Rebuilding credit with CitiBank’s Secured MasterCard
For those in the credit building phase and whom perhaps also would like open a high yield savings account, CitiBanks’s new secured MasterCard + 18 month CD (certificate of deposit) offer may be just the right tool. This offer gives you the opportunity to knock down both of these birds with one stone.
Here is what you get… You open a CD account with an amount of between $200 to $25,000 and you will then be issued a secured credit card through CitiBank with that amount as your spending limit. They report your account performance to major credit bureaus, and after 18 months, you could become eligible for an unsecured Citi Platinum Select credit card. Meanwhile, you’ll earn a competitive annual interest rate on your CD. Here is what we particularly like about this account, the 18 month CD you purchase comes with an unheard of interest rate of 4.17% APY. To put this offer in perspective the current national average for 24 month CD’s sits at roughly half this rate.
Build Your Credit History
With no minimum income or co-signer required, it’s simple to qualify for this credit card, so you can start building a record of account performance for future borrowing purposes.
Important Credit Card statistics:
- $29 annual fee
- 13.24% APR variable credit limit
September 20th, 2009 at 11:02 pm
Rebuilding credit with CitiBank’s Secured MasterCard…
Here is what you get… You open a CD account with an amount of between $200 to $25,000 and you will then be issued a secured credit card through CitiBank with that amount as your spending limit. They report your account performance to major credit bur…
March 20th, 2010 at 8:49 pm
Do not let Citibank make a fool of you like they did with me. They took my money and limited my credit limit to $2000 dollars for the first 60 days even though they had assured me I will have access to the full amount I deposited ($7500). I told them that this is not mentioned in the application or the website or even the tiny print of the terms and conditions, they told me to go screw myself and that they won’t fix this. They are the worst financial institution and have the least competent employees. Everyone I know have had problems with Citibank.