An Attractive Option for Students: Citi ThankYou Preferred Card for College Students

By Christina Majaski. Last updated 8 August 2017. 0 comments

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College students who are just starting out on their financial journeys, might run into the age old problem of not having enough credit to qualify for credit. In these instances, in order to build credit, your options are usually either secured credit cards or cards specifically designed for students. These cards often include perks and benefits you would find on traditional credit cards, plus a few that are specific to consumers who are in college. (See also: Best Credit Cards for College Students)

The Citi® ThankYou Preferred Card for College Students from our partner Citi is one of the best student credit cards available, providing an opportunity for students to earn ThankYou points from their purchases, while building a strong credit history.

How This Card Works

Earn 2X points for each dollar spent on dining out, which can include bars and fast food restaurants, and entertainment purchases such as concerts, movie theaters, and museums. Earn 1X point for each dollar spent on all other purchases. There is no expiration and no limit to the amount of points you can earn with this card.

Bonus offer: Earn 2,500 bonus points after spending $500 in purchases within the first 3 months of account opening.

Redeem 2,500 ThankYou Points for $25 in gift cards, electronics and othr rewards when you redeem at thankyou.com.

Other Benefits

Citi Private Pass. Provides special access to events and exclusive ticket presales with perks such as preferred seating to events such as sporting events, concerts, and family entertainment

Citi Price Rewind. Register your purchases and Citi automatically searches for the items for a lower price. If a lower price is found within 60 days, you can receive a refund of the difference.

Damage and theft protection. Purchases made with your card are protected against damage or theft for up to 120 days of purchase.

Extended warranty. The manufacturer's warranty on your purchases are extended automatically.

Trip Cancellation. If you trip is cancelled or interrupted, you can be reimbursed for non-refundable expenses such as change fees.

Worldwide car rental insurance. Your rental car may be covered against theft of damage.

Personal concierge. Access personal concierge services 24/7 from anywhere in the world if you need assistance with booking flights or making reservations, or buying gifts.

Costs

  • $0 Annual Fee
  • 15.49% - 25.49% Variable APR (0% introductory APR for purchases for seven months)
  • 4% Balance Transfer Fee ($5 minimum)
  • 3% Foreign Transaction Fee

Pros

Bonus. This is one of the only student credit cards offering a bonus at all. The bonus of 2,500 points that you receive if you spend $500 with your card within the first three months, can be redeemed for a $25 gift card. 

Introductory APR for purchases. There is an introductory APR of 0% for purchases for the first seven months, which can help you save money if you need to make a large purchase. Although rare with student credit cards, it is important that you are diligent in paying off the purchase within the introductory period in order to get the most out of the 0% opportunity.

Exclusive Citi benefits. Citi’s Price Rewind and Private Pass are attractive especially for college students who are interested in special events and VIP access. The Price Rewind feature can help save money if students don’t have the time to shop around for the best price.

Cons

Foreign transaction fee. If you are a student planning to travel or make foreign purchases, the foreign transaction fee of 3% is going to devalue any rewards you earn with your purchases. There are other student cards that do not charge a foreign transaction fee, and are better for foreign purchases or traveling abroad. (See also: Best Credit Cards with No Foreign Transaction Fees)

Who This Card Is Best For

The Citi ThankYou Preferred Card for College Students is best for college students who spend heavily in restaurant and entertainment categories. It is also best for students whose spending is primarily domestic, and/or plan on making a large purchase and can take advantage of the bonus and 0% introductory APR.

Click here to apply for the Citi® ThankYou Preferred Card for College Students today!


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