Chip Lupo, Credit Card Writer
Yes, a Citi Secured card can become unsecured as soon as 18 months after the account is opened. You cannot request that the account become unsecured, though, and Citi does not guarantee that it will happen. The best way to improve your odds of graduating to an unsecured card, and thus getting your deposit back early, is to pay your Citi Secured bill on time every month. If after 18 months, the Citi Secured card does not graduate to an unsecured card, you can call customer service and check on the card’s graduation status.
If the Citi Secured card graduates to an unsecured card, you can either keep the existing account open or close the account and apply for a different Citi card, such as the Citi® Diamond Preferred® Card or Citi Double Cash Card. If you decide to keep your newly-unsecured card, Citi may also consider you for a credit limit increase shortly after the Citi® Secured Mastercard® card graduates.
Bear in mind that when a Citi secured card becomes unsecured, it is not considered a new account, so there’s no hard pull on your credit report and no negative effect on your credit score. But if you choose to apply for a new Citi card, your credit will be pulled.
Citi® Secured Mastercard®
Ive had this card for 4 years. Never missed a payment, low utilization. I have several high limit unsecured cards and a great score. Each year I get a letter saying they cant graduate account at this time. Ive determined its a scam to keep our deposits.
Wow I should’ve read your comment before I wasted a phone call on them. I literally told the operator “this feels like a scam to keep my deposit”. My credit score is over 750 and I haven’t graduated either. Yet I have two other cards with high limits, and a really great credit health. Definitely just going to close my account and get my money back.
Thanks! I have had both Capital One and Discover IT Secured cards and both have graduated and refunded my deposits--and raised my limits quite a bit. I was considering applying for this Citi Secured card, but it doesn't sound like it's helped anyone in this question thread.
Mike L, Member
They say you can graduate in as little as 18 months. However, I gave them a $1000 deposit in 2018. Since then my credit score has climbed 120 points and I now hold several premium cards from both chase and amex. Yet Citi still wont graduate me. They can't even give a reason when I call to ask why each year. I agree with the other guys. It's a scam to keep our deposits. Im likely going to cancel and get my cash back instead of waiting anothee 12 months for the same disappointment.
The same thing is happening to me and my wife. They just keep giving us the run around. They even told me that the credit bureau is not sending them the information they requested. I smell рџ’©. I even told them that they are running a scheme to get and hold peopleвЂ™s money.
Same thing happened to me! Literally just got off a call with them. It’s a scam for sure to keep our deposits! I want my money back.
People also ask
Mine too has been extended..they have had my $2500 for 3 years
If mine dosnt graduate in Mar 2022, I’m gonna close it.. it didn’t seem to help my credit either way credit score 673 according to them
Look at the reviews. I haven't heard that anyone has graduated. I have been waiting for years. Pay in full each month and still won't graduate.
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