Citi Rewards+^℠ Student Card Review

Who is the Citi Rewards+ Student card for? 

The Citi Rewards+ Student Card is an ideal option for undergraduate and graduate students looking to spend cost-effectively. Its reward rate and round-up feature allow students to quickly accrue points for typical expenses like groceries, gas, and other small purchases. These points can be redeemed in the form of gift cards, online cash at Amazon.com and Bestbuy.com, and travel rewards. For students on a budget, the redemption options offer great cost-saving methods. To further decide whether or not the card is right for you, consider some of its unique features. 

Rewards

Students can earn 2x ThankYou points per $1 spent at eligible supermarkets and gas stations for the first $6,000 spent each year. After that, they earn 1x ThankYou point per $1 on all other purchases. This is a great way to make the most of everyday purchases from school supplies to dorm room essentials. 

The ThankYou Points are rounded up to the nearest 10 points on every purchase without a cap, which is extremely beneficial for students who frequently make small purchases. For instance, if you spend $2 on a cup of coffee, you’ll earn 10 full reward points. Spending $12 on a pack of notebooks will award you 20 rewards points. This perk allows students to earn points exponentially even if they don’t spend as much.

An important thing to note is that the benefits of the round-up feature depend on the type of charges made to the credit card. The larger the purchase, the less valuable the round-up feature becomes. In comparison to earning 5 points for each dollar spent on a $2 cup of coffee, you only earn 1.02 points for each dollar spent on a $147 textbook. 

Signup Bonus

The signup bonus on the Citi Rewards+ Student Card is relatively easy to reach. Spend $500 in purchases with the Citi Rewards+ Student Card in the first 3 months of account opening and you can earn 2,500 points. Furthermore, with no annual fee, this offer makes it a very attractive student credit card.

Redemption Options

When you are ready to redeem your ThankYou Points, you earn 10% points back for the first 100,000 points redeemed per year. This means that you receive 10,000 points back, an amount that would normally take $5,000 worth of purchases at supermarkets and gas stations or $10,000 worth of purchases elsewhere to obtain. 

ThankYou Points can be spent in a number of ways. They can be spent in the form of gift cards for department and home stores as well as restaurants. You can use your points to shop online for textbooks or a new computer at Amazon.com or Bestbuy.com. Points can also be redeemed in the form of travel rewards such as flights, hotels, cruises, and more. This flexible redemption option is perfect for college students flying back home for holidays or planning a vacation with friends for spring break. 

The process for redeeming ThankYou Points is easy and straightforward. They can be redeemed either online at www.thankyou.com or by calling the ThankYou Service Center at 1-800-THANKYOU.

Citi Benefits 

In addition to the existing rewards, you can enjoy special access to exclusive events like concerts, sports games, dining experiences, and more through the Citi Entertainment program. While anyone can view the Citi Entertainment website, only Citi credit card owners can purchase tickets or access complimentary offers. 

Cardmembers also receive the benefit of convenience. Shopping does not get easier with Citi’s contactless pay. The contactless chip-enabled card allows you to simply tap your card on the payment reader when making a purchase, a safer and quicker payment method that protects your account information. If a store does not have a contactless payment reader, you can still swipe or insert your card into the payment reader. For further peace of mind, you can also use your digital wallets to shop safely and easily online, within apps, and in stores.

Any issues that you may have with your account or card can be addressed by Citi’s customer service representatives 24 hours a day, 7 days a week. 

Low Introductory Annual Percentage Rate (APR)

With the Citi Rewards+ Student Card, you get 0% introductory APR on purchases for the first seven months. This, however, does not apply for balance transfers. The zero interest feature is useful when you have to make a large purchase that will take some time to pay off (as long as the scheduled minimum payments are made on time). Therefore, it is best to make the payments by the end of the introductory period, otherwise, you will be charged the standard variable APR of 14.49% to 24.49% based on creditworthiness thereafter. If you make a late or returned payment, Citi has the right to apply a variable penalty APR of up to 29.99%. 

Other features to consider 

• You must be at least 18 years of age and a college undergrad or graduate student to qualify for the Citi Rewards+ Student Card. 
• The foreign transaction fee is 3% of each purchase transaction in US dollars, something you may want to take into account if you often travel abroad.
• The balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is greater, for each transfer. 

Conclusion 

The Citi Rewards+ Student Card is an appealing option if you frequently buy groceries and gas, as well as finance many small purchases. Luckily, this is the case for many students, whose daily expenses include buying snacks, ordering in, or going to the movies. The rewards rate combined with the round-up feature means that you can accumulate points quickly. Just make sure to check that you spend at least $6,000 per year on groceries and gas, that way, you can earn an additional point per dollar after spending over that limit. The flexibility built into the point system enables you to get rewards on a wider category of expenses. If all these features of Citi Rewards+ Student Card fit your criteria and spending habits, then the Citi Rewards+ Student Card may be the right card for you.