Posts Tagged thank you network

The Citi Forward Card is a new reward credit card specifically geared towards young adults.  It’s created quite a bitt of buzz, thanks to Citi’s aggressive marketing campaign to bring it into consumer consciousness.

First, a word about Citi’s rewards.  Bear in mind that 100 Citi points converts to $1 worth of rewards, so don’t let the large points earnings trick you into making it look more attractive than it actually is.

With the cautionary word out of the way, let’s take a look at this rewards card in depth.  The basic rule is that you earn 5 points ($0.05 worth of rewards) for every dollar you spend on the following categories: dining, movies and music.  For all other purchases, you get 1 point for every dollar.

Cardholders get a bonus 6000 points after accumulating at least $50 in purchases for the first three months of the account.  If you sign up for the Paperless Statements (all your billing statements will be sent via email) within the same amount of time, you can get another 5000 bonus points.

Citi is also making a big deal of their 100 extra monthly points that you can get every time you settle your minimum payment on time without going over your credit limit.  While nothing earth-shattering (100 points is just $1 in rewards), it’s better than no incentive, right?

All cardholders get a 0% APR for the first six months, both for purchases and balance transfers (3% one-time fee).   If you’re single and spend much of your income on dining and entertainment, this will probably be a good rewards card to keep for the next few years, until you actually outgrow all those restaurants, movie and music expenses.  For most other folks, though, this doesn’t really sound all that interesting.