Credit Limit and Security Deposit: The Citi® Secured Mastercard requires a security deposit, which becomes the card’s credit limit. This feature allows cardholders to control their spending while establishing positive credit behavior.
Annual Fee: This card typically comes with a modest annual fee, making it an affordable option for those looking to manage their credit without breaking the bank.
Interest Rates: The card comes with an annual percentage rate (APR) that is competitive within the secured credit card market. It is essential for cardholders to pay attention to the APR, especially if they plan to carry a balance.
Credit Building Features: Citi reports card activity to the major credit bureaus, aiding cardholders in building a positive credit history over time. Responsible use of the card, such as timely payments, can contribute to an improved credit score.
Online Tools and Resources: Citi provides online tools and resources to help cardholders manage their account effectively. These may include mobile apps, account alerts, and budgeting tools to support financial responsibility.
Citi® Secured Mastercard
Welcome Bonus
N/A
N/A
Annual Fee
$0
Annual Rewards
N/A
N/A
Rewards on Approval
N/A
Interest rates
Purchase Rates
27.74%
Cash Advance Rates
29.99%
Balance Transfer Rates
27.74%
Table of Contents
Citi® Secured Mastercard
The Citi® Secured Mastercard is a reliable financial tool designed to help individuals build or rebuild their credit history. Whether you're establishing credit for the first time or working to improve a less-than-perfect credit score, this secured credit card offers a structured approach to responsible credit use.
Pros
- Credit Building: The primary advantage of this card is its focus on helping individuals build or rebuild their credit.
- Security Deposit: The security deposit system allows cardholders to set their credit limit, providing a sense of control over spending.
- Report to Credit Bureaus: Positive card activity is reported to major credit bureaus, contributing to the establishment or improvement of credit scores.
- Online Account Management: Citi's online tools and resources facilitate convenient account management, enhancing the overall user experience.
Cons
- Annual Fee: While relatively low, the annual fee may be a drawback for individuals seeking a secured card with no annual fee.
- Security Deposit Requirement: The necessity for a security deposit may be a barrier for some potential cardholders who may not have the upfront funds.
- Limited Rewards: Unlike some other credit cards, the Citi® Secured Mastercard may not offer rewards or cashback incentives.
Details & Eligibility
- N/A
- N/A
- N/A
- $0
- N/A
- Mastercard
- No
- 27.74%
- 29.99%
- 27.74%
- N/A
- N/A
- N/A
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