Is Citibank Secured Credit Card Hard To Get

If the cardholder uses the credit card but doesn t make the payments as promised then the card issuer can keep the cash deposit. Secured cards like this provide a road to better credit scores as long as you commit to using them responsibly.

Previously you must understand the background of Credit and get some Is citibank secured credit card hard to get references in other articles on this website.

This cash deposit is called collateral.

Is citibank secured credit card hard to get. I ve seen much higher amounts on other cards like this. A bank that offers a secured credit card requires the applicant to make a cash deposit before it will open the credit card account. With no risk to the lender you get a low interest rate and the loan helps build credit.

Fortunately citi like many other major card issuers targets specific consumers with card offers that match up with their credit profiles without a hard pull to your credit. These work like secured credit cards. Because citibank credit card applications are dependent upon numerous circumstances and requirements the only way to know if you will be approved or denied is by sending in an application.

You deposit money into a savings account then borrow against it. Top citi cards for prequalified offers prequalify on the citi website. If you have bad or limited credit you ll have a hard time qualifying for most credit cards especially those with rewards programs.

There is even significant variation in terms of the exact credit score or amount of disposable income you must have to get approved for cards that reportedly require excellent credit. To receive a citi secured mastercard you must meet our credit qualification criteria which includes a review of your income and your debt. A minimum deposit of 200 isn t too bad considering you re trying to build up your credit.

Others notably secured credit cards offer what amounts to guaranteed approval and are thus the easiest to get approved for. If approved a security deposit is required for the amount of your credit limit between 200 2 500. In the end the better the credit the more likely one is to be approved for a credit card.

This is one of the better secured credit cards i have seen compared to others that are similar. The only reason to get the citi secured mastercard is to improve your credit. Credit cards like the citi secured credit card are necessary for building your credit back up.

Take the first step toward achieving your financial goals and apply for citi s secured credit card today. Read on to learn more about how to unlock these deals. What if i don t meet the citi approval requirements.

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