Citi® Double Cash Card – 18 month BT offer

In-Depth Review: Citi® Double Cash Card

The Citi® Double Cash Card is a cash back rewards credit card that gives you the satisfaction of earning cash back – twice! The card, issued by Citibank, earns an unlimited 1% cash back on every dollar spent on purchases, plus an additional 1% back when you pay off the purchase in your statement balance.

Who Can Benefit from the Citi Double Cash Card?

The Citi Double Cash Card is ideal for individuals seeking a straightforward cash back credit card without an annual fee. If you regularly use a credit card for everyday purchases and consistently pay off your balance each month, the Citi Double Cash Card can help you maximize your cash back potential. Moreover, if you prefer a simple rewards program that doesn’t require tracking rotating categories or activating offers, this card is a perfect fit.

However, if you tend to carry a balance on your credit card or desire a card with additional perks and benefits, the Citi Double Cash Card may not be the most suitable choice. In that case, exploring other credit cards that align with your specific needs and spending habits might be beneficial.

How to Get the Double Cash

Credit Needed

To be eligible for the Citi Double Cash credit card, having a good to excellent credit score is generally recommended. This typically means a FICO score of 670 or higher, though having a score in the 700s or above would increase your chances of approval and potentially qualify you for better terms and rewards.

Pre-Qualify Before Applying

A great feature of Citi credit cards is the ability to pre-qualify before applying. This pre-screening process only applies to Citi’s proprietary rewards cards, with the Citi® Double Cash Card one of those offers.

These offers are based on credit score, borrowing history, and other readily available personal information. If you receive a pre-qualified offer, your chances of approval are generally favorable. Even better, there is no credit check needed to pre-qualify with Citi.

Here is the information you will need to get pre-qualified offers from Citibank:

• Full name
• Email address
• Last four digits of your SSN
• Current address

How to Earn Cash Back

Welcome Offer

New accounts can earn $200 cash back after spending $1,500 on purchases in the first six months of account opening. This welcome bonus is almost guaranteed, especially since meeting the spending goal requires only $250 on Double Cash monthly.

Unlimited 2% Cash Back On All Purchases

With the Citi® Double Cash Card, every purchase earns a total of 2% cash back. This 2% back is divided as follows: 1% back when you make an eligible purchase with the card and an additional 1% back when you pay off the corresponding balance.

There is no limit to the amount of cash back you can earn.

Cash Back Limitations

However, there are restrictions on the types of transactions that qualify for double cash back. These transactions include:

How to Redeem Cash Back

Citi offers multiple options for cardmembers to redeem their cash back rewards. These options include statement credits, direct deposits, or receiving a check. Cardholders also have the choice to convert their cash back into Citi ThankYou® points automatically. Citi ThankYou® points are the currency of the Citi ThankYou® Rewards Program, with an estimated value of one cent per point. ThankYou® points can be used for various redemptions, such as:

• Gift cards, including 15% more value when redeeming ThankYou points for gift cards from Wayfair®, Sephora®, and Grubhub.
• Merchandise through participating retailers
• Travel
• Charity

0% Intro APR Balance Transfer Offer

The Double Cash Card has no annual fee, which is always welcome for a rewards card. Additionally, it offers a 0% intro APR for the first 18 months on balance transfers (when completed within the first four months of opening an account).

Having eighteen months to pay down existing credit card debt is an excellent feature, and it is even better when combined with the lack of an annual fee. This means you can take your time paying down your existing balances while earning cash back faster than many other comparable credit cards.

Citi® Benefits

The Double Cash Card has impressive perks and security features courtesy of Citi®. These include:

• Citi Entertainment: Citi provides cardholders exclusive access to events and ticket presales for popular concerts, sporting events, and more.
• Citi Lost Wallet: Citi’s Lost Wallet service provides emergency card replacement and emergency cash should your card be lost or stolen.
• Citi Identity Theft Solutions: Citi provides comprehensive support in identity theft and offers expedited service to help get your life back on track should you fall victim.

Mastercard Benefits

Double Cash cardholders enjoy the pinnacle of Mastercard protections and benefits courtesy of World Elite Mastercard. Just some of the perks that come with a World Elite card include:

Comparisons

How does the Double Cash compare with another popular Citi cash back card, the Citi Custom Cash℠ Card:

Unlimited Cash Back Comparisons

How does the Citi® Double Cash Card stack up against other popular unlimited cash back cards?

Chase Freedom Unlimited

The Chase Freedom Unlimited isn’t an exact match for the Citi Double Cash Card, but that doesn’t mean there are no comparisons between the two credit cards. The Freedom Unlimited Card earns an unlimited 1.5% back with every purchase – with some exceptions. That 1.5% back isn’t as impressive as the up to 5% back that comes with the Citi Custom Cash℠ Card or even the unlimited 2% back with the Double Cash. That said, earning 1.5% back is an exceptional value.

Freedom Unlimited also earns 3% back on bonus categories dining and restaurant purchases, including take-out orders and deliveries through eligible delivery services, like Grub Hub and UberEATS. That 3% back also applies to drugstore purchases. Finally, the card earns 5% back on travel booked through Chase’s Ultimate Rewards portal.

TD Bank Double Up

The TD Double Up Card is one of the closest competitors to the Double Cash Mastercard regarding features. Like the Double Cash Card from Citibank, the TD Double Up Visa Card earns an unlimited 2% cash back on all purchases. And, like Citi’s card, that 2% back takes the form of 1% back now – and 1% back later.

Where the two cards diverge are the sign-up bonus and introductory APR. The Double Up enjoys 0% intro APR on BTs for 15 months vs. the 18 months of 0% intro APR on balance transfers with the Double Cash Card from Citibank.

Wells Fargo Active Cash

The Wells Fargo Active Cash is a versatile cash back credit card that provides unlimited 2% cash back rewards without the annual fee. The card provides many of the same features as Citi’s Double Cash Mastercard but with a key difference.

Have an existing balance? In that case, the Double Cash might be right for you. Prefer to earn rewards as ThankYou Rewards points instead of cash back? The Double Cash is again the winner. But if you want an intro APR on purchases, the Active Cash has the edge.

Tips for Maximizing Rewards with the Double Cash Card

To make the most of your Citi Double Cash Card, here are some tips for maximizing your rewards:

• Use your card for all your purchases: You can earn cash back on every transaction by using your Citi Double Cash Card for all your everyday spending.
• Pay off your balance in full and on time: To receive the full 2% cash back, paying off your balance in full and on time each month is important.
• Take advantage of redemption options: Explore the different ways you can redeem your cash back, such as statement credits, checks, or gift cards, to find the option that aligns with your preferences.
• Keep track of your cash back earnings: Regularly review your cash back earnings to ensure you’re aware of the rewards you’ve accumulated.

What We Like About the Double Cash Card

Flat-Rate Rewards

The Citi® Double Cash Card is a flat-rate cash back card, much like the Chase Freedom Unlimited or the American Express Cash Magnet Card. These cards offer a basic earning rate for all purchases – 1.5% back, specifically. 

While the Double Cash Card technically earns 2% back, this is less than cards with rotating categories, such as the Discover It Cash Back or the Chase Freedom Flex. These examples earn 5% back on select categories that rotate every quarter and 1% back on everything else. For those who are very budget-savvy and like to plan all their purchases ahead of time, a cash back card that offers enhanced earnings in select categories each quarter may be preferable. 

For everyone else, however, the ability to earn a higher flat rate with every purchase than these rotating category cards is superior – especially if your purchase habits don’t sync with the 5% categories. In this regard, the Citi® Double Cash Card is an enticing option when compared to cards like the Chase Freedom Unlimited, as it effectively earns 2% back, rather than 1.5%. The only requirement for earning 2% back is making timely payments, which is something most people are likely to observe anyway.

Intro APR Offer

The Double Cash’s 18-month introductory APR on balance transfers is another great feature. That year-and-a-half of no interest on transfers is among the longest intro APR rates available today, so getting that and 2% cash back on all purchases is a one-two combination almost anyone can get behind.

Things to Consider

Foreign Transaction Fee

There’s a lot to like about the Citi Double Cash® Card, but that doesn’t mean the card is perfect. For starters, the card charges a foreign transaction fee of 3% of the transaction cost in U.S. dollars.

Foreign transaction fees typically range from 1% to 3% of the purchase amount, which can significantly increase the cost of using credit cards abroad. Still, many quality reward credit cards feature no foreign transaction fees, including several Capital One credit cards.

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