Learn how to apply for the Citi Secured Mastercard

Applying for the Citi Secured Mastercard Credit Card: A Step-by-Step Guide

Are you interested in establishing or rebuilding your credit? The Citi Secured Mastercard credit card is an excellent option for achieving that goal. If you’re ready to begin your credit-building journey, here’s what you need to do:

Step 1: Submit a Security Deposit

To open a Citi Secured Mastercard, you’ll need to make a minimum security deposit of $200. Don’t worry, though—this deposit can be refunded when you close the card in good standing.

Step 2: Responsible Credit Usage

Once you have your Citi Secured Mastercard, use it responsibly by making timely payments and borrowing responsibly. This will help you establish a positive credit history.

Step 3: Access to FICO score

Citi provides cardholders with free access to their FICO score online. Monitoring your score is crucial for managing your credit history and taking control of your financial future.

Step 4: Enjoy Secure Card Benefits

In addition to building credit, Citi Secured Mastercard cardmembers can enjoy the following benefits:

• Accepted anywhere Mastercard® is accepted worldwide
• No annual membership fee
• Tools to help you stay on track, including Auto Pay, Account Alerts, and Flexible Payment due dates

Step 5: Meet Eligibility Criteria

The Citi Secured Mastercard is designed for individuals with little to no credit history. To be approved, you must meet Citi’s credit qualification criteria, which include:

• Review of income, debt, and credit information
• No pending bankruptcy or bankruptcy history within the past two years

Remember, approval is contingent upon the information provided in your application and your available credit history.

Step 6: Apply Online

Applying for the Citi Secured Mastercard is fast and easy. By completing the online application, you can receive a response in as little as 60 seconds. If approved, you’ll have 14 days to provide your bank account details for the security deposit.

Ready to begin your credit-building journey? Apply for the Citi Secured Mastercard here.

Is the Citi Secured Mastercard Worth it?

If you’re focused on building or rebuilding your credit, the Citi Secured Mastercard is a fantastic option. However, if you’re looking for a rewards credit card, you may want to explore other options. The Citi Secured Mastercard prioritizes credit-building rather than rewards.

Ultimately, the Citi Secured Mastercard offers a standard security deposit and competitive interest rate, making it a reliable tool for building credit when used responsibly.

Citi Secured Mastercard vs Pink Credit Card

Both the Citi Secured Mastercard and the Pink Credit Card cater to specific needs. The Citi Secured Mastercard is designed for individuals looking to rebuild their credit, while the Pink Credit Card targets frequent shoppers at Victoria’s Secret.

For Victoria’s Secret regulars, the Pink Credit Card can provide savings, bonuses, surprise gifts, and coupons. Additionally, it can help build credit if you pay your bill on time. However, for individuals without a specific affiliation with Victoria’s Secret, alternative credit cards may be more suitable for their needs.

Citi Secured Mastercard Credit Card Pros:

• Minimum deposit of $200
• $0 fraud liability on unauthorized charges
• $0 annual fee
• Free monthly FICO credit scores

Pink Credit Card Pros:

• 2% rewards on dining, travel, and streaming services
• Surprise gifts and coupons
• Free shipping
• $25 off your first online purchase

Written by

Claire Harrison