Citi ThankYou Preferred Card for College Students Review: Save More

Learn about the pros and cons of this credit card for students.

By Karen Doyle September 15, 2018 Credit Cards 101

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
Features:	No annual fee 0% APR for the first seven months 16.24%-26.24% variable APR 2 points per dollar on dining and entertainment 1 point per dollar on everything else
Pros:	Rewards on all purchases 2,500 bonus points if you spend $500 in the first three months No limit on points and they never expire
Cons:	The cash advance APR and penalty APR are high

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

What You Need to Know About the Citi ThankYou Preferred Card for College Students

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.

Best Features of the Citi ThankYou Preferred Card for College Students

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.

The Citi ThankYou Preferred Card for College Students — Robust Rewards

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.

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This content is not provided by the companies mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Citibank.

About the Author

Karen Doyle

Karen Doyle is a Boston-based writer specializing in personal finance, technology, marketing, health and wellness, and parenting. She has over 20 years’ experience writing for publications including Property Casualty 360, National Underwriter, MD News, and others. She holds a bachelor’s degree in Marketing from Boston College and worked as a financial advisor, with Series 7 and 63 licenses, for several years.