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Citi’s Secured Mastercard allows those with sub-par credit scores and credit histories a chance to take control and build their credit. Just by making everyday purchases and paying your bills on time, you’ll be able to see improvements within even a month! For those of you that aren’t familiar as to how a secured card works; you’d need to provide a security deposit between $200 – $2,500 when submitting an application.
Once your security deposit is received and you are approved, your credit limit will be equal to the amount of the security deposit you’ve submitted. Note that you must meet their credit qualification criteria for this card, which includes reviewing of your income and your debt. You must not have any bankruptcy history within the last two years.
Citi Secured Mastercard Summary
Citi Secured Mastercard Features
- No annual fee
- Reports to all three credit bureaus
- A security deposit is required for this product (minimum $200)
- Citi® Identity Theft Solutions
- Worldwide Travel Accident Insurance
- Extended Warranty
- $0 Liability on Unauthorized Charges
Conclusion
There isn’t much to lean on in terms of rewards or any significant benefits with the Citi Secured Mastercard Credit Card, however, the card does offer you just what it was designed for; a platform for building your credit history. provide a security deposit between $200 – $2,500 when submitting an application and that would become your credit line.
Note that responsible usage is a necessity you want to make and low utilization as well. Using the card once a month can firmly build your credit score, but it will take time. I would try my odds with the Discover it® Secured Card before any secured card if in the event of looking for a secured card. Otherwise, find out which card is fit for you by checking out our complete list of Credit Card Promotions today!
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