Citi has replaced the popular Citi Forward® Card for College Students card with the newly launched Citi ThankYou® Preferred Card for College Students, the student version of the Citi ThankYou Prefered Card. The new credit card aims to reward young consumers with more points when they swipe when eating out and having fun.
Generally, the student version and the regular version of the Citi ThankYou Preferred card have similar features and benefits — the card designs are also identical.
For no annual fee, the Citi ThankYou® Preferred Card for College Students offers 2 ThankYou points per dollar spent on dining and entertainment, which includes live performances, movie theaters, amusement parks, tourist attractions, museums, record stores and video stores.
Cardmembers earn 1 ThankYou point per dollar on everything else.
Notable differences include slightly higher APRs and a higher balance transfer fee (3 percent versus 4 percent) with the student version compared to the non-student version.
Citi is already accepting applications to the new student credit card on its website. The Citi Forward® Card for College Students can no longer be found on the card issuer’s website — a search for the card shows the new Citi ThankYou® Preferred Card for College Students as the only result.
The Citi Forward® Card for College Students was a popular student credit card because it offered 5 ThankYou points per dollar spent on entertainment and 1 point per dollar on everything else. Cardholders earned bonus points when they paid on time and stayed below their credit limits. Additionally, for every three months that this requirement was met, cardholders received a 0.25% APR reduction (maximum of eight rate reductions).
In October, Citi downgraded the rewards structure for new cardholders of the Citi Forward for college students so that they only earned 1 point per dollar spent on all purchases.
In a previous MyBankTracker article regarding the downgrade, commenters reported that their Citi Forward cards are still earning the bonus rewards on entertainment spending.
It is unclear whether or not existing Citi Forward will get to keep their card programs.
A Citi spokesperson did not immediately reply to a request for comment.
Citi’s other credit card offering for college students is the Citi® Dividend Platinum Select® Visa® Card for College Students. The card has no annual fee and offers 5% cash back in changing quarterly categories and 1% cash back on all other purchases.