The Citi Secured Mastercard from our partner Citi offers an excellent credit-building path for those with limited credit. Unlike a debit card, when you apply for a credit card, it sends your monthly payment history to the three major credit bureaus and does not charge an annual fee.
The FICO credit score model is designed to help cardholders track their credit scores and inform them of any changes to their credit history. Citi Secured Mastercard does not offer any rewards or cash back programs, but it can still be useful for people looking to establish a relationship with the bank.
They offer no setup or monthly fees, and the loan limit depends on your personal creditworthiness. You can borrow from $200 to $2,500 for up to one year.
You will have to pay a regular high APR, a high criminal APR, a foreign transaction fee when using your card abroad and on cash advances. Considering you must not have filed for bankruptcy in the last 2 years, I don’t think this card is the right choice for you.
Introduction Citi Secured Mastercard
Some people have no established credit history, but that doesn’t mean they can’t build their credit history. Citi Secured Mastercard is convenient and easy to build credit history without the hassle of paying an annual fee. Along with many other credit cards, Citi Secured Mastercard can provide you with a $0 liability for fraudulent charges and alerts. You can also conveniently add it to your current cards to avoid carrying around a bulky wallet.
If approved for a credit card, the limit will be approximately $200 to $2,500, depending on your security deposit. As a cardholder, you do not earn interest on your security deposit, but the bank will refund it within 18 months of opening the account. This refund and card “unprotection” depends on how responsible the cardholder was in paying their bills on time and demonstrating to the credit bureau that they are capable of
Conclusion Citi Secured Mastercard
Citi Secured Mastercard is a low-cost credit card that can help you establish your credibility. Cards are accepted at all Mastercard-approved stores worldwide. Require a deposit before your card is delivered with a minimum deposit of $200. Once your account is approved, the credit limit will match the amount of your security deposit.
Keep your payments and bills in order with flexible due dates. These can be set on any available date within the month with a grace period of 3 payments. Customers can manage their account at any time using the website or mobile app, or by calling customer service. You are always in control. Base on the banks whose trust a potential cardholder is interested in gaining.
CITI SECURED MASTERCARDNO ANNUAL FEE CONVENIENT AND EASY LOW COST CREDIT CARD INTERNATIONAL
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