Do you need credit to get the Citi Rewards+ Student card?

A student credit card can be very useful as a starter card.  They can help younger people with little or no credit build credit and earn rewards in the process.  Many offer similar rewards and costs, but the differences are important to understand in order to get the most out of your student card.  Popular cards include the Citi Rewards+ Student Card, the Discover it Student Chrome credit card, and the Chase student credit card.  To view the best available for you in June 2020, check out this link here. 

Qualifying for the Citi Rewards+ Student Card

Overall, the student card from Citibank is made for students with a good credit score.  This means that it may not be flat out required, but having a credit score will make it much easier to be approved for the Citi Rewards+ Student Card.  It is recommended to have at least a 690 FICO credit score to give you the best chance.  Citibank does not give details on what the official requirements are to get approved for this card.  

The Benefits of Using a Citi Rewards+ Student card

If you do get approved for this card, it is important to understand what you will be getting out of it while using it.  The unique aspect of the Citi Rewards+ Student card is the program where they will round up your points to the nearest 10 points on every purchase with no limit.  This is a feature that is only found on this card.  The other rewards points are more standard for a card of this kind, with cash back earned on typical student purchases.  During the first 3 months after getting approved, you have the opportunity to earn 2,500 bonus points with the first $500 in purchases.  These points can then be redeemed for a $25 gift card at thankyou.com. As a student, this is an easy amount to reach with housing, textbooks, groceries, and many other expenses.  Additionally, you will earn double ThankYou points on groceries and gas for the first $6,000 spent per year.  For all other categories, you will earn 1X points.  

The Cost of Using the Citi Rewards+ Student card

The student card will not be expensive to own because there is no annual fee.  On top of that, there is an introductory period of 7 months wherein you can enjoy a 0% APR.  After this period the APR will increase to 14.49% - 24.49% variable, depending on your creditworthiness.  If you plan on using the card internationally, there is a 3% foreign transaction fee, making it not exactly ideal for travel.  Lastly, if you need to make a cash advance, there is a 5% fee with an APR of 25.24%.  

Is the Citi Rewards+ Student card worth it?

The Citi Rewards+ Student card is marketed as being for students with a good credit score so it is worth looking at it holistically to understand if the card is worth it.  With no annual fee, the card is relatively cheap to own but does not offer significant rewards if you are spending a lot.  The cash back on groceries and gas are beneficial if you spend the most in these categories.  In addition, the rounding up of ThankYou points can add up over time, creating additional benefits that cannot be earned with any other card.  Overall, it is important to examine your own budget and spending habits to decide if the Citi Rewards+ Student card is right for you.  

Alternative to the Citi Rewards+ Student card

If you don’t have a qualifying credit score or decide that the rewards are not right for you, there are alternatives that may be a better option.  One of the best alternatives that does not require a FICO credit score is the Discover it Student Cash Back card.  It offers an introductory bonus of a cash back match for the first year.  Additionally, it offers 1% cash back on all purchases and 5% cash back on rotating categories.  These rewards make it a more all-around card than the card from Citibank.  For a full review of the Discover it Student Cash Back, click on the hyperlink.