Citi Secured Mastercard full review
The beneficial feature of Citi Secured Mastercard® is its absence of an annual fee, making it a credit card that can assist in credit building if utilized responsibly.
Discover the Citi Secured Mastercard Credit Card
Citibank, founded in 1812 as the City Bank of New York, is a global bank that strives to responsibly provide financial services that enable growth and economic progress. With 2,649 branches in 19 countries, including 723 branches in the United States, Citibank offers a wide range of products to meet the needs of different financial profiles.
The Citi Secured Mastercard credit card is specifically designed for individuals who are starting fresh or trying to repair their damaged credit. It provides an opportunity to build credit and establish a positive credit history.
How Does the Citi Secured Mastercard Credit Card Work?
Upon meeting Citi’s credit qualification criteria, including income and debt review, you can apply for the Citi Secured Mastercard credit card. A security deposit is required, ranging from $200 to $2,500, and determines your credit limit. Your credit limit will always be equal to your security deposit, meaning a larger deposit grants a larger credit limit.
The Citi Secured Mastercard credit card offers several ways to help you build credit:
- Make at least the minimum payment on time every month.
- Have your credit history reported to credit bureaus.
- Access Citi’s helpful tools, including free FICO score, online bill pay, and account alerts.
Additionally, the card comes with account protection features, such as fraud alerts, $0 liability on unauthorized charges, and Citi Identity Theft Solutions.
Managing your credit card responsibly and making timely payments can lead to the improvement of your credit history. Citi reports your account information to major credit bureaus, and significant improvements can be noticeable within six months.
The Citi Secured Mastercard credit card does not have an annual membership fee.
Cardholder Benefits
Convenience
- Automatic Account Alerts: Receive email or mobile notifications about your balance levels, payments due, or exceeding your credit limit.
- Choose Your Payment Due Date: Enjoy the flexibility of paying your bill on any available due date.
- Digital Wallets: Shop with confidence online, within apps, and in stores using digital wallets.
- Contactless Pay: Safely make payments with a contactless-chip-enabled card.
Protection
Ensure your identity’s safety with Mastercard’s ID Theft Protection program, which monitors and alerts you of suspicious activity. The Citi Secured Mastercard credit card also offers $0 liability on unauthorized charges.
Support
Customer service representatives are available 24/7 to assist you with any queries or concerns.
Considerations of the Citi Secured Mastercard Credit Card
The Citi Secured Mastercard credit card does not offer rewards or cashback programs. Additionally, it has a relatively high variable APR of 25.49%.
How to Apply for the Citi Secured Mastercard Credit Card
The Citi Secured Mastercard credit card is a no-annual-fee card that can help you build credit when used responsibly. Unlike a debit card, it reports to major credit bureaus, allowing you to establish a credit history.
Accepted worldwide wherever Mastercard is welcomed, the Citi Secured Mastercard credit card is a valuable financial tool for those looking to rebuild their credit.
If you’re interested in applying for this card, click the green button to learn more.
