College is a time of many “firsts,” and for a lot of students, it’s when they’ll get their first credit card. There are a lot of cards to choose from, and this Citi ThankYou Preferred Card for College Students review will help you decide if this is the best first credit card for you or your student.
This Citi student credit card has a lot of features students might be looking for, like having no annual fee and rewards for purchases. The interest rate can be very high, however, especially if you have no credit history or you make a late payment. Keep reading to learn what makes this Citi card one of the best student credit cards.
|Citi ThankYou Preferred Card for College Students at a Glance|
In This Review:
- What You Need to Know About the Citi ThankYou Preferred Card for College Students
- Best Features of the Citi ThankYou Preferred Card for College Students
- The Citi ThankYou Preferred Card for College Students — Robust Rewards
Like most credit cards for college students, this card is aimed at those who are just learning about how to use credit.
Best for: College students who want to earn rewards for their purchases, and who are diligent about paying on time every month.
If you have a good credit history and can qualify for the lowest interest rate, this card should be a good experience. If not, avoid carrying a balance on this card. You could be looking at interest rates as high as 29.99 percent if you make a late payment.
This card charges a foreign transaction fee of 3 percent, so if you are studying abroad for all or part of your college career, this is not the best card for you to bring along.
This card gives rewards points on every purchase. Rewards points can be redeemed for cash, a credit on your statement, gift cards, merchandise, travel or charitable donations.
If you have a good credit score, you can qualify for the lowest interest rate of 16.24% APR, which is a very good rate for a credit card. If you pay your bill on time every month, you can maintain this attractive rate.
College students who qualify for the lowest interest rate and who are diligent about paying on time will benefit from this credit card. It’s not designed for those with lower credit scores or those who will be traveling abroad. Added benefits are the generous rewards in the entertainment and dining categories.
Click through to learn about the best cash-back credit cards.
More on Credit Card Advice
- What You Need to Know About Credit Card Expiration Dates
- 10 Things You Should Never Put on a Credit Card
- Inventive Ways to Make Money Using Your Credit Card
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Editorial Note: This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been endorsed by Citibank.