It is not a secret the actual purpose of secured credit card is for the users to improve their credit. This will include by any means either to establish a good history of credit as the start or to re-build the bad history of credit. By reading Citi secured credit card reviews, then you may apply for one if you are indeed in those situations.
First, you need to know what a secured credit card. Different from the regular credit card service, this particular service of credit card will require you to pay down a security deposit once you agree on the terms offered by the issuer. In reference to Citi secured credit card reviews, this deposit then will be the anchor to your limit of credit.
Brief Review of Citi Secured Credit Card
The thing is aside from the security deposit that needs to be fulfilled at once on the agreement process. According to many Citi secured credit card reviews, this service also doesn’t entail you to pay the annual fee; well, aside from the monthly payment of course. The downside, however, once you experience a bankruptcy within a couple of years from now, you are not eligible enough for using this service.
Supposedly just like its name, secured, this credit card doesn’t particularly fond of either beneficial or not. It is because another thing about Citi secured credit card reviews is that there will be no rewards for each transaction using this card. This is in line with the original goal of the service, which is more towards helping anyone to build a credit instead of providing points and cash back. That being said, with only good habits in finance as well as repeatedly on-time monthly payments, it will lead you to acquire a better service of credit card.
As recorded in Citi secured credit card reviews, this particular service of credit card offered by Citibank is relatively satisfying. The reviewers rate this service as 3 out of 5 points. One of the reasons behind this rating is partly because this service is incredibly basic as it offers no specific rewards or benefits. In addition to this, anyone using this card doesn’t have the opportunity to increase their limit of credit once the initial security deposit is paid.
Since the record of your transaction will be reported to several major credit company—referring to the Citi secured credit card reviews, it is better if you keep your transaction record in check. A reckless use is not very recommended as the company watches your history of transaction. The worst case is that because it will be accountable for your credit score. Another tip for you to enhance the score is by utilizing an automatic payment. This way, you can make the monthly payment on time.
Those are the overall Citi secured credit card reviews. Any further information can be accessed through its official website. As alternative, this company will be available to reach in person at any Citibank branches near your location.