This is the card that students who like to go out should get.
The card is very beneficial to students looking for opportunities to earn rewards for dining out (including takeout) and various kinds of entertainment. There is no fee to pay for using it and there is a great set of perks offered. In this article, we’ll tell you about the features of the card and we’ll compare it to some other cards available at the market. Let’s start.
General overview of the card and our opinion
- The card doesn’t cost you anything.
- The purchases made with the card go under the following rates: 2 points / $1 (when you use the card to pay for your dinner or entertainment) and 1 point / $1 (for all the rest purchases).
- The rewards program you take part in allows you to earn ThankYou points.
- In case you decide to buy anything using the card when travelling, be ready to pay the fee of 3%.
- As a new cardholder, you qualify for the sign-up bonus of $500 if you manage to spend $2,5000 on various purchases within the first 3 months.
Our opinion: The card is a good deal for those students who kike eating out or entertaining themselves.
The card appears to be great for you if you are:
- a student who prefers dining out and is interested in the entertainment opportunities.
- a student who wants to get a sign-up bonus with his/her first credit card.
The card appears to be not that good if you are:
- a student who wants cash back instead of points.
- a student who is going to study abroad.
Basic features of the card
The card will give you rewards each time you use it to pay for the tickets to amusement parks, zoos, special events etc. besides, you’ll be able to earn 2 points for each dollar you spend at bars, restaurants, takeout and many other places where a person can go to eat. The thing that makes this card unique is the sign-up bonus. Actually, it’s rare for a student card to offer any bonuses to new cardholders.
General information concerning the card
- There is no fee to pay for using the card.
- Special APR Offer: no interest applies on the purchases made within the first 7 months.
- Standard APR varies from 15.49 to 25.49%. Cash Advance APR amounts to 26.24% but is also a subject to changes. Pay attention to the fact that there is a Penalty APR that can reach up to 29.99%.
- No annual fee that you’re expected to pay.
- Special Offer: If you manage to spend $500 during the first 3 months, you’ll be rewarded 2,500 bonus points.
More information on the card:
- With this card you’re not expected to pay any fee each year.
- This card has a great offer to potential cardholders – it gives you an opportunity to earn a sign-up bonus.
- Being a cardholder, you’re free to choose from a variety of option when it comes down to redemption.
- Keep in mind that the card rewards you double points when you use it to pay for your dinners or tickets to entertainment places.
- All the rest purchases will bring you 1 point for each dollar spent.
- There are no preset limits in terms of how many points you can earn. Besides, your points won’t expire after a certain period of time if not used.
- Due to the fact that there is a chip technology implemented in this card, you will have no problems using the card abroad.
We’ve already mentioned the fact that the card is accepted internationally due to a certain chip implemented in it. However, there is one thing you should be aware of. In case you pay for your purchases abroad using this card, you’ll have to pay extra money for each of the purchases made (3% fee).
You can redeem the points you have accumulated on your account as gift cards or travel certificates. You can also use them to make donations or in order to pay for your student loan. There are lots of redemption options. Therefore, you’ll definitely find the one that fits you best.
The Citi ThankYou® Preferred Card for College Students in comparison with its competitors
We’ve decided to compare this student card with the other 2 credit cards that are also designed for students.
We’ll start by finding out the differences between the Citi ThankYou® Preferred Card for College Students and the Journey® Student Rewards from Capital One®. This card issued by Capital One promises a flat-rate cash back of 1.5% on every purchase you’ll make with it. In case you pay off your purchases on time, the rewards rate is increased up to 1.25%. This card also has no fee to pay each year, but the thing that’s different is that there is no fee that you’re expected to pay when using it abroad.
All in all, this card is a great option for you to consider in one of the following cases:
- You’re the one who prefers to have rewards in the form of cash back or you think that a flat-rate card is better in your situation.
- You’re planning to study abroad and you are looking for a card that you can take with you.
If one of the points below describes your situation, you’d better apply for the Citi card:
- You want to get a sign-up bonus with the card you get.
- You spend at least 25% of your monthly budget on entertainment and eating out.
The other card we are going to discuss as a possible alternative to the Citi card is the Discover it® for Students. It implies certain bonus categories for the purchases in which the rate of 5% applies. All the rest purchases are bound to the rate of 1%. The card appears to be as simple as possible and provides its cardholders with a long list of bonus categories (including the categories in which you make purchases on everyday basis). At the end of the 1st year, all new cardholders will get all their expenses matched. In other words, they’ll get the reward for all the sums spend during the first 12 months of using the card. This Discover card has neither annual fee no increased penalty rate. Besides, if you fail to make your payment on time for the first time, it won’t be taken into account and you won’t be expected to pay any additional fee. Even though the cardholders that use it abroad do not pay any additional fee for the purchases they make, you should be aware of the fact that the card is not widely accepted.
We believe this card is a good deal for you in the following cases:
- You like getting rewards in the form of cash back.
- You know that you spend a lot in the bonus categories that come with it.
- You’re going to study abroad and you’ll be staying in the city where the card is accepted.
If one of the following is about you, you’d better go for the Citi ThankYou® Preferred Card for College Students:
- You know that you spend considerable sums of money on dinning out and entertainment.
- You think you’ll be able to get the most that’s possible for the sign-up bonus promised.
Summary: Is this student card worth paying attention to?
The card seems to be a good option for students. However, there is a set of requirements you need to meet in order to get it. If you want to know more about the requirements, visit the official website of the emitting bank.