Citi® Secured Mastercard®
While offering no rewards and limited benefits, the Citi Secured Mastercard presents a good way to build credit whether you’re new or working your way back from having bad credit. It requires a security deposit to fund your credit limit, but Citi may eventually return your deposit if you show responsible credit habits.
pros and cons
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.
Use your card anywhere Mastercard® is accepted — worldwide.
Get help staying on track with Auto Pay and account alerts.
With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.
Manage your account 24/7 online, by phone, or in our mobile app.
The standard variable APR for Citi Flex Plan is 22.49%. Citi Flex Plan offers are made available at Citi’s discretion.
A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200).
Cost
Annual Fee
$0
Purchase APR
3%
Foreign Transaction Fee
Cash Back
None
Credit Score
None
Food (Restaurants and Groceries)
The Bank of America® Cash Rewards Credit Card (Review) is one of the most flexible cash back cards around, with a 3% bonus category you can change every month. Dining is one of your choices, along with quite a few other useful options, and you’ll always get grocery stores for one of your smaller categories.
Travel Rewards with No Annual Fee
The Capital One® VentureOne® Rewards Credit Card (Review) is the top no fee travel card because it offers a decent reward rate for every purchase you make, with the ability to transfer your miles to a variety of airline partners. It can help you travel for free without putting an extra strain on your wallet, as long as you avoid interest and other fees.
Signup Bonus Credit Card
The signup bonus — one of the most valuable and coveted credit card features, with the potential to put a huge dent in your spending or help you score free flights and hotel stays. Many rewards cards come with signup bonuses, also known as introductory bonuses or welcome bonuses. These bonus offers can provide a surprising amount of value, with returns on spending ranging from around 20% on average to more than 50% in some cases.
Rotating Bonus Categories
A typical rotating bonus category earns 5%, while other cards are limited to earning 2% or 3% cash back, says Daniel Gillaspia, travel and rewards expert and founder of the travel rewards blog UponArriving. Category choices are gas, online shopping, dining, travel, drugstores, or home improvement/furnishings.
No Annual Fee Credit Cards For Flat-Rate Rewards
Paying an annual fee on a credit card can be worth it if it gets you substantially higher rewards. But in many cases, credit cards that don’t charge annual fees offer better long-term value than those that do. No-annual-fee credit cards make it easy to come out ahead, regardless of your spending. Plus, you’ll be able to keep your card open for a long time at no cost, increasing the average age of your accounts, which has a positive effect on your credit score.
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