Review of the Citi Drivers Edge Card for College Student

The Citi Drivers Edge Card for College Student was last reviewed on 19th December 2005

citi drivers edge for college student
Summary - The Citi® Driver's Edge® Card for College Students is a great reward credit card for the student looking to use reward points towards the purchase, lease or service of his or her car. It's main features are
  • You earn 3% rebates on purchases at standalone supermarkets, gas stations and drugstores
  • You can register one car that you own and earn $0.01 rebates for every mile you drive
  • Redeem points for either a purchase, lease, service or maintanence of your vehicle
  • Option to covert rebates into ThankYou points and get a reward from Citi's reward program

Let's take a more detailed look at this card.

How you earn points? - The Citi Drivers Edge Card for College Student is an auto student credit card which allows a cardholder to earn rebates, which can be used to buy or lease, a new or used, domestic or foreign vehicle. Rebates can also be used for car services. The maximum rebates you can redeem on any vehicle you purchase or lease is $5,000, and the minimum is $25. Rebates will automatically expire if you do not make a transaction on your Driver's Edge account (such as a purchase, balance transfer, or cash advance) for 12 consecutive months, or if you do not redeem your rebates within five years from the date the rebates are earned.

Cardholders can earn 3% rebates for purchases at standalone supermarkets, gas stations and drugstores, and 1% on other purchases. One can earn up to $1,000 in annual rebates, which is valid for 5 years.

Earn rebates on the miles you drive - The Citi Drivers Edge for College Student also allows the cardholder to earn rebates on the miles driven on your vehicle. You are allowed to register one vehicle. You can earn $0.01 in Drive Rebates for each mile you drive on the vehicle you registered on your enrollment form. The vehicle must be a car, van, light truck, motorcycle or sports utility vehicle that is used primarily for personal, family or household purposes. To earn Drive Rebates for the miles you drive, you must send a miles submission form after you have had services performed on your vehicle within 90 days. You can earn up to $500 Drivers Rebates during one calender year. The Drivers Rebates earned count as part of the $1,000 annual rebate limit.

Option to redeem rebates for ThankYou Redemptions Network Rewards - The Citi Drivers Edge for College Student allows the cardholder to convert rebates into ThankYou points (Citi's reward program). You can convert them at a ratio of $1.00 rebate for 100 points. This is a very useful feature as you may change your mind about using your rebates for an auto purchase. The Citi ThankYou Redemptions Network is a comprehensive reward program with both travel and shopping rewards.

Fees - The Citi Drivers Edge for College Student has no annual fee. You get a 0% introductory apr for balance transfer for 6 months. The apr is prime rate plus 9.99%. The average daily balance method (including new purchases) is used to calculate monthly balances.

Conclusion - This card is the only auto credit card available to college students. Those who want to earn credit card rebates that can be used towards an auto purchase will like the Citi® Drivers Edge® Card for College Students. Unlike other auto credit cards, you can not only purchase, but lease a new or used vehicle of any brand. But this is more than just an auto credit card. You are allowed to earn 3% rebates on "everyday purchases". Though not as high as 5% rebates found in other cash rebate credit card, it is still a good rebate payout for an auto credit card. Furthermore, if you change your mind about using your rebates for your automobile, you can always convert them into ThankYou points and choose a reward you want.

  • Earn 3% rebates on "everyday purchases"
  • Caps on rebate is high at $1,000 in one calender year
  • Earn rebates for the miles you drive
  • Convert rebates into reward points if you do not want to use them on your auto
  • No annual fee

Citi Drivers Edge Card for college students
Rebate Formula
Rebate Formula 3% rebate on "everyday purchases"
1% rebate on "other purchases"
1% rebate for every mile you drive on your main vehicle
Caps on Rebate $1,000 in one calender year
$500 for drivers rebate in one calender year (this is included in the $1,000 cap)
Cost/Fees/Interest rates
Introductory rate 0% APR on balance transfers for 6 months
Annual Fees No annual fee
Purchase APR Prime Rate plus 9.99%
Balance Transfer APR Prime Rate plus 9.99%
Cash Advance APR Prime Rate plus 14.99%, min 19.99%
Penalty/Default Rate Prime Rate plus 23.99%
Min Finance Charge $0.50
Grace Period 20 days
Balance Calculation Method Average Daily Balance (including new purchases)
Balance Transfer Fee 3%, min $5.00, max $75.00
No balance transfer fee for introductory offer
Cash Advance fee 3% ,min $5.00
Over-the-credit-limit fee $35.00
Late Payment fee $15.00 - less than $100
$29.00 - $100 to $1000
$39.00 - $1000 and above

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