Citi Rewards+℠ Student Card Review
- 2.5k offer: earn 2,500 ThankYou Points after spending $500 in first 3 months.
- We estimate that ThankYou Points (TYP) are worth about 1.6 cents/point, see below for a brief introduction. So the 2.5k sign-up bonus could be worth about $40.
- Earn 2x ThankYou Points per $1 spent on dining and gas (for the first $6,000 spending on bonus categories), 1 ThankYou Point per $1 spent on other purchases.
- Rounding up: your earnings on all purchases are rounded up to the nearest 10 points. For example, if you earn 4 TYP for a purchase, you will actually earn 10 TYP. With no cap!
- 10% Points Back for the first 100,000 ThankYou Points you redeem per year. Note that you can not use this card to transfer TYP to airline miles though, so I bet this benefit is not useful for most people.
- No annual fee.
- It has foreign transaction fee, so it's not a good choice outside the US.
- Because of Citi’s 1/24 rule, if you apply for this card, you will lose the chance to get the sign-up bonus for Citi Prestige or Citi Premier in the next 24 months!
Introduction to TYP
- You can earn TYP with Citi Prestige, Citi Premier, Citi Rewards+, Citi ATT Access More, etc.
- You can add all these cards into the same thankyou.com account, and points that are about to expire will be redeemed first in the order in which they expire automatically.
- In most cases, TYP never expire. But closing account, product change, or receiving points from other people may cause TYP on that account to expire.
- If you have Citi Prestige or Citi Premier, TYP can be transferred to some airline miles. The best way to use TYP is to 1:1 transfer them to Asia Miles (Oneworld) or Avianca (AV) miles (Star Alliance). Other good options are: Singapore Airlines (SQ) (Star Alliance), Flying Blue (SkyTeam), Virgin Atlantic (VS) (Non-alliance), etc. If you use TYP in this way, the value is about 1.6 cents/point.
- If you have Citi Prestige or Citi Premier, you can redeem your TYP at a fixed rate 1.25 cents/point towards air tickets on thankyou.com; if you have Citi Premier, you can redeem your TYP at a fixed rate 1.25 cents/point towards hotels on thankyou.com. This is one of the most common way to use TYP. Points+cash is available when redeeming for air tickets, so no need to worry if you do not have enough TYP.
- If you have Citi Prestige, or you use the "Student Loan Rebate" trick, then you can redeem your TYP at a fixed rate 1 cents/point towards cash.
- In summary, we estimate that TYP are worth about 1.6 cents/point.
- For more information about TYP, see Maximize the Credit Card Points Values (overview), and Introduction to TYP: How to Earn & Introduction to TYP: How to Use (very detailed).
Recommended Application Time
- [1/24 Rule] Bonus ThankYou Points are not available if you received a new cardmember bonus for Citi Rewards+, Citi ThankYou Preferred, Citi Premier or Citi Prestige, or if you have closed any of these cards, in the past 24 months. Product change is treated as account closure if the account number is changed.
- [8/65 Rule] You can apply for at most 1 Citi cards every 8 days, and at most 2 Citi cards every 65 days, no matter approved or not.
- Citi values the number of recent hard pulls a lot, we recommend you apply when there’s less than 6 hard pulls in the past 6 months.
- This is one of the most easiest Citi card to get, but we still recommend you apply for this card after you have a credit history of at least half a year.
This card is almost identical to Citi Rewards+, the only difference is the sign-up bonus and APRs. I assume this card is also easier to get approved if you are a student because of its name. I do not recommend this card because the sign-up bonus is too low, and it also makes you lose the chance to get the sign-up bonus for Citi Prestige or Citi Premier in the near future.