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Wells Fargo Secured Visa® Gold Card
Issued by Wells Fargo |
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| Total Posts: 4 |
Average Rating:
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Category: Secured |
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Showing 1 - 4 of a total of 4 Commentaries |
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1-4 |
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| "It's really a very good card for people with bad credit" |
Here's my story - it's long and true.
Three years ago my credit was so bad I ws turned down for this card. WF wouldn't even lend me my OWN money. At the time I had a checking account with them that I had there for several years, and taht's what persuaded them to give me a chance. I opened the savings account with $500 and promptly increased it to $1000. The terms of thje card were: "Use the card twice in the next 12 months, pay the bill and we will refund your savings account and give you an unsecured card with the same credit line. I did just that and no more - two tanks of gasoline were charged three months apart and then the card had a place of honor in my sock drawer.
When the year ended they did in fact refund the $1000 plus interest and gave me an unsecured $1000 line. When I asked for a line increase they were reluctant to give it to me - the reason was so little usage of the secured card. I replied that Capital One had given me a $5,000 line and that's the card that traveled to Cancun with me. With $1000 I couldn't evenb book the hotel and airfare. They agreed to give me a provisional raise to $5,000. I used the card and they increased the line to $10,000. Now they;ve added a Rewards program onto the card and I have an unsecured line of $10K plus almost 40,000 points (at 50,000 I get 2 free round trip plane tickets).
Play by their rules and WF will reward you. |
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| Most attractive feature: You can easily graduate to an Unsecured Card |
| Least attractive feature: Typical sub-prime nonsense that you have to put up with |
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| Posted by: Steve |
| Date: 10/12/2005 |
Recommend?  |
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This person does recommend this card.
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| "Use of card." |
We only use the card for ATM withdrawals from our checking accout. Works fine in U.S. and when we have travelled to Europe, Russia and Asia.
HOWEVER! If you have a large check to deposit via the ATM deposit don't do it! Go directly to a branch [preferable main] and deposit it with the teller directly. That way, if it is a verifiable check drawn on a reputable firm, it will be credited that day. Done through an ATM---look out. We deposit a $10K+ check via ATM thinking the full amount would be credited to the account. It appears there policy is indescrimately withold access to the full amount for several days and then only in installments.
Our problem was that checks for taxes etc. were unpaid and we were assessed NSF funds. The more the assesed the worst it got---just feeding on itself and running up the overdrawn amount on and on. Contacting the "manager" at a local small branch we were told, "That's the way it is." Who needs that type of explanation--accompanied by a smart a-- smirk? A trip to the main branch and talking with the manager there soon got things straightned out and all the charges etc reversed.
The checks were paid and there were no further problems. The lesson? Don't deposit anything in your accounts via ATM. Otherwise we are pleased with Wells Fargo---when we keep an eye on our accounts on a daily basis via the internet access. |
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| Most attractive feature: Used only for ATM Cash withdrawals--word wide |
| Least attractive feature: Ignorant and arrogrant personnel at some branches located in suermarkets. |
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| Posted by: Rich |
| Date: 10/14/2004 |
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This person does recommend this card.
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| "Good Card" |
| For a secured card, this card seems to have the most benefits. I got a 5.99 6 month introductory rate, the lowest annual fee ($18) for a secured card and excellent customer service. Emailed questions are responded to promptly. They do not hold payments for 10 calendar days as other secured cards do. If you have to get a secured card, get this card! |
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| Most attractive feature: Online Account Access |
| Least attractive feature: Online Pmt can only be made if u have Wells Fargo Checking Account |
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| Posted by: mhk |
| Date: 12/21/2002 |
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This person does recommend this card.
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| "Wells Fargo Secured Visa" |
| Great credit builder! Although the card does report as SECURED to the major credit bureaus, it is just a great card. Accepted everywhere, set your own limit, and earn reward points for every purchase you make. Customer service is reasonable (as long as you are too). The security deposit doesn't earn any interest, but the card is reviewed from time to time for the possibility of "graduation" from secured to unsecured. |
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| Most attractive feature: 5.9% Intro rate for 6 months |
| Least attractive feature: Security deposit doesn't earn interest. |
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| Posted by: David |
| Date: 10/1/2002 |
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This person does recommend this card.
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Showing 1 - 4 of a total of 4 Commentaries
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1-4
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