My favorite feature of the card is that they round up your purchases to the nearest 10 ThankYou points, so if you make a one dollar purchase, for example, you’d earn 10 ThankYou points. That’s a cool feature that we haven’t seen before on another card, and it nicely complements the Citi Premier® Card (review) and/or Citi Prestige® Card, since you can pool points across those cards.
Anyway, Citi has also released a student version of the card — the Citi Rewards+℠ Student Card — which I think many student readers may be interested in.
The basics of the Citi Rewards+ Student Card
- No annual fee
- Purchases are rounded up to the nearest 10 ThankYou points
- Earn 2x ThankYou points on supermarkets and gas stations for the first $6,000 per year
- 10% of your points back for the first 100,000 points you redeem per year
The only real difference I can spot between the cards is the welcome bonuses.
The student version of the card has a smaller welcome bonus — you earn 2,500 bonus points after spending $500 within three months, rather than 15,000 bonus points after spending $1,000 within three months.
Who should get a student credit card?
Using your credit responsibly to maximize your credit card rewards is one of the best ways to earn points.
The catch is that it’s often tough to establish good credit, especially when you’re young. This is what I went through about a decade ago, when I first got into credit cards.
As much as it’s tempting to apply for a premium card right away, the reality is that without a significant credit history or high income, you’re typically best off starting small. That’s where a student credit card helps, since it can help you build your credit long term.
Generally speaking student credit cards are less rewarding than other cards, though in this case I’d actually consider this to be a solid student card, given the “rounding up” feature.
To build your credit score you’ll also want to keep some cards long term, so getting this student card with no annual fee and a unique perk is a great way to do so.
For more on applying for credit cards as a college student, see this post.
However, for a student just getting started with credit cards, I think picking up the student version of the card to help build your credit history is a great option. I think the “rounding up” feature will especially resonate with college students, given how many small transactions many college students make, where the rounding up will make a material difference in points earning potential.