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3 Facts That Nobody Told You About Citi Secured Mastercard | citi secured mastercard

The CITI Secured Mastercard is designed with an intention: to assist you enhance your credit worthiness, whether this means building a positive history with the first time, repairing from bad past scores or building on a more stable financial footing. It may be right for you if you are in need of credit repair or are new to credit. There are numerous benefits that come along with this credit card. They can range from discounts to bonus points. But before deciding on anything, you should make sure that you know the exact terms and conditions associated with it. Below are some points you should keep in mind when looking for this credit card.

– The amount you can get to access your credit limit is restricted. To be eligible for this credit card, you need to deposit into an account with CITI. And once you have made the deposit, you can use as much money as you want, provided of course you deposit in on time. You will not be able to exceed your deposit.

– There are also some unsecured cards that offer higher credit limits. Again, the amounts aren't restricted. But since it isn't a cash advance facility, you can use as much money as you want. This is great if you want to make a purchase but don't have cash at hand.

– The qualification criteria for this card is based on the credit score and savings. In other words, if you have a credit score of 720 or better, you are most likely qualified for this. And even if you don't, there are still other ways by which you can qualify. For instance, if you have been employed by the same employer for the past two years, you can apply. Or if you have an active checking account and have not exceeded the required balance over the past two years.

One of the major differences between CITI secured Mastercard and others is the annual fee. This is one area where CITI has got it right. They have eliminated the need for annual fees because they know that their customers make their purchases on a regular basis. If you make purchases regularly, then CITI will never lose money. On the other hand, the competition among banks is so intense that they have resorted to this. You can use the card even without having a regular payment history with them.

But what makes CITI secured Mastercard different from other cards is the fact that they offer other benefits besides cash advances. There is a rewards program that offers points, gift cards and so forth. As long as you have good credit scores, you will qualify for other benefits. Even if your credit scores are below the ideal level, you still qualify for cash advances.

In addition to cash advances, you can also enjoy benefits such as travel miles. Some people may not like travelling. However, travel is important for business people. When they travel, they are usually back at their office before the end of the month. And who can work well without travel points? The bottom line is that the benefits offered by CITI secured Mastercard are excellent.

A major part of the program is that you will receive a six-month security deposit. This security deposit can be used in conjunction with airline miles and other rewards. Once you have met the requirements of the program, you can withdraw your cash advance on the same day that you submit your application.

The fees associated with CITI secured Mastercard are reasonable in relation to the rewards offered. This fee is a one-time administrative fee equal to five percent of your cash advance amount. There is no annual fee associated with this service. This benefit is only available to cardholders with positive credit histories. You will find that this is the most affordable way for people to meet the requirements for earning rewards.

When you apply for a CITI secured credit card, you will find that there are no application fees, no set up fees, and no set up credit requirements. On the other hand, if you choose a standard card without a security deposit, you will likely be subject to a set of application and approval fees. These additional charges can make it more difficult to build credit.

If you want to know how your credit limit will be equal to a diamond Preferred Card worth a hundred dollars when you make a monthly payment of fifteen hundred dollars, you need to know the balance of your account and the amount of your deposit. If you have a zero balance, you do not have to worry about building your account to have the required amount for a diamond preferred card. If you have a higher deposit, you need to increase the amount of your deposit to be equal to the balance on your account.


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