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Well Fargo secured credit card graduation is a program that enables one to get their first card from Wells Fargo. Now, you may ask why? I have a few reasons for it. One, it helps me to be a customer in good standing. Two, I know what I am getting into. Three, it gets me familiar with a program that has grown in popularity.

A couple of years back when I graduated, the only way for me to get a card was to go through an application called the 'hardship' process. I had to explain my background to Wells Fargo so they could see what kind of risk I was. They told me my situation and that is where I graduated from. Then I just went out there and started looking for a card with no sense of direction.

The problem with that is people lie about their history in an attempt to get a card. I never lie about my background, but I sure did try to fudge the numbers a little bit. Now, you don't lie when applying for a secured credit card. I never imagined I would be applying for a Wells Fargo loan when I never wanted one in the first place. That being said, it can happen. I am not saying it will happen but if it does, at least you know where you are going.

Now, I am not suggesting that a student lie to get a loan. No one is going to lie on their application for any reason. There are some things a student should consider though, before signing up for a financial aid program. For one, knowing the difference between a secured and an unsecured credit card is important.

Some people are not aware that there is a difference. Secured loans are given to people with good credit. Unsecured ones are given to people with bad credit.

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Now that you know the difference between the two types of cards, it is time to start applying for them. When I say applying, I mean actually going to a bank or the Wells Fargo website and filling out an application. There is a specific procedure that must be followed in order to qualify for either one. Know that for every one hundred dollars you borrow, you will be charged one percent interest. The good news is that this rate is often very low.

The other thing you should know is that the qualifications for this card graduation program are almost endless. Students may have to have a low credit score, and have not borrowed more than fifteen thousand dollars in the past two years. They also may have to volunteer at a church, or work in the credit card company's store. It does take a lot of work, but most graduates are very happy with their new jobs and grateful for the money they were able to borrow while attending college. Many graduates will continue to work in credit card companies for many years to come.

Now, let us go over the Wells Fargo loan. It starts out like most student loans. You will need to gather your documents so you can fill out the application. Your loan will then be sent to a Wells Fargo office. You will need to sign the loan papers, and pay the money back by a certain date. These loans are usually due in three months.

This type of card allows graduates to build up their credit history and prove they are responsible when it comes to paying back credit card debt. Graduates will have a hard time acquiring an unsecured card if they do not have this type of secured one available to them. When a person graduates, they will find that there are many lenders out there that are willing to give them a chance. Most of these lenders specialize in giving out one of these cards only.

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What should you know about the Wells Fargo Secured Credit Card Graduation program? The one big difference is that this type of card will not allow you to put any cash down. This means you can't borrow money using this card, only use it to purchase items you plan on storing with your room of residence. The good news is that you will still be making payments. If you run into a situation where you need to use your card and you have money, you can use your emergency funds or take a cash advance from your checking account to pay for your purchases.

Graduates will have to go through a credit check process before they are granted one of these cards. It is possible that some banks will not approve someone because of past credit issues. However, graduates of this program have reported that their experiences did not deter them from applying for one of these cards. It is important to remember that one of the requirements to get a Wells Fargo Secured Credit Card Graduation is having a job. While there may be other factors involved in getting one of these, including good credit, most graduates say that getting this one is one of the best decisions they have made.

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