Well's Fargo secured credit card does not have a rewards program, either. Well's Fargo secured credit card offers the following perks: The card is a credit card. The company provides no interest free period and the interest rate will be determined by your actual balance and your credit history. These are the same things you would expect to see with a normal credit card.
Well's Fargo also offers the same perks on their merchant account. The only difference is that when you use your card for cash advances, the company does not require you to pay an up-front cash advance fee. You are still responsible for the interest and fees associated with that line of credit. If you use your card for purchases, there is a 0% APR on purchases until the balance is paid in full. If you make a payment on time, you do not need to worry about late fees or any other additional charges. The interest rate and fees associated with your account are set by the company.
If you use your card for cash advances, the interest rate and fees will be based on your credit history. This means if your credit history is less than perfect, you will be charged more than someone who is excellent. The only option to help you out in these situations is to find a higher credit limit on your card so you can get a lower interest rate. This is especially helpful if you have very poor credit.
If you do make purchases and the interest rate is high, you can opt for a lower limit to start using your card. Many banks offer cash advances with a low limit and as your credit improves, you will be able to choose a higher limit for use. Your best bet would be to get yourself a secure credit card with a decent limit, use the low limit as a credit card and then pay off the higher limit as soon as possible.
If you use your secured credit card for cash advances, be sure to keep the card online. It is a great idea to save the information so you can check it out every month. Keep this information handy because there may be changes in your credit history. that you are unaware of.
When shopping for a secured credit card, you should compare all of the features, including the interest rate, reward programs, annual fee, monthly charges and any fees. There are some cards that require a monthly service fee while others don't. Remember, however, the benefits for using a cash advance with a secured credit card are the same whether you get a cash advance or not.