Credit Cards

[texasman07]

Did Citi stop making this card? I have one that graduates in March.  Hoping that it still happens>>???

[Jlu]

The major banks decided that it wasn't profitable enough. 

[trumpet-205]

Secured CC isn't as profitable as it were couple years ago (when savings rates were high).

[Andy77]

One of the Citi Branches had the actual paper secured card application.  This was about 3 months ago.

They might still have it

[JAY305]

They still have the Citi Secured Card.  However, you have to apply at your local branch.  I applied and received the Citi Secured Card back in April 2012.  However, I have not found much information pertaining to if the card automatically graduates in 18 months to an unsecured product.

[cashnocredit]

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gemini704 wrote:

They still have the Citi Secured Card.  However, you have to apply at your local branch.  I applied and received the Citi Secured Card back in April 2012.  However, I have not found much information pertaining to if the card automatically graduates in 18 months to an unsecured product.

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Citi has been pretty consistent about graduating after 18 mo. as long as you kept your nose clean. I had a 25k secured and they graduated me. I still had all my baddies including a big tax lien (paid) even if they were 18 months older. I only recall one account of them not graduating someone who had a clean 18 mo. record.

[JAY305]

Thanks for the information.  I still have several months to go before my secured account reaches the 18 month threshold.  

In the interim, I currently have the Citi Diamond Preferred card with an 8K limit and the credit limit on my Citi Secured card is 500.  When secured accounts graduate, do you know which type of product is offered in addition to the range of the unsecured credit line?    

I have read in several posts that having credit lines below 2K is not very favorable in terms of credit score.  I attempted to remit an additional 3K to Citi to increase my current unsecured card to $3,500.  However, Citi would not accept an additional deposit on an already open account.  It was suggested that I apply for a new account.  

Ultimately, my goal is to significantly increase my credit score.  My current score is 609 and I want to boost it to 685+ over the next year.  I have an agressive debt reduction plan in place to pay off 14K  in debts over the next year coupled with past charged-off accounts that I have already paid off.