Skip to content Skip to sidebar Skip to footer

Why Is Citi Secured Mastercard Reviews So Famous? | citi secured mastercard reviews

Citi Secured Mastercard (Secured MasterCard): is a credit and debit card that competes with other products such as American Express, Discover and MasterCard. You can get this card by opening a bank account with Citibank or by applying online for a debit card. The Citibank program is more attractive due to the low annual fee, rewards, and cash back programs that it offers. The same as other cards, this card is accepted at over 500 stores worldwide and you can get your credit limit increased anytime if you meet the requirements. It gives the option to pay in any of the major currencies including U.S. dollars, Pounds, Euros, Yen, and Canadian Dollars. You have a lot of perks as this card has a number of added benefits.

As you know, Citibank categorizes its secured credit card application credit card approval into four categories. The highest rate of interest is in the unsecured category and the lowest rate is in the secured category. And the lowest rate of interest in this secured category is in the regular category. This means if you want to apply for a secured credit card application, you will have to qualify for one of these categories: Regular, Premier, Secured, or Preferred. This classification is based on your financial history as well as the security features present in the credit card.

As you may have guessed, Citibank's regular secured card is the least expensive one in this category. The best feature about this card is that you have the freedom to decide how much you spend and hence choose a spending limit that suits you. Unlike other cards, you don't have to wait for an approval; you can approve an application today and apply to another card today if you find that you are not approved. However, you are required to pay a $500 application fee if you wish to be in this category.

As mentioned earlier, the next most common category is the Premier category. In this category, you will enjoy higher credit limits than in the other two categories. This is mainly because Citibank prefers to have a longer credit history in this category. The benefits you enjoy under this category include:

The last type of category is the Secured category. This is mainly used by people with poor credit histories. In this category, you are granted credit and you have to repay the money within two hours. You are also required to present a security which means any of your assets like stocks, bonds, or property can be used as collateral. The benefits you enjoy in this category include: low annual charges, low APRs, etc.

As we know Citibank restricts the number of credit cards you can have. Therefore, if you wish to apply for any of the above said cards, you should apply for a secured one. This is done so as to ensure that no one will take advantage of you. Basically, if you are unable to pay the debt in two hours, Citibank reserves the right to deactivate your security deposit and freeze all your accounts.

Citibank prefers to issue secured credit cards to its clients only. In order to qualify for one of the above categories, you have to apply for the same. You should not misuse the privileges which are extended to you. This is the reason why Citibank restricts the number of cards to a maximum of two. If you misuse the privilege, Citibank would deactivate your security deposit and freeze your accounts. Hence, before you make applications for any of the above categories, you should ensure that you are applying for an unsecured card or else you would have to use words like “not eligible” or “not permitted” in your application form.

Citibank has four secured reward categories and they are cash back category, gas category, air mile category and the hotel category. Each of these categories offers different rewards. You should read through each of the sentence and find out whether you would receive cash back or miles if you apply for a reward of gas. This would help you determine which of the four categories you would be better off opting for.


Citi Secured Mastercard Review – Build or Improve Your Credit – citi secured mastercard reviews | citi secured mastercard reviews


Citi Secured Mastercard Review: Worth the Effort? – citi secured mastercard reviews | citi secured mastercard reviews


Citi Secured MasterCard Credit Card 4 Review – Should You Apply – citi secured mastercard reviews | citi secured mastercard reviews


Citi® Secured Mastercard® Reviews 4 Credit Karma – citi secured mastercard reviews | citi secured mastercard reviews

Post a Comment for "Why Is Citi Secured Mastercard Reviews So Famous? | citi secured mastercard reviews"