Review of Citi Secured Mastercard

Citi Secured Mastercard belongs to the classic secured cards. Like many others, it has its advantages and disadvantages. One of the major benefits of it is that it is very easy to get one.

If you look for clients comments about Citi Secured Credit plastic you will understand this plastic is ideal for people who have no credit history or a low credit score. With Citi Mastercard, they can quickly start to gain a positive financial image.

Benefits of Citi Secured Mastercard

The plastics have many advantages. It will be the most beneficial for the clients who never took credit. The card guarantees the loan in the way every secured plastic does it. The customer has to put money on the deposit in order to open a credit account.

Only then he starts to use the credit line. What is good to remember secured plastics educate the clients to pay back the loan correctly. If it happens to be the client does not have money to pay by the payment due date, the bank charges this sum from the deposit account. So, the risk the bank undergoes is minimum.

Here are some major advantages the users of Citi Secured get:

  • Easy approval for a loan. If you want to open Citi Mastercard, most probably you will get it. Even clients with bad score get it.
  • Zero annual fees. That is truly advantageous. Very rarely secured plastics are offered at zero annual cost.
  • You can open the plastic even if you put on the deposit as little as 200 dollars.

These are main advantages of the Citi Mastercard. Use them and enjoy the offer.

Disadvantages of the card

Though Citi Mastercard offers many benefits, it also has some disadvantages. Here are the main ones:

  • The Annual Percentage Rate is truly high. They can be as high as 21 %. That is quite much. The clients can find the secured cards with APR equal to 7 % only.
  • You can’t get truly big credit with this plastic. The client can get maximum 5 000 dollars borrowing.
  • It offers little bonuses. Usually secured cards give many rewards and bonuses to the clients. They can get cashback and collect air miles.

These disadvantages are important to take into consideration when opening this secured plastic. If you do not do it, you will get disappointed. Choosing a plastic is a truly responsible thing.

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