The Citi Dividend Card for College Students was one of the more generous student credit cards on the market for cash back rewards – at least for transactions involving products featured in whatever category was being featured. However, it appears that the card is no longer available. As of January 2015 the only student card presently included on the Citi website is the Citi ThankYou Preferred card for Students.
The card was exclusively designed for college and university students.
There were no annual fees.
The major reward offered by the Citi Dividend Card for College Students was a cash back reward program. Most purchases allowed cardholders to earn 1 percent cash back for all purchases using the card, including cash advances. In addition, each quarter featured a particular category where cardholders were allowed to earn an additional 5 percent cash back on purchases. There was a limit of 300 dollars annually on the amount of cash back that could be earned annually, and rewards could only be redeemed in increments of at least 50 dollars.
The foreign transaction fee was 3 percent on all transactions.
Late payments and returned payments were subject to a fee of up to 35 dollars, and automatically triggered the penalty APR. Cash advances were subject to a fee of 10 dollars or 5 percent, whichever was greater.
The Citi Dividend Card for College Students allowed students to earn cash back on their purchases, which for nearly all students, is universally appreciated. But its cash back program featured limitations and restrictions not imposed by other cash back rewards cards. There was also no room for error, thanks to the punishingly high penalty APR.