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Citi Secured Mastercard Review

Citi Secured Mastercard

The card that allows you to slowly increase your credit score so that to get unsecured credit cards.

If you’ve never bothered to build your credit score, it’s very likely that you will be unable to get the credit cards that you find to be appealing. This is where this card turns out to be useful. It ensures that you’ll be successfully building your credit score so that to get an unsecured credit card you’re interested in. Let’s see what this card has to offer to its potential cardholders.

Basic features and advantages of the card

This card is designed to be as straightforward as possible. In case the issuer confirms that you qualify for it, you’ll be required to make a deposit in order to get access to the credit line you want (from $200 to $2,500). Remember that the credit line you are approved for depends on the deposit you make. This is the major principle of a secured card.

Keep in mind that you need to pay your balance full on time each time the payment is due. Only if you stick to this rule you’ll be able to improve your credit score so that to get an unsecured card you want to get. Below you’ll find the information we recommend you reading through before you decide to apply for the card.

General information on the card:


  • You can be approved for the card even if your credit score is limited.


  • Potential cardholder won’t earn any rewards.
  • The Standard APR implied by the card is rather high.

Citi Secured Mastercard

Citi® Secured Mastercard®

  • There is no fee that a cardholder is expected to pay each year.
  • Be ready to pay the interest rate of 23.49%. The rate varies based on your credit history. There is Cash Advance rate of 26.24% that’s also variable. In addition to this, there is also a fee that occurs in case you fail to pay your balance in full. It may amount to 29.99%, but is also a subject to changes.
  • Special Offer: The card implies no such like offer.
  • Special Offer in terms of APR: No offer for this card.

More information concerning the card:

  • There is no fee that you should pay for using the card each year for as long you’re a cardholder. Besides, the emitting bank will send reports to the bureaus each month.
  • The minimal deposit you should make to get the card amounts to $200.
  • If you plan to rebuild your credit, you need to always pay your balance in full on time. The card has certain features that will help you not to forget about making your payments.
  • Since this is a Mastercard card, you won’t have any problems when using it all over the world.

We’ve come to the conclusion tha the card is a great option in the following cases:

  • You need to start building a good credit score. If you’re one of those who have a low credit score (or none at all), you may be thinking over of applying for a prepaid card. These cards don’t check your credit history. Therefore, they are easy for you to get. However, there is one drawback that ruins all the plan – these cards don’t draw from a credit line. In other words, they are useless when it comes down to establishing a credit history. If you think that you may soon need to borrow some money, this card can help you with building your credit score so that you can qualify for the cards with better offers in the nearest future.
  • You prefer unsecured cards that send reports to at least 3 bureaus. This is common for small banks to report on the activity concerning your card to only 2 bureaus. This card is different. It sends reports to all the 3 major bureaus in the country thus making sure that your use of the card will be noticed.
  • You’re the one who prefers a set of additional perks with the card you choose. Even though the card doesn’t reward you, it implies a number of perks that you’ll be happy to enjoy. The list of the perks involves car rental as well as travel accident insurance, features that are meant to protest your purchases and extended warranty period.

The reasons for you to consider applying for a different card

There are no doubts about the fact that the card is very beneficial when it comes down to building a credit score. At the same time, there are also a number of drawbacks for you to know.

  • The card isn’t the best option for those who have bad credit history. In particular, we are talking about the people who went bankrupt at least 2 years ago. Such like people are very likely to be denied. The card is more beneficial for those who have no credit history at all.

Digital Federal Credit Union Visa Platinum Secured Credit Card

  • The card is definitely not the best as far as its interest rate goes. The truth is that there are some cards with lower APR and they are also secured. For example, you may find the Digital Federal Credit Union Visa Platinum Secured Credit Card to be more appealing. It comes with no fee to be paid each year and it drops all the additional fees (including the fees for balance transfer and cash advance operations that you need to carry out). The issuer will send reports to the 3 major bureaus. The biggest advantage is that you have unlimited credit line provided that you have a deposit that matches the line you want to have. As for the drawbacks, they have to do with the fact that you need to be a member of the Digital Federal Credit Union to qualify for the card. If you want to know more about the requirements that are necessary to meet in order to get a membership, you can find an article about this card or visit the official website of the issuer.

Navy Federal Credit Union nRewards Secured

  • There are no rewards to expect when you’re using this card. Actually, that’s not a big deal since your main goal for now is to build a credit score that’s good enough and that’s allow you to get other cards you may be interested in. Well, there is nothing wrong with having both the opportunities. If that’s about you, we think you should consider the possibility of applying for the Navy Federal Credit Union nRewards Secured that allows you to earn 1 point for each dollar you spend on any of your purchases. It implies no annual fee and has a long list of redemption option for you to enjoy.

The only thing that makes the process of getting the card quite difficult is that you should be a member of the corresponding credit union (to read more about the requirements, please visit the issuers official website or find the article about the card).

Summary: Should you bother applying for the Citi® Secured Mastercard®?

We believe the card to be perfect for those who are only starting to build credit. If you’re one of those people, we think there are no reasons for you to hesitate applying for it.

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