Verdict: The Citi mtvU Platinum Select credit card offers an innovative and fun way for college students to build credit and make necessary purchases.

Are you a college student? If so, you may need a credit card for day to day purchases such as food, books, CDs, etc. That being said, you don’t want to rely on just any credit card. This is where the Citi mtvU Platinum Select credit card comes into play. This card is geared towards college students, and its rewards program is among the best in the business. Not only can you earn points for every purchase you make, but you can do the same if you get good grades and pay your bill on time. Does it get any better than that? This is the equivalent of getting paid to study.

Before you apply for the Citi mtvU Platinum Select credit card you will first want to compare it to other options. Although there are many benefits of this credit card for college students, you must be 100 percent sure that it is right for you. Once you become familiar with the rewards program and other benefits there is a good chance that you will find yourself applying for the Citi mtvU Platinum Select credit card.

Rewards

Many experts feel that the rewards program for the Citi mtvU Platinum Select credit card is the most innovative among those for college students. For every dollar you spend at the following locations you will earn five points: book stores, restaurants, record stores, movie theaters, and video rental stores. But what about other purchases? For every other purchase you will receive one point for every dollar you spend. While not as lucrative as the five points for the above categories, this is still a great way to earn rewards.

If you do not exceed your credit limit and pay at least the minimum on time, you will receive an additional 25 points per billing cycle. Additionally, you can earn tons of points twice per year if you keep your grades up. For a GPA score of 2.50 to 2.99 you receive 250 points; 3.00to 3.49 you receive 500 points; 3.50 to 3.999 you receive 750 points; and for a perfect 4.0 you receive 1,000 points. This is just one more reason to work your hardest to get good grades.

It is great that so many points can be earned, but what can you cash them in for? This is what most college students are interested in. Citibanks’ ThankYou Redemption Network rewards program handles this detail for the Citi mtvU Platinum Select credit card, as well as many others. With this program you have access to both travel and shopping related rewards. For instance, with 30,000 points you can score yourself a ticket to the MTV Video Music Awards. Better yet, you can use these points to lower the principal on your student loans. It is better to start paying on these sooner rather than later.

Fees and APR

The Citi mtvU Platinum Select credit card does not have an annual fee. A zero percent APR is available for six months. This rate is good for purchases, balance transfers, and cash advances. The purchase APR is prime rate plus 8.99 percent. While not the lowest rate on the market, this is quite good for a college student. 

Benefits

1. Earn up to five points on qualified purchases

2. No annual fee

3. Low APR

4. Earn extra points for a high GPA and/or paying your bill on time

The Decision

College can be expensive. With the Citi mtvU Platinum Select credit card you can purchase everything you need while earning points along the way.

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