Info about Citi® Secured Mastercard® has been collected by WalletHub to help consumers better compare cards. The financial institution did not provide the details.
The Citi Secured Mastercard is a good secured credit card for people who are new to credit because it has a $0 annual fee and requires a refundable security deposit of just $200. Those features make it easy to get approved and begin building credit inexpensively.
The Citi® Secured Mastercard® is no longer available through WalletHub.com but may be available on the Citi website. Info about the card has been collected by us, the financial institution did not provide the details.
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The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly.
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Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online.
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Use your card anywhere Mastercard® is accepted — worldwide.
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A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200).
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Get help staying on track with Auto Pay and account alerts.
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With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.
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Manage your account 24/7 online, by phone, or in our mobile app.
Can't find what you are looking for? Submit your question about Citi® Secured Mastercard® to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card.
It is not very hard to get the Citi® Secured Mastercard® because it is available to people with limited credit. The Citi Secured card is actually a relatively easy credit card for the average person to get.
In order to get the Citi Secured card, you will have to meet the credit score requirement, have a steady income and be at least 18 years old. You'll also need to have an SSN.
Keep in mind that even though it's not hard to get the Citi Secured card, you're still not guaranteed to be approved.
You can get a credit limit increase for your Citi Secured card by keeping your account in good standing for 18+ months. Citi might consider graduating you to an unsecured card, in which case your security deposit will be refunded and you could get a higher credit limit.
To qualify for a Citi Secured credit card graduation, you must have had your account open for at least 18 months. While there are no specific guidelines for how to ensure your Citi Secured graduates to an unsecured card, your credit performance will factor into it.
You can apply for the Citi Secured Mastercard online or in a Citi branch.
Please note that Citi has a rule against accepting applicants with a bankruptcy in the last two years. And like other issuers of secured cards, they will turn down people who don't have enough...
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...
Your Citi Secured Card security deposit has to be transferred from your bank account for online applications. However, if you do not have a bank account, please visit a Citibank branch to speak with a banker about applying for the card. Hope this helps!
You should receive the card within 7 to 14 days. If you would like to check on the status of your card, customer service can be reached at 800-726-2109 . Hope this helps!
Share your insights and review the Citi® Secured Mastercard®
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28%
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3.5
1,013 reviews
1,013 reviews
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dewey024 @dewey024
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1 Star Rating
Verified Customer
Do not get this card. When they don’t give your money back (3.5 years) you have to cancel it to get your deposit. So your score drops significantly. It’s basically a scam at the end of the day because they are holding all those deposits and not giving you any interest. So they have no incentive to return your funds. They would not return my deposit and give me a regular credit card after 18 months as promised and advertised, but I was given a regular card when I applied after 42 months of them holding my deposit. How is it that they would not return my deposit and change my account from secured to a regular account, but I received a regular card by applying for it online? This makes absolutely no sense. Customer service is a joke. Nobody can answer questions about why deposits are still being held. There is literally no department to speak to and have it explained to you. I paid it like an AmEx the entire time. I paid the full balance early every single month. Three and a half years of wasted time. Go somewhere else. If I could give negative stars, I would. They are taking advantage of a demographic that has been through rough times. They do not reward customers who have a perfect record of payment. They just send an annual letter telling them that they are holding onto the collateral for another year. So when you want your deposit back ($2,000 in my case), instead of waiting another year to possibly be told it’s going to be yet another year, the only option is to cancel it. This shortens your length of credit history and your score drops. The juice is not worth the squeeze with Citi Secured. Try anything else.
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Vanna Swalef @Vanna
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1 Star Rating
Verified Customer
I signed up for this card in July 2021 with the hope of building my credit score. I was told that with stellar payment history and improved credit, I could expect to get my deposit back after 18 months which would be January 2023. My credit has improved drastically for various reasons, I've kept the usage of this card quite low and paid in full every month. I was approved for an unsecured card with another company due to my improved credit, but Citi will not give back the deposit and put me under extended review for another 12 months. They don't provide any information on why extensions are given and they don't reconsider their decision. If you don't mind having this card in its secured state for a very long period (years), then give it a try. It does slightly help with building credit (but not much). But as others have mentioned here and on other forums, you should expect this card to remain secured for numerous years. Definitely research and consider other secured cards, as I wish I did.
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F U Citi I hate citibank @stepsthrupetals
I wish I would’ve researched it better too or just not been naive to the way cc companies run. Completely screwed over by them even because everything sounds too good to be true with them to start
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Jacob @jigsaw_me_78
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5 Star Rating
Verified Customer
Early 10-month graduation, however no cli, we'll see what happens in the next 6 months. I opened this card back in Feb-2022 with no credit history. I have opened about 13 credit mix accounts since then; with a 100% revolving positive streak however, my credit score is still running in the low end, anywhere from 689 to 745, what gives? This is definitely a slow enduring patiently waiting dragged-out process.
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jamesparkermartin @jamesparkermartin
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5 Star Rating
Verified Customer
Graduated in 10 months. FICO 725, no derogatories, low DTI, balance PIF before statement date. This card allowed me build up a thin credit profile relatively quickly.
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whuser16515866 @whuser16515866
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1 Star Rating
Verified Customer
Stay Away!! Don't believe the 18 month graduation date, that's a bunch of BS. If you want a great secure card go with: Cap One, Discover or Bank of America, If I could give this card a 0 I would, also it has No perks. PLEASE!!! stay away. I closed my account today.
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Alexander @alexander_brooks_smith
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1 Star Rating
Verified Customer
Extremely dissatisfied. If you ever hope to get your money back, you can forget about it. I will have had this account for 18 months and never been late. I've maintained a balance of zero dollars because of regular payments majority of the time. I just received a notice that my account has been reviewed and they want steal(pardon I mean hold my money for another 12 months) so they can get know me better. I have also had a score consistently over 700 as well and multiple other accounts with other banks (also no late payments etc). I would never recommend this card to anyone. I hope they realize the error of their ways and correct it as soon as possible.
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mooncollectables @mooncollectables
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1 Star Rating
I got approved for this and a discover it secured after reading reviews on this card , I think I'll go with discover lol iv heard very good things about the discover card and iv read tons of reviews that after just 7 months they graduate you to a unsecured card glad I read this before paying my deposit
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Stephanie Moon @Stephshawks02
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1 Star Rating
I was approved for this card in 2019. I've never missed a payment and always pay it in full as I only use it to purchase gas. Since then I've received letters telling me I'd be eligible in a specific month, for an upgrade to an unsecured card, and when that time comes, they send another letter saying that I'm not eligible yet and will have to wait another period of time. Just last week I called them and she looked at my account and told me that yes she sees I've been on top of my payments, but couldn't offer me any other information as to why I cannot be upgraded to an unsecured. From the looks of the reviews it seems like that is impossible. I just paid it off again a few minutes ago, and I will wait till it posts. Once it does, adios to them and I'm getting my deposit back. I've been approved for three unsecured credit cards with significant limits in the last week through Capital One and Chase, and these have rewards! Look elsewhere to see what other options you might have before applying for this card!
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whuser16515866 @whuser16515866
I received the same BS message. I closed my account today.
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Fernan @fcmnyc
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5 Star Rating
Verified Customer
Great card. Easy application and approval. Only bad thing is once you submit deposit you can not increase it. They don't tell you ahead of time.
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smith300034 @smith300034
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1 Star Rating
Verified Customer
I have had this secured card for 2 years and 10 months. Never late. Never carried a balance. My score was around 420-500 when applied. I am now around 650-665 with stellar payments on 29 accounts in 5 years. They refuse to graduate me. I called 8 months ago and was told they did a soft pull to base the decision on but my credit report showed showed no soft pull at all from them. They hung up on me when I stated this. Just called today and they said they would try again in August 2022. Told them if by February I have no graduation I'm calling to cancel my card and get my money back. When you increase your score over 100 points, make zero late payments, carry zero balance, and increase your income over 50,000 in 2 years they ignore you and punish you. What a joke.
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Review Citi® Secured Mastercard®
Expert Thoughts on Citi Secured
To help people learn more about Citi Secured Mastercard, WalletHub's editors posed the following questions to a panel of experts. You can meet our panelists and read their responses below.
Who should consider applying for a secured credit card, such as the Citi Secured Mastercard?
What does offering a secured credit card say about Citi as a credit card company?
What would you say is the biggest misconception that people have about secured credit cards?
Tammy Johnston Ph.D., Professor of Economics, William D. Hoover School of Accounting, Financial, and Information Services, University of Louisiana at Monroe Read More
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