Personal Finance and Investing

What’s better than getting a great deal with a discount gift card? What about getting a free gift card?

This month, we’re seeing quite a few promotions from a few companies that we follow and which advertise on this site. One such company is the credit card issuer, CitiBank, which offers credit cards that allow you to earn reward points that you can later redeem for merchandise and other items through the Citi ThankYou Points network.

CitiBank Promotion: Earn Extra Points From Citi Cards

New cardmembers who are college students are eligible to partake in this latest promotion that allows them to earn up to 3,600 extra bonus points by signing up for any one of these two Citi credit cards: the Citi mtvU Platinum Select Card and the Citi Forward Card.

To apply for any of these cards, please visit this page.

Here are a few particulars about these Citi rewards cards:

The Citi mtvU Platinum Select Card gives you:

• 1,200 bonus points for every billing period for the first 3 months if you pay on time and remain under your credit line.
• 2,000 reward points two times a year for good grades (you’ll have to show your GPA as proof).
• 25 reward points per billing period by paying on time and respecting your credit line.
• 5 points for each dollar spent in music, movies, books and dining.
• 1 point for everything else.

The Citi Forward Card gives you:

• 1,200 reward points for every billing period for the first 3 months if you pay on time and remain under your credit line.
• 8,500 points after your first $250 purchase and after you sign up for paperless statements within 3 months of account open.
• .25% purchase APR reduction for good behavior.
• 100 points for each billing period when you pay on time and keep under your credit line.
• 5 points for each dollar spent in music, movies, books and dining.
• 1 point for everything else.

If you are a college student who manages your credit card debt responsibly (e.g. you make on time payments and stay under the credit limit), then you can earn up to 3,600 additional points — which is the equivalent of a free $25 gift card — by applying to these new cards between now and January 15, 2010.

These are the kind of cards that I find most suitable for younger people because of the built-in incentives for good financial behavior. If they’re going to own credit cards anyway, then why not let them learn how to manage their bills responsibly? These cards encourage cardholders to develop good financial habits through their rewards program.

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