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Citi secured cards

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Regular Contributor

Citi secured cards

I got shot down applying for a BoA secured card & I was thinking of giving Citi a try. I've read in the past where some people are saying that Citi doesn't report to the CRA for 18 months & when I went to their site it indicates that it does report right away but, it takes 18 months to possibly graduate. I have no problem waiting 18 months for a card to graduate but, I'm not going to apply for a card that doesn't report for the 1st 18 months. Can anyone please clarify if they do or do not report right away ? Thanks very much
Message 1 of 14
13 REPLIES 13
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Regular Contributor

Re: Citi secured cards

Ok, I just spoke to a live agent and they told me that they do report right away & that the 18 month waiting period was false.
Message 2 of 14
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Established Contributor

Re: Citi secured cards

I have the Citi secured card and it reports every month right after the statement closes. The account is supposed to graduate in March and I can't wait to see what CL they start me off with.
Message 3 of 14
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Epic Contributor

Re: Citi secured cards

I think it's one of the hardest secured cards to get and you can't talk to live person to recon if application is declined
Message 4 of 14
Regular Contributor

Re: Citi secured cards

citi is not doing so well (understatement), and their consumer credit products will continue to face significant scrutiny to minimize losses. their secured card is an excellent way to get in the door with a prime bank, but don't expect any great CLIs. conservative CLIs ($500 at unsecuring) are the norm, just like with bofa.

 

you should try US Bank secured card if you get shot down at Citi. they are an excellent financial institution and offer excellent credit card products once you get in the door with them. the only problem is they may not offer some products in all states.

Message 5 of 14
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Established Member

Re: Citi secured cards

Also keep in mind that the citi secured is linked to a cd. So, once you make your initial deposit to establish your cl, you can't change it for 18months, the money is locked, no adding or subtracting.
Message 6 of 14
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Established Contributor

Re: Citi secured cards

YoungEntrepeneur did Citi unsecure your card?

 

what was the CLI if they did?

 

Thanks  

 

Message 7 of 14
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Frequent Contributor

Re: Citi secured cards

I have a Citi secured card that I received December 2009.

 

I applied for another one at the very end of January. Yesterday, Feb 8th, I received an email that I was approved for a second one. They pull EQ and there are no baddies on my report with that bureau. 

“Faith is taking the first step even when you don’t see the whole staircase.”
Message 8 of 14
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Epic Contributor

Re: Citi secured cards

with 655 and no baddies, you couldn't get approved for non secured card?
Message 9 of 14
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Frequent Contributor

Re: Citi secured cards

I wanted a very high limit so I opted to go secure right now. After 18 months, I was told it should unsecure at an even higher limit. We'll see!
“Faith is taking the first step even when you don’t see the whole staircase.”
Message 10 of 14
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