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* UPDATE* Citi secured MC now has NO AF

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Anonymous
Not applicable

Re: Citi secured MC now has NO AF

Thx! 

 

Dang it ☹️

Im in the garden.....☘🌷🌺🌻💐🌹🌾 but I might need to bust out again and get that secured card 😂.

Message 11 of 37
ddemari
Super Contributor

Re: Citi secured MC now has NO AF

I opened the Citi secured MasterCard in August, took several weeks to get the card and now I see the $0 annual fee, thanks to pizza.

 

there are a lot of good secured cards out there offering more than Citi's along with no annual fee and much smaller time frame on unsecuring. 

 

But, I too, wanted to try and get in the Citi Legacy side as they hate me, so I did the secured card. 

 

I reached out to the EO yesterday asking if my annual fee could be returned as I just opened this card and now it has no fee.

 

The gentleman told me he had no power to do anything but would have someone return my call with a decesion. 

 

I just off the phone with the guy from Citi EO, he told me unfortunately the Citi secured mastercard is for rebuilding and the annual fee can not be waived. I said I dont understand because on your website the exact card I have, which was opened less than 2 months ago now says $0 annual fee. He said, well that might be so but unfortunately this card has a fee and citi has got strict on waiving card fees. 

 

But, if you want to close the card and reapply for it you are more than welcome. I said that sounds stupid, I am just asking if you can give me my 25 dollars back as I just opened this card. He said no this can not be done. It was like he and I were not on the same page but I totally articulated the story easily and he is in the EO office, you would think he would know whats up? Im not mad at about the 25 dollars, just thiink they poorly handled my call. 

 

The FNBO Visa and Discover It are two great secured cards for anyone looking for secured cards not to just get in with Citi. 

Message 12 of 37
Anonymous
Not applicable

Re: Citi secured MC now has NO AF


@ddemari wrote:

I opened the Citi secured MasterCard in August, took several weeks to get the card and now I see the $0 annual fee, thanks to pizza.

 

there are a lot of good secured cards out there offering more than Citi's along with no annual fee and much smaller time frame on unsecuring. 

 

But, I too, wanted to try and get in the Citi Legacy side as they hate me, so I did the secured card. 

 

I reached out to the EO yesterday asking if my annual fee could be returned as I just opened this card and now it has no fee.

 

The gentleman told me he had no power to do anything but would have someone return my call with a decesion. 

 

I just off the phone with the guy from Citi EO, he told me unfortunately the Citi secured mastercard is for rebuilding and the annual fee can not be waived. I said I dont understand because on your website the exact card I have, which was opened less than 2 months ago now says $0 annual fee. He said, well that might be so but unfortunately this card has a fee and citi has got strict on waiving card fees. 

 

But, if you want to close the card and reapply for it you are more than welcome. I said that sounds stupid, I am just asking if you can give me my 25 dollars back as I just opened this card. He said no this can not be done. It was like he and I were not on the same page but I totally articulated the story easily and he is in the EO office, you would think he would know whats up? Im not mad at about the 25 dollars, just thiink they poorly handled my call. 

 

The FNBO Visa and Discover It are two great secured cards for anyone looking for secured cards not to just get in with Citi. 


Congrats on your approval! Sorry you weren't able to get the AF waived. It may be a good idea to wait and see what happens with pizza. If she has a positive outcome, I would try again. Best of luck to you both!

Message 13 of 37
pizza1
Community Leader
Super Contributor

Re: Citi secured MC now has NO AF


@ddemari wrote:

I opened the Citi secured MasterCard in August, took several weeks to get the card and now I see the $0 annual fee, thanks to pizza.

 

there are a lot of good secured cards out there offering more than Citi's along with no annual fee and much smaller time frame on unsecuring. 

 

But, I too, wanted to try and get in the Citi Legacy side as they hate me, so I did the secured card. 

 

I reached out to the EO yesterday asking if my annual fee could be returned as I just opened this card and now it has no fee.

 

The gentleman told me he had no power to do anything but would have someone return my call with a decesion. 

 

I just off the phone with the guy from Citi EO, he told me unfortunately the Citi secured mastercard is for rebuilding and the annual fee can not be waived. I said I dont understand because on your website the exact card I have, which was opened less than 2 months ago now says $0 annual fee. He said, well that might be so but unfortunately this card has a fee and citi has got strict on waiving card fees. 

 

But, if you want to close the card and reapply for it you are more than welcome. I said that sounds stupid, I am just asking if you can give me my 25 dollars back as I just opened this card. He said no this can not be done. It was like he and I were not on the same page but I totally articulated the story easily and he is in the EO office, you would think he would know whats up? Im not mad at about the 25 dollars, just thiink they poorly handled my call. 

 

The FNBO Visa and Discover It are two great secured cards for anyone looking for secured cards not to just get in with Citi. 


Hey D..

 

Sorry for your unfortunate phone call...glad it was you and not me...I would have closed it down long before, LOL...I dont do well with ding bats, and especially who would tell me to "re-apply" for a secure card that took me months to get anyways. What an idiot!

 

Ill keep everyone posted on my outcome, and report back here. I still havent received a phone call back from EO. They have until tomorrow, or then Ill make my presence known ....again Smiley Wink

Message 14 of 37
Anonymous
Not applicable

Re: Citi secured MC now has NO AF



😃!!!!!!NOIICE!!!!!!!😃
_____________________________

Thks for info!!!
Message 15 of 37
Anonymous
Not applicable

Re: Citi secured MC now has NO AF

To be honest I think secured credit cards need to be regulated more. 

 

If you think about it, the bank gets the interchange fees, an annual fee, and interest + other fees from the average person who holds this type of card, plus the abilty to loan out the money the person puts down as collateral while virtually taking zero risk with anything. I'm honestly suprirsed some banks like Key and Chase don't offer such a product. 

 

Unless the secured card is really good... ie. (Bank of America who gives out generious CLI's and secures it in less than a year for most people), I don't see the point of paying an annual fee to have a secured card when many out there are free, and some are free and offer rewards. Everyone with experience on here knows Citi isn't generous with credit lines to most people, and even if the card does graduate, it looks like it would be product changed to a Diamond Preferred, which isn't anything special either.. 

Message 16 of 37
happypill
Valued Contributor

Re: Citi secured MC now has NO AF

I think the assumption is that if you get the secured card and it graduates in 18 months or whatever, you're back in and can then apply for legacy products.  My question is, has anyone in fact been able to do that, or is it too soon to know so far?

 

Good luck with getting the AF removed.

Message 17 of 37
morgacj2004
Valued Contributor

Re: Citi secured MC now has NO AF

Thanks Pizza I have the card 12 months now. Will call EO Also my wife got the CITI Costco card. I was declined. CITI YW told me at Recon that COstco card is not Legacy?

AX Hilton Aspire 20k, AX Bonvoy Brilliant 15k, AX BCP 2k, AX Blue Bus Cash 15k, AX Delta Air Platinum 49k, (AU) AX Delta Gold 15k, AX Amazon Prime Bus 25k, BC Uber 29k, AKUSA FCU -10k , CITI AAdvantage Exec World Elite MC 16.5k, Discover (2) 16k, Kohls-4k, VS Comenity $3k, BofA AK Air Siggy 9.8k, WF Propel AX 5k, JCP $10k PFCU Plat Rewards Siggy 39.5k, PFCU Power Cash Rewards AX 10.5k, NFCU Flagship 50k, CLOC 15k, CITI Costco 9.5k, GAP VISA Synchrony $9k,Target MC 9k, Ulta MC Comenity 9k, Pay Pal 1k, CO Venture One 23k, US Bank Radisson Rewards Signature 10k, US Bank Fred Meyers World MC, 11k, US Bank Plat VISA 15.7k, VS Comenity 2k, 240k total available credit. Utiliz-2%, Current FICO EQ-724, EX 763,TU 802 ,Chapt 7 BK D/C 11-2012. Starting scores 520-550
Message 18 of 37
Anonymous
Not applicable

Re: Citi secured MC now has NO AF


@pizza1 wrote:

Hey everyone! Just a little FYI for those interested in the future, or for those who currently have this card.  I was browsing a few weeks ago in Citi's website at their cards for a friend, and scrolled all the way down the page and saw their secured MasterCard and noticed something a little different this time about it...... 

 

The card now has NO AF.  

 

I just got this card 3 months ago as a sooner "in" with Citi on their legacy side, and at that time there was a $25 AF, which I paid on 1st statement in July!

 

So naturally I've contacted EO to have the $25 AF refunded to me along with the AF removed completely going forward since it's now being offered to public on their website with NO AF, (they have the potential to charge me one more time next June, before the 18month graduation).  I will come back and update my thread once I've received resolution. 

 

p.s.   Frontline CSR and managers can't do anything, so don't waste your time, just go straight to EO. (This of course is for those of us who have this secured card already recently). 

 

 

 

 

image.jpg


You are a real "team player," pizza, for sharing this!Smiley Happy

Message 19 of 37
Anonymous
Not applicable

Re: Citi secured MC now has NO AF


@Anonymous wrote:

To be honest I think secured credit cards need to be regulated more. 

 

If you think about it, the bank gets the interchange fees, an annual fee, and interest + other fees from the average person who holds this type of card, plus the abilty to loan out the money the person puts down as collateral while virtually taking zero risk with anything. I'm honestly suprirsed some banks like Key and Chase don't offer such a product. 

 

Unless the secured card is really good... ie. (Bank of America who gives out generious CLI's and secures it in less than a year for most people), I don't see the point of paying an annual fee to have a secured card when many out there are free, and some are free and offer rewards. Everyone with experience on here knows Citi isn't generous with credit lines to most people, and even if the card does graduate, it looks like it would be product changed to a Diamond Preferred, which isn't anything special either.. 


I'm sorry the moment I see the words "need to be regulated more. "

I cringe...I HATE the idea of WHAT the government FORCING a business to extend credit based upon 'what'

the public's desire to TRY MORE TIME AT IT?

 

As mentioned, there are plenty of options out there ...if a vendor wants this type of business fine if not , it should be their call.

If they want to restrict whom the attract, again their call....

 

Ppl CLAIM that there isn't any risk...no big deal....great for the lender, well there is a REASON not everybody chases this business.

If it were SO GREAT...you'd see all the fighting and the rush to grab market share, this things are FAVORS ( and great GIFTS, to allow us to re-start or kick start ourselves again) I wouldn't go so far as to say 'wow, cash cows' ....again there is a reason these things aren't aggresively pushed and overly highly marketed.

 

You take a wonderful place like NFCU a generous lender, with what many would call rather EASY UW....but guess what they have a rather HIGH barrier to entry at a $500 deposit....again for a reason

 

If it were such a GREAT deal and could help grow biz why wouldn't they have a lower barrier....I'll tell you ...They don't want to headaches and to be bunt the TRASH that comes with the audience that can't put together $500 to secure an account....think of it $5 saving account for membership so so credit BAM approved...a bit whose credit ...nah you gotta find $500 more we won't freak with you...

 

BoA and several others will still run credit and tell certain folks NO even with the 'deposit'....if the deposit meant ZERO risk....they'd be given out like candy but many of the Big Boys still PASS for a reason....

 

But PLEASE no government REGS to force banks to extend credit to the non-credit worthy...let's leave a few things for the market to work on by itself.

Just like our wonderful forum here we SHARE info and tips on where to grow, whom to deal with based upon our experience and the market but please no politician hacks TELLING us and them ....who needs to get hitched...let of choose our brides I beg of youSmiley LOL

 

You know I'm mostly ribbing but honestly no politicians:Smiley Frustrated

Message 20 of 37
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