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Citi® Secured Mastercard® review: Build your credit history from scratch

Do you want to create or improve your credit history? Check out the Citi Secured Mastercard review. This card can help you establish a positive credit history. So, read on!

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Citi® Secured Mastercard®: No annual fee and free access to your FICO score

Citi® Secured Mastercard®
Read our Citi® Secured Mastercard® review! Source: Citi®

Find out how to build or rebuild your credit score with a $0 annual fee on our Citi® Secured Mastercard® review post.

card

Credit Card

Citi® Secured Mastercard®

secured card no annual fee

No annual fee. Build credit.

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Look at some of this card’s benefits and drawbacks so you can start your credit history. Read on to learn more!

  • Credit Score: no minimum credit score;
  • Annual Fee: $0;
  • Regular APR: 26.74% variable APR for purchases and balance transfers; 29.49% variable APR for cash advances;
  • Welcome bonus: no welcome bonus;
  • Rewards: no rewards.

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Citi® Secured Mastercard®: how does it work?

Cell phone on a yellow background, showring a "donE" symbol on the screen
Learn how this secured card can help you improve your score. Source: Unsplash

Citi® Secured Mastercard® is a credit card that requires a security deposit (from $200-$2500), which acts as your credit limit.

Unlike a debit card, the Citi® Secured Mastercard® can help you build a credit history.

So that is a smart choice for those who are trying to build or rebuild their credit because it will report your payment history to the three major credit bureaus in the country.

Once you have the card, you’ll also be able to access your FICO score online and for free. That way, you can track your credit score and control your expenses to improve it.

Citi® Secured Mastercard® still comes with some nice perks, such as 24/7 customer service, Fraud Protection, and Chip technology for increased security.

It charges no annual fee, and the APR is considered average-priced for a secured card. Still, there’s a 3% U.S dollar foreign fee for each international purchase with this card.

In addition, you can use this anywhere Mastercard is accepted with $0 liability on unauthorized charges.

Plus, if you make your payments on time and keep your account in good standing, you may eventually be able to qualify for an unsecured credit card with more benefits.

Citi® Secured Mastercard®: should you get one?

This card might be an excellent shot if your goal is to build a credit history. So, review its pros and cons, and weigh if it’s what you want for your finances.

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Pros

  • It reports to three main credit bureaus, so it helps build credit history;
  • It doesn’t require a minimum credit score to apply;
  • No annual fee;
  • 24/7 customer protection;
  • Free access to FICO score;
  • Easy to qualify.

Cons

  • Security deposit;
  • No rewards;
  • No welcome bonus.

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Credit score required

Citi® Secured Mastercard® doesn’t require a minimum credit score to apply. However, The qualification analyses will consider your financial background, which can impact the variable fees on your card.

Citi® Secured Mastercard® application: how to do it?

If you enjoyed the Citi® Secured Mastercard® review, there’s much more to know about this card if you want one. Keep reading about its application process and eligibility requirements.

Apply online

male hands typing on a laptop
Learn how you can apply online for a Citi® Secured Mastercard. Source: Unsplash

Citi® Secured Mastercard® requires applicants to be at least 18 years old or older and residents of the USA.

Then when you fill out the application form, you will need to provide some personal and financial information,  such as your income address, date of birth, and Social Security number.

Then the decision will be based on your creditworthiness. If approved, you usually may hear from them in seconds.

In case of approval, you’ll have 14 business days to provide the banking account information you will use to make a security deposit.

Apply using the app

You can manage your account, check your balance, and control expenses on the Citi® app.

On the other hand, you are not allowed to apply for a card in the app. Before downloading the app, use your computer/cell phone to access the website.

Citi® Secured Mastercard® vs. GO2bank™ Secured Visa®

If you’re shopping for a secured card, we recommend looking at the GO2bank™ Secured Visa®.

This card comes with no annual fee, online management, and offers cash back. So, you can build or rebuild your credit while earning rewards for it.

However, before you jump into that, let’s compare the Citi® Secured Mastercard® with GO2bank™ Secured Visa® so that you can make an intelligent choice.

Citi® Secured Mastercard®

  • Credit Score: no minimum credit score;
  • Annual Fee: $0;
  • Regular APR: 26.74% variable APR for purchases and balance transfers; 29.49% variable APR for cash advances;
  • Welcome bonus: no welcome bonus;
  • Rewards: no rewards.

GO2bank™ Secured Visa®

  • Credit Score: no minimum credit score;
  • Annual Fee: $0;
  • Regular APR: 22.99% APR for purchases and $26.99 APR for cash advances (variable);
  • Welcome bonus: none;
  • Rewards: N/A.

If you think the GO2bank™ Secured Visa® can be the best option for your finances, read our post below to learn how the application process works!

GO2bank™ Secured Visa ® Credit Card review2

How to apply for the GO2bank™ Secured Visa®

Find out if you are eligible for GO2bank™ Secured Visa® Card and learn the step-by-step to make your application today. Keep reading!

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

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