What's the interest rate on your credit card? If you're carrying a credit card balance that's going to take months, or even years, to pay off, the answer to that question could cost you thousands of dollars. If you're carrying a $5,000 balance on a card with a 25% interest rate, you'll pay $1,250 in interest this year. Think of...
|Annual Fee||No Annual Fee|
|APR, Variable||0% Intro APR on purchases for 7 months; after that the variable APR will be 13.99% - 23.99%, based on your creditworthiness.|
|Cash Advance APR||25.24%|
|Intro APR Promotions||0% Intro APR on purchases for 7 months|
Up to 2% Purchase APR reduction, when you make a purchase, stay under your credit limit and pay on time 3 billing periods in a row (0.25% reduction each quarter, 8X maximum)
Earn up to 1,200 bonus ThankYou® Points for paying on time and staying under your credit limit
5 ThankYou® Points for every $1 you spend at restaurants and on entertainment;1 point per $1 on all other purchases.1 Redeem your points for things like gift cards and electronics
1,000 bonus ThankYou Points when you sign up for Paperless Statements within the first 3 months of account opening
Complimentary Cell Phone Protection
See card issuer's website for details about terms and conditions of offer.
Fair Credit Needed
- Reward point scheme tailored specifically for college students’ lifestyles
- No cosigner required
- Great signup bonuses of 0% intro APR and 1,000 bonus points for using paperless statements
- 3% foreign currency transaction fee
- High penalty for late payments
The Simple Dollar’s Review
For first-time credit card users, the Citi Forward® Card for College Students offers a little bit of everything. It’s got a decent point rewards scheme that earns you one point for every dollar spent and five for purchases made at restaurants, movie theatres, bookstores, and other places colleges students tend to drop a lot of cash. In fact, everything about this card is designed to appeal to a young, undergraduate lifestyle. You get complimentary cell phone protection if you misplace or break your smartphone, and the reward points can be cashed in for student loan credits. You also earn extra points and reductions in APR for paying your bills on time, and you don’t need a cosigner to apply, which is a big plus in today’s risk-averse credit industry.
Be careful, though: if this card gives rewards for good behavior, it certainly punishes the bad. Missing a late payment could result in your APR skyrocketing up to 29.99% indefinitely. Another downside is that the reduction in APR really doesn’t make that much of a difference in the long-term; it cannot be decreased more than 2% over the lifetime of your account. Despite these downsides, this really is a really nice first card for college students — especially if you don’t have a willing cosigner.
By now, it’s clear that our modern lives are being monitored. What we do, say and buy, and where we live – it’s all out there. Our financial lives are of particular interest to Big Data, especially credit scores. It’s a number that invisibly follows you everywhere, impacting your life in more ways than you imagine. It is the ultimate...