Guide to Building Credit with Wells Fargo Credit Cards

Best Wells Fargo credit cards to build credit

Wells Fargo no longer has a secured credit card available for new applicants, which is typically the best type of credit card for those with poor or fair credit looking for a card to help them improve. Wells Fargo needs a student credit card for younger consumers looking to build credit with a first credit card.

However, Wells Fargo does offer a few credit cards that may be an option for consumers with a credit score of at least 670-700, which can help them build credit while also earning rewards.

Wells Fargo Active Cash Credit Card

Best for: Earning cash back rewards while building credit

Features and benefits:

• Up to $600 of cell phone protection against damage or theft.
• Free FICO credit score access.
• Auto rental collision damage waiver.
• Travel and emergency assistance services.
• Roadside dispatch.
• 24/7 Visa Signature Concierge services.
• Visa Signature Hotel Collection benefits.

Wells Fargo Autograph Card

Best for: Earning more points on dining, gas, and travel while building credit

Features and benefits:

• Up to $600 of cell phone protection against damage or theft.
• Auto rental collision damage waiver.
• Travel and emergency services assistance.
• Roadside dispatch.
• 24/7 Visa Signature Concierge services.
• Visa Signature Hotel Collection benefits.

Wells Fargo Reflect Credit Card

Best for: Debt consolidation or making a large purchase without interest

Features and benefits:

• Up to $600 of cell phone protection against damage or theft.
• Roadside dispatch.
• Auto rental collision damage waiver.
• Free FICO credit score access.

Wells Fargo Bilt Mastercard

Best for: Earning rewards on paying rent and other purchases

Features and benefits:

• Trip cancellation and interruption reimbursement.
• Trip delay protection.
• Auto rental collision damage waiver.
• Lyft credits.
• 24/7 reservation concierge services through the World Elite Mastercard Concierge.
• Up to $800 of cell phone protection against damage or theft.
• Purchase theft and damage protection.
• Earn points on rent payments without using available credit.

How to apply and get approved for a Wells Fargo credit card

Follow this step-by-step guide on applying for a Wells Fargo credit card:

1. Check your credit score: Before applying, if you have a credit score, you’ll want to check it to see if you meet the minimum requirements for the card you want.
2. Research Wells Fargo credit cards: Visit the Wells Fargo website to explore the different credit card options available. Compare the features, benefits, fees, and research card offers to find one that suits your needs and financial circumstances.
3. Choose a card: Select the Wells Fargo credit that best fits your financial goals and lifestyle. Consider factors such as rewards programs, annual fees, and interest rates. Also, consider your credit score and whether you’re getting the card to help you build or improve your credit.
4. Click “Apply Now”: Once you’ve chosen a card, click on the “Apply Now” button on the Wells Fargo website to start the application process.
5. Fill Out the application: Provide the required information, including your name, address, Social Security number, employment status, income, and monthly housing payment.
6. Review and submit: Double-check the information you entered to ensure accuracy. Then, submit your application.
7. Wait for approval: Wells Fargo will review your application and credit history to determine if you qualify for the card. You may receive an instant decision or have to wait a few days for a decision.
8. Receive your card: If your application is approved, you will receive your new Wells Fargo credit card in the mail within 7-10 business days.

Whether you’re applying for your first credit card or getting a card to help you build or improve your credit score, following these tips can help increase your chances of approval:

1. Apply for a secured card: If you have limited or no credit history, consider applying for a secured credit card to build credit before applying for a Wells Fargo credit card.
2. Maintain a stable income: Lenders look for a steady income when considering credit card applications. Ensure you have a stable source of income to demonstrate your ability to repay debt.
3. Pay bills on time: Establish a history of on-time payments for bills and other credit accounts to demonstrate responsible financial behavior.
4. Keep credit utilization low: Aim to use at most 30% of your available credit to avoid appearing overextended to lenders.
5. Review your credit report regularly: Check your credit report for errors and dispute any inaccuracies that may negatively impact your credit score.
6. Consider an authorized user: An authorized user has been added to a credit card account by the card’s owner, known as the primary cardholder. Being an authorized user can help you establish a credit history or build credit, but payments and usage can impact both parties’ credit reports.

Strategies to build credit with your Wells Fargo card

1. Use your card regularly: Make small, regular purchases with your Wells Fargo credit card and pay off the balance in full each month. This demonstrates responsible credit usage and helps build a positive credit history.
2. Pay your bills on time: Always pay your credit card bill on or before the due date to avoid late fees and negative marks on your credit report. Set up automatic payments to ensure you never miss one.
3. Keep your balances low: Keep your credit card balances below 30% of your credit limit. It shows lenders that you can manage credit responsibly and help improve your credit score.
4. Monitor your credit report: Regularly check your credit report for errors or unauthorized activity. Report any discrepancies to the credit bureau to maintain an accurate credit history.
5. Avoid opening too Many accounts: While having multiple credit accounts can diversify your credit mix, opening too many accounts simultaneously can lower your average account age. Because each credit card application generates a hard inquiry on your credit report, it can temporarily lower your credit score.
6. Keep your account open: Avoid closing your Wells Fargo credit card account or any other account, especially your oldest account. The length of your credit history is a factor in your credit score, so keeping accounts open for a long time can positively impact your credit.
7. Avoid cash advances: Cash advances typically come with high fees and interest rates, so it’s best to avoid using your credit card for cash advances unless necessary.
8. Review your statements: Regularly review your Wells Fargo credit card statements to check for unauthorized charges or errors. Reporting any discrepancies can help protect your credit and finances.

Bottom Line

The bottom line is that using Wells Fargo credit cards wisely can be a powerful tool for building credit. You can establish a positive credit history by understanding your credit score, managing your credit utilization, and making timely payments. Wells Fargo offers a range of credit cards to suit different needs, so choosing the right card and using it responsibly can help you build credit and improve your financial health.

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