Citi Secured MasterCard, is an option for people with limited or no credit history, to help them build their credit history, and requires a security deposit. Citi Secured card helps build your credit history and is issued by Citibank.
How Does Citi Secured MasterCard Work?
Citi Secured card allows you to set your credit limit, depending on what you can afford to put down as a deposit. With Citi, you can put down up to $2,500, to match whatever you invest into the card.
Credit Building Benefits
- It offers cardholders protection from identity theft, identifies compromised accounts, files police reports, and takes steps, to regain your good name and good credit back.
- Get purchase protection of $0 liability on unauthorized charges
- Citi® Secured MasterCard® is accepted at millions of merchant locations, ATM, and financial institutions globally. You can use your card, to make purchases, and to get emergency cash anywhere in the world where MasterCard® credit cards are accepted.
- Manage your account online and on the go, to enjoy 24/7 access to your account online. You can check your balance, view transactions, and even make a payment using free online and mobile banking tools. Delivers free account alerts delivered right on your mobile device.
What Fees & Rates apply?
- Annual Fee – None
- Purchase Rate – 24.49% APR, Variable
- Balance Transfers APR – 24.49% (Variable)
- Cash Advances APR – 27.24% (Variable)
- Penalty APR Rate – Up to 29.99% (Variable)
- Minimum Interest Charge – 50 cents
- Balance Transfer – Either $5 or 3%
- Cash Advance – Either $10 or 5%
- Foreign Purchase Transaction – 3%
- Late Payment Fee – Up to $35
- Returned Payment – Up to $35.
- Your income and debt must be reviewed
- The security deposit must be equal to your credit limit
- There should be no history of bankruptcy within the last two years.
- The security deposit required for this product is a minimum $200.
How do I Apply?
- Scroll to Citibank application page
- Key in the following details; First name. Middle Initial (opt). Last name. Suffix (opt). Date of birth. Social security number
- Answer the question “Are you a citizen?”, either by ticking the “Yes” or “No” box.
- Type in the Home address, Apt/site. (opt), Zip code, City, State
- Tick the box provided, if you’d like to provide a P.O. Box address (opt)
- Enter your Primary phone number, Work phone number
- Tick the appropriate box, if the primary phone number is your mobile number (opt)
- Fill out your Email address (opt)
- Enter a security word
- Write the following financial information; Total annual income, Monthly mortgage/rent payment
- Enter credit line request (Security deposit amount)
- Add an authorized user (Opt).
- Go thru the terms and conditions of the card and agree to them
- Tap on the “Submit” link to complete your application procedure.
How do I Activate my Citi Secured MasterCard?
To activate your newly acquired Citi® Secured Mastercard®;
- Login to Citibank online
- Tap on the “Activate your card” link, displayed under your account details on the Account Summary screen
- Key in the required One Time Pin (OTP)
- Choose the card you want to activate
- Tap on the “Activate” link
- Follow the prompts, to get your card activated.
Does Citi Secured MasterCard, report to credit bureaus?
Yes, Citi reports your card activity to all three of the major credit bureaus which are, Experian, Equifax, and TransUnion.
How long does it take for Citibank to approve Credit Card?
Your Citi card application status may be pending for up to 30 days. If your account gets approved, your card should arrive within 14 days of the decision.
How do I track my Citibank credit card?
Here’s how to track the status of your credit card or loan application.
- Fill out your 17-digit Application ID at https://www.citibank.com.
How do I increase my Citibank credit limit?
Simply request a credit limit increase online from the Citibank credit card login page for your account. Log into your Citi account, tap on “Services” and select “Card Services”. Choose either a Temporary Credit Limit Increase or Permanent Credit Limit Increase.
How do I make Citi Secured MasterCard bill Payments?
You can make your bill payment, using BPAY®.
- Start by calling at online.citi.com/US/ag/contactus
- Key in your card or account number
- Choose the third option
- Provide your Telephone PIN
- Key in the biller code
- Write the customer reference number
- Fill out the amount in dollars and cents, excluding the decimal point.