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The Citi® Dividend Platinum Select® Card for College Student was last reviewed on
16th July 2008
Summary - The Citi® Dividend Platinum Select® Visa Card for College Students is perhaps the best cash back student credit card. It's key features are
You earn 2% cash rebates on purchases at standalone supermarkets, gas stations, convenient stores and utilitiesEarn 1% rebates on cash advancesEarn 5 Dividend Dollars for any balance transfer above $1,500No annual feeYou get a 0% apr on balance transfer for 6 months
Let us look at this card in greater detail.
Rebate Formula Cash - The Citi Dividend Platinum Select Card for college student allows you to earn a 2% cash rebate on "everyday purchases items", defined as purchases from standalone supermarkets, gas stations, drugstores, convenient stores and utilities. You earn 1% rebate on other purchase. Unlike most other cash rebate credit cards, you can also earn cash rebates on any cash advance that you make (at 1%). Off course, you will be charged the cash advance apr for doing so. You can also earn 5 Dividend Dollars when you make a balance transfer of $1,500 or more to the card. You are allowed to earn up to $300 in annual cash rebates. However, any purchase that you make from merchants belonging to the Citi Dividend Merchant Network will not count towards the $300 cap.
Bonus - For the first six months of your card membership, you will earn 5% rebates on purchases made at supermarkets, gas stations, drugstores, convenient stores and utilities.
Fees - There is no annual fee for this card. The apr is prime rate plus
7.99%. You get an introductory 0% apr for both purchases and balance transfers for 6 months. As mentioned earlier, you will earn 5 Dividend Dollars if you make a balance transfer of $1,500 or more.
The average daily balance method (including new purchases) is used to calculate monthly balances.
Other benefits - As with all other Citibank credit cards, you will be able to make payments and manage your accounts online, enroll in automatic payments, get 24/7 customer support and get zero liability protection for any unauthorized purchases.
No Minimum Income or Cosigner - Unlike some credit card issuers, Citibank does not require that you have any income or any cosigners to get your card. Hence, it is relatively easy for a new college student to get this card and start building a credit history.
Verdict - We recommend the Citi® Dividend Platinum Select® Visa Card for College Students as this is the only student cash back credit card that pays 2% rebates on gasoline, supermarket, drugstores, convenient stores and utilities. You also do not need a minimum income or a cosigner to get this card.
Positives
Earn 2% rebates on "everyday purchases"Earn rebates on cash advance and balance transfer (above $1,500)No annual fee0% apr for 6 months on balance transfers
| Rebate Formula |
2% rebate on "everyday purchases"
1% rebate on "other purchases"
1% rebate on cash advances
5 Dividend Dollars for balance transfers above $1,500 |
| Caps on Rebate |
$300 a year
Purchases made at merchants belonging to the Citi Dividend Merchants Network are not counted in the $300 cap |
| Introductory rate |
0% APR on purchases and balance transfers for 6 months |
| Annual Fees |
No annual fee |
| Purchase APR |
Prime Rate plus 7.99% |
| Balance Transfer APR |
Prime Rate plus 7.99% |
| Cash Advance APR |
Prime Rate plus 14.99%, min 19.99% |
| Penalty/Default Rate |
Prime Rate plus 23.99% |
| Min Finance Charge |
$0.50 |
| Grace Period |
20 days |
| Balance Calculation Method |
Average Daily Balance (including new purchases) |
| Balance Transfer Fee |
3%, min $5.00
No balance transfer fee for introductory offer |
| Cash Advance fee |
3% ,min $5.00 |
| Over-the-credit-limit fee |
$39.00 |
| Late Payment fee |
$15.00 - less than $100
$29.00 - $100 to $1000
$39.00 - $1000 and above |
Apply for the Citi® Dividend Platinum Select® Visa Card for College Students
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