Citi Diamond Secured – How to apply

By Raquel Oliveira • 04/04/2025

Citi Diamond Secured is designed for people need a reliable way to build or rebuild their credit.

The Citi Custom Cash Card is a flexible rewards credit card that automatically adjusts to your spending habits, offering 5% cash back on your highest eligible category each billing cycle. This feature allows users to maximize their rewards effortlessly.

New applicants can also benefit from an attractive welcome bonus after meeting the initial spending threshold. With no annual fee, the card stands out as a cost-effective option for those looking to earn significant rewards without adding extra expenses.

Cashback can be redeemed through multiple convenient options, including statement credits, direct deposits, gift cards, or merchandise. This variety enhances the card’s overall appeal and usability.

Keep in mind that the 5% cash back applies to the first $500 spent in your top category each billing cycle. Purchases beyond this limit will earn 1% cash back, so strategic spending can help you maximize the value of the rewards program.

How does Citi Diamond Secured work?

The Citi Diamond Secured Mastercard functions as a secured credit card, requiring users to provide a refundable security deposit that determines their initial credit limit. This ensures responsible spending and reduces financial risk for the bank.

This card is designed for individuals looking to build or rebuild their credit history. Citi reports payment activity to Experian, Equifax, and TransUnion, helping users improve their creditworthiness over time through responsible financial management.

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

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

Main Benefits of the Citi Diamond Secured Mastercard

• Access to Citi’s fraud protection tools, including real-time alerts, purchase monitoring, and automatic payments, enhancing security and account management.
• No annual fee, allowing users to focus on credit building without additional financial burdens while improving their credit score.
• Reports to all three major credit bureaus, ensuring responsible usage positively impacts credit history and increases eligibility for unsecured credit cards in the future.
• Flexible refundable security deposit, ranging from two hundred to two thousand five hundred dollars, giving users control over their credit limit based on financial capacity.

How to Apply for the Citi Diamond Secured Mastercard

Applying for the Citi Diamond Secured Mastercard is a simple 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 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.

APR and Fees of the Citi Diamond Secured Mastercard

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

• No annual fee, ensuring users can build credit without additional yearly charges or 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, increasing costs for cardholders who frequently travel or shop in foreign currencies.

Cons of the Citi Diamond Secured Mastercard

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.

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, making it less attractive for users who want incentives for spending, unlike unsecured credit cards with rewards programs.

Who Should Apply for the Citi Diamond Secured Mastercard?

This card is ideal for individuals who want to establish or rebuild their credit history while maintaining financial control with a structured credit-building tool.

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

Additionally, it 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 spending incentives.

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.

Its strong credit-building foundation and lack of extra fees make it a valuable tool for responsible credit management.