Citi Diamond Secured – How to Apply

By Raquel Oliveira • 03/12/2025

Citi Diamond Secured offers no anual fee and access to Citi’s fraud protection tools.

The Citi Diamond Secured Mastercard is a great choice for individuals looking to establish or rebuild their credit. As a secured credit card, it requires a refundable security deposit, making it an accessible option for those working to improve their financial standing.

Unlike traditional unsecured credit cards, this card determines your credit limit based on the deposit provided, which can range from $200 to $2,500. This structure allows users to manage their spending while gradually building responsible credit habits.

A major advantage of this card is that Citi reports all payment activity to the three major credit bureaus, meaning consistent on-time payments can significantly enhance your credit history and increase eligibility for better financial products in the future.

This guide will cover how the card works, its key benefits, potential drawbacks, fees, and the application process. These insights will help determine whether this secured credit card fits your financial habits and long-term credit goals.

How Does the Citi Diamond Secured Mastercard Work?

The Citi Diamond Secured Mastercard functions as a secured credit card, meaning users must provide a refundable security deposit that determines their initial credit limit. The deposit ensures responsible spending while protecting the bank from financial risk.

This card is specifically designed to help users build or rebuild their credit history, making it ideal for individuals with no credit or poor credit scores. Citi reports payment history to Experian, Equifax, and TransUnion, allowing users to improve their creditworthiness.

Unlike traditional credit cards, this card does not offer cashback rewards or bonus points. Instead, its primary benefit is simplicity, focusing on financial discipline and credit improvement rather than earning incentives for spending.

Additionally, Citi provides fraud protection measures such as real-time alerts, secure online banking, and automatic payment options to help cardholders manage their accounts efficiently while preventing unauthorized transactions or fraudulent activities.

Main Benefits of the Citi Diamond Secured Mastercard

• No annual fee, ensuring that users can focus on credit building without incurring unnecessary financial burdens while improving their credit score.
• Reports to all three major credit bureaus, allowing on-time payments to positively impact credit history, making it easier to qualify for unsecured credit cards later.
• Flexible refundable security deposit, ranging from two hundred to two thousand five hundred dollars, allowing users to choose their own credit limit based on financial capacity.
• Access to Citi’s fraud protection tools, including real-time alerts, purchase monitoring, and automatic payments, helping cardholders manage their accounts securely.

Cons of the Citi Diamond Secured Mastercard

Additional fees for foreign transactions, balance transfers, and cash advances, which can increase costs for users who travel frequently or need extra financial flexibility.

Requires an upfront refundable deposit, which may be a barrier for individuals with limited savings, as the deposit determines the credit limit.

Does not offer rewards, cashback, or bonus points, meaning users will not earn incentives for purchases, unlike unsecured credit cards with reward programs.

High APR compared to unsecured credit cards, making it less suitable for carrying a balance, as interest charges can accumulate quickly if payments are not made in full.

APR and Fees of the Citi Diamond Secured Mastercard

Understanding the fees and interest rates associated with the Citi Diamond Secured Mastercard is essential for managing finances effectively and maximizing the benefits of this credit-building tool.

• No annual fee, ensuring that users can build credit without additional yearly charges or unnecessary financial commitments.
• High APR compared to other secured credit cards, meaning interest charges can be significant if balances are not paid in full each month.
• Balance transfer fees apply, with a minimum charge of five percent or five dollars, whichever is greater, making it costly for users who transfer balances.
• Three percent foreign transaction fee, making international purchases more expensive for cardholders who frequently travel or shop in foreign currencies.

How to Apply for the Citi Diamond Secured Mastercard

Applying for the Citi Diamond Secured Mastercard is a straightforward process that can be completed online through Citi’s official website, offering a quick approval process for eligible applicants.

• Visit the Citi website and navigate to the credit card application section to find the Citi Diamond Secured Mastercard and begin the process.
• Fill out the application form with personal and financial details, including name, address, income, and the desired security deposit amount.
• Submit the application and security deposit payment, allowing Citi to review your creditworthiness and provide an approval decision within minutes or days.
• If approved, the physical credit card will be mailed within seven to ten business days, after which it can be activated and used for purchases and credit-building purposes.

Who Should Apply for the Citi Diamond Secured Mastercard?

The Citi Diamond Secured Mastercard is ideal for individuals who want to establish or rebuild their credit, providing a structured way to improve credit scores while maintaining financial control.

It is an excellent option for users who want a no-annual-fee card while still having access to fraud protection and digital banking tools for secure credit management.

Additionally, this card benefits those who need a stepping stone to an unsecured credit card, as responsible use can lead to credit score improvement, increasing eligibility for future credit options.

However, individuals looking for cashback rewards or travel perks may find other options more beneficial, as this card does not include a rewards program or incentives for spending.

Final Considerations

The Citi Diamond Secured Mastercard provides a structured and practical way to build or rebuild credit, ensuring users develop responsible financial habits while gaining access to mainstream credit opportunities over time.

While it does not offer cashback or travel perks, its zero annual fee, security features, and credit-building potential make it a great choice for individuals looking to establish financial stability.

Before applying, consider whether this card’s features align with your current financial situation, ensuring that it meets your needs for improving your credit score effectively.