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Established Contributor
texasman07
Posts: 547
Registered: ‎02-17-2011
0

What happened to the Citi Secured Card?

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

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Established Contributor
Jlu
Posts: 922
Registered: ‎06-12-2012
0

Re: What happened to the Citi Secured Card?

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

JP Morgan Select $10k | CSP $10k | Citi TY Premier $15k | BofA 3-2-1 $15k | Chase Freedom $10k | Discover IT $10k | Barclaycard $15k | AMEX SPG $5k | AMEX PRG NPSL | NASA Platinum-Advantage $10k | CapOne Quicksilver $3k | Walmart Card $5k | Amazon Card $10k | Chase Auto 1.49% | Joined myFICO 6/12 with a 540 FICO & today I'm over 750!
Valued Contributor
trumpet-205
Posts: 2,494
Registered: ‎11-11-2010
0

Re: What happened to the Citi Secured Card?

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

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Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Established Contributor
Andy77
Posts: 667
Registered: ‎10-02-2007
0

Re: What happened to the Citi Secured Card?

 

 

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

They might still have it

 

 

Frequent Contributor
TrueGeminiNC
Posts: 309
Registered: ‎10-10-2012
0

Re: What happened to the Citi Secured Card?

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.

Established Contributor
cashnocredit
Posts: 1,028
Registered: ‎07-18-2009
0

Re: What happened to the Citi Secured Card?


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.


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.

 

 

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Frequent Contributor
TrueGeminiNC
Posts: 309
Registered: ‎10-10-2012
0

Re: What happened to the Citi Secured Card?

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.


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