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The Citi® Drivers Edge
Visa Card for College Students, issued by Citibank, is designed for students
who are planning on purchasing a new or used car (foreign or domestic) within a
five-year period.
Through the reward program, cardholders earn a rebate of 3% for purchases made
at supermarkets, drugstores, and gas stations. All other purchases earn a rebate
of 1%. The maximum amount of rebates that can be redeemed is $2,500 per vehicle
and any unused rebates expire in 5 years. Rebates can also be used for payment
of maintenance, service, or repair performed on a vehicle.
Aside from the reward program, students have access to a variety of benefits and
services provided to Citibank cardholders that include auto rental insurance,
various security features, and purchase protection services. Discounts are also
available at participating merchants and retailers.
This card offers no annual fee and a 0% introductory rate that applies to all
transactions for six months (which is a rare benefit). Although it has a
reasonable interest rate for a student card, there is a minimum cap of 19.99%
for cash advances. So no matter how low the Prime Rate falls (the APR is tied to
the Prime Rate), the interest rate will not go below the minimum cap.
Nevertheless, those students who plan to spend a considerable amount using a
credit card and can afford to pay in full each month once the introductory rate
expires (to avoid finance charges) will benefit most from what the Citi® Drivers
Edge Visa Card for College Students has to offer.
Review Date: May 1st, 2007 |
