The Citi Secured Mastercard review looked at the advantages of the card over some of the better known credit cards. It is a low-interest card specifically for those with poor credit histories, bad credit, or those who are beginning to rebuild their credit. In this review, we looked at its advantages: its interest rate is guaranteed for as long as you maintain your account and only affected by your current credit history. Specifically, we looked at the Citi Secured Mastercard's features and benefits. After looking at these, we'll take a look at a few tips on how you can maximize the benefits this card has to offer.
One of the advantages of this particular citi Mastercard, is that it has no annual fee. This means you can avoid having to pay this money out of your own pocket. By paying a small deposit on your account every year, you ensure that the money is available to you when it is needed. This is an excellent way to keep a large portion of your payment and interest separate from your deposit, which will help to protect your credit score.
Some of the benefits of this credit card is that you will be able to make unlimited purchases and cash advances. You will also be able to get instant approvals for your cash advances. APR balance transfers may also help you to keep a large portion of your payment and interest separate from the cost of transferring your balances. And finally, you will be able to get a substantial discount when you use your credit card to make purchases overseas. This discount is equivalent to about 2% of the cost of your purchase.
There are a couple of disadvantages to the CITI secured credit card. First of all, if you do a lot of traveling, then you will be limited by the cash advance limit. If you transfer a high balance to a lower APR balance transfer card, then you will end up paying more interest. Also, the higher APR usually means a higher annual fee. However, if you pay off your balance in full each month, then you can use this card as a cash advance tool without having to pay out more interest each month.
There are also some other special rewards that can be enjoyed by holders of the CITI secured card. For example, some of the cards will give you bonuses, such as travel points and hotel stays at a discounted rate. In addition, there are some incentives that are given to people who enroll in certain CITI plans. For example, if you sign up for five or ten years of service and complete one of these plans, then you will be eligible to receive a percentage of the points that are earned toward a percentage of the regular APR.
As with any other secured credit card, you will need to have sufficient funds in order to make a deposit. There are usually a small deposit requirement and usually around $200 credit line. However, you can choose how much money you want to put . . . . . . on deposit, as well as what kind of deposit you would like. You can make an electronic deposit, as well as a paper check.