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Citi® Driver's Edge® Card for College Students Review
Issued by CitiBank
  
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Overall Rating:
Benefit Rating:
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The Citi® Driver's Edge® 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 1% rebate. Cardholders can also earn Drive Rebates at a rate of $0.01 per mile driven. Up to $1,000 in rebates can be earned toward a vehicle during any twelve consecutive months, and any unused rebates expire in five years. The maximum amount of rebates that can be redeemed is $5,000 per vehicle. Rebates can also be used for the payment of maintenance, service, or repair performed on a vehicle. Rebates can also be converted into ThankYou(SM) Points and redeemed through the ThankYou(SM) Network.
This card has no annual fee and a 0% introductory rate that applies to all transactions for the first six months (which is a rare benefit for a student card). However, this card does have a reasonable interest rate for purchases and balance transfers. There is also a minimum cap of 19.99% for cash advances. Therefore, 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.
This card offers students a variety of benefits and services provided by Citibank, such as auto rental insurance, various security features, and up to $1,000,000 in travel accident insurance.
Therefore, those students who plan to take advantage of the rebate program, plan on driving long distances (to earn additional Drive Rebates), 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® Driver's Edge® Card for College Students has to offer.
Through the reward program, cardholders earn a rebate of 3% for purchases made at supermarkets, drugstores, and gas stations. All other purchases earn a 1% rebate. Cardholders can also earn Drive Rebates at a rate of $0.01 per mile driven. Up to $1,000 in rebates can be earned toward a vehicle during any twelve consecutive months, and any unused rebates expire in five years. The maximum amount of rebates that can be redeemed is $5,000 per vehicle. Rebates can also be used for the payment of maintenance, service, or repair performed on a vehicle. Rebates can also be converted into ThankYou(SM) Points and redeemed through the ThankYou(SM) Network.
This card has no annual fee and a 0% introductory rate that applies to all transactions for the first six months (which is a rare benefit for a student card). However, this card does have a reasonable interest rate for purchases and balance transfers. There is also a minimum cap of 19.99% for cash advances. Therefore, 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.
This card offers students a variety of benefits and services provided by Citibank, such as auto rental insurance, various security features, and up to $1,000,000 in travel accident insurance.
Therefore, those students who plan to take advantage of the rebate program, plan on driving long distances (to earn additional Drive Rebates), 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® Driver's Edge® Card for College Students has to offer.
Review Date: August 20, 2008
Note: The review on this card was updated on August 20, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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0% APR for 6 Months |
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Intro Applied Towards:
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Purchases, Balance Transfers, Cash Advances |
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Additional Intro Details:
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The introductory rate is available for all transactions. |
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Purchase APR:
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14.99% (Variable) The APR for purchases is based on the Prime Rate. |
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Cash APR:
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19.99% (Variable) The APR for cash advances is based on the Prime Rate. There is a minimum APR on cash advances. |
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Finance Configuration:
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Average Daily Balance (including new purchases) |
| Credit Card Fee Details | |
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Annual Fee:
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$0 |
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Additional Cardholders:
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$0 |
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Grace Period:
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20 Days (Min.) |
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Late Payment Fee:
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$15 on balances up to $100; $29 on balances of $100 up to $250; $39 on balances of $250 and over |
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Over the Limit Fee:
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$39 |
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Cash Advance Fee:
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3%, $5 minimum |
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Balance Transfer Fee:
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There is no balance transfer fee with this offer* (see site for details). |
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Minimum Credit Limit:
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$500 |
| Credit Card Reward Program Details (Rebate) | |
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Rebate Minimum:
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1% |
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Rebate Maximum:
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3% |
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Additional Rebates:
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Earn a 3% cash back rebate on purchases made at supermarkets, gas stations, and drugstores. Earn a 1% cash back rebate on all other purchases. Cardholders also earn Drive Rebates at the rate of $0.01 per mile driven. |
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Rebate Details:
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Rebates can be redeemed towards the purchase or lease of a used or new car. Rebates can also be used towards maintenance, service, or repair performed on a vehicle (card must be used to pay for these services). The maximum amount of Drive Rebates that can |
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Expiration:
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5 Years (Rebates will automatically expire if no transactions are made for 12 consecutive months.) |
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Yearly Limit:
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Up to $1,000 in rebates toward a vehicle during any 12 consecutive months (The rebate maximum which can be redeemed on any vehicle purchased or leased is $5,000.) |
| Features | |
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Most Attractive Feature(s):
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| No annual fee; access to rebate program; 0% introductory rate for all transactions. | |
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Least Attractive Feature(s):
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| Minimum APR cap for cash advances. | |
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Additional Features:
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| Various Internet account related services. Build your credit history. Free online account management. $0 liability on unauthorized purchases. Identity theft solutions. Lost and stolen card reporting. Emergency cash replacement. Emergency card replacement. Automatic bill payments. Fraud and security protection services. Optional personal photo on card. Up to $1,000,000 in travel accident insurance. Auto rental insurance. Various travel and emergency assistance services. Medical referral services. Legal referral services. Lost luggage assistance. Discounts on auto rentals. Access to credit education tips and tools. See website for additional benefits. |
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Important Notations
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| See website for complete terms and conditions of card usage and application disclosure. | |
