Chip Lupo, Credit Card Writer
@CLoop
The Citi® Secured Mastercard® is a good first-time credit card because it is available to people with limited credit and its annual fee is $0. This means it’s easy to get approved for and inexpensive to own. Responsible use also builds credit, as the Citi Secured Card reports account info to the major credit bureaus monthly.
To get approved for the card, you will need to have a steady income and meet other basic requirements like being at least 18 years old and having an SSN or ITIN.
Why the Citi Secured Card Is a Good First-Time Credit Card
- Available to: People with limited credit
- Annual fee: $0
- APR: 27.49% (V)
- Security deposit: $200
- Reports to credit bureaus monthly: Yes
It’s worth noting that the Citi Secured Card isn’t the only good first-time credit card out there. You can learn more about the best first-time credit cards on WalletHub.
Citi® Secured Mastercard®
People also ask
Does Citi Secured do a hard pull?
Yes, the Citi Secured will do a hard pull. You can apply for it with bad credit though.
There is no way to get pre-approved for the Citi Secured. A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people’s scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months. You can learn more about how to minimize the credit score...
read full answerWhat are the Citi Secured requirements for approval?
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.
Citi Secured Card Requirements
- ...
What are the best Citibank starter credit cards?
The best Citibank starter credit card is the Citi Secured because it accepts applicants with limited credit history and reports to the three major credit bureaus on a monthly basis. This Citibank card also has an annual fee of $0.
Your goal with a starter credit card should be to build your credit score as cheaply as possible. The Citi Secured is a good option for doing just that.
Citibank Starter Credit Cards
- ...
Did we answer your question?