Citi Diamond Secured – How to apply

By Raquel Oliveira • 03/17/2025

Citi Diamond credit card is a credit card designed to build or rebuild their financial history.

The Citi Diamond Secured credit card is ideal for individuals aiming to build or improve their credit. As a secured card, it requires an initial deposit, which acts as collateral and sets the credit limit.

A major benefit is its 0% APR introductory period, lasting 12 months on purchases and 21 months on balance transfers, allowing users to manage expenses without immediate interest.

Unlike many secured cards, it has no annual fee, making it a budget-friendly choice for those establishing credit.

With responsible use, cardholders can gradually boost their credit score, increasing their chances of qualifying for unsecured cards.

How Does the Citi Diamond Secured Work?

The Citi Diamond It works like a traditional credit card, but with one essential difference: it requires a security deposit as a guarantee. The deposit amount determines the user’s credit limit, generally ranging from US$200 to US$2,500. 

This deposit protects the card issuer against default and is refundable when the customer closes the account or transitions to an unsecured card. Once the card is approved, it can be used at any establishment that accepts Mastercard cards. 

On-time payments and responsible usage are reported to credit bureaus, helping the customer build a positive track record. Another important point is that, after a period of good financial behavior, users can be considered for conversion to a no-deposit card.

In addition to its credit-building benefits, the card offers a 0% APR introductory period, which lasts 12 months for purchases and 21 months for balance transfers. This feature can help users avoid interest on existing debt.

Main Benefits of the Citi Diamond Secured Card

• Security features: Fraud protection and digital banking tools for easy account management.
• Credit-building opportunity: A secured structure allows users to establish or improve their credit history.
• 0% APR on purchases: Enjoy 12 months of interest-free purchases, making it easier to manage expenses.
• 0% APR on balance transfers: 21 months of interest-free transfers for eligible balances transferred within the first four months.
• No annual fee: Reduces costs, making it an affordable option for credit-building.
• Flexible payment options: Choose a due date that works best for your budget.

How to Apply for the Citi Diamond Secured Card

The application process for the Citi Diamond Secured card is simple and can be completed online in just a few minutes. Citi evaluates applicants based on their ability to provide a security deposit and manage credit responsibly.

• Visit the Citi website and locate the Citi Diamond Secured application page.
• Fill out the online form with personal information, including name, address, and social security number.
• Provide financial details, such as income and monthly expenses, to determine eligibility.
• Choose a security deposit amount, which will determine the credit limit.
• Review the terms and conditions before submitting the application.

Existing Citi customers may experience a faster application process by logging into their accounts before applying. Once approved, the card is typically issued within 7 to 10 business days.

Cons of the Citi Diamond Secured Card

• Transaction fees: Balance transfers and cash withdrawals incur additional charges, increasing overall costs.
• Security deposit required: A deposit is necessary to open the account, which may be a barrier for some users.
• Credit limit restrictions: The credit limit is equal to the deposit, meaning users with small deposits have limited spending power.
• High APR after intro period: Once the introductory period ends, the interest rate ranges from 17.49% to 28.24%, which can be expensive for those who carry a balance.

Citi Diamond Secured: Fees & APR Details

The Citi Diamond Secured card offers an attractive introductory APR but includes various fees that users should be aware of.

• Introductory APR: 0% for 12 months on purchases and 0% for 21 months on balance transfers (if completed within the first four months).
• Regular APR: After the introductory period, the APR ranges from 17.49% to 28.24%, depending on creditworthiness.
• Cash advance APR: A high rate of 29.74%, making cash withdrawals an expensive option.
• Penalty APR: Missed or returned payments may result in a 29.99% penalty APR, which can significantly increase borrowing costs.
• Balance transfer fees: 5% or $5 (whichever is greater), which applies to all transferred balances.
• Cash withdrawal fees: 5% or $10, making it costly to use the card for cash advances.

These fees highlight the importance of paying balances in full each month to avoid high-interest charges.

How to Use the Citi Diamond Secured Card Efficiently

Maximizing the benefits of this card requires a responsible approach to spending and repayment. Here are some strategies to ensure success:

• Make payments on time: Payment history is the biggest factor in credit scores, so always pay at least the minimum amount due.
• Keep credit utilization low: Using less than 30% of the available credit limit helps build a strong credit profile.
• Take advantage of the 0% APR period: Use the 12-month interest-free window for purchases to avoid unnecessary interest charges.
• Avoid cash advances: The high APR and transaction fees make this a costly option, so it’s best to use other forms of cash access.
• Monitor your credit score: Citi reports to major credit bureaus, so tracking progress through credit monitoring tools can help users stay on track.

By following these practices, cardholders can build their credit while keeping costs low.

Is the Citi Diamond Secured Card Worth It?

The Citi Diamond Secured card is an excellent choice for those looking to build or repair their credit. Its secured deposit structure provides a reliable way to develop responsible financial habits while gradually improving credit scores.

The 0% APR introductory period is a valuable feature, allowing cardholders to make purchases and balance transfers without accumulating immediate interest. Additionally, no annual fee makes this card an affordable option for long-term credit-building.

However, users should be aware of the security deposit requirement, which may limit spending power. The high APR after the intro period also means that carrying a balance can become costly if payments are not managed effectively.

For individuals who need a structured approach to improving their credit, the Citi Diamond Secured card offers a practical and accessible solution.