The Citi® Double Cash Card earns a flat 2% cash back on all purchases (1% when a purchase is made and another 1% when it's paid off) that makes it hard to beat, especially since there is no annual fee. Cardholders also get a competitive intro annual percentage rate (APR) for balance transfers—balance_transfer_intro_apr,balance_transfer_intro_duration , followed by reg_apr,reg_apr_type.
Citi Double Cash® Credit Card
Credit score needed
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Annual fees
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Bonus rewards
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This combination of benefits morphs the Citi® Double Cash Card into a credit card consumers with debt can benefit from now and later on. Individuals with high-interest credit card debt can use the Citi® Double Cash Card for debt consolidation and work toward debt freedom over 18 months. After that, the Citi® Double Cash Card becomes an excellent tool for earning 2% cash back with no annual fee required.
TIME’s Take
Since the Citi® Double Cash Card offers a generous rewards rate for spending and an intro APR offer for balance transfers, it's easy to see how this card can work well for two entirely different goals. Consumers who want to earn 2% cash back on all purchases without an annual fee can benefit if they pay off their balances each month to avoid interest charges. And people with high-interest debt on other cards can use the Citi® Double Cash Card to pay off that debt with zero interest over the introductory period. That helps solidify the Citi® Double Cash Card as a top balance transfer card.
In addition, the card has an balance_transfer_fees.
Pros & cons
Pros:
- 2% cash back on all purchases (1% when a purchase is made and another 1% when it's paid off)
- Intro APR offer for balance transfers
- Intro balance transfer fee
- No annual fee
Cons:
- No bonus rewards categories to maximize
- No welcome bonus
- No intro APR for purchases
- Charges foreign transaction fees
Who is the card for?
The Citi® Double Cash Card is geared to applicants with good to excellent credit who want to earn rewards for spending or consolidate high-interest debt so they can pay it down. The card also works well for consumers who want a balance transfer card right now that offers rewards and benefits later on, once they become debt free.
In terms of rewards, the Citi® Double Cash Card works well as a standalone cash back credit card or as a companion card alongside another rewards credit card that offers more than 2% back in bonus categories like dining out, travel, gas, or drugstores. If a consumer opts to have more than one rewards credit card, including the Citi® Double Cash Card, they could use other cards to maximize rewards on bonus category purchases then switch to the Citi® Double Cash Card for other spending to earn a minimum of 2% cash back.
Features
Cash back rewards for spending
One of the biggest benefits of this card is the fact it offers the same generous rewards rate on everything you buy —2% cash back on all purchases (1% when a purchase is made and another 1% when it's paid off).
This lucrative earning rate is higher than most competing cards offer on regular purchases, and the lack of bonus categories or earning caps keeps the earning structure on the Citi® Double Cash Card incredibly simple and hassle-free.
Time to pay down debt
The intro APR offer on the Citi® Double Cash Card is also worth pursuing on its own, even for consumers who only want to transfer balances without using the card for spending. The length of the intro offer combined with the introductory balance transfer fee makes the Citi® Double Cash Card competitive in a sea of other lucrative balance transfer offers.
Rewards flexibility
Also be aware that the cash back earned with this card comes in the form of Citi ThankYou points. These rewards points are very flexible and easy to use, so cardholders don't have to worry about getting stuck with rewards points that are difficult to cash in.
Basic redemption options for the Citi® Double Cash Card include direct deposits into a checking or savings account, statement credits, or a check in the mail ($5 minimum required for a check). Rewards points can also be redeemed for gift cards, purchases through Amazon, or travel through Citi.
Users can even transfer their points to a handful of airline and hotel partners, albeit at an inferior transfer ratio compared to the Citi Premier®—Citi's main travel credit card. Specifically, cardholders with the Citi® Double Cash Card can transfer their rewards points to Choice Privileges, JetBlue TrueBlue, and Wyndham Rewards.
The fine print
What interest rates and fees will you encounter with the Citi® Double Cash Card? Here's a rundown of the fine print on this card.
Interest rates
- Regular APR: reg_apr,reg_apr_type.
- Intro APR: 0% intro APR on balance transfers for 18 months, followed by reg_apr,reg_apr_type. (for balance transfers completed within four months of account opening).
- Cash advance APR: cash_advance_apr..
- Penalty APR: Up reg_apr,reg_apr_type.
Fees
- Annual fee: annual_fees.
- Cash advance fee: cash_advance_fee.
- Balance transfer fee: balance_transfer_fees
- Foreign transaction fee: foreign_transaction_fee of each transaction in U.S. dollars.
- Late payment fee: late_payment_fee
- Returned payment fee: None.
Additional hidden perks
The Citi® Double Cash Card doesn't have many notable benefits or features other than its rewards rate and intro APR offer for balance transfers. These are the few perks you do receive:
- Citi Entertainment access: Citi cardholders can gain special access to tickets to thousands of events, including sporting events, dining experiences, concerts, and more. This benefit may include special access to presale tickets for sought after events.
- Mastercard ID theft protection: This ID theft protection includes monitoring of your personal information and alerts if suspicious activity is found. Mastercard ID theft experts are also available to help resolve problems and restore credit after instances of fraud.
What could be improved
While the Citi® Double Cash Card comes with an exceptional rewards rate and a competitive intro APR offer for balance transfers, it's worth noting that some cash back credit cards have solid earning rates and intro APRs that apply to both balance transfers and new spending. Choosing this type of card lets users avoid interest on new purchases and on debt transferred to the card at the same time, which can make sense for people who want a balance transfer card they can also feel comfortable using for purchases.
In the meantime, many other cash back credit cards offer welcome bonuses worth $200 or more for new cardholders who meet a minimum spending threshold in the first few months after signing up. As we already pointed out, the Citi® Double Cash Card doesn't have a welcome offer of any kind.
Also be aware that the Citi® Double Cash Card is geared to people who have good or excellent credit already, so it's not a good card for building credit from scratch or rebuilding credit after past mistakes. In those scenarios, consumers would be better off looking for a secured credit card or a credit card for fair credit.
Card alternatives
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bonus_miles | bonus_miles | bonus_miles |
Bottom Line
While the intro APR offer for balance transfers is a great feature of the Citi® Double Cash Card, this money-saving benefit only lasts for 18 months. However, the card earns an unlimited 2% cash back on everything you buy from day one and for long after the intro period ends. This makes the Citi® Double Cash Card an excellent credit card to keep for the long haul.
Even so, it never hurts to compare the best credit card offers to find the right fit. The Citi® Double Cash Card could easily be the best card for you now and later on, but comparing it to a few other top cash back credit cards is the best way to know for sure.
Citi Double Cash® Credit Card
Credit score needed
credit_score_needed
Annual fees
annual_fees
Bonus rewards
bonus_miles
Frequently asked questions (FAQs)
Is the Citi® Double Cash Card a good card to have?
Considering that the Citi® Double Cash Card earns a lucrative cash back rate with no annual fee, it's definitely a "good" credit card. The intro APR offer for balance transfers also makes the Citi® Double Cash Card an excellent choice for debt consolidation.
Is it hard to get the Citi® Double Cash Card?
The Citi® Double Cash Card is for consumers who have good credit or excellent credit, so not everyone can qualify.
Does Citi® Double Cash Card increase your credit limit?
The credit limit you're assigned upon approval of the Citi® Double Cash Card can depend on your income, your credit history, and other factors. Citi could raise your credit limit in the future based on changes in your personal financial situation, or if you ask the card issuer for a credit limit increase.
All information about the Chase Freedom Unlimited® has been collected independently by TIME Stamped and has not been reviewed by the issuer.
The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.
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