with Wells Fargo and then
what you could do after 2 billing cycles or 60 days is you can actually fund the
account in increments of $100. So you can kind of look at it as a way to save
money as a savings account and that way you're also building your credit limit
which is going to be good for your credit score. So that's what you can do
is just to get the account open open the account with you in three dollars and you
can fund it after two months after two billing cycles you can fund it in
increments of 100 dollars and you would fund the account by contacting customer
service and that give you more information on how to fund the account.
One of the main concerns that I had about the Wells Fargo secured credit
card was when it was time to upgrade from the secured credit card to the
unsecured card am I going to be able to keep the same card number which would
mean that I'm going to keep the same credit history that I've already expand
this with Wells Fargo or are they gonna give me a new account number which would
kind of mean that this is a brand new account and I'm starting from scratch. So
I actually contacted customer service and I asked them this question because
this was one of the concerns that I had the main concern that I had with Wells
Fargo as far as getting the secured card with Wells Fargo. So the good news is the
customer rep said that 95% of the time that you actually keep the exact same
card number and you keep all that credit history that you've already established
with them and you just moved from the secured card to an unsecured card. So I
was glad that I contacted customer service not just for you guys but for
myself as well because I'm really considering getting this secured card
with Wells Fargo and I'm considering getting the secured card probably no
less than $5,000. I definitely want to get $10,000 right off the bat initially
but I don't know if I want to separate myself from my $10,000 and the fact that
the $10,000 just it's just going to be sitting in an account getting no
interest when clearly I'm making interest off of that $10,000 right now.
Normally I go to the Wells Fargo website and I give you more information and we
just kind of look over the site together but I'm not gonna do that in this video
of what I will do is I will put a link below and you can go ahead and go to the
Wells Fargo website if you would like and get more information about the Wells
Fargo secured credit card. If you have any questions at all please feel free to
leave them in the comment below I will answer it as soon as I see it. Thank you
so much for watching this video as always and let me know kind of secured
card do you have if you have any secured card or let me know what kind of secured
card you're interested in if I haven't done a video maybe I'll do a video
talking about that particular secured card. Thank you so much for watching the
video if you liked it give me a thumbs up please. Don't forget to subscribe to
our channel we talk about everything that you need to know about credit.
Whether you're looking to establish credit,, build credit rebuild credit or
learn more about the FICO score and how and how it is comprised so you can
increase your credit score. If this sounds like something in which you're
interested be sure to subscribe to our channel and click the notification bell
so you don't miss a thing. Thanks again for watching until next time take
care and be blessed. Peace!