Build healthy credit habits and earn 5 reward points for every dollar spent at restaurants and on entertainment, both popular student activities, with the Citi Forward Card for College Students. Free of annual fees, this card uses incentives to help students get on the right track with their use of credit. Cardholders gain bonus points and an interest rate reduction by paying on time and staying under the credit line.
 | | - No Cosigner required
- 5 ThankYou® Points for every $1 you spend at restaurants and on entertainment; 1 point per $1 on all other purchases.
- APR reduction on purchases when using credit wisely
- 100 ThankYou Points each billing period that you pay on time and stay under your credit line.
- Go to issuer's official application, terms, and details
| | | | Intro APR for Purchases | Intro APR for Balance Transfer | Regular APR | Annual Fee | 0% for 7 months | N/A | 13.99% - 23.99% (Variable) | $0 |
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| Overall Score | 3.8 | |
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| Rewards | 4.0 | |
| Fees | 4.0 | |
| Benefits | 3.5 | |
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5-point scale (the higher, the better)
Pros and Cons
- APR reduction
- Rewards program
- Bonus rewards for responsible credit use
- Point limit
- Points expire after 5 years
Bottom Line
Good rewards credit card for college students looking to develop good spending habits
Benefits
Here are some of the benefits that come with the Citi Forward Card for College Students that make this card a favorite among coeds:
No co-signer required – Other credit cards often require college students to have a cosigner. Many parents are hesitant to co-sign because they don’t want their credit affected if their child is irresponsible with their card. This card eliminates that hassle for those who have income.
APR reduction – This is nearly unheard of! With most credit cards, cardholders are stuck with the rate they received at the time of account opening. This card will actually provide cardholders with an APR reduction on purchases when they use their card wisely.
Cardholders can get up to 2% off their purchase APR over the life of their card; to accomplish this, they must simply make a purchase, pay on time and stay under their credit limit for 3 billing periods in a row. Each time they do this, they receive a 0.25% reduction, until they reach the 2% maximum benefit.
Rewards program – Cardholders receive rewards points when utilizing their card: 1,000 points when they sign up for paperless statements within the first 3 months of account opening; 5 points for every dollar spent at book stores, record stores, restaurants, movie theaters, and video rental stores; and 1 point for every dollar spent on all other purchases. Points can be redeemed for a wide range of rewards, from electronics and rock climbing lessons to gift cards. Citi adds new items every month and rewards are available for as little as 100 ThankYou points.
Bonus rewards for responsible credit use – Cardholders also receive 100 ThankYou Points each billing cycle in which they make their minimum payment on time and stay within their credit limit; this equals up to 1,200 bonus points per year simply for being responsible. Be aware that billing cycles with a zero minimum payment due are not eligible for this bonus.
Disadvantages
Cash Advance APR - One drawback of this Citi card is the Annual Percentage Rate (APR) for cash advances. If you ever want to draw cash from your credit card, the cash advance rate is 25.24% or higher (as determined by your creditworthiness at time of application). The purchase APR is from 13.99 to 22.99% after the initial 7-month 0% introductory rate.
Point limit and expiration - The yearly maximum of points you can accumulate in one year is 75,000, and your points expire after 5 years. The annual limit won't be a problem for most college students, but the point expiration is unfortunate. Many reward programs offer unlimited points that don't expire.
Bottom Line
The Citi Forward Card for Students offers great incentives and a solid rewards program to students looking to develop good spending habits. Students who plan on accumulating points slowly over time (past 5 years) might want to look for a card with points that don't expire.
Next Step: View the issuer's official application, terms, and details
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Disclaimer: This content is not provided or commissioned by the company whose products are featured on this site. Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser. This site may be compensated through the Advertiser's affiliate programs.
Disclaimer: This content was first published on September 5, 2011. This content may have been updated on January 22, 2013. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Citi website for updated information.
