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i have to disagree. i have the mtvu card from citibank and it's rewards are some of the best. i considered changing cards since i'm in grad school now, but i'm keeping it:
25 points for paying off balance monthly
2000 points per semester if you have straight A's (even factoring in cost of a transcript it's worth it)
5 points per dollar for resteraunts (fast food or otherwise), bookstores, movie theatres, and music stores
1 point per dollar for everything else
admittedly the card's benefits are lessened if you don't get straight A's (only 750 points if you have a 3.5-3.99 gpa), but still i've yet to find a card that offers 5 points per dollar for eating out and watching movies, things that every student does all the time.
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