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 and 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 rewards.

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:

• Zero fraud liability
• 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.

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 report your account activity to credit bureaus?

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 can help improve your credit score.

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.