Citi® Secured Mastercard®

Key facts

Annual fee

$0

Purchase APR

25.99% variable APR

Network

MASTERCARD

Benefits and perks

• How can I build credit with a Citi® Secured Mastercard®? The Citi® Secured Mastercard® is a credit card designed specifically for people who are new to credit or want to build their credit. This secured credit card may help you to build credit a number of ways: By paying at least the minimum due on a timely basis each month. Having your credit history reported to credit bureaus. Accessing Citi's helpful tools to help keep you on track, including free FICO® Score Access, online bill pay and account alerts. The Citi® Secured Mastercard® also comes with account protection features, like fraud ale
• How long does it take to build credit with the Citi® Secured Mastercard®? Credit building timelines vary, but many people begin to see activity on their credit reports within a few months of on-time payments. Because Citi reports to major credit bureaus monthly, consistent and responsible use over time can help establish a positive credit history.
• What is the initial deposit required for the Citi® Secured Mastercard®? You can select a deposit amount between $200 and $2,500 when applying for the Citi® Secured Mastercard®. Your security deposit will determine your credit limit (the amount you can spend). Your security deposit is always equal to your credit limit so the larger the deposit, the larger the credit limit.
• How and when can I pay the security deposit for the Citi® Secured Mastercard®? If you apply online, we'll review your application for the Citi® Secured Mastercard® immediately, which can take as little as 60 seconds for a response. If you're approved, you'll have 14 days to provide your bank account information, which will be used to fund your security deposit via electronic bank transfer, before we open your account. We may ask you to verify the bank account used for your security deposit to confirm that you have access to it.
• Is the security deposit for the Citi® Secured Mastercard® refundable? The security deposit is generally refundable when the account is closed, provided the balance is paid in full and the account is in good standing.
• Can I apply for the Citi® Secured Mastercard® with a low credit score? The Citi® Secured Mastercard® is designed specifically for people who are new to credit or want to build their credit. Anyone is welcome to apply, however in order to be approved, you must meet our credit qualification criteria. This includes: A review of your income and debt, any available credit information, as well as any other information Citi may have about your creditworthiness. You must not have any pending bankruptcy, or bankruptcy history in the last two years. As with any credit card, you may be declined based on
• Is there an annual fee for the Citi® Secured Mastercard®? There is no annual membership fee for the Citi® Secured Mastercard®.
• Does using the Citi® Secured Mastercard® affect my credit utilization ratio? Yes. Like other credit cards, balances reported on your Citi® Secured Mastercard® factor into your overall credit utilization, which can influence your credit score. With responsible use, you may become eligible to upgrade to the Citi® Diamond Preferred Card. Customers are reviewed for graduation starting at 9 months for early graduation, and then reviewed on a 12 month basis. Customers must pass credit graduation criteria and have valid SSNs on file to graduate. If a customer does not qualify for graduation, they rem
• What is the graduation process and what card will I be graduated to? With responsible use, you may become eligible to upgrade to the Citi® Diamond Preferred® Credit Card. Customers are reviewed for graduation starting at 9 months for early graduation, and then reviewed on a 12 month basis. Customers must pass credit graduation criteria and have valid SSNs on file to graduate. If a customer does not qualify for graduation, they remain on Secured card for another 12 months.
• Does the Citi® Secured Mastercard® earn rewards? While the Citi® Secured Mastercard® card does not earn rewards, it does offer benefits such as no annual fee, free access to your FICO® Score and $0 liability on unauthorized charges. You can also earn money back in the form of statement credits through Merchant Offers.

Questions about the Citi® Secured Mastercard®