The CitiForward MySpace Credit Card offer is not a student credit card per se but it is marketed towards young adults.
One of the most important responsibilities that young adults have is to start building a solid credit history, so that when it comes time to make big purchases like a house or car, they have a credit rating that will provide them with a good rate of interest. To fulfill this responsibility most young people to open credit card accounts.
The only problem with this process is that because they have little to no credit history, credit card companies are usually only prepared to offer them a line of credit if they have a co-signer, and at a high rate of interest. This can lead to complicated financial situations if the young adult spends more than they can repay.
To combat this problem, Citi and MySpace have partnered to launch the CitiForward MySpace Credit Card.
Read through this Citi MySpace credit card review and then be sure and use our free credit card finder to compare credit cards!
Benefits of Using the CitiForward MySpace Credit Card
Those who are familiar with the social networking website MySpace will know that it makes sense for them to partner with Citi to offer this card, because they already have a strong audience of millions of individuals between the ages of 18 – 24. If they qualify for a Citi Forward MySpace Credit Card, young adults will enjoy:
- No annual fee
- 5 reward points for every dollar spent on restaurants, books, movie tickets, and music
- 1 reward point for all other purchases made on the card
- Exclusive access to VIP MySpace experiences, including concerts and movie premieres
Ways the CitiForward MySpace Credit Card Develops Responsible Spending Habits
One of the biggest problems with putting a credit card in the hands of an eighteen-year-old is that they don’t always understand that the balance will eventually have to be paid off. Credit cards aren’t intended to make it possible for you to buy things you can’t afford, rather they are a way to prove that you can manage your own finances, and pay off your balance on time each month.
Here are some of the ways that the CitiForward MySpace Credit Card will help young adults become responsible spenders:
- .25% reduction in APR when cardholders make purchase, stay under their credit line and pay at least the minimum amount due on time for 3 successive billing periods
- 100 rewards points earned for paying on time and staying under the credit limit
- Up to 1,200 bonus rewards points for participating in the 12 Resolutions campaign
Understanding the Risk of Irresponsible Credit Card Use
Although credit card companies will actively market their services to young adults, who may not yet have steady work or even a checking account, they are often reluctant to offer help when an individual gets over their head in credit card debt. Before applying for this or any card, it’s important to remember that credit cards can both help and hurt your credit, depending on how you use them.
MySpace Credit Card Application
Before submitting a CitiForward Myspace credit card application be sure and use the free tool to start comparing credit cards now!
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