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  Citi Secured Mastercard

Citi Secured Mastercard

in Personal Credit Cards from Citibank

Unaffiliated

Citi Secured Mastercard

Unaffiliated

in Personal Credit Cards from Citibank

Net Recommendation Score +100%

SUPERMONEY NET RECOMMENDATION SCORE

+100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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2 users recommend
0 users are unsure
0 users don't recommend
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Highlights
Community Rating

Rating not yet determined  

Purchase APR  (Variable APR) 24.24%
Balance Transfer APR  (Variable APR) 24.24%
Credit Score Range 500 - 720
Annual Fee $0

Citi Secured Mastercard Review

Citi Secured Mastercard is a secured credit card credit card issued by Citibank. If you're wondering whether Citi Secured Mastercard is the right card for you, read on. This is everything you need to know to make a good choice.

Key Takeaways
  • High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 24.24%
  • No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
  • 3% Balance transfer fee. Citi Secured Mastercard charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees. The minimum fee is $5.
  • Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
  • Secured card. This card requires a refundable deposit before you qualify for a line of credit. These cards are often used to improve the credit of people with poor credit or little credit history.
  • Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still qualify.
Citi Secured Mastercard Pros & Cons
The Good The Bad
  • No annual fee.
  • Considers applicants with fair or poor credit.
  • Citi Secured Mastercard reports to multiple credit bureaus.
  • Higher than average purchase APRs.
  • Does not offer a signup bonus.
  • Does not offer rewards or cash back.
  • Charges a foreign transaction fee of 3%.
  • You don't earn rewards on every purchase.
  • Charges a 3% balance transfer fee.
  • Does not include many credit card benefits.
Citi Secured Mastercard FAQ

Is there a Citi Secured Mastercard cash back or rewards program?

No, Citi Secured Mastercard does not offer a rewards program.

What are the Citi Secured Mastercard benefits?

Citi Secured Mastercard provides the following benefits:

  • ID Theft Protection
  • Reports to major credit bureaus

What are the relevant APRs for Citi Secured Mastercard?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Citi Secured Mastercard has higher than average purchase APRs.

Citi Secured Mastercard has a variable purchase APR of 24.24%. The card has a variable balance transfer APR of 24.24% . It also has a variable cash advance APR of 26.99% . Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

Does Citi Secured Mastercard have an introductory APR offer on balance transfers?

No, Citi Secured Mastercard does not come with an introductory APR offer for balance transfers.

Does Citi Secured Mastercard have an introductory APR offer on new purchases?

Citi Secured Mastercard does not offer an introductory rate on new purchases.
Citi Secured Mastercard Purchase Intro Offer
Description
Introductory Rate N/A
Purchase Intro APR Period (months) N/A

What are the fees for Citi Secured Mastercard?

The following fees apply to Citi Secured Mastercard:

Citi Secured Mastercard Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 3%
Returned Payment Fee up to $39
Late Payment Fee up to $39

Does Citi Secured Mastercard have a foreign transaction fee?

Citi Secured Mastercard charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge a foreign transaction fee.

Does Citi Secured Mastercard report your account activity to credit bureaus?

Yes, Citi Secured Mastercard reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Citi Secured Mastercard

  • Visit the Citi Secured Mastercard website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.
  • If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

No Annual Fee  
Annual Fee $0
No Interest Grace Period for Late Payment 23 days
Cash Advance Fee Minimum $10
Cash Advance Fee (%) 5%
Minimum Cash Advance Fee ($) Starting at $10
Foreign Currency Transaction Fee 3%
Minimum Interest Charge $0.50
Returned Payment Fee Up to $39
Late Fee Amount Up to $39
Customer Type Personal
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 500 - 720
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Fraud Liability
  • Identity Theft Protection
Cash Advance APR (Variable APR) 26.99%
Balance Computation daily balance (including current transactions)
Penalty APR (Variable APR) 29.99%
Purchase APR (Variable APR) 24.24%
Balance Transfer APR (Variable APR) 24.24%
Balance Transfer Fee Minimum $5
Balance Transfer Fee % 3%
Card Type
  • Secured
  • Bad Credit
Card Network Mastercard

Citi Secured Mastercard Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

+100%

Recommendation score measures the loyalty between a provider and a consumer. It's at 100% if everybody recommends the provider, and at -100% when no one recommends.

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