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College students are always on the go. With all that rushing around, it's inevitable they'll buy last-minute snacks to get them through night of studying or coffee on the way to class.
This student credit card rewards all of those little purchases with points, and then rounds those points up to the nearest 10. With 2X points at supermarkets and gas stations (up to $6,000 per year in combined purchases and then 1X points), it's an excellent choice for commuter students.
While young adults trying to develop good financial habits certainly need to manage their spending, the Citi Rewards+ Student card helps out when life has high demands. After all — giving up lattes is not always the secret to building wealth, but finding ways to bring in extra cash is.
Below, CNBC Select breaks down the rewards, benefits and fees associated with the Citi Rewards+ Student Credit Card to help you decide whether this is the right card for you.
Earn 2X ThankYou® points at supermarkets and gas stations for the first $6,000 per year and then 1X points thereafter. Plus, earn 1X points on all other purchases.
Earn 2,500 bonus points after you spend $500 in purchases with your card within 3 months of account opening; redeemable for $25 gift card at thankyou.com.
0% APR for the first 7 months on purchases
14.49% - 24.49% variable on purchases and balance transfers
3% of each balance transfer; $5 minimum
See our methodology, terms apply.
With the Citi Rewards+ Student card, your rewards will automatically be rounded up to the nearest 10 points on every purchase — even the small ones.
You'll earn the following rewards on spending:
With rounding, you can accumulate points quickly. For example, a $2.25 coffee would earn you 10 points. Thanks to 2X points at supermarkets, a $32 trip to buy groceries would round up to 70 points. Overtime, these small increases could add hundreds of extra points to your rewards balance.
Plus, Citi gives you 10% Points Back when you redeem your first 100,000 ThankYou® Points each year, making it possible to earn 10,000 bonus points per year.
When you're ready to redeem your ThankYou® Points, there are a number of options, including:
Some of the less common ways you can redeem ThankYou® Points include using them to pay your mortgage or your student loans (in payments of up to $1,000).
As with most rewards programs, the value of your ThankYou® Points varies based on how you choose to redeem them. Generally, points tend to be worth about 1 cent each, but occasionally you may find bonuses, promotions and partnerships that change the value of your rewards. It's best to learn exactly how much your points are worth for each redemption method so you can make the most of your rewards when you spend them.
The good news? There is no limit to how many ThankYou® Points you can earn per year.
Right now, you can earn 2,500 bonus ThankYou® Points after spending $500 in purchases within three months of opening your account. This is the equivalent of a $25 gift card, and a nice perk for a student who plans on buying textbooks or new decor for your dorm room.
The Citi Rewards+ card also comes with entertainment benefits including:
The Citi Rewards+ Student Credit Card comes with no annual fee and a 0% introductory APR period of seven months (then 14.49% to 24.49% variable APR) on new purchases. Take note that the standard APR is at least 1% higher than the Citi Rewards+℠ Credit Card, which comes with many of the same rewards but is not specifically geared toward students who may have little credit history.
Citi Rewards+ also charges a penalty APR if you make a late payment or if one of your payments is returned. It could be as high as 29.99%, based on your credit score, and it could apply indefinitely. This high penalty APR is one more reason to practice good financial habits and pay off your balance on time and in full each month.
There is also a 3% foreign transaction fee for any purchases outside the U.S. If you have international travel on your horizon, such as a semester abroad, CNBC Select recommends finding a credit card with no foreign transaction fee, like the Journey® Student Rewards from Capital One®, which also has no annual fee.
With its unique rewards structure, your points will always round up to the nearest 10 automatically. It offers 2X rewards points for spending up to $6,000 on gas and at supermarkets, and 1X points for all other spending with no limit.
Additionally, the Citi Rewards + Student card offers a welcome bonus of 2,500 points when you spend $500 within three months of opening your account. You can think of that as comparable to a $25 coupon toward a $500 computer or textbook. There are student credit cards with higher welcome bonuses, such as the Bank of America® Travel Rewards for Students, which has a 25,000 spending bonus when you spend $1,000 in the first 90 days.
To determine which cards offer the best value for students, CNBC Select analyzed popular credit cards available for college students looking to build credit.
We compared each card on a range of features, including: credit limit, rewards program, introductory and standard APR, welcome bonuses and foreign transaction fees, as well as factors such as required credit score and customer reviews when available. We also considered any special student-centric programs that offer incentives or extra rewards.
Because it's unusual for college student cards to have robust rewards programs, we did not analyze how many rewards points you can earn in the first year. For students who are looking to build their credit history and develop strong financial skills, it's more important to practice good credit card habits — spending within your means, paying your balance on time and in full — than try to optimize your points balance.
Information about the Bank of America® Travel Rewards for Students and Journey® Student Rewards from Capital One® has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication.