Citibank Secured Mastercard...Great way to go

Takunda1 · ‎08-16-2007

I just found this and I think it's an awsome card for someone who istrying to rebuild their crfedit.

https://www.citicards.com/cards/wv/cardDetail.do?screenID=940

"Deposit an amount, from $200 to $25,000 into a CD (Certificate of Deposit). Your credit card limit then becomes equal to the amount of money in your CD. In 18 months, as your credit score improves, you could become eligible for an unsecured Citi Platinum Select credit card. Meanwhile, you'll earn 4% annual interest on your CD."

fused · ‎08-16-2007

I wasn't aware CITI was offering such a card. Even with a $29 AF, it looks like a solid deal. A CL of up to 25K is very attractive too. Good post!

Takunda1 · ‎08-17-2007

fused111 wrote:
I wasn't aware CITI was offering such a card. Even with a $29 AF, it looks like a solid deal. A CL of up to 25K is very attractive too. Good post!

It seems CITI isn't marketing this product very hard. I actually came across it while reading some financial article from 2006. I think this is a great card too. If one has the money upfront I think this knocks outh the Bank of America 99/500 card.

Anonymous · ‎08-17-2007

actually citi has discontinued offering secured cards

fused · ‎08-17-2007

ashabbir1 wrote:

actually citi has discontinued offering secured cards

Too good to be true!

indyhotmama · ‎08-17-2007

I just called Citibank and they said that they still offer the card but you cannot apply online. You have to call 1-888-166-2484 (which I haven't done yet) to request an application. I am thinking about doing this for my teenager.

Takunda1 · ‎08-18-2007

ashabbir1 wrote:
actually citi has discontinued offering secured cards

Don't know where you got that from, but that is not true about the card above. You have to call a special number to get the application or you can walk into any CITI Branch and they'll do it for you while you wait.

Anonymous · ‎08-18-2007

Actually you are right. few days ago i was looking at some website and it says that CHASE and CITI discontinued secured credit cards. I did not call citi to confirm that. But now I called and they would mail me the secured credit card application. I cant find Chase secured card .