Citibank secured credit card

[ScottsdaleDad]

Does anyone know the minimum fico for the Citibank secured credit card? How long does it take from application until you received a decision?

Thanks

[YoungEntrepeneur]

Look elsewhere if you have baddies on your CR. This card is for consumers who have limited history and want to build credit history rather than rebuild.

[cashnocredit]

A year ago I was at about 580 and got a WF secured CC. Six months ago I was around 650 FICO when I first got a Citi secured. I had several utility CAs and a tax lien that were about 3 years old but clean in the last 2 years. Also no bk as I've heard they really don't like a bk on the file. I love the interest rate on the CD. Best deal anywhere.I just broke 700 and now have a pre-approve for a Discover More with great rates. Before that the best offer I got was Premiere with about $260 in front end fees for a 300 line. Yuck.

[ScottsdaleDad]

Thanks for the info. I applied for a WF secured card last Friday, but still haven't heard a decision. I guess that's a good thing I haven't been declined yet. Still waiting for Citibank decision. They took their money out on 2/23. The only card I have so far is Orchard. Was just turned down for NASA FCU. Will try Navy FCU next as I heard they are BK friendly. I'm looking 3-4 cards to build my credit. Will post when I hear back from everyone.

[Anonymous]

I was denied for the Citibank secured, took over a week for them to get back to me, and a week after that to return my funds for the secured deposit. I only have one cc open boa, no baddies in 4yrs. It would be great if Citi gave a response as quickly as they withdrew the funds.

[Anonymous]

I still don't understand that they can deny you a CD.  Anyone?????  At over 4% it is a good rollover it would seem.

Do you mean you need good credit to put your own money up.

[emartin82]

that really sucks. if you got denied with bad accounts four years ago then i dont stand a chance. another wasted inquiry.

[ScottsdaleDad]

I just got turned down by WF for their secured card because of my BK discharged 4/08. Citibank said I should have a final decision on Friday. Not holding my breath though. I'm trying credit unions exclusively from now on so I'm not wasting hard inquiries.

[laz98]

shouldn't they approve you before they start picking your pockets????

[ScottsdaleDad]

You would think so. Citibank takes their money out in 1 day, and I heard it takes a week to get it back if they turn you down. Interesting how they can ACH your account in 1 day, but they can't refund your money by ACH.