With the Citi Double Cash Card, you earn up to 2% cash back on every purchase you make and pay off — but what are the card’s other benefits?
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The Citi® Double Cash Card comes with a unique cash back offer – the opportunity to earn unlimited 1% cash back on every purchase, as well as a second cash back percentage every time you make on-time payments on those purchases. You can earn a full 2% cash back on every purchase you make and pay off, which provides an incentive for you to pay off your balances as quickly as possible.
But what are the other Citi Double Cash benefits? Let’s take a closer look at the benefits of the Citi Double Cash Card, which include the opportunity to earn double cash on every purchase, the ability to turn your cash back rewards into Citi ThankYou Points and an 18-month balance transfer offer that can help you pay off old debt without worrying about interest charges.
Citi Double Cash Card benefits
The Citi Double Cash Card benefits include a unique rewards offer that can help motivate you to pay off your credit card bill in full, as well as a Citi Double Cash balance transfer offer that gives you 18 months to pay off old debt without accruing interest charges.
Here’s a quick Citi Double Cash benefits guide:
Flat cash back
The Citi Double Cash Card is a flat-rate cash back card that offers an unlimited 1% cash back on all purchases, along with the opportunity to double your cash back when you make on-time payments on those purchases. This gives you the potential to earn 2% cash back on every purchase you make and pay off.
How does the Citi Double Cash Card stack up against other top cash back credit cards?
If you compare the Citi Double Cash Card versus the Capital One Quicksilver Cash Rewards Credit Card, keep in mind that the Capital One Quicksilver Cash Rewards Credit Card offers an unlimited 1.5% cash back on all purchases – whether or not you pay off your balances. You can earn more rewards with the Citi Double Cash Card, but only if you make those credit card payments on time.
Another similar credit card to look into is the Wells Fargo Active Cash℠ Card which earns unlimited 2% cash back. As far as rewards go, the Citi Double Cash and the Wells Fargo Active Cash are almost identical, but unlike the Double Cash, the Active Cash offers a sign-up bonus of $200 when you spend $1,000 in purchases in the first three months. This is a relatively low spent requirement, so you may want to give more serious consideration to the Active Cash.
What about a credit card that offers bonus category cash back rewards, like the Chase Freedom Unlimited? When you compare the Chase Freedom Unlimited with the Citi Double Cash Card, keep in mind the Chase Freedom Unlimited card only offers 5% cash back on Lyft purchases (through March 2022), grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year, and travel purchased through Chase Ultimate Rewards. You can earn 3% cash back on drugstores and dining, but otherwise, you’re only earning 1.5% cash back on other purchases. Depending on your shopping habits, you might be better off with the Citi Double Cash Card’s 2% (as long as you’re paying on time to secure that second percent of cash back).
Easy redemption options
You will have plenty of redemption options with your Citi Double Cash rewards. You can turn your cash back into statement credits, deposit your cash back into a checking or savings account, request to receive your cash back in the form of a mailed check or even use your cash back to purchase gift cards. (You’ll need $25 minimum cash back before you can access any of these redemption options, so keep that in mind before you get started.)
If you want even more ways to redeem your Citi Double Cash rewards, try turning your cash back into Citi ThankYou Points. Every $1 in cash back is worth 100 ThankYou Points, and those ThankYou Points can be used to book travel, shop online and more. You can even transfer your ThankYou Points to participating travel loyalty programs, including several loyalty programs with international airlines.
Balance transfer offer
One of the best Citi Double Cash benefits is its 0% intro APR offer – meaning no interest for 18 months on balance transfers, followed by a variable APR of 13.99% to 23.99%. This makes the Citi Double Cash card not only one of the best zero-interest credit cards but also one of the best credit cards for balance transfers.
The Citi Double Cash 0% intro APR offer only applies to balance transfers, not to any new purchases made on your Citi Double Cash card. If you’re looking for a no-annual-fee Citi credit card that offers an intro APR on balance transfers and new purchases, you might want to consider the Citi® Diamond Preferred® Card. The Citi Diamond Preferred Card offers 0% intro APR for 21 months on balance transfers (must be completed within 4 months of account opening) and a 0% intro APR on purchases for the first 12 months. A variable APR of 13.74% to 23.74% applies thereafter. However, when you’re comparing the Citi Diamond Preferred Card and the Citi Double Cash Card, keep in mind that the Citi Diamond Preferred doesn’t offer any cash back rewards.
The Citi Double Cash Card is a no-annual-fee credit card, which also means it doesn’t offer as many benefits and perks as cards that do charge an annual fee. You won’t get travel benefits like TSA PreCheck or Global Entry application credits, and there aren’t any Citi Double Cash airline benefits like complimentary airport lounge access or free checked bags.
However, the Citi Double Cash does offer a few perks like damage and theft protection, which gives you the opportunity to get reimbursed up to $10,000 per incident (up to $50,000 per year) if an item you purchased with your Citi Double Cash card is damaged or stolen in the first 90 days. You can also extend a manufacturer’s warranty by an additional 24 months for qualifying items paid for with your Citi card.
The biggest benefit the Citi Double Cash Card offers is the opportunity to double your cash back rewards every time you pay off your balance. For many people, the incentive to earn double cash back on every purchase while avoiding credit card debt is what truly makes the Citi Double Cash Card worth it.
Get the most out of your Citi Double Cash rewards
If you want to maximize your Citi Double Cash rewards, make sure you pay off your credit card balances. Remember, you only earn 1% cash back on every purchase – to get that second percent of cash back, you have to pay your purchase off in full.
It’s also worth noting that you need to pay your credit card bill on time every month in order to earn that second cash back percentage. If you make a late credit card payment, you won’t earn double cash back on any of the purchases you paid off – so make sure you get those payments in on time! Not only will you earn 2% cash back on every purchase, but you’ll also build a positive credit payment history and potentially improve your credit score.
The Citi Double Cash Card’s biggest benefit is the opportunity to double your cash back every time you make on-time credit card payments. While you won’t get much in the way of travel perks or similar extra benefits, the ability to earn 2% cash back on every purchase you pay off is a huge win. And when you add in the Citi Double Cash balance transfer offer that gives you 18 months of 0% interest on balance transfers, the Citi Double Cash card becomes a double win.