In an extremely rare move, citi bank has actually reduced their APR on two of their student credit cards.

The standard purchase APR is currently 17.24% (P+13.99%) for the Citi� mtvU^TM Platinum Select� Visa� Card for College Students.

The Citi MTVU Card is one of our favorite student credit card because you can earn reward points not just for spending on your card, but also for paying on time (to encourage responsible habits) and also for getting good GPA scores (encourages students to study hard). The reward points in their Thank You Rewards Program can also be used to reduce your student loan principal!

The reduction in APR makes this cards one of the lowest APR student credit cards around. While I do not encourage students to get into credit card debt, this move to lower the APR comes as a surprise. I’m not sure if the effect will be to encourage students to carry their balance or will it simply make their cards more attractive without the negative side effects?

I recommend the Citi MTVU card highly. Citibank does not require any income or co-signer to get their cards. If are looking for a student credit card, then this APR can only be good news (though I don’t encourage you to get carried away).

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Citi MTVU Platinum Select Card Review

Citi Platinum Select Card for College Student Review

This entry was posted on Friday, August 3rd, 2007 at 01:57 and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.