If you're looking for a card that offers security and if doesn't require a yearly fee, then the Wells Fargo Secured Credit Card may be right for you. While the card doesn't exactly charge an annual fee, the yearly fee is quite low compared to other secured credit cards. It is also worth noting that there are a few other advantages as well. For example, you don't have to worry about additional fees and interest rates on balance transfers.
One of the biggest draws to the Wells Fargo Secured Credit Card comes from the cash back rewards program. You earn two to five percent cash back just by using your secured card to make purchases. So, not only do you earn cash back, but you also earn cash back on interest paid, which can end up being a significant amount depending upon your individual situation. The good news is that this cash back program is available for both major credit cards from this provider.
The cash back rewards can be applied to many, if not all, of your purchases. But there's a bit more to earning rewards with the Wells Fargo Secured Credit Card than just shopping. In fact, you can apply your rewards to all of your purchases through the major credit bureaus. Here's how it works. When you use your card to make purchases, the company will scan the ID and the receipts and then apply the rewards to your account.
Now you may think this is a perk that is given out freely, but you can also earn a security deposit each time you make a purchase. The security deposit will be returned along with your statement when your account is closed. The major credit card companies do not advertise this reward because it does not benefit them directly. This security deposit can be up to three hundred dollars and will be returned when you close your account. The benefits of the Wells Fargo Secured Credit Card are worth keeping in mind if you find yourself in need of extra money to make ends meet during the holidays or some other period of financial need.
You can also enjoy special offers and incentives with the Wells Fargo Secured Credit Cards for U.S. citizens only. The special offers and rebates are based upon the needs of the applicant and will vary from time to time. You can apply as often as you like, and the company may freeze your interest rate for a certain period of time if you qualify for low income incentives.
Some perks of the Wells Fargo secured credit card credit cards for U.S. citizens include the ability to pay your bills online using your mobile phone; the ability to add purchases to your account without having to notify the company; free account management software that allow you to track all your purchases, transactions, and balance transfers; and the ability to earn and qualify for airline miles. There are also many added services, such as electronic bill pay, the ability to make and receive payments online, an electronic banking account, the ability to make major purchases over the internet, and much more. Some cards are better than others. It all depends on what you . . . . . . need for your financial needs. It's nice to know you have such a great option.