Your Ultimate Guide to the Citi Double Cash® Card
Twice the Cash Back. Twice as Rewarding.
Ready to make the most out of your everyday spending? The Citi Double Cash® Card might just be your perfect match! Let’s dive into what makes this card stand out and why it could be the best addition to your wallet.
What Makes the Citi Double Cash® Card Special?
High Rewards Rate
The Citi Double Cash® Card offers a unique approach to cash back: you earn 1% when you make a purchase and an additional 1% when you pay it off. This combined 2% rewards rate is among the best for cash-back cards, especially with no annual fee.
Sign-Up Bonus
New cardmembers can earn $200 cash back after spending $1,500 on purchases within the first 6 months of account opening. This bonus is awarded as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
The Basics of Citi Double Cash® Card
Annual Fee: $0
One of the best features of this card is that it has no annual fee. This means all the rewards you earn go directly into your pocket without any deductions.
Rewards Rate: 1%-5% Cashback
- 2% on every purchase: 1% when you buy and 1% when you pay off your purchases.
- 5% cash back on select travel bookings through the Citi Travel℠ portal until 12/31/24.
Introductory Offer: 0% APR on Balance Transfers
Enjoy a 0% intro APR on balance transfers for 18 months. After that, the variable APR will be 19.24%-29.24%, depending on your creditworthiness.
Foreign Transaction Fee: 3%
While the card is fantastic for domestic use, it does come with a 3% foreign transaction fee, which might make it less ideal for international travel.
Pros and Cons
Pros
- No Annual Fee
- High Rewards Rate: 2% cash back on every purchase.
- Intro Balance Transfer Fee: 3% for the first 4 months.
Cons
- No Intro APR on Purchases
- Foreign Transaction Fee: 3%
Detailed Review
The Citi Double Cash® Card is an excellent option for those who want a simple, effective way to earn cash back on every purchase. Here’s a closer look at why this card stands out.
Everyday Rewards
The 2% cash back is distributed as 1% when you make a purchase and 1% when you pay it off. This structure encourages timely payments, which is beneficial for managing your credit responsibly.
Versatility in Redemption
You can redeem your ThankYou® Points for cash back in various forms:
- Direct Deposit: Transfer to any checking or savings account.
- Statement Credit: Apply points directly to your card balance.
- Check by Mail: Request a check for any amount of cash back.
Travel Perks
Until December 31, 2024, earn 5% cash back on hotel, car rentals, and attractions booked through the Citi Travel℠ portal. This makes it a great card for planning your vacations and making the most of your travel expenses.
Drawbacks and Considerations
No Everyday Bonus Categories
While the flat 2% cash back is great, it doesn’t offer higher rewards for specific categories like dining or groceries. Some other cards might provide more rewards in these areas.
No Intro APR on Purchases
The card doesn’t offer an introductory APR for purchases, which could be a drawback if you plan to carry a balance from new purchases.
Foreign Transaction Fee
A 3% fee on foreign transactions makes it less appealing for use abroad. For frequent travelers, a card with no foreign transaction fees might be more suitable.
How to Maximize Your Citi Double Cash® Card
Combine with Other Cards
The Citi Double Cash® Card pairs well with other bonus-category cards. Use a card like the Chase Freedom Flex℠ for specific categories and the Citi Double Cash® Card for everything else to maximize your rewards.
Pay Your Balance in Full
To fully benefit from the 2% cash back, ensure you pay your balance in full each month. This practice not only avoids interest charges but also helps you earn the second half of your cash back.
Use the Citi Travel℠ Portal
Take advantage of the limited-time offer to earn 5% cash back on travel bookings through the Citi Travel℠ portal. This is a significant boost compared to the standard 2% rate.
Is the Citi Double Cash® Card Right for You?
If you prefer a no-nonsense approach to earning cash back with minimal effort, the Citi Double Cash® Card is a fantastic choice. Its high rewards rate, no annual fee, and flexibility in redeeming rewards make it an attractive option for many consumers. However, if you frequently travel abroad or want higher rewards in specific spending categories, you might need to consider additional options.
Ready to start earning cash back on every purchase? Apply for the Citi Double Cash® Card today and enjoy the benefits of simple, effective cash rewards.
FAQs
What kind of card is the Citi Double Cash®?
It’s a cash-back card that offers 2% rewards on every purchase: 1% when you buy and 1% when you pay off your purchases.
How do you redeem rewards?
Rewards are earned as ThankYou® Points, which can be redeemed for cash back, direct deposit, statement credit, or check by mail.
Do ThankYou® Points expire?
As long as your account remains open and in good standing, your points will not expire.
Is there a limit to the amount of cash back I can earn?
No, there are no limits or caps on the amount of cash back you can earn.
Apply Now for the Citi Double Cash® Card and start enjoying the benefits of twice the cash back today!
