Wells Fargo Secured Credit Card
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Sometimes getting a credit card is very hard for people. If you have a bad credit history or no credit history at all you are sure to know just how hard it is to get even our first card. This is where opportunity of having the Wells Fargo Secured Credit Card comes into play. Not everyone gets approved as we all very well know. However, we know that the secured card options are generally available for such people who need credit or have bad credit and needing another chance. Depending on just how bad your luck is, or the qualifications of the banking institution you may or may not be able to get one of their secured card options. At least though, it's great to know that these types of options do exist.
As we take a look at this Wells Fargo Secured Credit Card, we realize that they do offer a pretty competitive APR for a card of this type. Usually, for cards that are helping people establish or rebuild credit, the APR's are higher than the offering of the Wells Fargo Secured Credit Card. With that, you should understand that they may actually have a bit stricter conditions that need to be met in order for them to issue you a card. They do also offer overdraft protection which is a very sharp double-edged sword. If you are very fortunate to get the Wells Fargo Secured Credit Card, beware to steer clear of having to use the overdraft protection. Overdraft protection can prove to be very expensive.
The longer you go without paying back in full the monies that are involved with your overdraft protection, you will incur many fees daily until you have paid them off. This is why we are seriously advising that you make for certain to take great care of your account so that you will be able to build or rebuild your creditworthiness in an easy way. You should already have enough expenses going than to also add paying of late fees and overdraft fees to your monthly billing expenses. Once the cycle of having to pay overdraft fees starts, if left unattended it can really become a downward spiral leading to the demise of your Wells Fargo Secured Credit Card.
To sum it up, the Wells Fargo Secured Credit Card is really a great tool for those who need to build or rebuild their creditworthiness. They really do offer the Wells Fargo Secured Credit Card with a great APR even though they aren't offering any promo or intro APR rates. While the Wells Fargo Secured Credit Card is a great card should you be lucky enough to get one, use it very carefully so that you will not have to worry about getting into the details of the late fees and interest rates on the cash advances. Cash advances with this card are also considered the monies that you use under your overdraft protection so beware of that. The better you are at making payments with the Wells Fargo Secured Credit Card, the better off you will be.