Does Citibank have secured credit cards?

Question

The main Citi Secured requirements are that an applicant must be at least 18 years old with a valid Social Security number or Individual Taxpayer Identification number. Applicants must also agree to put down a security deposit of $200+ before they can open the account. There’s no minimum credit score requirement, as the Citi Secured card is designed for people with bad credit and beginners with little or no borrowing history.... read full answer

Citi Secured Card Requirements

At least 18 years old

Physical U.S. address (no P.O. boxes)

Proof of income to make the monthly minimum payment

Checking or savings account

Social Security number or ITIN

$200 security deposit

While the Citi Secured card has no minimum credit score requirement, Citibank may reject your application if there are serious negative entries on your credit report, such as a pending bankruptcy. In addition, if you apply for the Citi Secured card, it’s vital that you enter all required information completely and accurately. Knowingly reporting false or misleading information on a credit card application is a federal crime.

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Answer 1 · 2021-06-21 10:15:13

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Chip Lupo, Credit Card Writer

@CLoop • 06/21/21 This answer was first published on 06/21/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, Citibank does have a secured credit card. The Citi® Secured Mastercard® is designed for people with limited credit and requires only a $200 security deposit, which is fully refundable after closing the account with no balance. Applicants can deposit up to $2,500 to open an account, and the amount of the deposit determines the card’s credit limit. The Citi Secured card also comes with a $0 annual fee, and it does not charge any one-time “processing” fees or monthly fees.

While the Citi Secured card is quite easy to get, be aware that your application will be rejected if there’s a bankruptcy from the last two years on your credit report. If you are approved for a Citi Secured account, it’s important to maintain a history of timely payments and keep your spending in check, as Citibank reports your account activity to all three major credit bureaus. If you establish a solid track record of responsible card use for the first 18 months, the Citi Secured card may “graduate” to an unsecured account, and your security deposit will be refunded in full.

Does Citibank have secured credit cards?

Chip Lupo, Credit Card Writer

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