Verdict: It’s hard to find student credit cards that offer a generous rewards program, which sets the Citi Dividend Platinum Select Visa card for college students apart from the pack. Add to the cash back rewards a 0% intro APR and many of the same benefits offered with top tier rewards cards, and you have a very desirable credit card for college students.
Overview: The Citi Dividend Platinum Select card for college students provides a generous rewards structure of 5% cash back on common purchase categories, no annual fee and – perhaps best of all for college students – no co-signer needed to be approved for this card. College students can get their credit history started on the right track with all the tools Citi provides for credit management, plus cash rewards.
How This Card Works: This is a regular rewards credit card issued by Citi specifically for college students. No cosigner is required, so students don’t need to rely on their parents’ credit history to get this card. Citi reports payments to all three major credit bureaus, so the Citi Dividend Platinum Select Visa can help college students build a credit history while earning rewards points and enjoying all the benefits of carrying a major credit card.
Fees: There is no annual fee on this card. There is a 0% intro APR for the first 7 months. After that, students receive an APR between 12.99% and 19.99% based on credit worthiness.
Rewards: Like many Citi rewards cards, the Citi Dividend Platinum Select Visa offers cash rewards (Dividend Dollars) of up to 5%. New cardholders get 5% cash back on purchases at supermarkets, drugstores, gas stations, convenience stores and utilities for the first 6 months and 1% after that.
You can also enroll to earn 2% cash back or more in popular categories that rotate, a concept gaining popularity with credit card companies. Categories include restaurants, apparel, and hotels. If Citi were to improve on this aspect of the rewards program, they could offer more categories specifically relevant to college students; for instance, groceries, concert tickets and bookstores.
Finally, all other purchases earn 1% cash back. There is a limit of $300 in dividend rewards you can earn within one calendar year, but this limit does not apply to rewards earned by shopping through any of the 400+ retailers part of the Citi Bonus Cash Center. You can earn an average of 5% cash back through the Citi Bonus Cash Center, making it worthwhile to use your Citi Visa for online shopping.
Your Dividend Dollars balance is printed on each statement.
Benefits: The Citi Dividend Platinum Select Visa Card for College Students really stands out in the area of benefits. This is not a stripped-down version of a Visa card for people with little-to-no credit history. This card offers many of the same benefits as other platinum Visa cards and other Citi offerings. Benefits include:
- 0 $ fraud liability
- Extended warranties of up to one year on purchases made with your card
- Retail purchase protect against damage or theft for up to 0 days
- Car rental insurance
- Travel and emergency assistance
- Travel accident insurance
- Virtual Account Numbers for safe online shopping
The card also offers a number of benefits designed to help college students manage credit responsibly, including online tools to create and manage a budget, financial calculators and more.
Pros:
- No cosigner needed
- Effective way for college students to build their credit history
- Generous cash back rewards program of up to 5% or more
- Benefits that rival other cash back rewards cards
- No annual fee
- 0% intro APR for the first 7 months
Optional benefits at an added cost
Cons:
- Cash back rewards limited to $300 per calendar year (with exceptions)
- APR as high as 19.99% after the first 7 months
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