Summary - The Citi Forward® Card. is Citi's reward card that is targeted at those who do not really travel, but want to earn Citi's ThankYou Reward points. As we will see from the reward details, you can earn extra points from various "entertainment type" spending.

Rewards Formula - First and foremost, this is a rewards card that is based on Citi's ThankYou Redemption Network reward program. With this card, you can earn 5 points for every $1 spent on restaurants and entertainment and 1 point for other purchases. You can earn up to 75,000 ThankYou Points during any calendar year (eligible purchases appearing on your January - December billing statements). All ThankYou Points expire 5 years from the end of the month in which they are earned.

Sign Up Bonus - To give consumers an incentive to sign up for the card, Citi is offering 10,000 ThankYou Points when you spend $650 and sign up for Paperless Statements within 3 months of account opening (sending mail statement costs money for the bank!).

Pay on time bonus - One of the big fuss Citi is making about this card is that you will get up to a 2% purchase APR reduction when you make a purchase, stay under your credit line and pay on time 3 billing periods in a row.

Fees and Rates - There is no annual fee for the Citi Forward® Card.

Verdict - So is this card any good? Well, first off, let's just say that Citi has a pretty decent reward program in the ThankYou Network. So, if you are deciding if this is a good card, it essentially boils down to what do you use your card for? This card is clearly targeted at those who do not travel. If you are using your card just for things like restaurants and entertainment, and if you do not shop too much at supermarkets and you live in the city and take a subway, then the Citi Forward® Card would make a very good card.

If on the other hand, you are a family person with kids, spending a few hundred dollars a month at supermarkets and a couple of hundred dollars on gasoline (driving 2 cars in the suburbs), then perhaps this card will not suit you.

But wait! How about the features where you get extra points for paying on time? -Well, this is a great feature for those who carry a balance. But for those who pay in full, it shouldn't matter.

To sum up, I think this card will appeal to a younger audience (as Citi intended) who spend a lot eating out and entertaining. The reward structure of this card is designed to reward such spending patterns. I guess the extra 100 points is a nice incentive to teach new cardholders the importance of paying your bills on time. Citi has also listed this card under their "college student section". So I would say that this card would suit a college student very well and they could certainly apply for the Citi Forward® Card for College Students.

If eating out and entertaining do not constitute the bulk of your spending (or spending on your credit card), then you should look at other reward cards that you reward you better based on "your" spending patterns. Having said that, this card will make a good "supplement card" to your main reward card since most reward cards do not pay you extra points for things like restaurant and entertainment spending.

References
1. Press Release: Citi Forward Card launch with MySpace