Students should like about getting a credit card. If you will pay off the card each month, you can start establishing a credit history. You could even earn cash back on purchases. In addition, sometimes, students just do not have any cash; therefore, a credit card will allow them to make purchases. You can find many companies that offer student credit cards. Citi offers a student credit card that could be really benefit college students.
The Citi Thank You Preferred Credit Card for Students offers excellent rewards and an enticing sign up bonus. The card gives you 1 point for most purchases and double points on entertainment and at restaurants. You can earn double points for sporting events, concerts, movie theaters, and amusement parks. During the first 3 months of membership, you can earn 2500 points for spending $500. The card offers excellent customer service. You can call or email customer service at any time, and you can report your card stolen immediately.
The card does not have an annual fee, but the interest rate can be a little high. The card carries 0% APR on new purchases for the first 7 months. The rate for a cash advance is also high. Balance transfers do not have a grace period for balance transfers or cash advances. You can redeem points for cash back, travel, gift cards, or merchandise. The card contains a chip, so the security is solid. It also comes with car rental insurance, trip cancellation insurance, and price rewind. The membership comes with the Citi private pass program that can give you extra access at concert and events.
The bottom line is that Citi is an excellent choice for students. The reward rate is above average, and the sign-up bonus is better than many of the other cards. There are a variety of rewards that you can use for redemption, and there are no black-out dates. Your rewards will not expire. If you get behind on your payments, the penalty APR is quite high, so you need to make sure you are current with all your payments. Students who get this card need to use it wisely. One of the disadvantages to this card is that there is a foreign transaction fee. They need to pay it off each month or pay more than the minimum payment.