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Last updated on November 12th, 2021
- No annual fee
- Choose any available due date in the beginning, middle or end of the month
- Citi® Identity Theft Solutions and $0 liability on unauthorized charges help protect against fraud
- View balances and transactions or make payments using free online and mobile banking tools
- Regular Purchase APR: 22.49% variable based on the Prime Rate
- Balance Transfer APR: 22.49% 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: 25.24% 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
At a Glance
The Citi® Secured Mastercard® is a no-frills secured card that helps those with no credit history build theirs up, potentially leading to elaborate rewards-filled credit cards in due time.
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.
Though lacking in lavish perks, the Citi® Secured Credit Card does have certain features that are present in many other Citi® cards, such as $0 liability on unauthorized charges and the ability to set your payment due date any time of the month. You’ll also have free access to your FICO® score and a suite of online money management tools to help you keep tabs on your 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.
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.