2019 – Wells Fargo Secured Card “How it Works” English

♪ ♪ Whether you’re just starting to build credit or you need to rebuild, it’s important to put the right pieces in place. The Wells Fargo Secured Credit Card can help. It works like other credit cards. You can use it to make purchases in
stores, at restaurants, online, anywhere Visa cards are accepted. Like other credit cards, you receive a monthly bill that must be paid on time. How does it help build credit? Well, unlike debit and prepaid, a Secured Credit Card helps build credit history by reporting
how much you owe, when you pay, and when you don’t
pay to the credit bureaus, the companies that calculate your credit score. The Secured Credit Card requires a security deposit of at least three hundred dollars. Your credit limit is the maximum
amount you can charge is equal to that security deposit but it isn’t used to pay your bill. It is set aside in a separate collateral account and refunded if your account is closed or upgraded to an unsecured credit card. When it comes to upgrading
to an unsecured credit card, here are some important facts. Not all accounts will qualify for upgrade to an unsecured credit card. Account holders must be U.S. citizens or permanent resident aliens to be eligible for upgrade. Upgrade timing will vary for those who qualify. ♪ ♪ Remember, all credit cards
charge interest and have fees. Review the terms and conditions at wellsfargo.com/credit-cards/secured/terms before deciding whether the Wells Fargo
Secured Credit Card is right for you. Credit Cards subject to credit qualification. To learn more about credit and how it works, visit wellsfargo.com/pathtocredit. ♪ ♪

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