Credit Card Offers

Broke college students, rejoice—the Citi Dividend Platinum Select Visa Card for College Students is the best thing to happen to the college-aged crowd since instant noodles.

Designed for young consumers looking to build their financial future, this card makes establishing good credit and learning financial responsibility easy as well as rewarding.

With last year’s CARD Act adding restrictions to young cardholders, this card generously provides benefits and terms beyond the basics for college students. Here’s the quick breakdown of the nuts and bolts of this credit card:

• Introductory Rewards Offer: 5% cash back at supermarkets, drugstores, gas stations, & utilities for 6 months, and 2% thereafter; 1% on all other purchases. Rack up the most cash back in the first 6 months in categories specifically tailored to college students. However, the 1-2% cash back thereafter may end up being pocket change unless you are racking up huge credit card charge–but at least you’re still earning something back.
• Introductory APR: 0% APR on purchases for 7 months, if you qualify based on credit history and application. While 0% APR is always a great bonus for a new card, not many college students have the established history to qualify.
• Applying: Though getting a credit card if you’re under the age of 21 has become more difficult with the CARD Act provisions, there is no co-signer or minimum income required to qualify for this card, making it relatively easy for young consumers to start building your credit history right away.
• Rewards Redemption: Cash rewards come in the form of Dividend Dollars. If you want more than just cash back, when you shop through the 400+ retailers featured in the Citi Bonus Cash Center, you earn an average of 5% cash back. There is a maximum cap of $300 Dividend Dollars a year, except in the case of Dividend Dollars earned on purchases through the Citi Bonus Cash Center.
• Credit Education: Citi’s Use Credit Wisely site is invaluable to new cardholders, offering tools and resources to plan monthly budgets, future investments, and learn smart credit use.
• Fees: No annual fee! But there are still somewhat high fees and charges typical of student cards, such as a high APR ranging 16%-20% and tiered late fees.

The Citi Dividend Platinum Visa Card for College Students holds its own in several categories, from relatively easy approval for young applicants to a cash back program on a college student’s everyday purchases items (such as grocery runs and roadtrips). But if you aren’t interested in cash back rewards or carry a balance over month-to-month, keep shopping around for other credit cards. But for the typical college student looking for a good, simple first credit card, this one is a top-of-the-class pick.

Similar Posts:

• Citi’s Student 2010 Holiday Promotion
• New Credit Card Products for College Students
• Credit Card Rewards Growing More Generous
• Review: Citi Diamond Preferred Rewards Card
• Reasons to Apply for a College Credit Card