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Wells Fargo Business Secured Card reporting

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Red1Blue
Super Contributor

Wells Fargo Business Secured Card reporting

Does Wells Fargo Business Secured card still report to Business Credit Reporting Agencies. I remember reading some place they stopped reporting to commerical Credit Reporting agencies like D&B and Experian Business. Do they still report ? Is it worth getting their secured business credit card?

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Anonymous
Not applicable

Re: Wells Fargo Business Secured Card reporting

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Red1Blue
Super Contributor

Re: Wells Fargo Business Secured Card reporting


@Anonymous wrote:

https://ficoforums.myfico.com/t5/Business-Credit/Which-Bank-Biz-Cards-Report-To-Biz-Credit-Reports/t... 


Hi @Anonymous, I saw that. Just few days ago I read some place that Wells stopped reporting. Not sure how true that is. I am going to call them on Tuesday and find out. Also in order to open the secured card we need to maintain a checking or savings account with them. Not sure if it is really worth the efforts of going through all these hoops to get a secured card from Wells. I want to see what other options are available for secured business cards before I jump into Wells Band Wagon.

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Conceptual23
Frequent Contributor

Re: Wells Fargo Business Secured Card reporting

I'm curious about this as well.

Starting FICO 8s | 06/2018: EX 601 ✦ EQ 605 ✦ TU 590
Current FICO 8s | 9/2022: EX 732 ✦ EQ 739✦ TU 743
2023 Goal Score: 760+





Business Cards:


Message 4 of 5
Anonymous
Not applicable

Re: Wells Fargo Business Secured Card reporting

As far as I'm concerened WF Secured seems to be the best option, as least from what I've read, for secure Biz cards with no AF. 

I don't know if you've read this post from 4/13/20, but is was pretty informative. 

 

As for the reporting issue I'll assume that they still do until more solid DP's point to otherwise. Often times if you're not using said card then it will not report. 

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