Citi ThankYou Preferred Card for College Students Review

The Citi ThankYou Preferred Card for College Students is no longer offered. You can find similar cards on our Best Citi Credit Cards page.

As a college student, your financial obligations are just starting to get real. Do you find yourself needing a little more spending power to make it through the month? If so, then you may find yourself on the hunt for a credit card.

If you want a card that has the college student in mind, then consider the Citi ThankYou Preferred Card for College Students. It may be just what you need to gain more flexibility in your spending both on campus and off campus.

Benefits & Rewards

With the Citi ThankYou Preferred Card for College Students, you can earn points while spending that you can use towards travel and other rewards. There is no cap on how many points you can earn, and they don’t expire.

You can get 2,500 points for spending $500 in the first three months with the credit card. Afterwards, you will earn one point for every dollar that you spend on all purchases, no matter where. On top of that, if you spend at restaurants and other select entertainment options, you will get 2 ThankYou points for every dollar that you spend.

This college student card also offers a wide variety of other benefits. Take advantage of programs like the Citi Price Rewind, where they will give you the best price guaranteed on all of your purchases. You also get the Citi Private Pass access that will allow you VIP access to concerts, dining, sporting events and other forms of entertainment.

You will also get protections such as EMV chip technology, trip cancellation protection, travel accident insurance and rental car insurance. These are all added perks that come along with being a cardholder.

Rates & Fees

Rates

• Min APR: 15.49%
• Max APR: 25.49%
• Balance Transfer: 15.49% – 25.49%
• Cash Advance: 26.24%

Fees

• Annual: $0
• Late Payment: $35
• Balance Transfer: $5 or 4%
• Foreign Transaction: 3%

Now we need to look closely at the rates and fees that come along with this card. One of the biggest advantages is that there is no annual fee, meaning you get access to all of the rewards without having to pay a membership fee.

There are some fees to be aware of though. First, there is a balance transfer fee of either 4% or $5, and a cash advance fee of either 5% or $10. There is also a foreign transaction fee of 3% of the total purchase. Penalty fees of up to $35 may also apply to your account if you have any late payments or any payments that are returned by your bank. This is something to be aware of.

On top of these fees, you also need to make sure that you are aware of the set up of the APR and how it works with your account. The APR for this card on purchases and balance transfers is 15.49% to 25.49%, variable based on market prime rates and your creditworthiness. The good news is that there is a 0% introductory APR on purchases for 7 months from the day that you opened your account. This is a good way to save some money on some big purchases if you take advantage of it. Cash advances are charged a higher rate of interest, right at 26.24% currently. Your rate can, however, go up to 29.99% if you are not careful with making your payments on time each month. This is known as a penalty APR.

The Bottom Line

The Citi ThankYou Preferred Card for College Students is definitely one of the better cards out there that is tailored towards students. With no annual fee, it is very attractive for students. It also has the 0% introductory APR, making it that much more of an attractive offer.