|Highlights||Credit Card Feature|
|Things We Like||Signing bonus of 2,500 bonus ThankYou® Points|
|Our Least Favorite||3% foreign transaction fee|
|Our Verdict||Great card to earn 2 ThankYou® Points on dining and entertainment|
Citi ThankYou® Preferred Card for College Students, a partner card, is a credit card for students which lets you earn Citi ThankYou® Points on all your purchases. This card will especially benefit you if you are planning on making a large purchase and paying it off over several months, because it has a long introductory low APR period on purchases.
But this card offers many more benefits, and with so many student credit cards available, we've decided to look at Citi ThankYou® Preferred Card for College Students in-depth and put it up against other popular cards to see how it holds its own.
Things We Like About Citi ThankYou® Preferred Card for College Students
The 2,500 bonus ThankYou® Points welcome bonus you earn by making just $500 worth of purchases in the first 3 months after opening your account. You only have to spend $167 a month on any purchase, including bills paid, to get these bonus points.
No annual fee. This card doesn't have an annual fee, which is a great plus if you're a student with better things to spend your money on.
It has a 0% intro APR on purchases for 7 months. You get 7 months of interest-free purchases thanks to the 0% intro APR on purchases for 7 months. There is a 14.74% - 24.74% variable APR on purchases after that intro period.
You earn 2 ThankYou® Points on dining and entertainment. You get double points on all purchases from restaurants and takeaways, as well as tickets for movie theaters, amusement parks, sporting events, concerts, record stores, video rental stores and museums.
You earn 1 ThankYou® Point per $1 on all your other purchases. If you use this card to pay for regular expenses like lodging, grocery shopping and gas, you can collect points pretty fast.
ThankYou® Points can be redeemed for all kinds of things. The ThankYou program is one of the most complete rewards programs available right now. You can redeem rewards for gift cards, travel, merchandise (everything from tablets to a gas grill for your chill time), directly at the checkout when making purchases from Amazon.com, Expedia (hotels only) and Live Nation. You can also redeem points for temporary virtual credit card numbers that let you use their ThankYou Points for a statement credit when shopping online at any store that accepts MasterCard® or Visa®. That's really just the beginning, and there are many more in which you can redeem ThankYou Points. Points don't expire and are unlimited, so you can collect as many as you want, and use them when you choose to.
Citi Price Rewind. This is a fantastic price protection perk. You simply activate Citi Price Rewind for purchases you choose, and Citi will track prices for that item offered by online merchants for up to 60 days after you make the purchase. If Citi finds a lower price on that item, you can request a refund of up to $300 per item to cover the price difference. You can use this benefit up to get a maximum of $1,200 in refunds per calendar year.
You get travel insurance. When you use this card to pay for your travel bookings in full, you benefit from complimentary trip cancellation and interruption protection (a rare benefit which you usually only get with top credit cards) in case your trip is cancelled or delayed due to unforeseeable events, worldwide travel accident insurance (up to $250,000 in compensation if a tragic accident occurs when you travel on a common carrier), and worldwide car rental insurance.
Citi® Private Pass® is a scheme for Citi cardholders which lets you get presale tickets and VIP packages to concerts, sporting events, dining experiences, plus complimentary movie screenings and more.
This is a chip technology card. This Visa card comes with chip technology, which means that you can use it to make payments around the world, and it's safer that magnetic stripe cards since it's harder to counterfeit.
You are protected with $0 Liability on unauthorized charges means you won't be liable to pay for purchases it it's proven that your card was used fraudulently. Make sure to file a police report immediately after your card is stolen to ensure your claim is accepted.
Our Least Favorite Things About Citi ThankYou® Preferred Card for College Students
No low intro APR period for balance transfers. This card doesn't offer a low intro APR period for balance transfers. There is a 14.74% - 24.74% variable APR for balance transfers. The balance transfer fee is 4% or $5 per transfer, whichever is greater.
You pay a penalty APR. A penalty APR of 29.99% (variable) will kick in if you miss a payment. As a student you'll want to build a strong credit history, so always make your payments on time. Doing this will also help you avoid the null penalty fee.
You pay a foreign transaction fee is 3%. Since many students travel and shop online outside the US, a foreign transaction fee is not ideal.
How Other Cards Compare With Citi ThankYou® Preferred Card for College Students
|Intro APR:||0% intro APR for 7 months on Purchases*|
|Regular APR:||14.74% - 24.74%* (Variable)|
|Annual Fee:||No annual fee|
If you want to earn rewards points, the ThankYou program used by Citi ThankYou® Preferred Card for College Students is one of the better rewards programs available. This card also has a long introductory low APR period on purchases.
Citi ThankYou® Preferred Card for College Students has a lot going for it. If you're one of many students who enjoy eating out and going to concerts or other entertainment, the higher rewards earned for these purchases could make getting this card a good choice for you. It also gives you rewards for all your regular spending, which can add up fast.
Since there's no annual fee, everything you earn is pretty much a plus. The ThankYou program from Citi is, in our opinion, one of the best rewards programs in the U.S. right now. The 2,500 bonus ThankYou® Points earned when you spend $500 on purchases in the first 3 months will start you off on the right foot. Add to that the 0% intro APR on purchases for 7 months (14.74% - 24.74% variable APR thereafter) and you have a really solid student card with good rewards.
If you travel outside of the US, or shop on foreign web shops, the foreign transaction fee will cost you. But if you don't travel or shop internationally then this won't be a problem and if you're looking for a credit card that will reward you for all your purchases while you start building a credit record, then this may be your kind of card.
Ivan Daniel is a writer at GET.com. Email: email@example.com.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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