Consumer Payment Card News

Citi Secured Card

The nation’s largest credit card issuer is now targeting Asian and Hispanic immigrants who have little or no credit history with a new credit card. The secured “Citi MasterCard” is linked to an 18-month CD and requires annual income of at least $8,000. The interest-bearing CD deposit has a $200 minimum and a maximum of $5,000. Citibank says accounts kept in good standing for a full 18 months may be eligible for an unsecured credit card or other financial products. Resident and non-resident applicants must be at least 18 years of age and have a valid SSN or TIN. Non-residents can apply by completing a W-8BEN Form and by providing a copy of a government issued ID, such as an “I/94” Immigration form, passport or national identification card as well as proof of an existing banking relationship. The secured card has an APR of prime + 9.99%, and a $29.00 annual fee. For more information visit: “”:

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