Citi(R) Citi(R)

Start building credit for tomorrow.

The Citi® Secured Mastercard® is an option for people with limited or no credit history and, unlike traditional credit cards, requires a security deposit. A secured credit card is a way to help build the credit you’ll need someday as you make everyday purchases and on-time payments on your card.

Citi(R) Secured Mastercard(R)

Citi® Secured Mastercard®

  • No Annual Fee1
  • Variable purchase APR of 23.74%1
  • A security deposit2 is required for this product (minimum $200)

What is a secured card and how is it different from a traditional credit card?

A secured card is an option for people with little or no credit history, offering them the opportunity to help build a credit history as they make everyday purchases on their card, and pay their bill on time every month. Unlike traditional credit cards, a secured card requires a security deposit. To see our unsecured products visit citicards.com.

How does the security deposit work?

When submitting an application, submit a security deposit between $200 and $2,500. Once your security deposit is received and you are approved, your credit limit will be equal to the security deposit that you’ve submitted. Your security deposit will be held in a Collateral Holding Account for 18 months and will not earn interest. If your credit card account is in default, we may apply your security deposit to the outstanding credit card balance and close your account.

How can I receive a Citi Secured Mastercard?

To receive a Citi Secured Mastercard you must meet our credit qualification criteria for this card, which includes our review of your income and your debt. If you are approved, your credit limit will be equal to the amount of your security deposit. You must not have any bankruptcy history within the last two years.

HOW TO APPLY AND GET STARTED:

  • Number 1 HOW TO APPLY >
  • Number 2 If you are approved >
  • Number 3 Once you receive your card >

HOW TO APPLY AND GET STARTED:

Number 1 HOW TO APPLY

  • Complete the online application form.
  • In the online application, please be prepared to provide your Social Security number, bank routing number and bank account number, along with some other personal information.
  • Submit a security deposit between $200 and $2,500. Your security deposit will be transferred via Automatic Clearing House (ACH). If you do not have a bank account, please visit a Citibank branch to speak with a banker about applying for the card.
  • You must meet our credit qualification criteria for this card. We will review your income and your debt to determine if you qualify for this card, with a credit limit equal to the amount of your security deposit. You must not have any bankruptcy history within the last two years.

Number 2 If you are approved

  • If you are approved, your security deposit funds will be withdrawn from the bank account you provided without further notice. Please ensure you have enough money available in your account to cover the security deposit. In certain circumstances, the transaction may take up to 30 days to complete. Once you are approved your security deposit will be held in a Collateral Holding Account for an 18 month term. This account will not earn interest.
  • Once your security deposit is received and you are approved, your credit limit will be equal to the security deposit that you’ve submitted.

Number 3 Once you receive your card

  • Use your new secured card everywhere Mastercard is accepted, for everyday things you are already buying.
  • Pay your bill on time every month. Citi can help keep you on track with AutoPay, Online Bill Pay and alerts.
  • Citi will send monthly notifications to the credit bureaus about your account, which will help you establish your credit history. Not making your minimum payments on time each month can damage your credit, so it’s important to pay your bills on time.
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