Citi
Citi Secured Mastercard
No-fee secured credit card designed to help build or rebuild credit with a security deposit-based credit limit and reporting to major bureaus.
Annual fee
None
Quick look
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2.1
out of 5
Rewards
Fees
Welcome bonus
Perks
Value
Overall score is a weighted average: Rewards 20% · Fees 20% · Welcome bonus 20% · Perks 20% · Value 20%.
Ideal for
People with little or no credit history who need a low-cost way to build credit history and cannot qualify for unsecured cards.
The verdict
The Citi Secured Mastercard does one thing well: offer a no-fee path to build credit history when your score is too young or too damaged for unsecured cards. Citi reports to all three bureaus monthly and requires a modest $200 minimum deposit, making it accessible to applicants banks have otherwise turned away.
The catch is that it's purely functional—no rewards, a 26% APR that hurts if you carry a balance, and no automatic graduation. After 18 months of on-time payments, you'll need to call Citi yourself to request an upgrade to an unsecured card and get your deposit back. If you're building credit as a stepping stone and won't carry a balance, it works. If you're expecting this card to pay for itself or offer a path to rewards later, it won't.
Pros
- Zero annual fee makes it affordable to hold while building credit.
- Reports to all three major bureaus monthly, accelerating credit score recovery.
- Low $200 minimum deposit and flexible limits up to $2,500 fit various budgets.
Cons
- No rewards on any purchases—every dollar spent has no earning potential.
- High 26% APR and 3% foreign transaction fee make the card expensive if you use it.
- Must manually request graduation to unsecured status; Citi won't automatically review you.
Fees and APR
Does it pay for itself?
The Citi Secured Mastercard charges no annual fee, making it one of the cheapest ways to start rebuilding credit. The real cost is the 26% variable APR if you carry a balance and the 3% foreign transaction fee on international purchases, both of which are steep for a no-fee card. As long as you pay your full balance each month, the APR is moot.
Similar cards
BankAmericard Secured offers automatic reviews for graduation and rewards earning (1% cash back), though it requires a higher $500 minimum deposit.
Discover Secured provides 2% cash back on restaurants and gas, cashback at other merchants, and automatic graduation reviews—but only accepts a $200–$2,500 deposit like Citi.
Frequently asked questions
What happens to my security deposit after 18 months?
If you've made on-time payments for 18 consecutive months, Citi may offer to convert your account to an unsecured card. You must contact Citi to request this—they do not automatically review you. Once approved, your security deposit is released and returned to the account you specified during application, typically within 7–10 business days.
What if my application is denied?
Citi evaluates credit history, income, and debt when reviewing applications. They may deny applications from people with recent bankruptcy (within 2 years), no verifiable income, or a thin credit file with negative marks. If denied, wait 6 months and reapply, or ask Citi for reconsideration with new supporting information (such as a co-signer or higher deposit).
Can I use this card internationally?
Technically yes—the card is accepted globally as a Mastercard. However, a 3% foreign transaction fee applies to all non-USD purchases. This fee makes the card expensive for international travel, so consider a no-fee rewards card instead if you travel regularly.
Will this card ever give me rewards?
No. The Citi Secured Mastercard has no rewards program, cash back, or bonus earning of any kind. If earning rewards is important to your credit-building strategy, you may want to consider the Discover Secured Credit Card (2% cash back) or another rewards-bearing secured card.
Reviewed by YoungerFinance Editorial · Last updated August 10, 2026