Wells Fargo Business Secured Credit Card review: Earn business rewards with no credit or bad credit
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Snapshot
3.5
Bottom line
The Wells Fargo Business Secured Credit Card is a decent option for businesses with no credit or bad credit that can use the card to earn rewards while potentially building or rebuilding their business credit scores.
Intro offer
N/A
Rewards Rate
1 Point - 1.5%
Annual fee
$0
Regular APR
Prime + 11.90% on purchases
3.5
Bankrate score
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As of September 2022, Wells Fargo has discontinued the Wells Fargo Business Secured Card. The only business card Wells Fargo currently offers is the Wells Fargo Signify Business Cash℠ Card*, which is an unsecured card, so we recommend you consider other business secured cards instead.
Wells Fargo Business Secured Credit Card overview
Opening a new business credit card can be challenging for businesses with no credit or bad credit. One benefit of the Wells Fargo Business Secured Credit Card was that it was made available to any business, even those with a history of late or missed payments.
This card stood out from competitors thanks to a flexible rewards program, no annual fee and its relatively high credit limit (if you had the funds to deposit). Since this was a secured credit card, business owners had to deposit funds as collateral (between $500 and $25,000). This card was an excellent choice for business owners who had struggled to get approved for a business credit card or who wanted to build business credit while earning rewards.
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Rewards
- 1.5 percent cash back or 1 point per $1 spent and 1,000 bonus points for spending $1,000 each month
Expert Appraisal: Typical
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Welcome offer
- None
Expert Appraisal: Weak
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Rates and fees
- No annual fee
- No foreign transaction fee
- 15.15 percent APR
- Late payment fee: up to $50
- Returned payment fee: $29
- Cash advance APR: 23.99 percent
Expert Appraisal: Unimpressive
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Other cardholder perks
- Flexible credit limits
- Overdraft protection
- Business credit building
Expert Appraisal: Typical
Alternatives to the Wells Fargo Business Secured
Even though the Wells Fargo Business Secured is no longer on the market, there are other options available that offer comparable rewards rates or credit-building opportunities.

Wells Fargo Business Secured Credit Card
Annual fee
Intro offer
Rewards rate
Earn 1.5% cash back on qualifying purchases. Earn 1 point on every $1 spent and receive 1,000 bonus points every billing cycle when you spend at least $1,000 on qualifying purchases.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Business Advantage Unlimited Cash Rewards Secured Business Credit Card
Annual fee
Intro offer
Rewards rate
Earn 1.5% cash back on every purchase, every time. No annual cap and rewards don't expire as long as your account remains open.
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Valley Visa® Secured Business Credit Card
Annual fee
Intro offer
Rewards rate
Recommended Credit Score
A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.
Bankrate’s take: Business Secured's closure is a loss to the secured business card market
Compared to other business secured credit cards for bad credit and no credit, the Wells Fargo Business Secured card was a great choice; discontinuing the card leaves a gap in the market for businesses that have limited credit options or that are looking to build their credit. While alternatives like the Business Advantage Unlimited Cash Rewards Secured Card and Valley Bank Visa still exist, business owners should carefully consider each alternative to determine which card best meets their needs.
All information about the Wells Fargo Business Secured Credit Card, Bank of America Business Advantage Unlimited Cash Rewards Secured Business Credit Card and Valley Bank Visa® Secured Business Credit Card has been collected independently by Bankrate.com and has not been reviewed or approved by the issuer.
How we rated this card
Our proprietary card rating system takes into account a mix of factors when scoring business credit cards, including each card’s rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more.
We analyzed over 50 of the most popular business credit cards and scored each based on how its key features stacked up compared to those of other cards in its category.
Here are some of the key factors that gave this card its score:
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.