Citibank Secured Credit Card

Researching Citibank secured credit card?
Duane here with how to build credit TV and in this video I’m gonna talk to you
guys about the Citibank secured credit card. But before we get started I have a
quick message. Once again my name is Duane with how to build credit TV. This
channel offers 100% free information about how to build credit, how to get
cash back actual cash money from using credit cards, as well as credit card
reviews. We also talk about everything you need to know about credit. Whether
you’re looking to expand accredit build credit, rebuild credit or learn more
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one. So if this is your first time here consider subscribing. Alright now that
that’s out the way let’s talk about the Citibank secured credit card. So there
are a lot of secured credit cards out there that you can apply for but me
personally I actually have the Citibank secured credit card and the reason why I
got that card was because I was trying to re-establish a relationship
with Citibank. I actually had a Citibank Card ah a long time ago when I was in
college and believe it or not I had a 12,000 dollar limit on that credit card
when I was in college. Now I had no job I don’t know why I would need a $12,000
credit limit but Citibank gave me that credit limit because of course I’m sure
they wanted to make money for me by paying interest or me using a lot of my
credit limit. And you know continually having to pay my
credit card for a long time. So long story short I don’t have a Citibank
credit card and so that is the reason why I decided to re-establish a
relationship with Citibank by getting the Citibank a secured credit
card. So what I’m gonna do is I’m gonna jump on my laptop and have a look at the
Citibank secured credit card on their website so you guys can know what to
expect when you’re interested in getting the Citibank security credit card so
give me one second and I’ll jump on over to my laptop. Okay so as you can see here
I’m on I’m on Google and I just typed in Citibank secured credit card and it
pulls up their site here. I’ll provide this link at the bottom of this video in
the description so you can just click on the link if you want to apply for this
card so I’ll click on that and it’ll bring you to the Citibank website I’ll
click on learn more and apply even though I already have this card okay so
it says here at the top help build improve or rebuild your credit with a
city secured credit card start building credit for tomorrow with a secured
credit card a lot of people think that secured credit cards is only for
building credit or establishment credit or I’m sorry building credit or
exception credit but a secured credit card actually can build and help your
credit score that’s why I use it for credit cards because I can control the
credit limit. I can control the fact that I’m gonna be approved for it so it’s not
going to hurt my feelings so and I don’t get approved for the card. So as you can
see here this Citibank secured credit card does not have an annual fee that’s
pretty cool because that means that all you have to worry about is the deposit.
So the deposit amount is between $200 and $2,500 and you submit that with your
application. The money basically comes out of a checking account so you would
have to put your routing number your checking account number you know the
usual stuff. Your security deposit will be held in a collateral holding account
for up to 18 months and it will not earn any interest. The reason why I’m
saying up to 18 months is because if you are promoted to or graduate to the
unsecured credit card you’ll get your deposit back before 18 months.
Let’s just plan on 18 months okay if I were you what I would do is I would
deposit the minimum the $200 just to open the account if you don’t have a lot of
money laying around and then after the first or second billing statement you
can put in more money into the account which will increase your credit limit
and you can do that in increments of $100. So I would suggest doing that and
you can just look at this like a savings account but it will be building your
credit limit as well as your credit score and you’ll be you’ll be starting
to have good credit history because you’ll be paying your bills on time and
make sure that you don’t go over your balance and so on and so forth. Just use
the card responsibly okay so it says to receive a city secure of MasterCard you
must meet our credit qualification criteria for this card which includes
our review of your income and your debt. If you are approved your credit limit
will be equal to the amount of your security deposit. You must not have any
bankruptcy history within the last two years. So if you file bankruptcy or what
not within the last two years do not apply for this card. There are
secured credit cards that allow you to have a secured credit card if you file
bankruptcy but this is not one of them. It talks about the purchase APR being
23.99% variable at the moment and then it talks again about the security deposit a
minimum of two hundred dollars. They talk about your Citi identity
theft solutions. It talks about purchase protection convenience being able to use
the card where a wide, ATM blah-blah-blah-blah. One of the
things that it doesn’t talk about here which i think is interesting is with the
city secured credit card you actually get a free a free credit score and you
can access the credit score it’s a FICO score so it’s actually a little more
accurate than the credit score you would get with credit wise or even sometimes
with Credit Karma. So this is an actual FICO score. The FICO credit score is what they
use to determine your eligibility for you know what type of percentage you’re
gonna get on your car loan or your home or just about any kind of major loan
that you would get they actually check your FICO score so that’s pretty cool
that you’re gonna be getting a free a free reading of your current FICO score
every single month it updates every month. And you can use the app you can go
online to see your FICO score. So that’s pretty much it for the citi security
credit card I’ll see you guys here back in just one sec. Thanks for watching this
video if you want to learn more about secured credit cards please feel free to
have a look at our channel. As a matter of fact we talked about everything that
you need to know pertaining to credit whether you’re looking to establish
credit, build credit, rebuild credit or learn more about the FICO score and how
it is comprised so that you can increase your credit score. Be sure to subscribe
to our channel because in doing so you’ll help us get to 1,000 subscribers
faster and we’ll be able to monetize this channel which will make it a lot
easier to continue to upload videos just like this one. So if you’re new here
consider subscribing. Once again thank you so much for watching the video until
next time take care and be blessed. Peace

44 comments on “Citibank Secured Credit Card”

  1. bubbie l says:

    Interesting and Helpful, Thank you.

  2. Murphy Brian says:

    Why did you let capital one keep your security deposit from your secured card with them after they upgraded to to the savor card

  3. Luke Webb says:

    What's the minimum fico score, do they require?

  4. Sophia Moore says:

    Love your videos!! Thanks for giving us all this helpful information. I am a brand new "Discover It" card customer now, from watching you.. My credit score jumped 29 points just for applying!!!! Happy dance 😄💃

  5. Texastacticool says:

    I don’t think you can increase your limit after you open it with the initial deposit.

  6. Marcus Davis says:

    Do you know what card they upgrade you after the 18 months

  7. Sal OC says:

    I want this card because it gives your Equifax FICO score for free.

  8. Thaddeus Supreme says:

    Lee up the great work brotha!✊🏿

  9. Mack Hillard says:

    Question: I am planning on taking my Discover security deposit after my card graduates of course and using those funds to open up the Citi Bank Secured Credit Card…do you think by building a relationship with them, I would eventually be able to get approved for the Citi Double Cash card? This is why I want to get another secured card because I want to be able to qualify for the Double Cash card. I've heard rave reviews about it but my credit isn't good enough for the Double Cash card at this time.

  10. Linda Lloyd says:

    I can't wait to get mine, I just applied today and was approved.

  11. Lore’l Reyes says:

    I was approved for the discover it but when I applied for this card I got the “we are reviewing your application…” message. I’m not feeling good about it.

  12. Canned Reborn says:

    I am wondering if it there be a hard pull on my credit if I apply for this secured card? Thanks for any info on this.

  13. Linda Lloyd says:

    Mine should be here in a couple days or so, it's funny Citi just added it to my credit report today and I haven't received my card yet, that's ok because that means i'm getting started, my score did go down 5 points but i'm not worried because it's going to go back up again when it reports a 0 balance next month.

  14. Linda Lloyd says:

    I got my paper work from them today but no card yet, I have to say I'm liking that price rewind that they have.

  15. JEEP YJ 4WD says:

    Do you have to pay in full every time do you use your secured card or you can pay monthly ??? for example i have $1000 dollar card and i use $500 do i need to pay that in full ?????? thanks

  16. Conscious Muzik says:

    So i applied for this card and gave my routing and checking info for a $200 deposit but on credit karma there was soooooo many bad reviews …. almost thought of canceling….. but now i see this video and it seems like it’s good

  17. MultiLivingtestimony says:

    I was approved, but they want a $200 deposit and my bank info to withdraw the funds. Is this normal? When will I see my credit changing? How should I work this card best? I’m trying to build credit..💆🏽‍♀️

  18. Jane Doe says:

    You’re videos are so helpful. I just love them

  19. Mr. StarOfTruth says:

    they let you have 2 of those cards i have 2 of them so you can double build your credit…

  20. Ambrosio Hernandez says:

    Definitely subscribed, you’re videos are informative, straight up, and FREE!

  21. Michael Mathen K says:

    I didn't get approved for it . credit karma showed I had good chance to get approved but I didn't 😔

  22. Sir Austin says:

    Just got approved! Credit Karma recommended it. My credit score is awful and I always get turned down – even for secured cards – I was surprised when I got approved but happy! This time I’m gonna take this stuff serious!

  23. Tyrone Williams says:

    My acct got upgraded to diamond preferred. Can I convert it to a double cash card?

  24. Tyrone Williams says:

    U was right. Today made my year with citi I call them to convert my acct to the double cash card and they did without changing my acct. number I will have my new card in 7 -10 business days

  25. THarlin06 says:

    What's the background music at 1:17 ?

  26. Andre Ransom says:

    I got this card to establish a relationship with Citibank and hopefully upgrade to citi American Airlines card

  27. Elizabeth Ayala says:

    I applied today and got approved …can’t wait to get it.

  28. lucky05 says:

    this card is worth it in every way. primarily because it upgrades to the unsecured version and get security deposit back and no annual fee. Sweet.

  29. lucky05 says:

    just wanted to add to help everyone here, if you have a young bankruptcy on credit report, they won't approve until two years have passed since the discharge. besides that, the card is worth it for rebuilding credit. Easy to use and easy to pay.

  30. ronald gentry says:

    Hey good afternoon so i recently reached my 18 month mature date with Citi in mid-April, to my disappointment i was sent a letter saying that my mature date has been pushed backed an additional 12 month and i was not eligible to convert to a different card. After calling CS and pushing button after button I finally reached a agent, they told my account didn't have enough activate to qualify to upgrade to a unsecured. Even tho i use my card every month, have no late payment and pay it on time. So now i have to wait another 12 month for them to review it again

  31. JAMACASH says:

    IDK im just A YOUNG ADULT who needed a card and so my mom suggested this one and I don't wanna ask her for too much help since she didn't really get it in the first place so I'm watching this hoping you have the answers omg

  32. dead mouse says:

    Do you have to have a regular checking account in order to get the secure Citi bank card

  33. Rick Phillips says:

    I have learned so much from your videos. You have real life experiences for us to learn from.
    Thanks so much for the sharing
    your life with the credit card info.

  34. Chris Pielacha says:

    Great channel 👍 thank you for all your help. I have a question. I'm going to apply for a secured. I like capital one and it so far. Regardless, what's a better approach? Say my limit is 100. Should I buy something for $100 and pay it off or , buy small like$50 and pay that off first then spend another$50? I know you're busy but any advice would be appreciated. Im trying to make better decisions now that I'm older and have a wife and daughter.

  35. Giselle says:

    Just got mines today

  36. Andy Gibson says:

    I had a unique rebuild need, so I actually opened 6 secured accounts. It’s my favorite and I believe it’s the best secured card out there behind Discover.

  37. lori radtke says:

    You're sooo Awesome….. BlessUP

  38. Salamander says:

    That's it? what about 22% apr?

  39. Alan Valdez says:

    On your personal opinion, which one is best Wells Fargo secured credit card or Citi secured credit card?

  40. Anthony Ramey says:

    When will I get the card after I’m approved?

  41. BOONIQUE says:

    When I call them I can hardly understand what they are saying because they barely speak English. Citi must use an off shores call center.

  42. Myka Monaè says:

    Applied and got approved today! Can’t wait to get the card!

  43. Jay San says:

    I have the discover it secured with $300 limit. Would it help to also get this one? And have 2 secured cards? Thanks.

  44. KING OBANDZ says:

    How long it take so your card to come in the mail

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