Citi
Citi® Secured Mastercard®
Key Features
| Annual Fee | $0.00 |
| Sign-up Bonus | No signup bonus offered |
| Rewards Rate | No rewards program |
| Regular APR | The variable APR for purchases and balance transfers is 25.99%. For Citi Flex Plans subject to an APR, the variable APR is 25.99%. The variable APR for cash advances is 29.74%. The variable penalty APR is up to 29.99% and may be applied if you make a late payment or make a payment that is returned. |
| Other Fees | No Authorized User fee Minimum interest charge — $0.50. Fee for foreign purchases — 3% of the U.S. dollar amount of each purchase. Cash advance fee — either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee — either $5 or 5% of the amount of each transfer, whichever is greater. For Citi Flex Pay Plans subject to a Plan Fee, a monthly fee of up to 1.72% will apply, based on the Citi Flex Plan duration, the APR that would otherwise apply to the Transaction, and other factors. |
| Network | Mastercard |
About this card
The Citi® Secured Mastercard® is primarily a credit-building tool, and its overall rating reflects this limited utility. The absence of rewards and the high APR are significant drawbacks, especially considering its target audience. While the lack of an annual fee is a plus, the high APR and other fees detract from its value proposition. Its reputation as a straightforward, no-frills card from a major issuer is a strength, but the slow path to graduating to an unsecured card and the availability of more rewarding secured cards on the market hold it back. While it serves its purpose for those with poor credit, it's not a standout option.
Pros & Cons
What's great
- No annual fee
- Helps build credit
- Access to FICO® Score
- Fraud protection and security features
- Choose your payment due date
Things to consider
- Requires a security deposit
- No rewards
- High regular APR
- No sign-up bonus
- Foreign transaction fees apply
- High balance transfer and cash advance fees
What this card offers
Other features
- Access FICO® Score
- $0 liability on unauthorized charges
- 24/7 customer service
- Citi® Merchant Offers
- Citi® AutoPay
- Citi® Quick Lock
- Automatic account alerts
- Contactless pay
- Digital Wallets
- Citi® Credit Knowledge Center
- 24-hour fraud protection
- Mastercard® ID Theft Protection
- Chip-based card technology
- Choose your payment due date
- Add Authorized Users
- Paperless statements and e-communications
- Citi Mobile® App
- Citi® Flex Pay
- Citi Entertainment®
Additional Notes
With a secured credit card, once you are approved, you'll provide a security deposit, between $200 — $2,500. The credit limit on your new secured credit card will equal the amount of your security deposit. When you apply, you will select a security deposit between $200 and $2,500 in $100 increments. This deposit directly sets your credit limit (they are always equal) so choosing a higher deposit amount results in a correspondingly higher spending limit on your card.