Review
Citi® Secured Mastercard® Review: Simple Way to Build or Rebuild Credit
Looking to build or rebuild your credit? The Citi® Secured Mastercard® could be your straightforward solution, offering a simple path to improving your credit score without the bells and whistles of a rewards card.
| Annual Fee | $0.00 |
| Regular APR | Purchase Rate: 25.99% Variable 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. |
| Rewards Rate | No rewards rate |
| Sign-up Bonus | No signup bonus |
| Other Fees | 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. |
Overview
Pros & Cons
What's great
- No annual fee
- Low credit score requirement
- Tools to help you stay on track
Things to consider
- High regular APR
- No sign-up bonus
- No rewards
- Foreign transaction fees apply
- High balance transfer fee
Benefits
Drawbacks
Decision Guidance
Summary
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...