|
The Citi® mtvUTM Platinum Select® Visa® Card for College Students was last reviewed on 6th February 2008
Update - 8/1/2007 - Citibank has taken an unusual step by lowering the APR of this card from P+9.74% to P+7.99%
Summary - In our opinion, the Citi® mtvUTM Platinum Select® Visa® Card for College Students is perhaps the best and most innovative reward student credit card. You not only earn points for purchases, but also for getting good grades and paying your credit card bills on time. You can also use your reward points to reduce your student loan principal. Find out why we like this card.
Reward Formula - The Citi® mtvUTM Platinum Select® Visa® Card for College Students is the latest and perhaps most innovative student credit card on the market. You earn five points for every dollar you spend on purchases at (1) book stores, (2) record stores, (3) restaurants, including fast food restaurants, (4) motion picture theaters, and (5) video entertainment rental stores. You earn one point for every dollar you spend on other purchases. Aside from this, you can earn 25 points every billing cycle if you pay your minimum payments on time and do not go over your credit limit. Furthermore, you can earn points twice a year if you get good GPA scores (see table below).
Reward Formula for GPA Score
| GPA Score |
Points |
| 2.50 - 2.99 |
250 |
| 3.00 - 3.49 |
500 |
| 3.50 - 3.99 |
750 |
| 4.00 |
2,000 |
10% at MTV Stores - Cardholders can get a 10% discount at mtvshop.mtv.com and the MTV store in New York City.
Unique Rewards - This card is based on Citibanks' ThankYou Redemption Network reward program, which has both travel and shopping rewards. For this card, you can get a free ticket to MTV Videos Music Award for 30,000 points. You can also use points to reduce your student loan principal.
Fees and Rates - There is no annual fee. The apr is prime rate plus 7.99% (which is the standard rate for most student credit cards). You get a 0% introductory apr for purchases, balance transfers and cash advance for 6 months.
Other Benefits and Services - You will also get platinum benefits like one million dollars travel accident insurance, auto rental insurance, online account management and Citibanks' 24/7 customer service, annual account summary.
Verdict - The Citi® mtvUTM Platinum Select® Visa® Card for College Students is a great student credit card. Aside from earning reward points from normal purchases, you are rewarded for good money habits, like paying your bills on time and not going over your credit limit. You are also given points for getting a good GPA score and paying your bills on time. Furthermore, the ThankYou Redemptions Network reward program allows you to use points to reduce your student loan principal. There is no other student rewards with these features on the market.
Positives
Earn 5 points for selected purchasesEarn points for timely bill paymentsEarn points for getting a good GPA scoreNo annual fee
| Citi® mtvUTM Platinum Select® Visa® Card for College Students |
| Reward Benefits |
| Signing Bonus |
No signing bonus |
| Reward Formula |
Earn five ThankYou Points for every dollar you spend on purchases at (1) book stores, (2) record stores, (3) restaurants, including fast food restaurants, (4) motion picture theaters, and (5) video entertainment rental stores
Earn 1 point for every dollar you spend on other purchases
Earn 25 points every billing cycle if you make your minimum payments on time and if you are not over the credit limit.
Earn points for good GPA scores twice a year |
| Credit Limits |
From $500 |
| Caps on Rewards |
75,000 points per year |
| Expiration |
5 years |
| Other Benefits |
Online Account Access
Automatic Bill Payments
Dedicated customer service
Annual Account Summary
Get 10% discount for purchases at mtv.com or mtv stores in New York City |
| Cost/Fees/Interest rates |
| Introductory rate |
0% apr for 6 months (purchases, balance transfers and cash advance) |
| Annual Fee |
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 is 19.99% |
| Penalty/Default Rate APR |
Prime Rate plus 23.99%, min 28.99% |
| 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 max (no fee for introductory offer) |
| Cash Advance fee |
3% min $5.00 |
| Over-the-credit-limit fee |
$35.00 |
| Late Payment fee |
$15.00 - up to $100
$29.00 - $100 to $250
$35.00 - more than $250 |
Apply for the Citi® mtvUTM Platinum Select® Visa® Card for College Students
|
