Credit Cards

Citi® Secured Mastercard® Credit Card review

Unsure if the Citi® Secured Mastercard® Credit Card is the right card for you? Find out everything you need to know in our comprehensive review.

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by Aline Barbosa

Published on 02/13/2023

Citi® Secured Mastercard® Credit Card: Build a healthy score with no annual fee and a low security deposit

This credit card will help you build credit. Source: The Post New.

Do you want to build up your credit score and get the tools to manage your finances? With the Citi® Secured Mastercard® Credit Card, you can.

Citi® Secured Mastercard® Credit Card

Citi® Secured Mastercard® Credit Card application

The Citi® Secured Mastercard® Card is a great option for people who are looking to build or rebuild their credit history. See how to apply!

This card offers a great way to start building a positive record, while establishing yourself as someone financially responsible.

  • Credit Score: You can qualify with no credit or a limited credit history.
  • APR: A variable 26.99% APR applies with the Citi® Secured Mastercard®. 
  • Annual Fee: Build a healthy score free of annual fees.
  • Fees: The Citi® Secured Mastercard® has a 3% foreign transaction fee. Also, a 5% cash advance fee, and a max late fee up to $41. 
  • Welcome bonus: There’s no current promotion.
  • Rewards: The Citi® Secured offers no rewards on purchases.

With this card, you will have access to Citi’s insightful digital banking platforms and customer service resources that are ready to help anytime.

Plus, with no annual fee, this credit card can be just what you need for ensured success when managing money more confidently.

So keep reading our review to find out how the Citi® Secured Mastercard® Credit Card can open up a whole new world of financial freedom and give you back control over your future!

Citi® Secured Mastercard® Credit Card: how does it work?

The Citi® Secured Mastercard® Credit Card is the ideal way to build, rebuild or establish your credit.

It works just like a regular unsecured credit card but requires you to place a security deposit of at least $200 that will work as your spending limit.

Citi® reports your positive payment activity to all three major credit bureaus, making it one of the most helpful ways to establish and maintain a credit profile.

There’s no annual fee, which means the card is a helpful tool that’s inexpensive to own. 

With this card, you can enjoy Citi’s 24/7 fraud protection and false charges assistance, as well as great features such as automatic account alerts, contactless payments, and digital wallets.

Significant benefits and disadvantages you may find

Use this credit card responsibly, and you’ll build your credit. Source: Canva.

Understanding the advantages and disadvantages of this type of credit card can help you decide if it’s the right fit for your financial needs. Check the highs and lowlights of the  Citi® Secured Mastercard® Credit Card below. 

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Benefits

  • You can qualify for the  Citi® Secured with a limited credit history;
  • Citi® reports all account activity to the three main credit bureaus;
  • Relatively low security deposit;
  • The Citi® Secured has no monthly or annual fee.

Disadvantages

  • Having an existing bad score limits your approval odds;
  • The Citi® Secured Mastercard® Credit Card offers no rewards program;
  • The APR is on the high side, even amongst secured credit cards. 

Is a good credit score required for applicants?

This is a secured credit card designed to help people achieve a better rating. So if you’re starting out your credit life and have no credit or a limited credit history, you should be able to get this card.

However, if you have a bad credit score or filed for bankruptcy in the past two years, your approval odds aren’t too great. Citi will review your income and list of pending debt before approving your request. 

Learn how to apply and get a Citi® Secured Mastercard® Credit Card

So, are you ready to take the next step and start building credit? Applying for a Citi® Secured Mastercard® Credit Card can be a great way to jumpstart your financial future.

With responsible use, this card provides an easy and secure way to establish good credit history while also giving access to cash advances when needed. Check the link below to see how simple it is to apply.

Citi® Secured Mastercard® Credit Card

Citi® Secured Mastercard® Credit Card application

The Citi® Secured Mastercard® Card is a great option for people who are looking to build or rebuild their credit history. See how to apply!

About the author

Aline Barbosa

Aline Barbosa is an editor, writer and learning-enthusiast. Passionate about music, books and human behavior. Curious about the unknown. Believer that learning is a life-long process.

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