Citi Forward Card
There are a few credit cards out there that enable you to do the things you love doing most and reward you for it. The Citi Forward Credit Card is focused on the youth, on doing the things that you do the most, and earning rewards points as you go about doing them. Not only does the card reward you for doing what you do, but it also rewards you for good credit behavior. The ThankYou Rewards points are a great idea for those who are new to the credit game and are smart enough to know a good deal when they see it. The Citi Forward card offers an innovative approach to rewards. Unlike the traditional rewards focused on categories like food, gas, shopping, and dining, this card offers you several ways to earn bonus points and ongoing regular reward points with everyday purchases. It rewards you for good behavior like paying your dues on time and keeping below the credit limit and opting for paperless statements.
Reducing your APR
One of the best options given to cardholders and also one of the best reasons to get a Citi Forward card is the reduction in APR on purchases. The term APR or Annual Percentage Rate describes the interest rate applicable on the card for the whole year (See: Credit Cards Basics). This term implies the calculation of the rate applicable to the interest or finance charges levied for the whole year. The calculation and disclosure of APR in the United States is governed by the Truth in Lending Act.
To get a reduction on the APR is easy with the Citi Forward card. If the cardholder fulfills certain conditions like making a purchase, staying under the credit limit for three months, and making payments on time for 3 billing cycles, Citi will reduce the APR applicable on your card up to a certain limit over time.
Smart Introductory Offer
If you are qualified for the Citi Forward card, you can expect an introductory offer that gives you leverage when it comes to interest rates on balance transfers and purchases. During the set introductory period, the cardholder is allowed to make purchases without paying the finance charges – absolutely no interest charged on the purchases made or on balances transferred from other cards.
Like everything else, this offer is valid only during the introductory period and will lapse after the said period is over. While there is a transfer fee if the balance transfer facility is used, there are no fees attached to purchases made using this credit card.
The Citi ThankYou Points
These rewards points are arguably one of the best features available on the Citi Forward card. If you make purchases of a certain amount within three months of getting the card, you are entitled to bonus Citi ThankYou reward points. If you sign up for paperless statements within three months of getting your card, you are entitled to some more ThankYou bonus reward points.
You also get additional bonus points when you pay on time and stay under your credit line, every month. Do this for three months in a row and you are entitled to a reduction in your APR. You get a higher number of reward points when you use the card to purchase movie tickets, music, books, and at restaurants. One everything else, there are a set number of reward points available. The accumulated ThankYou rewards can be redeemed for a variety of items like iPods, gift certificates, kitchen appliances, electronics like computers, cameras, and recorders, and more.
Even More Benefits Attached
To ensure that the learning curve for credit is smooth and to keep your spending abilities responsible, Citi has introduced a new tool called Spend Tracker. This tool allows the Citi Forward cardholders to monitor their spending by estimating how much they are spending and comparing it to the totals being spent by their peers in those categories. Other smart features available on this card include:
- Virtual account number to shop online without revealing your true account number
- Citi Photocard for easier identification
- Extended warranties that may provide up to one additional year on the manufacturers U.S. Warranties
- Lost wallet service through which Citi issues you a new card (at no extra cost) if your card is lost or stolen and also deliver emergency cash (subject to your available cash limit)
- Retail purchase protection which covers most items purchased on the card for 90 days against theft and accidental damage
The Final Word
In essence, the Citi Forward Credit Card is the credit card for the new generation with rewards that match their taste and good behavior when it comes to credit and eco-awareness!
