Never Underestimate The Influence Of Citi Secured

by Pustaka Ilmu September 26, 2021 Post a Comment

What exactly is the CITI Secured MasterCard? And why should it even be part of your current credit strategy? Credit cards come in all shapes and sizes. Some are more useful than others. Which one is right for you? To help you decide we have discussed the pros and cons of this type of card.

The CITI Secured MasterCard is simply credit cards that is secured by the money deposited in an account. So it is not a true credit card. It is a credit card that requires collateral in order to become valid. In other words, you can only use your CITI Secured MasterCard on those items or services that you are willing to pay for with the money you have secured. But what exactly is the benefit of the CITI Secured MasterCard?

First, the CITI Secured MasterCard offers you the opportunity to build credit that you can use to re-establish your reputation with merchants and other institutions. When you make purchases with your CITI Secured MasterCard, you are actually building credit. Each time you make a purchase, the payment goes directly to your secured card. This builds credit where payments are made on time and when you need to make a purchase you will still be approved.

Second, the CITI Secured Card allows you to be approved based on your deposit balance as well as your income level. If you do not have the funds available upfront for a deposit, then you can go back to your standard credit card. On the other hand, if you do have the funds available you can choose to apply for an over the limit credit card or a prepaid debit card. These two options are just the same process as your normal CITI credit card but instead of making payments you deposit money into a special savings account.

Third, you have the flexibility of paying off your balance as soon as you get a sufficient amount of deposit. You can also pay your balance in full each month. In this manner, you will not have to pay interest charges since your interest payments will stop once your balance is gone through. This will save you a lot of money over the years since interest rates for CITI secured cards start at fifteen percent. It does take twenty days to become current, but that is not too long if you know what you are doing.

Fourth, CITI has a graduated payment program that you may want to look into. Graduated payments allow you more flexibility. You can increase or decrease the amount of money that goes into your savings account. This gives you the ability to plan your expenditures and know that you will have enough money set aside each month to handle any financial emergencies. CITI secured cards offer you options, so make sure to explore all of them.

Fifth, you have the convenience of going online with CITI anytime. You can manage your accounts online anytime, day or night. This will give you the ability to access your account whenever it is convenient for you or when a payment is due. Also, you don't have to contact your lender to order checks and mail them because everything is now handled electronically.

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CITI secured card offers you more than five hundred different programs. Some of them have tiered deposit plans. This means that your first deposit will earn you up to three hundred points that you can use to get cash back or apply for a credit line. You have the option of increasing your limit as you deposit more money. On top of that, if you have a balance transfer fee waived, it will automatically be included in your monthly payment.