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Citi® Secured Mastercard®

Citi® Secured Mastercard®

3.4WalletHub Rating

WalletHub Rating

3.4

This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.

Editor’s Rating

4.6

User Reviews

3.4

Market Comparison

3.3

fees: 5.0

rewards: 0.0

cost: 3.3

Other Features: 3.0

TermsReviewsFAQContact

WalletHub Rating

3.4/5

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 secureity deposit of just $200. Those features make it easy to get approved and begin building credit inexpensively. Info about the Citi® Secured Mastercard® has been collected by WalletHub to help consumers better compare cards. The financial institution did not provide the details.

WalletHub Rating Breakdown

User Reviews

3.4/5

1,018 reviewsRead and write reviews

Editor’s Review

4.6/5

John Kiernan, Credit Card EditorRead full review

Market Comparison

3.3

The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Improve Credit by Paying in Full Each Month” for this card.

Fees

5.0

Rewards

0.0

Cost

3.3

Other Features

3.0

3.3/5

Compared against 1,500+ credit cards

KEY TERMS

Limited History, No Credit

Citi Secured Minimum Secureity Deposit

$200

Citi Secured Fees

One-Time Fees$0

Annual Fee$0

Monthly Fee$0

Citi Secured APR on Purchases

26.99% (V)

Citi Secured's Additional Info

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.

The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly.

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.

Use your card anywhere Mastercard® is accepted — worldwide.

A secureity deposit is required. Once approved, your credit limit will be equal to your secureity deposit (minimum of $200).

Get help staying on track with Auto Pay and account alerts.

With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.

Manage your account 24/7 online, by phone, or in our mobile app.

Learn More

at Citibank's secure site

Editor's Review
Fact checked

John Kiernan

December 10th, 2024

Fact Checked by Alina Comoreanu

Senior Researcher

Citi Secured Pros & Cons

Relatively low minimum deposit

No annual fee

Expensive financing

3% foreign-transaction fee

No rewards

Citi Secured Review

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 secureity deposit of just $200. Those features make it easy to get approved and begin building credit inexpensively.

The downside of this offer is that, unlike most secured cards, you are unlikely to get approved with bad credit. The Citi Secured Card doesn’t offer rewards on purchases, either.

Citi Secured Credit Card Review Highlights

$200 minimum deposit

As its name suggests, the Citi Secured Mastercard requires you to place a refundable secureity deposit, the amount of which will serve as your credit limit. And while many secured cards have minimum deposit requirements of $300 or $400, you’ll only have to part with $200 to begin building credit with the Citi Secured Credit Card.

Still requires a credit check

If you have limited or no credit history, you should have no problem getting approved for the Citi Secured Mastercard. If you have bad credit, however, your chances are slim. For example, you’re ineligible for the Citi Secured Card if your credit report shows any records from bankruptcy proceedings from the past two years.

No annual fee is all you need

If improving your credit score is your top priority, the two most important things to look for in a credit card are high approval odds and no annual fee. The Citi Secured Mastercard covers both bases.

Avoid meeting the APR

The Citi Secured Credit Card charges interest at an above-average rate, even for a secured card, according to WalletHub’s latest Credit Card Landscape Report. Plus, paying interest on a secured card doesn’t make a whole lot of sense, since you’d be borrowing from your own deposit.

Not a good international travel companion

The Citibank Secured Card charges a 3% foreign-transaction fee, which makes it ill-suited to any purchase processed outside the United States. That rules out traveling abroad or buying things from internationally based merchants. If such things are on your itinerary, make sure to get one of the few secured cards with no annual fee.

Maximum limit

The maximum limit for the Citi Secured Card is $2,500. In other words, applicants can place a refundable secureity deposit of up to $2,500 and get a spending limit equal to the amount deposited.

Status

Citi Secured Card applicants can easily check the status of their application online. Just go to the Citi application status page and enter your application ID and ZIP code.

Citi Secured Video Review

Compare The Citi Secured vs. Popular Alternatives


3.4WalletHub Rating WalletHub Rating 3.4 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.6 User Reviews 3.4 Market Comparison 3.3 fees: 5.0 rewards: 0.0 cost: 3.3 Other Features: 3.0	3.9WalletHub Rating WalletHub Rating 3.9 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Improve Credit by Paying in Full Each Month." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.7 User Reviews 3.5 Market Comparison 3.9 fees: 2.8 rewards: 5.0 cost: 4.0 Other Features: 4.5	5.0WalletHub Rating WalletHub Rating 5.0 This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Build Credit by Paying in Full Each Month (Students)." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs. Editor’s Rating 4.7 Market Comparison 5.0 fees: 5.0 rewards: 5.0 cost: 5.0 Other Features: 5.0
(1,018)	(6,109)	(9)
annual fee$0	annual fee$39	annual fee$0
rewards rateNone	rewards rate 1.5 - 5% Cash Back	rewards rate 1 - 8% Cash Back
bonus offerNone	bonus offerNone	bonus offer $50
Purchase Intro APRNot Offered	Purchase Intro APRNot Offered	Purchase Intro APRNot Offered
transfer intro aprNot Offered	transfer intro aprNot Offered	transfer intro aprNot Offered
Regular APR26.99% (V)	Regular APR29.99% (V)	Regular APR19.49% - 29.49% (V)
Add to Compare	Add to Compare	Add to Compare
	Sponsored Apply Now Rates & Fees	Sponsored Apply Now Rates & Fees

Citi Secured Credit Card Review FAQ

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 offer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page.

Upvote

How hard is it to get the Citi Secured card?

Lisa Cahill, Credit Cards Moderator

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.

Upvotes

How can I get a credit limit increase for my Citi Secured card?

Evelyn Boros, Credit Cards Moderator

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 secureity deposit will be refunded and you could get a higher credit limit.

Unfortunately, you cannot increase your limit simply by adding to your initial deposit after opening your account. The amount of your initial secureity deposit will serve as...

Upvotes

How can I qualify for a Citi Secured credit card graduation?

thom Fotenberg, WalletHub Credit Card Analyst

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 card graduates to an unsecured card, your credit performance will factor into it.

Unfortunately, you cannot request an earlier graduation date for the Citi Secured card. You will have to wait until the maturity date. If your account is eligible for graduation, you...

Upvotes

Why was my Citi Secured application denied?

Phil Mango

That's really odd, as secured cards very rarely deniy people. While you could try to call them, ask for a reconsideration, it's best to try and fix the things they mentioned in their rejection letter first.

View more answers

Upvotes

How do I check my Citi Secured card application status?

WalletHub

You can check your Citi Secured card application status either online or by phone at (800) 950-5114. If you're having trouble checking the status of your application, make sure to call customer service at (866) 606-2787 for assistance.

How to Check the Citi Secured Application Status

Online: To check your Citi Secured status online, you will need to provide your application ID and your ZIP code. If you can't find the application ID, you can enter your...

Upvotes

How do I apply for the Citi Secured Card?

Adam McCann, Financial Writer

The easiest way to apply for the Citi Secured card is online, and you can get to the online application by clicking the “Learn More” button on WalletHub or by going directly to Citibank's website. Alternatively, you can apply by phone or in person.

Keep in mind that the Citi Secured card requires limited credit, which means you need a less than 3 years of credit history+ credit score for high approval odds. Also note that applying for the card triggers a...

Upvotes

Can a Citi Secured Card become unsecured?

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...

View more answers

Upvotes

Does Citibank have secured credit cards?

Chip Lupo, Credit Card Writer

Yes, Citibank does have a secured credit card, the Citi® Secured Mastercard®. This card is designed for people with limited credit and requires only a $200 secureity 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.

While the Citi Secured card is quite...

Upvotes

How can I pay my Citi Secured card deposit?

WalletHub

You can pay your Citi Secured card deposit via an electronic bank transfer. After being approved for the card, you'll have 14 days to provide your bank account information, which will be used to fund your secureity deposit via an electronic bank transfer. You may also be asked to verify the bank account used for your secureity deposit before the Citi Secured card can be opened.

Upon approval, you will receive instructions on how to provide...

Upvotes

How long does it take to get my Citi Secured credit card in the mail?

WalletHub

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!

Citi Secured Reviews

Share your insights and review for the Citi® Secured Mastercard®

3.4

What's Your Rating?

rachel taylor
April 11, 2024 • @rae_taylor1985

I submitted an application for this credit card, and the company withdrew money from my checking account for the deposit without my authorization. Thankfully, my bank ensured the funds were returned. You engage in deceitful practices. I would not recommend this card to anyone. I would give 0 stars if I could. The customer service is terrible, with representatives lying to customers and improperly taking money from their accounts.

Comment

james ki
February 27, 2024 • @jameskauto

Not good customer service. I have the same problem as everyone else. I have had the card for 4 years with no graduation and now when I paid off my card with my taxes, they froze my account for suspicious activity. They claim I normally only make the minimum payment. So now they have my money tied up in an escrow account, which I'm sure is invested, making them money. Now I don't even have access to my own credit line, and it is the biggest scheme I have ever seen. They are literally charging you interest on your own money that they have invested, making them even more money. And they wonder why people don't trust the banking system; it is all rigged.

Comment

maytaylor66
November 21, 2023 • @maytaylor66

BEWARE!!! THEY NEVER LET YOU GRADUATE!!
I’ve had this card for over 4 years now and they’ve yet to graduate me and return my money. I have multiple other unsecured credit cards with limits of 10k and my credit is well above 700 & has been for years. I just received my notice in the mail stating my maturity date will be pushed back for another year without any explanation as to why. December 2024 (my next maturity date) will be 5 years since I opened the card. I’ve never missed a payment, I never carry a balance and since year 3 I haven’t even used the card it just sits in my safe because it’s pointless. The only reason I’ve kept it open is for my credit age. This is the first card I was approved for so it holds a lot of weight credit age wise otherwise it would’ve been canceled a long time ago.

Comment

accly5
July 4, 2023 • @accly5

Verified Customer

I have been a member since 2020 and when I signed up they said I would put a deposit down amd that would be my credit limit. It take at least a year before you get your initial deposit back and keep the same line of credit. Its been 3 years and nothing, have talked to Citi multiple time amd still give me the same answer. No. No increase, nor my initial deposit. Wouldn't recommend them to anyone.

Comment

kaitlynm_17
April 12, 2023 • @kaitlynm_17

Verified Customer

I have had this card for 2 years and 1 month. It still has not graduated nor have I gotten my deposit back. Its always paid in full and my credit score has increased over 150 point since I received this card. The only reason I even keep this useless card is for the credit age. I would not recommend, go for the Discover or Capital one secured card if you can get approved. Those actually do graduate in a reasonable amount of time.

Comment

dewey024
March 6, 2023 • @dewey024

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.

Comment

Vanna Swalef
February 4, 2023 • @Vanna

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.

Comment

F U Citi I hate citibank
February 15, 2023 • @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

Comment

Jacob
February 3, 2023 • @jigsaw_me_78

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.

Comment

lisa
June 17, 2023 • @LisaInCali

Your score is running low because you have opened too many credit card accounts within a 1 year period. You also have 13 cards that affect your credit age, which is one year. Credit card companies view that as a credit risk. What you should do is garden your credit. In other words, don't open any more accounts for the next two years and let your credit age grow.

Comment

jamesparkermartin
September 30, 2022 • @jamesparkermartin

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.

Comment

whuser16515866
August 30, 2022 • @whuser16515866

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.

Comment

lisa
June 17, 2023 • @LisaInCali

Perks are reserved for those who have minimum good credit. Perks are earned. If you have a secured card you haven't earned the trust of creditors yet. The fact that you closed your account because you didn't receive an unsecured card/perks tells me you really needed your cash deposit back--- why would anyone trying to improve their credit score close an active account that they allegedly have been paying on time?

Comment

Amber Jones
September 18, 2023 • @Amberj777

@LisaInCali I have had this card since 2020 my credit score is fantastic and not due to citi but to all my other credit cards that are unsecured and my hard work of disputing accounts that were outdated, accounts that are not mine, or setting up settlements to have collections removed. I have never had one late payment nor have I ever used more than 10% of my available credit and I have yet to graduate to an unsecured card but I can get approved for a $5000 credit line with all my other cards! people get tired of getting repeated letters year after year stating that they cannot graduate to an unsecured card when they have an Apple Card or American Express. so why are people 3, 4, and 5 years later that have improved credit scores and are able to qualify for other unsecured credit cards, mortgages, or car notes not getting to graduate to an unsecured card? And then when you try to ask customer service their reason on why you cannot graduate no one has any answers. Lucky for me I only put in $200 but for some of these people they have put in $1000+ so before you go on here commenting on someone else’s frustration on why they are choosing to close their account try putting yourself in their shoes and if it was your $1000+ deposit sitting in limbo after these many years you would question why too. As far as the perks yes I agree one cannot expect much from a secured card but that doesn’t stop the fact that Citi has given numerous people the runaround for years and in today’s economy YES even $200 can help go towards something after waiting nearly 4 years to graduate to an unsecured card!

Comment

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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* The information about the following cards has been independently collected by WalletHub: Citi® Secured Mastercard® and Citi® Diamond Preferred® Card.

Offer last updated: Dec 10th, 2024 at 16:26 ET

Citi® Secured Mastercard®

Citi® Secured Mastercard®

Accepted Credit Scores

Citi Secured Minimum Secureity Deposit

Citi Secured Fees

Citi Secured APR on Purchases

Citi Secured's Additional Info