Citi® Secured Mastercard® Review

Updated: June 11, 2024

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Citi® Secured Mastercard®

APR27.74% variable
Min. Security Deposit$200
Annual Fee$0
Recommended Credit(No Credit History)

The Citi® Secured Mastercard® is an excellent choice for those building or repairing their credit. It bolsters credit history through regular reporting to major bureaus and encourages responsible spending with a security deposit as a credit limit. This card offers exceptional benefits like no annual fees, worldwide acceptance, and compatibility with digital wallets. Additionally, it provides flexible payment options and robust security features, including ID Theft Protection. A key highlight is the free access to your FICO score, making it a practical and secure choice for everyday financial management and credit monitoring.

Citi® Secured Mastercard® Overview

When choosing a credit card, it's essential to critically assess its features, as they can significantly impact your financial journey positively and negatively.

  • Regular APR - 27.74% (variable)
  • Deposit required - $200-$2,500
  • Potential credit limit - $200-$2,500 (equal to your deposit)
  • Annual fee - $0
  • Rewards rate - None

Important Card Details

Exploring the features of a credit card can reveal a lot about its suitability for various financial needs and goals. In this analysis, we delve into two key aspects of the Citi® Secured Mastercard®: its no annual fee and the relatively high maximum credit limit, to understand how they align with consumer needs in credit building and financial management.

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    Security Deposit

    The Citi® Secured Mastercard® requires a security deposit that sets the credit limit. Deposits range from $200 to $2,500, making it accessible for various budgets. This deposit acts as a safety net for the issuer and a spending limit for the user. It’s refundable, serving as a stepping stone towards unsecured credit cards once creditworthiness is established.

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    Credit Requirements

    Catering to consumers with limited or no credit history, the Citi® Secured Mastercard® is an inclusive financial tool. This accessibility is pivotal for those starting their credit journey or rebuilding credit scores. The card requires a review of income and debt, ensuring applicants have the financial stability to manage credit. This approach encourages responsible credit use and provides an opportunity for consumers often overlooked by traditional unsecured cards.

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    Fees

    A major advantage of the Citi® Secured Mastercard® is its no annual fee feature, making it a cost-effective option for building credit. However, it's important to note the relatively high variable purchase APR of 27.74%. While this is common among secured cards, it underscores the importance of paying balances in full to avoid interest charges. The absence of annual fees combined with high APR highlights the card's educational purpose over profitability.

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    Other Perks

    The card offers several benefits often found in unsecured cards, such as worldwide acceptance and 24/7 account management via online, phone or app. The inclusion of Auto Pay and account alerts aids in managing finances effectively. Digital Wallets provide a secure shopping experience, while Mastercard® ID Theft Protection™ adds an extra layer of security. These features enhance the user experience, making the card a credit-building tool and a convenient and secure everyday payment option.

How the Citi® Secured Mastercard® Compares

In this comparison, we'll closely examine the features and benefits of two popular credit cards to assist you in identifying the one that aligns best with your financial needs and objectives.

How This Card Compares

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Citi® Secured Mastercard®

  • Regular APR - 27.74% (variable)
  • Deposit required - $200-$2,500
  • Potential credit limit - $200-$2,500 (equal to your deposit)
  • Annual fee - $0
  • Rewards rate - None
  • Best for: Those seeking to establish or improve credit with a simple, no-annual-fee card offering a credit limit equal to the security deposit.
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Capital One Platinum Secured Credit Card

  • Regular APR - 30.74% (Variable) (See Rates and Fees)
  • Deposit required - $49-$200 (depending on credit)
  • Potential credit limit - $200-$1,000 (depending on your deposit)
  • Annual fee - $0 (See Rates and Fees)
  • Rewards rate - None
  • Best for: Those building or repairing credit, offering a low initial deposit, manageable credit limits, and no annual fee.

About Grace Pilling


Grace Pilling headshot

Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.

Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.


*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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