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Data Created: October 01, 2013

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57 Cardholder Reviews

Results 1-10 of 57Results per page: 5 | 10 | 25Page 1 of 6   Previous | Next

All Reviews

Secured Version: Not As Advertised Helpful to 15 out of 15 people

This review is for the Secured card version of the WF Visa, of which there is no separate card entry in Credit Karma.  I feel it's an appropriate entry, nonetheless, because many potential cardholders will look at these reviews, wondering what benefits to expect once they grow beyond Secured.  I want them to thoroughly understand the pros and cons, before then.  If you've already got a credit history and/or a good one, and don't need a Secured card, please disregard, and look to other reviews about the 'regular' Visa.  However, if you're building/repairing using the bank's secured card, here's my experience with it:

I've now had the card for about 15 months.  It's been great for the building credit, from a thin file/no credit history... but I've not experienced anything with the card that shows me where it would be beneficial to keep it beyond graduation, except purely for the age of my history:

1. I've not graduated yet.  I was told when I applied and when I was approved, that I would graduate in 6 months to a year, if you demonstrate responsibile use of the card.  I've had 100% on-time payments, never carry a balance, utilization has never been higher than 10%.  Still, no graduation.  Apparently, WF checks for graduation eligibility in October and April.  If you call to request them to review you, it will be a hard pull on your account, so you've got no choice but to wait for them to automatically graduate you, at their discretion.  I've read many posts from other forums, where graduation (often with a similar history to mine), has taken anywhere from a year and a half to up to four years.  It didn't matter than I also opened up other accounts with the bank (Business Checking, Personal Checking and Savings) - they have some unknown Russian Roulette method for choosing graduation candidates and it's likely either going to come down to me closing my card, and taking the score hit just to have access to my deposit, or waiting an unknown period for them to fulfill their end of the bargain.

2. I was also told that there would be rewards.  Their rewards (at least on my particular card) are limited to an online store, through the bank's Website.  I also have to dig around on the Website, before I can even find the section containing  It's a points system, only.  There's a good selection of stores, including well-known ones, but I don't see where it would be beneficial, unless you really shop online 24/7, or spend thousands of dollars in charges every month.

3. Annual Fee.  At $18, it's super low for a secured card, and that's great.  But once you've built your credit up with a strong history...you should pretty much be prepared to continuing sending WF an annual $18 "Thank You, for helping me to build credit" fee indefinitely, until they see fit to graduate you (by criteria no one has any clue about, but the bank).  It's low, yes, and the card does what it's supposed to do, yes, but given that the cardholder has no realistic idea of when the bank might graduate you, you could be paying the annual fee for quite some time, locked into a low limit, and may find that a card with a higher annual fee may actually be a better deal. For the simple fact that with another card, at least you're likely to graduate in a year, to a no-fee card with better terms and/or usuable rewards, have full access to your deposit with it, the ability to put that cash back to work for you (bills, further building of credit, savings and/or investment).  The WF fee does not come out of your initial security deposit.  You will pay that additional expense out of pocket.

Application: I applied in-branch and that process was pretty easy.  I received the card relatively quick, via USPS.  Standard bank forms / terms.  I *was* surprised that the APR was only 18.99% for someone who had a thin file (zero credit) at the time of application.  I never carry a balance, though, so it was never the most important factor for me at this stage, but I thought I'd mention it, anyway.

Customer service: I've found the CS to be more than respectable.  They're not unforgettable (see Discover It, for a fantastic customer service experience), but they're good and helpful.  The only part about customer service that truly I don't care for, is that they often transfer you to a related department.  It is the related department, in which they attempted to upsell overpriced credit monitoring services, with features which I get for free, here at Credit Karma... as well as other products which they know I'd never be approved for and which would hurt my score with unnecessary hard inquiries.  Even though I repeatedly declined and made clear that I would not want the products even in the future, they then began to constantly call my phone, with sales pitches, to the point where I had to temporarily change my account phone number to a dead number, to get it to stop.

All that said... You may find as I have, that being locked into a secured card when you've done everything right, is frustrating.  Your deposit remains tied up, limit remains low (which means that even though your credit score is good/better, any offers you receive from other cards will result in a lower limit than you might receive otherwise), and there's nothing else about the card that makes it worthwhile, once it's served its basic purpose of initial credit building.

If you truly can't afford the annual fee of a different institution's card, up front, or it's just convenient to you to have your card within the same account as your checking/savings...then by all means, go for the WF Secured.  However, if you're really expecting to be upgraded to unsecured and get your full deposit back after a year of consistent, responsible use, then look elsewhere.

vivaknievel's review was:    

  Jan 30, 2013 Reply

vivaknievel(5, 86)

Review by vivaknievel

5 Contributions 86 People Helped

Helpful to 3 out of 4 people

I opened a $6,000 secured card with Wells Fargo in 2009. I also had a checking, savings, and business checking account. The fees on the accounts were too difficult to avoid so I cancelled them a year ago.

So they've had my cash for nearly 4 years. No graduation. I called them today and they said that I can be put on a list of people who have requested graduation. She said my account will be "reviewed in the future." I asked what that meant. She finally got around to saying that I should get a letter response within 7 to 10 days.

My CK number is 745 and my bureau scores are all 684. My balance is around $1,000. No late payments. I can understand if they don't think that I qualify for a $6,000 unsecured card. No problem. But if they do not graduate me and tell me to wait, I'll be cancelling the card and getting my cash back.

I'll keep you posted.

Wekesa's reply was:    

  May 22, 2013

Wekesa(1, 3)

Review by Wekesa

1 Contributions 3 People Helped

Finally my credit is coming back Helpful to 9 out of 9 people

I have had some credit issues in the past due to putting the wrong person on my cards as an authorized user.  It has taken me 2 years, but I have gone from a score of mid 500's to 690.  I applied for this card, and had an immediate yes with an approved limit of $6,000.  I was so happy and pleased.  I have not hit my goal of 725 yet, but I am getting closer all the time.  I monitor my score every few days, I do not let any card have a balance over 19% of my limit, but I also do not let any card have a zero balance.   Even though I can pay a card off, I try to keep them all at around a 10-15% balance.  I have 2 judgements are paid but will be reported until June 2013, and then I will be fine.  I have for the last 4 years paid my bills on time 100% of the time.  For those of you trying to improve, it takes awhile and it does always make sense, but it can be done. 

dundee202's review was:    

  Oct 26, 2012 Reply

dundee202(2, 9)

Review by dundee202

2 Contributions 9 People Helped

Helpful to 5 out of 5 people

Had this card for 3 years with a limit of $4K. After returning from depositing $12k at my local WF branch, I logged in online and noticed my credit limit was reduced to $1200. I thought surely this was a mistake, as I always paid early, more than the minimum, had my mortgage with them and had over $50k in their bank. After getting the run around with customer service, I was finally connected with someone who could explain the limit decrease. I was told WF received a "Risk Alert" from Experian, and that is why my limit was reduced. This was the ONLY card out of my 9 cards that was reduced. Anyhoo, the next day, I closed my WF checking, savings, and Visa account and moved to Chase. I will NEVER do business with WF again! Stay away at all costs.......

wmstwo's review was:    

  Mar 07, 2012 Reply

wmstwo(1, 5)

Review by wmstwo

1 Contributions 5 People Helped

Helpful to 4 out of 4 people

I totally agree with you switching banks. They don't care about you as I was in kind of the same situation. They are not helful at all. I just use them to pay my bills now and moved all the rest of my savings to Ally.

shll519's reply was:    

  Jan 30, 2013

shll519(5, 10)

Review by shll519

5 Contributions 10 People Helped

Helpful to 4 out of 4 people

completely agree! I've had this card with them for 8 years. I had a limit at $6K and they reduced my CL to $300!!! it's rediculous. I have 3 other CC with a limit of at least $5K each, and WF just denied me of a $500 CL increase. AVOID THIS CARD!!!

trendstarter's reply was:    

  May 12, 2012

trendstarter(1, 4)

Review by trendstarter

1 Contributions 4 People Helped

Helpful to 5 out of 5 people

Wells Fargo Visa Signature card is a joke. After 21 years, they have raised my credit line, while keeping my APR over 20%. AND they set their due date the 28th instead of the end of the month to create artificial late fees.

Canceling my card immediately.

Aug 01, 2011 Reply
Helpful to 5 out of 5 people

This is a Great Secured Card to get. Only $18/year annual fee and no processing or monthly fees like Applied Bank / New Millenium / Public Savings Bank. I was given 6 months of 0% APR on my card when I first received it. As well this is the only card of all the others listed here that will transfer your account to Unsecured after successful usage (accounts are reviewed annually). As well you have the ability to design your own card design (ie send in pictures/artwork to appear on the front of your card) which is awesome. I highly reccommend this card to anyone looking to improve, rebuild or starting out with credit.

keithb0207's review was:    

  Mar 17, 2011 Reply

keithb0207(18, 47)

Top Contributor

Review by keithb0207

18 Contributions 47 People Helped

Top Contributor

High Fees and Interest Rates!!! Helpful to 4 out of 4 people

This card is a huge trap! I got it when I was in high school and am only now able to pay it off. I tried to keep the amount on the card low, but the interest rates would skyrocket what I owed!! This is my first credit card and I am only leaving it open to try and help my credit score get higher. The only thing you should buy with this card is a pack of bubble gum a month and INSTANTLY PAY IT OFF. If you don't pay it off quick, then they have you for a lot more money than you charged on it.

302rx7's review was:    

  Jul 07, 2013 Reply

302rx7(3, 13)

Review by 302rx7

3 Contributions 13 People Helped

Started secured about 4 years ago... Helpful to 4 out of 4 people

Started at $500 securedabout 4years ago, and now it is $3700 unsecured. This card helped me repair my credit, I now have a mortgage and three " real" credit cards (usaa Amex 2k, southwest premier rapid rewards signature visa 5k, and Marriott premier signature visa 5k) thank you Wells Fargo!

Jetully15's review was:    

  Mar 31, 2013 Reply

Jetully15(7, 33)

Review by Jetully15

7 Contributions 33 People Helped

Good card overall-650 CS Helpful to 4 out of 4 people

Got this Nov 2010, around 650 credit rating at the time. $7k CL. I banked with them so I think that helped, they actually offered it to me while I wsa on the phone with them. Anyways, I used it a few times and when the interest rate intro period expired, it sat in my drawer. Several months later I got a notice in the mail letting me know my card will get another 1 year 0% interest rate. So now I'm using it again, making sure I pay it down so my balance isnt that high, and when the second introductory 0% period ends, it'll go back in the drawer. LOL. But I did have one small issue when apparently I let a 1 cent balance rollover and got late charges. It was a total goof and WF took half the blame which I thought was fair. Got some of the charges lifted. It also has no annual fee. But about a year ago I dumped WF checking account and went with a credit union. No changes to my WF card during that time.

ecolodge's review was:    

  Nov 04, 2012 Reply

ecolodge(2, 4)

Review by ecolodge

2 Contributions 4 People Helped

Surpised by the limit Helpful to 4 out of 4 people

I applied for this card after closing the secured card since wells fargo won't graduate me. Was surprised to get a 7k limit. 

rohitasva's review was:    

  Nov 02, 2012 Reply

rohitasva(5, 16)

Review by rohitasva

5 Contributions 16 People Helped

Well Fargo Visa Helpful to 2 out of 2 people

Been a customer for 20+ years and my current credit limit is $20,000+.  Current balance $1200.  Request to transfer $3000 from a higher percentage card--DENIED.

Mar 13, 2014 Reply
Results 1-10 of 57Results per page: 5 | 10 | 25Page 1 of 6   Previous | Next

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Cardholder Rating Distribution (57)

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Company Overview

Headquartered in San Francisco, Wells Fargo Bank delivers banking, insurance, investments, mortgage, consumer finance, and commercial finance. Wells Fargo reaches consumers through over 9,000 branches, 12,000 ATMs, plus convenient online and mobile banking services. Wells Fargo Bank is a nationwide, diversified financial services company that has provided consumers with banking products for over 150 years. With $1.2 trillion in assets, Wells Fargo is known as one of the four biggest banks in the United States.

Founded in 1852, Wells Fargo is widely recognized by its logo of a six-horse Concord Coach that was widely used to “rush important business” for their customers. This dedication is a continued standard for current customers.

Wells Fargo Visa® Card

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