I wish credit issuers had been innovative enough to release credit cards like Citi's mtvU Platinum Select Visa Card when I was in undergraduate school. I don't even remember having access to rewards program as a first-time credit card holder, not to mention a program that would reward me well for the all things I did every day as as student.
Apart from designing and launching a masterful marketing campaign that really speaks to its target market, Citi has put together a rewards program that I truly consider one of the best ever released for college students.
After taking a closer look at the terms and conditions, here are the top 5 reasons why I like the Citi mtvU Platinum Select Visa Card:
- Above all, it rewards students for responsibly managing credit. You can earn 25 ThankYou points every month for paying your bill on time and staying within your credit limit. It's not a lot, but at least it's something.
- Rewards points are also awarded twice a year for getting good grades. For example, a GPA in the 3.5-3.99 range will bring home an extra 750 points. Nail a 4.0 in one semester and Citi will reward you with 2,000 extra points.
- No Annual Fee and a 0% introductory APR for 6 months on balance transfers and purchases!
- You will also earn 5 ThankYou points per dollar spent on purchases at most "book stores, record stores, restaurants (including fast food restaurants), motion picture theaters, and video entertainment rental stores." Purchases at other stores earn 1 point for every dollar spent.
- Rewards points can be utilized to pay down student loan balances or redeemed through the ThankYou Network for everything from gift cards to travel.
Of course, there are some other unique benefits that come along with the Citi mtvU Visa Card. However, I don't consider redeeming 30,000 points for a ticket to the MTV Video Music Awards to be the best way to make this credit card work for you financially. Auto rental insurance and $1 million in travel accident insurance are nice added perks though.
Overall, there really is no other student credit card out there that offers all of these features listed above. So, if you're a college student looking to find a card that will help you build a solid credit history while enjoying one of the best available rewards programs with no annual fee, I recommend you consider Citi's mtvU Platinum Select Visa Card.
One last thing. Always remember to pay on time and make it automatic! The default interest rate on this card is 29.99% - Ouch.
