Credit Needed: Good/Excellent
The Citi Double Cash Card literally pays you twice – you earn 1% on every purchase and 1% when you pay for the purchase (so long as you keep up with minimum payments) for a total of 2% cash back. This makes it one of the highest flat rate cash back credit cards available. Plus, there are no caps on the total about of cash back you can earn. It’s also one of the clearest rewards cards on the market, offering straight cash back without points or bonus categories to worry about. You can simply shop as you normally would and get a great rewards rate.
The rewards are easy to use too. Once you accumulate at least $25 in cash back rewards, you can start redeeming. Cash back is redeemable by paper check, gift card, or statement credit. The only drawback here is that you cannot receive cash back as direct deposit.
In addition to the great rewards rate and simple redemption, Citi Double Cash Card has no annual fee, making it a great place to start when it comes to a primary credit card. It also offers an introductory 0% APR deal. You will pay 0% on balance transfers for the first 18 months. The rate then varies based on creditworthiness.
The main flaw of Citi Double Cash Card is a lack of a welcome bonus. Most credit cards, even cash back-cards, usually offer bonus points or extra cash back when new customers open an account. While the DoubleCash card features an attractive rewards rate, it doesn’t offer any incentives up front. There are also no higher cash back percentages on specific categories, which many other cash back cards offer. It’s really best for consumers with broad spending habits.
But what the Citi Double Cash Card lacks in introductory bonuses and higher bonus categories, it makes up for with extra benefits like Price Rewind, travel protection and special access to concerts, sporting events and dining experiences with Citi Private Pass. Citi also waives your first late fee after sign-up and cardholders can receive their FICO credit score for free.
When it comes to Citi Double Cash Card, it all boils down to simple earnings, simple redemption and a high flat rewards rate with no category restrictions, no rewards caps and no annual fee.
Rewards and Benefits
- Receive 2% cash back on purchases. This breaks down to earning 1% when you buy and another 1% as you make payments for your purchases
- To be eligible to earn cash back you must pay the minimum due on your account, without paying late
- Low 0% Intro APR for the first 18 months on Balance Transfers. Afterward, the ongoing variable APR will be 15.74% - 25.74% based on your creditworthiness
- Certain transactions do not earn cash back i.e. balance transfers, cash advances, items returned for credit, lottery tickets, and more
- There are no cash back categories, no limits to the cash back you can earn - all with no annual fee
Requirements, Costs & Fees
- Purchase APR: 15.74% - 25.74% Variable APR depending on your creditworthiness and other factors.
- Balance Transfer APR: 0% Intro APR for the first 18 months from the date of your first transfer, which must be completed within 4 months of opening your account. 15.74% - 25.74% Variable APR after the intro period, depending on your creditworthiness and other factors.
- APR for Cash Advances: 27.49% Variable
- Penalty APR: up to 29.99% Variable
- Annual Fee: $0
- Balance Transfer Fee: $5 or 3% of the transfer amount, whichever is greater.
- Cash Advance Fee: $10 or 5% of the transaction amount, whichever is greater.
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars.
- Late Payment Fee: None for first late payment, up to $39 after that
- Returned Payment: Up to $39
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