Business

Wells Fargo Business Secured Credit Card Review

Wells Fargo Business Secured Credit Card Benefits

The Wells Fargo Business Secured Credit Card provides additional benefits including:

  • Access to Wells Fargo Business Online
  • Access to Business Spending Report and the Card Design Studio service
  • Overdraft protection if you link your card to a Wells Fargo business checking account

Maximizing Rewards

The way to get the most out of your benefits with the Wells Fargo Business Secured Credit Card is to charge as many of your business expenses as possible on the card. If you choose the points rewards program, try to make at least $1,000 in purchases per month on the card to earn your 1,000 monthly bonus points.

Comparison to Other Cards

Annual fee: The Wells Fargo Business Secured Credit Card charges a $0 annual fee. The Capital One Spark Classic for Business requires a $0 annual fee.

Rewards: The Wells Fargo Business Secured Credit Card allows you to choose whether you want to earn 1.5% for every dollar in purchases with no limits or to earn one point for every dollar in purchases. With the points option, you’ll earn 1,000 bonus points for every month your company makes $1,000 in purchases on the card. Capital One Spark Classic for Business cardholders earn 1% cash back on every purchase.

Sign-up bonus: Neither card offers a sign-up bonus.

Benefits: The Wells Fargo Business Secured Credit Card provides benefits including access to Wells Fargo Business Online, the Business Spending Report and the Card Design Studio service. You also receive overdraft protection if you link your card to a Wells Fargo business checking account. With the Capital One Spark Classic for Business, you’ll get access to benefits such as an auto rental collision damage waiver, purchase security, extended warranty protection, and travel and emergency assistance services.

Annual fee: The Wells Fargo Business Secured Credit Card requires a $0 annual fee per card with up to 10 employee cards. The Secured Mastercard from Capital One does not require an annual fee.

Rewards: With the Wells Fargo Business Secured Credit Card, you get to choose whether you want to earn 1.5% for every dollar in purchases with no limits or to earn one point for every dollar in purchases. With the points option, you’ll receive 1,000 bonus points for every month your company makes $1,000 in purchases on the card. The Secured Mastercard from Capital One does not offer a rewards program.

Sign-up bonus: Neither card offers a sign-up bonus.

Benefits: Both cards are designed to help you build or repair your credit. Wells Fargo Business Secured Credit Card offers valuable benefits including access to Wells Fargo Business Online, the Business Spending Report and the Card Design Studio service. You also receive overdraft protection if you link your card to a Wells Fargo business checking account. Secured Mastercard from Capital One holders receive access to emergency card services, fraud coverage and Mastercard identity theft protection.

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