Wells Fargo Secured Credit Card Working
Wells Fargo secured credit card, The credit limit of US $ 500 to $ 25,000 depends on the number of funds you deposit in your mortgage account as collateral. Use your card to pay for everyday business expenses, such as office supplies and online payments. As with any credit card, you have to pay monthly.
- There is no annual fee.
- No foreign transaction fees.
- A cash advance or balance transfer fee may be required. After approval, please refer to your customer agreement for more details.
Interest rate 4
- Premium + 11.90% purchase
- Premium + 20.74% cash advance
- Purchase grace period up to 25 days
Agreement and recipient
This Commercial Guarantee MasterCard Credit Card Customer Agreement (“Agreement”) governs the Wells Fargo secured credit card, Commercial Guarantee MasterCard credit card account (“Account” or “Account”) and Wells Fargo Bank, NA (“Bank”, “We”, “We”) to provide to you (if you are a sole proprietorship) or your business organization (such sole owner or business organization is referred to as “customer“, “you” and “your” in this customer agreement).
Your written consent is bound by the terms of the agreement as amended from time to time, or the use of the account, the MasterCard® card issued for the account (“business card”), or the requirements of you or your company or cardholder contact (see below for definitions) ) The account will serve as proof of your acceptance of the terms and conditions of this agreement, including but not limited to applicable financial expenses and other expenses. Acceptance means that you agree to be bound by and abide by the following terms and conditions of this agreement
Wells Fargo secured credit card, the credit limit of the account is indicated in the separate letter provided to you when opening the account and in each regular monthly statement (bill) issued for the account. You may not use or allow the account to be used in a manner that exceeds the credit limit. You are responsible for repaying any unpaid prepayments for each account, including but not limited to prepayments that exceed their credit limit.
In addition, the cash credit limit of the account may be lower than the total credit limit. If your account has a cash credit limit, the amount will be shown on the regular monthly statement (bill). The Bank may choose to close the account or exercise one of the other remedial measures under this agreement and reduce the applicable credit limit without notifying you, except where notification is required by law.
How to upgrade unsecured credit card
We will regularly review your account and recent credit history to look for opportunities to upgrade to an unsecured commercial credit card. Over time, you may be eligible for responsible use.
- If and when to switch to an unsecured commercial credit card, it depends on many factors, including how you manage your secured commercial credit card account, other accounts, and other factors such as FICO credit scores, payment history, and credit card usage ratios. To the credit limit.
- There is no preset timetable for upgrading to an unsecured commercial credit card. No matter how long the account is open, upgrades will not be automatically provided or guaranteed.
- The bank may keep a guarantee for up to 30 days after the account is closed to cover transactions that may be deducted from the credit card account after the account is closed.
Protection and additional functions
- Use Wells Fargo Business Online to manage fees, payments, and transfers online.
- Use the business expense report provided by Wells Fargo Business Online to manage your expenses. This report allows you to monitor your consumption habits and set monthly goals. In addition, it will automatically classify your business card transactions into the expense category.
- Pay the bill directly with your card. Learn more about paying bills.
- Automatic payment of your credit card bill with automatic payment.
- Help avoid overdraft and refund check fees with overdraft protection. 7
- Use Card Design Studio services to showcase your business.
Protect your business
- Zero Liability Plan You will receive full compensation for unauthorized purchases made with your Secure Business credit card and report them in a timely manner.
- Alerts let you know about available credits and account activity.
- Chip technology adds another layer of fraud protection.
- Fraud Watch monitors your business account.
Related Apps: Amazon Business Credit Card