Citi Forward Card Review

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When I was in college, I remember a time when I signed up for a credit card because I received a really cool t-shirt.  I don’t own the shirt anymore, and I don’t own the debt I incurred with that credit card either but for a while, I spent a lot more than I could afford.  After I graduated college, I didn’t have many options in terms of credit cards because I had already ruined the very little credit I once had, but few credit card issuers have cards designed for the transition from student to professional.

One of the best cards for young professionals is the [showoff template=card_name offer=CCCitiBank1297], not because of the massive rewards it offers, rather the way it teaches responsible credit card use.  Cardholders learn proper spending habits, paying their bills on time and never going over their credit limit in a variety of ways, including bonus points for quality credit card use.  Full details on the perks the Citi Forward Card offers are below.

  • Lower your APR: Want to lower your purchase APR? All you have to do is make a purchase, stay under your credit limit, and pay on time 3 billing periods in a row and Citi will lower your APR for purchase by up to 2% “(0.25% each quarter, 8X maximum).
  • Earn Points: The [showoff template=card_name offer=CCCitiBank1297] rewards cardholders with points based on purchases and using credit wisely. Up to 1,200 points may be earned each calendar year. Citi Forward’s points, called ThankYou Points, post to cardholder’s accounts at the close of each billing cycle and are transferred to a linked ThankYou Member Account. Here are the various ways points are earned:
    1. Purchases - Five (5) points are earned for every $1 spent on books, movies, music and restaurants. One (1) point is earned for every $1 spent on all other purchases.
    2. Pay On Time – Pay on time and stay under the credit limit and Citi will pay the cardholder 100 points each month.
    3. Up Front Bonus – 10,000 bonus points after you make $650 in purchases in the first three months and sign up for paperless statements – Enough for $100 in gift cards.

The Citi Forward Card comes with a 0% APR for 7 months on purchases and 12 months on balance transfers. As with most balance transfer offers today, Citi charges a fee of 3% for each balance transfer, minimum $5.  The no interest on purchases for seven months, however, in conjunction with the ThankYou points earned, represents the card’s top feature. Unlike the balance transfer offer, the 0% on purchases does not come with any associated fees.

In an effort to help cardholders control spending, Citi has design a tool called Spend Tracker to help monitor spending. The tool helps cardholders estimate how much the are spending and compare the totals to how much their peers are spending.  The [showoff template=card_name offer=CCCitiBank1297] offers competitive points rewards for those looking to earn points for purchases. The card is particularly suited for those who spend money in the categories that earn 5X reward points: books, movies, music and restaurants. And the 0% APR on purchases for seven months will help defer interest charges to put a little extra money in your pocket.

Published or Updated: March 13, 2014
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. MK says:

    This card doesn’t sound half bad. Great to see that someone out there wants to reward responsible people that pay their bill on time each month!

  2. Mr EBO says:

    i applied for a forward card end of last week over the internet and was not able to receive immediate confirmation. how can I track my application to ensure against any identity theft…

    • DR says:

      Mr EBO, credit card companies use some of the best available technology to keep application data secure, so I’ve applied online before without any worry. That said, if you’ve not received confirmation of your application, I’d call Citi. They should be able to pull up your application, confirm that they received it, and give you a status update. If you do call them, would you mind sharing with us what you learn about why you didn’t receive a confirmation of your application>

  3. JL says:

    An explanation of what “Thank You Points” can be redeemed for would be helpful. Otherwise, accummulating points doesn’t mean much when shopping for credit cards.

  4. Chris says:

    Like the other person posted, what are the points good for? I want to see what I am able to spend them on, and if tickets to a movie are 50,000 points.

  5. Shana says:

    Thank You points can be redeemed for lots of stuff including ipods, gift certificates, computers, kitchen appliances, cameras and a whole lot more.

  6. james says:

    points can be redeemed for merchandise or cash. the cash rate is 50$ per 8000 points. That’s a little over 3% cash back at 5 points per dollar spent, but only a measly 0.625 percent cash back on everything else

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