"Secured MasterCard"
Citi® Platinum Select® MasterCard Review
Written by: patrick12 on 2010-01-15
Overall Satisfaction
Customer Service
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Account Management
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patrick12's review: 
I really want a Citi product to add to my credit mix so I applied for the Citi Secured MasterCard, Equifax score at the time is 656, closed some accounts, Hooters, Orchard, Ect... I applied 2 days ago, deposited $500.00 and I noticed today the funds in my checking have been taken out, so as soon as I get an email confirmation from Citi on my approval status I will post to this review! Looks like after 18 months this card may go unsecure and I would then qualify for a Platinum Select MasterCard!
I really want a Citi product to add to my credit mix so I applied for the Citi Secured MasterCard, Equifax score at the time is 656, closed some accounts, Hooters, Orchard, Ect... I applied 2 days ago, deposited $500.00 and I noticed today the funds in my checking have been taken out, so as soon as I get an email confirmation from Citi on my approval status I will post to this review! Looks like after 18 months this card may go unsecure and I would then qualify for a Platinum Select MasterCard!
6 Comments
Comment 1 by wanderer
Re: Secured MasterCard 
on 2010-01-15
CONGRATS! Awesome to see us be able to rebuild our credit. Frankly, I have found after the 09/2001 BK that eight years later the credit market still treats me like I have a big scarlet letter "A" on my back. It is humbling when before the BK I had it all. Again, great work and keep the faith brother.
on 2010-01-15 CONGRATS! Awesome to see us be able to rebuild our credit. Frankly, I have found after the 09/2001 BK that eight years later the credit market still treats me like I have a big scarlet letter "A" on my back. It is humbling when before the BK I had it all. Again, great work and keep the faith brother.
Comment 2 by joeyman
Re: Secured MasterCard on 2010-01-16
Congrats! Good luck rebuilding your credit. :D
on 2010-01-16 Congrats! Good luck rebuilding your credit. :D
Comment 3 by hjm331
Re: Secured MasterCard on 2010-01-16
Don't mean to burst your bubble but I have read that some applicants have been denied EVEN after the funds have been withdrawn from their account. If you were to get denied, then they would mail you a check for the amount you deposited.
As long as you don't have any baddies, you should be fine.
I applied for the Citi Secured MC in September '08 to get my foot into the door with Citi I sent them a check for $200 because that was all I could spare at the time. My account is going to graduate in two months and I can't wait. I applied for the secured card after being denied twice for an unsecured card and didn't want to lower my AAoA (Average Age of Accounts) by applying for it in the future.
Good luck with the application and let us how it goes. I will update on how Citi treats me when my account graduates soon.
on 2010-01-16 Don't mean to burst your bubble but I have read that some applicants have been denied EVEN after the funds have been withdrawn from their account. If you were to get denied, then they would mail you a check for the amount you deposited.As long as you don't have any baddies, you should be fine.
I applied for the Citi Secured MC in September '08 to get my foot into the door with Citi I sent them a check for $200 because that was all I could spare at the time. My account is going to graduate in two months and I can't wait. I applied for the secured card after being denied twice for an unsecured card and didn't want to lower my AAoA (Average Age of Accounts) by applying for it in the future.
Good luck with the application and let us how it goes. I will update on how Citi treats me when my account graduates soon.
Comment 4 by meya
Re: Secured MasterCard on 2010-01-18
Good news! Way to go, I will keep my fingers crossed for you.
on 2010-01-18 Good news! Way to go, I will keep my fingers crossed for you.
Comment 5 by patrick12
Re: Secured MasterCard on 2010-01-27
I called Citi today, its a no go, they are mailing back my check and a letter of explaination, I am actually relieved, I need a tree cut down in my front yard that costs as much as my Citi deposit was, todays a good day! LOL, Better luck next time!
on 2010-01-27 I called Citi today, its a no go, they are mailing back my check and a letter of explaination, I am actually relieved, I need a tree cut down in my front yard that costs as much as my Citi deposit was, todays a good day! LOL, Better luck next time!
Comment 6 by celtichrs
Re: Secured MasterCard on 2010-12-21
Buyer beware: I pulled up the terms and conditions of the offer. The application states in paragraph three that You must not have any bankruptcy history, write off history or account in collections within the last two years. Logistically anyone who is applying for a secured card will have one or all in their credit history.
In addition printed articles floating around state a 4.07% on the 18 month CD for this secured credit card while the written print in the terms and conditions state just 1%.
Just a little buyer beware.
on 2010-12-21 Buyer beware: I pulled up the terms and conditions of the offer. The application states in paragraph three that You must not have any bankruptcy history, write off history or account in collections within the last two years. Logistically anyone who is applying for a secured card will have one or all in their credit history. In addition printed articles floating around state a 4.07% on the 18 month CD for this secured credit card while the written print in the terms and conditions state just 1%.
Just a little buyer beware.
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Disclaimer: This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citibank. Review content is powered by Finance Globe.
