Review of Citi mtvU Platinum Select Card





The Citi mtvU Platinum Select Card was last reviewed on 8th April 2006



citi mtvu
Summary - The Citi mtvU Platinum Select Card is the latest and perhaps most innovative student credit card on the market. You earn five points for every dollar you spend on purchases at (1) book stores, (2) record stores, (3) restaurants, including fast food restaurants, (4) motion picture theaters, and (5) video entertainment rental stores. You earn one point for every dollar you spend on other purchases. Aside from this, you can earn 25 points every billing cycle if you pay your minimum payments on time and do not go over your credit limit. Furthermore, you can earn points twice a year if you get good GPA scores (see table below). You also get a 10% discount on purchases from mtv.com or mtv stores in New York City. Furthermore, you can now use reward points to reduce your student loans.

Reward Formula for GPA Score


GPA Score
Points
2.50 - 2.99
250
3.00 - 3.49
500
3.50 - 3.99
750
4.00
2,000


The Citi mtvU Platinum Select Card has no annual fee. The apr is prime rate plus 9.74% (which is the standard rate for most student credit cards). You get a 0% introdcutory apr for purchases, balance transfers and cash advance for 6 months.

You will also get platinum benefits like one million dollars travel accident insurance, auto rental insurance, online account management and Citibanks' 24/7 customer service, annual account summary.

VerdictThe Citi mtvUTM Platinum Select Visa Card is a great student credit card. Aside from earning reward points from normal purchases, you are rewarded for good money habits, like paying your bills on time and not going over your credit limit. You are also given points for getting a good GPA score. There is no other student rewards with these features on the market.

Positives

  • Earn 5 points for selected purchases
  • Earn points for timely bill payments
  • Earn points for getting a good GPA score
  • No annual fee




Citi mtvU Platinum Select Card
Reward Benefits
Signing Bonus No signing bonus
Reward Formula Earn five ThankYou Points for every dollar you spend on purchases at (1) book stores, (2) record stores, (3) restaurants, including fast food restaurants, (4) motion picture theaters, and (5) video entertainment rental stores
Earn 1 point for every dollar you spend on other purchases
Earn 25 points every billing cycle if you make your minimum payments on time and if you are not over the credit limit.
Earn points for good GPA scores twice a year
Credit Limits From $500
Caps on Rewards 75,000 points per calender year
Expiration 5 years
Travel and Insurance Benefits
$1,000,000 Automatic Travel Accident Insurance
Auto Rental Insurance
Travel and Emergency Assistance
Discount from Hertz
Other Benefits
Online Account Access
Automatic Bill Payments
Dedicated customer service
Annual Account Summary
Get 10% discount for purchases at mtv.com or mtv stores in New York City
Cost/Fees/Interest rates
Introductory rate 0% apr for 6 months (purchases, balance transfers and cash advance)
Annual Fee No annual fee
Purchase APR Prime Rate plus 9.74%
Balance Transfer APR Prime Rate plus 9.74%
Cash Advance APR Prime Rate plus 14.99%, min is 19.99%
Penalty/Default Rate APR 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 fee during introductory period
Cash Advance fee 3% min $5.00
Over-the-credit-limit fee $35.00
Late Payment fee $15.00 - up to $100
$29.00 - $100 to $1000
$35.00 - more than $1000



Apply for the Citi mtvUTM Platinum Select Card

If you already have the Citi MTVU Platinum Select Card, we would appreicate if you could take a few minutes to share your experiences with our readers as this will help us make better informed choices. You can post your review




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