0 Interest Citi mtvU Platinum Select Visa

The Citi mtvU Platinum Select is a 0 interest credit card that gives you a 0 interest rate on balance transfers and purchases for 6 months.

After the introductory period, the standard APRs for purchases and balance transfers then becomes 16.24% variable, 17.24% variable, 18.24% variable or 20.24% variable. The rate which will apply to your card will be determined by your application and credit history. During your application, you will apply for the card at one of the above rates and your application will be subjected to the credit approval of the company.

The 0 percent does not apply to cash advances, so you will be paying a rate of 21.99% on cash advances as soon as your account is activated. And if you defaulted on any of the member card agreements, you will be charged with a default rate of 29.99%. On top of it, you will get your 0 interest offer withdrawn.

There is a 3% balance transfer fee involved in transferring your balances to this card. But the amount of balance transferred, including the 3% fee cannot be more than the credit line you have been given. The Citi mtvU is actually a student card, therefore it is only expected that qualified applicants are likely to be only be eligible for a small amount of credit line. This then means that the amount of balance that can be transferred to the 0 interest rate offer is fairly limited.

As a student card, the Citi mtvU card offers special student bonuses such as ThankYou Points for getting good grades at school. ThankYou Points can be earned by submitting the proof of your grades up to two times each calendar year. The better your grades, the more ThankYou Points you can earn. In fact, for getting a perfect grade, you can be awarded up to 2000 points!

To encourage young people to cultivate good spending habits, the Citi mtvU also rewards customers who pay on time with 25 extra ThankYou Points for every billing cycle. But if there are no balance to pay, then of course, no bonus points will be credited.

The Citi mtvU Platinum Select Visa is essentially a student rewards card but with a 0 interest rate offer. The introductory period on the credit card is only for a fairly limited 6 months, furthermore, the amount of balance that can be transferred to the 0 interest offer is quite low. But if you’re a student, you aren’t likely to qualify for many other 0 interest credit cards.

 

The Citi mtvU Platinum Select Visa for College Students at a glance:

Zero Percent Interest Rate:
Purchases and Balance Transfer, not applicable for Cash Advances.

Introductory Period:
6 Months.

Fees:
No Annual Fee.
Minimum finance charge - $0.50.
Fee for Foreign Purchases - 3% of the U.S. dollar amount of each purchase made outside the U.S.
Cash advance fee - 3.0% of cash advance amount, $5 minimum.
Balance transfer fee - 3.0% of balance transfer amount, $5 minimum.

Standard APRs after introductory term:
Rate 1 - 16.24%; Rate 2 - 17.24%; Rate 3 - 18.24%; Rate 4 – 20.24% (based on application and credit history).
Cash Advances - 21.99%.
Default rate - 29.99%.

Student bonus points:

GPA	ThankYou Points
2.50 - 2.99	250
3.00 - 3.49	500
3.50 - 3.99	750
4.0	2000

*For students who come from schools not using the GPA system, Citi will award points comparable to the student’s grade at their sole discretion.

Eligibility:
New card members only.
Must be at least 18 years old and be currently a college enrolled student.
Subjected to credit approval and other terms and conditions (read carefully before applying).