Citi Reward Program

Citi Simplicity Card Review

The most popular feedback I receive when reviewing cards pertains to fees. Most users seem to be allergic to annual fees, balance transfer fees, and others, regardless of the quality of the rewards program or bonus offer. Even when the rewards overshadow the fees, consumers shy away. I do believe you shouldn’t pay any fee you shouldn’t have to pay, though, and when there is a rewards program available without fees, the cards with fees are less attractive. Citi has caught onto the aversion to fees, and has launched a new card that is almost fee-free, the Citi Simplicity® Card. The one fee they’re unable to shake is the balance transfer fee.

The Citi Simplicity® Card is perfect for the conscientious credit cardholder, with a 0% introductory APR on both purchases and balance transfers for 21 months. Balance transfers do come with the card’s only fee, a 3% fee — which can still make balance transfers from high APR cards worthwhile. This offer matches a few other Citi cards for the longest 0% introductory rate available today. After the introductory rate, the standard APR reverts to 16.99% variable. All customers receive the same APR regardless of credit, so there’s no guesswork involved.

Cash advances also carry the low 16.99% APR and do not carry any fees. To my knowledge, the Citi Simplicity® Card is the only card not to charge an increased rate or fee for a cash advance.

The Citi Simplicity® Card does not carry an annual fee, late payment fee or over limit fee. For example, if a cardholder is on vacation overseas and forgets to schedule an automatic payment, Citi will not charge the $25 to $39 late fee common on almost any other card. If you are using the credit card in an emergency (after your emergency fund is exhausted, naturally) and need to exceed your credit limit, Citi will not charge a fee. Although Citi is not charging its customers of this card for these actions, there still may be a penalty eventually. For those who pay late (or not at all) or exceed their limit often, Citi may choose to close the account.

The Citi Simplicity® Card was designed to take the stress out of owning a credit card, just as the name of the card implies. You won’t find a rewards program with this card but for cardholders who are interested in paying as little interest and fees as possible, this is one of the best cards out there. Any consumer who uses credit to make ends meet may want to consider applying for the Citi Simplicity® Card .

Citi Student Credit Card Offer Comparison

Visitors to any college campus quickly realize that students live differently than the rest of us. While less visible, their personal finances are also unlike those of the general population. When it comes to choosing a credit card, students also have unique requirements. Citi is one of many banks that offer a range of products directed at students.  Three of the most popular Citi student credit cards are the Forward, MTVu, and Dividend cards.

Each Citi student credit card is offered as a Visa and comes with a 0% introductory APR on purchases that lasts for seven months. They all have an initial variable APR that is equal to the Prime Rate plus 9.74% – 18.74%, depending on the applicant’s credit score. None of these student credit cards have an annual fee and no co-signer is required.

Citi Forward for College Students has a unique feature that gives students the opportunity to lower their interest rates. When the cardholder stays within his or her credit limit and pays more than the minimum balance for three straight months, Citi will lower the card’s interest rate by .25% up to eight times for a total of a 2% rate reduction. Because of this feature, the Forward card for College Students can be viewed as the lowest interest rate Citi credit card for students.

Citi Forward student cardholders also earn points in Citi’s Thank You rewards program. Cardmembers will receive five points for purchases at bookstores, record stores, restaurants, movie theaters, and video rental stores, with a single point being earned for all other purchases. Other incentives include 1,000 bonus points for requesting electronic statements and 100 points a month merely for staying below your credit limit. Thank You points are worth between .63 and one cent each towards gift card redemptions.  Finally, the Citi Forward card includes a cell phone protection plan that can reimburse students for up to $250 in the event the cardholder’s mobile phone is lost or damaged.

Like their Forward card, Citi’s MTVu student credit card offers rewards specific to college students. Cardholders accrue Thank You points in the same ways as the Forward card, but they also earn up to 4,000 points a year for maintaining a high GPA. Twice a year, students can submit their transcripts and earn between 500 and 2,000 points for having a grade point average between 2.0 and 4.0. Students earn another 25 points a month for paying their bill on time and staying below their credit limit. Finally, cardholders receive a 10% discount on purchases from MTV.

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