The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly. Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online.
Unlike a prepaid card, a secured card is an actual credit card that reports to the three major credit bureaus—providing the opportunity to build your credit, with responsible use. Prepaid cards are more like debit cards and cannot help you build your credit because they do not report to the major credit bureaus.
Secured credit cards can be a good option for building or rebuilding your credit. ... A secured credit card can help you establish or re-establish your credit. Since payments are included in your credit report, paying on time and managing your balance will help improve your credit score.
Yes, the Citi Secured will do a hard pull. You can apply for it with bad credit though.
You can request a Citibank credit card limit increase online, through the Citi Mobile App, or by phone, at (800) 950-5114. ... Citi will almost always use a harmless soft pull initially, but will do a hard pull if you ask them for a higher increase than they first offer you.
You can build credit with a secured credit card in as little as 1 month, but it will take many months or even years to build a consistently good or excellent credit score. The length of time also depends on whether you're building credit from nothing or rebuilding damaged credit.
How to Improve Your Credit Score
The Citi® Secured Mastercard® is an incredibly basic secured credit card that can work well for those looking to build credit history without paying an annual fee.
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