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If you are student, having a student credit card has many advantages. Unlike a debit card, student credit cards can help you establish a credit history, and if you make purchases with it and pay your bills on time, you would build a good credit score over time, which is important when you find employment in the future or apply for loans.
The Citi Forward Card For College Students is a standard Visa card issued by Citibank for those who are still in college. It has an incredible reward system classified by points, providing a wide array of rewards, and is among the more popular student credit card offers in the US.
Here we do a detailed review of the Citi Forward Card For College Students, tell you what we like and dislike about the card, and how we rate it.
Things We Like About This Card
No cosigners required. College students will be able to sign up for the card without any cosigners as long as they have a good credit score.
No annual fee. Neither the cardholder nor any additional cardholder will have to pay any annual fee, which is a plus, since annual fees are such a waste of money.
Receive 2,500 bonus points when you spend $500 within the first 3 months. When spending $500 during the first 3 months of card membership you will receive $2,500 bonus points.
Introductory 0% APR on purchases. For the first 7 months, there will be a 0% introductory interest rate (APR) on all purchases made. After those 7 months are over, the variable APR will be between 13.99% and 23.99% depending on your creditworthiness. Remember to pay on time even during the introductory period.
Up to a 2% APR reduction. If you make purchases, pay your bills on time, and not exceed your credit limit for 3 months in a row, you get a reduction of 0.25% per quarter. You are eligible for up to 8 reductions, amounting to a total of 2% APR reduction if you use your card responsibly!
Generous rewards system offering many ways to earn bonus points and various other rewards. Some are earned while you spend and others by paying on time and not going over your credit limit, in other words, you get rewarded by being financially responsible. You can earn more Thank You Points for every dollar that you spend on promotional offer purchases, such as restaurants, movie theaters, book stores, and video rental shops, and 1 Thank You Point for every dollar spent on other purchases. You can redeem your points for gift cards, music, cash, electronics, etc, through the Thank You network.
Earn up to 100 ThankYou Points every month if you pay your bills on time and don't go over your credit spending limit.
ThankYou Points can be redeemed for great rewards such as merchandise and travel, gift certificates to many stores and restaurants, movie ticket and more. If you prefer your reward to be cold hard cash, you can also redeem for a check in $50 or $100 denominations. You can also redeem your points towards repaying your student loans or mortgage loans.
Low interest rate. For those who qualify, there is a much lower interest rate, which is ideal for students, who sometimes don't have enough money to be paying off both their education and high interest rates.
Our Least Favorite Things About This Card
Points expire after 5 years. If you are in the process of accumulating points, remember that points expire exactly 5 years after the month you earned them, unless the Thank You Network is discontinued before then. As long as you remember to redeem your points, this expiration shouldn't affect you much.
Yearly reward limit is 75,000 points, without including bonus points such as those accumulated after every billing cycle. I don't think this is a problem since college students don't usually spend much on their credit cards in a year, so the reward limit might not even pose a problem to you.
The Citi Forward Card For College Students is very good for students who are already financially responsible and want to earn easy rewards and points for different uses.
What we like best about the Citi Forward Card For College Students is that you can actually watch your interest rate shrink over time if you make a purchase, stay below your credit limit and pay on time 3 months in a row. That's not difficult to achieve if you are reasonably careful! And while reward points have an expiration date, it's a long period of 5 years which gives you plenty of time to accumulate and redeem them. All in all, the Citi Forward Card For College Students is a good choice of student credit card to get if you want to start building a credit history before you graduate from college.
This card offer is no longer available through GET.com! However, click here to check out our top rated Student Credit Cards.
Katrina Gutierrez is a writer at GET.com. Email: firstname.lastname@example.org.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.