Citi® Secured Mastercard®

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Last updated on May 10th, 2022

Citi® Secured Mastercard®

Citi® Secured Mastercard®
  • Regular Purchase APR 23.24% variable based on the Prime Rate
  • Balance Transfer APR 23.24% variable based on the Prime Rate
  • Cash Advance APR 25.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit NeededBestCards.com uses a variation of FICO Score 8, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card.
    No Credit Required
  • Processing Network Mastercard
Best Benefits
  • The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly
  • Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online
  • Use your card anywhere Mastercard® is accepted - worldwide
  • A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200)
  • Get help staying on track with Auto Pay and account alerts
  • With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month
  • Manage your account 24/7 online, by phone, or in our mobile app
  • The standard variable APR for Citi Flex Plan is 22.74%. Citi Flex Plan offers are made available at Citi’s discretion
Rates & Fees
  • Regular Purchase APR: 23.24% variable based on the Prime Rate
  • Balance Transfer APR: 23.24% variable based on the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 25.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: Up to 29.99% variable based on your creditworthiness and the Prime Rate
  • Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40
  • Minimum Deposit Required: $200
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At a Glance

The Citi® Secured Mastercard® is a basic secured credit card that provides all the benefits of a Mastercard credit card but with the credit building security of a cash deposit. The card features no annual fee or maintenance fees.

Ideal for Those Who:

  • Have no credit history and want to start building up your credit score
  • Want free fraud monitoring and the ability to track your expenses online 24/7
  • Do not want to pay an annual fee
  • Want a card that reports to the major credit bureaus

Citi® Secured Mastercard® Review

As critical as it is to have decent credit when buying big-ticket items such as vehicles and real estate, it’s good to know that there are cards like the Citi® Secured Mastercard® to help you get on the right path to your goals.

The Citibank secured card foregoes the convoluted category selection prevalent in the majority of credit cards in favor of a streamlined approach that helps new cardholders build up their credit history and learn the responsible behaviors that will benefit them in their financial future. Upon approval, simply make a deposit between $200 and $2,500 to secure your credit line, pay the balance in full each month, and watch your credit score soar.

Citi Secured Competition

The Citi® Secured Mastercard® faces tough competition in the bad credit market, which is teaming with excellent card offers. Here is how the Citi secured credit card compares to other leading offers from our partners:

citi secured mastercard

Citi® Secured Mastercard®

  • Monthly reporting to the major credit bureaus
  • $200 minimum deposit
  • No annual fee
  • Build credit while learning  with OpenSky Knowledge Base
  • Monthly reporting to the major credit bureaus
  • $200 minimum deposit
  • $35 annual fee
  • Earn up to 2% back on select purchases and 1% back on all other purchases
  • Monthly reporting to the major credit bureaus
  • Ideal for those new to credit in the U.S.
  • No annual fee
  • 0% APR for 6 months from account opening date on purchases
  • Monthly reporting to the major credit bureaus
  • $200 minimum deposit
  • $49 annual fee
  • Monthly reporting to the major credit bureaus
  • $200 minimum deposit
  • Credit line doubles to $400 with on-time payments – with no additional deposit
  • $36 annual fee

Full Mastercard and Citibank Features

The Citi Secured Mastercard might require a security deposit – but don’t mistake this card for anything other than a full-fledged Mastercard credit card. This means cardholders can use it anywhere the Mastercard logo is accepted. Mastercard can be used in over 212 countries worldwide – more than American Express, Visa, or Discover.

Users can anticipate a full suite of Mastercard safety protections, including:

  • Zero Fraud Liability Protection: Cardholders pay nothing if their card is subject to unauthorized use or theft.
  • ID Theft Protection: Complimentary credit report monitoring, alerting cardholders to any changes or fraud concerns.
  • Mastercard Global Services: Emergency assistance nearly anywhere in the world, 24/7. Services include lost card reporting and replacement, emergency cash disbursement, and more.

Cardholders also gain access to Citi Entertainment. This program provides exclusive access to entertainment, concerts, sporting events, and dining purchase opportunities. Through this benefit, cardholders can buy concert pre-sale tickets before they go on sale to the general public, VIP packages that are exclusive to Citi®, and they can even earn complimentary movie screening passes.

Cardholders also have free access to their FICO® score and a suite of online money management tools to help keep tabs on expenses.

How to Get the Most Out of the Citi Secured Card

Secured cards offer many of the same features. As such, there are some basic rules for getting the absolute most out of cards like the Citibank Secured Mastercard. These rules include using the card to make small purchases, making regular payments each month, and always trying to pay your balance off in full.

Following these tips, your credit score can rise quickly, allowing you to graduate to other credit card offers from Citi – or even another card issuer.

FAQs About the Citibank Secured Mastercard

Here are some of the most commonly asked questions regarding the Citi Secured credit card:

  • Yes – sort of. The Citi Secured Mastercard is a secured credit card, meaning it requires a security deposit to open. That security deposit also acts as the credit line. 
  • Secured card credit lines are not the same as prepaid, as the minimum due on the  credit limit must be repaid each month. Prepaid cards, on the other hand, are replenishable and don’t require repaying.
  • Citi helps build credit history with monthly reporting to all 3 major credit bureaus – Experian, Equifax, and TransUnion.
    • Yes. With responsible use a Citi Secured Mastercard may be upgraded to another Citi personal credit card. Keep in mind that upgrading from secured to unsecured will result in a refund of your initial deposit (minus any outstanding payments). Additionally, you will not be eligible for any sign-up or wlecome offers with your new card.

Card Availability

Citibank credit, debit, and banking products are available in all 50 U.S. states plus the District of Columbia.

Citibank Ratings

How does the Citi Secured Card stack up? Here are a selection of expert reviews for the card, as well as an overview of Citi as a bank:

4/5
4/5
2.5/5

User Rating

4.3/5

Should You Apply for the Citi® Secured Mastercard®?

Overall the Citi® Secured Mastercard® is a solid choice for those looking to either establish their credit for the first time or repair a less-than-stellar credit score.

Other cards to consider include options from First Progress, OpenSky, Discover, and Capital One. The First Progress Platinum Prestige Mastercard® features an exceptional 9.99% APR and requires a minimum deposit of $200. Popular options from major banks include the Citi Secured Mastercard and the Capital One Platinum Secured Card.

The information related to Citi® Secured Mastercard® has been collected by BestCards.com and has not been reviewed or provided by the issuer or provider of this product or service.