Citi mtvU Card: Getting Rewarded for Having a Good Grade

Are you a college student who are shopping for your first credit card?

If you are, Citibank has a credit card for you, which not only gives you generous cash back for items you are likely to shop very often, but also rewards you for having a good grade. The card is called Citi mtvU Platinum Select Visa Card. This card offers some quite unique benefits for college students, such as

• 250 to 2,000 reward points twice a year for having a good GPA
• 10% discount on music and entertainment products at shop.mtv.com
• Access to exclusive mtvU experiences like free concert tickets, tickets to the mtvU Woodie Awards or VIP status at mtvU’s Spring Break.

The extra rewards for good GPA is what I see as making the mtvU card unique. As far as I know, there’s no other cards have the same offer. A good GPA is defined as 2.50 and above. Depending on your GPA, you will get (to get the bonus points, you will need to submit proof of your grade twice a year):

• 250 ThankYou Points for GPA 2.50 – 2.99
• 500 ThankYou Points for GPA 3.00 – 3.49
• 750 ThankYou Points for GPA 3.50 – 3.99
• 2,000 ThankYou Points for GPA 4.00

But that not all what it offers. The card also lets you earn rewards, in the form of ThanksYou Points, like other rewards credit card do, but in a more generous way. For example, the card gives you 5 reward points for every $1 you spend at restaurants, bookstores, record stores, movie theaters and video rental stores. With other credit cards, you are more likely to get 1% or 3% cash back for shopping in the same categories. In addition, you will also get

• 1 reward point for every $1 you spend on other purchases
• 25 reward points each month when you pay on time and stay under your credit limit (otherwise, there will be a $39 over-the-limit fee)

Actually, this card is quite similar to another college student card offer from Citibank. The Citi Forward Card for College Students also has 5% cash back on books, movies, and musics and at restaurants, with additional benefits for spending wisely and paying bill on time.

The Citi mtvU Platinum Select Visa Card has no annual fee. If you qualify, you can get 0% APR on purchase for the first seven months after opening the account.