Citi Forward Visa Review (discontinued)
Updated July 20, 2016.
The Facts
The Math
Assuming you can achieve 1 cent per point in redemption, this is currently one of the two only cards that offer 5% on dining (including fast food). Also take a note that Citi still count Amazon.com as a bookstore! Obviously, for general purchases Fidelity Amex offers better return at 2%.
The Conclusion
5% (or up to 6.65% if paired with TY Premier or TY Prestige) on dining and entertainment (including Amazon) could be huge and that is why it makes Dr. Credit Card's Top List. Since it was discontinued accepting new applications in early 2013, we had to take it down from the Top List.
The Facts
- Annual Fee: None
- Signup Bonus: 6,000 ThankYou points
- Rewards: 5x dining & entertainment (bookstores, music stores, video rentals, movie theaters) through June 2016 and 2x thereinafter, 1x everywhere else
- Best Use of ThankYou Points: ThankYou (TY) is Citi's rewards program and the points can be redeemed for merchandise, gift cards, and travel, returning up to 1 cent per point. However, if you have a ThankYou Premier or ThankYou Prestige, all your TY points will be pooled together and you can enjoy the 33% bonus in redemption for travel, which will make 5x spending returning 6.65%
- Other Benefits: up to 1,200 points annually for paying your bills on-time
- History: Citi used to offer the mtvU Visa with the same 5x bonus categories before Forward. That was a popular card only available to students which made many people thought about signing up classes at local community colleges just for the rewards (mostly jokingly but it proves how badly some people wanted the card). With the anticipated discontinued partnership between Citi and MTV, Citi rolled out the Forward which is open for everyone in 2009. As of November 2011, Citi stops offering (advertising) the mtvU Visa on its website although you can still sign up through some legitimate links. In early 2013, Citi discontinued accepting new applications for the Forward while the existing Forward customers still kept 5x category bonus. Later Citi introduced a new Forward for Students which only earns 1x for everything. In June 2016, after more than three years of grandfathering the existing Forward in for 5x points on dining & entertainment, Citi finally reduced the bonus categories to 2x, essentially making it an unattractive card.
The Math
Assuming you can achieve 1 cent per point in redemption, this is currently one of the two only cards that offer 5% on dining (including fast food). Also take a note that Citi still count Amazon.com as a bookstore! Obviously, for general purchases Fidelity Amex offers better return at 2%.
The Conclusion
5% (or up to 6.65% if paired with TY Premier or TY Prestige) on dining and entertainment (including Amazon) could be huge and that is why it makes Dr. Credit Card's Top List. Since it was discontinued accepting new applications in early 2013, we had to take it down from the Top List.