Reviews Citi Double Cash credit card review

Citi Double Cash credit card review

Published: June 20, 2017
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Balance Transfer Rating:
2.5 rating
2.5 rating
2.5 / 5
Introductory Offer: 2.1
Net Value: 4.1
Features: 3.0

In a nutshell:

One of the best cash back cards on the market, the Citi Double Cash card also offers one of the longest 0 percent balance transfer deals around; however, its hefty balance transfer fee could eat into your overall savings.

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0% Introductory Period
18 months

Transfer Fee
$10 or 5% (whichever is higher)

Introductory Purchase APR
None

Regular APR
14.49-24.49% (variable)

Annual Fee
$0

Other Notable Features: Citi Price Rewind, purchase protection, Citi Identity Theft Solutions, worldwide travel accident insurance, damage and theft protection, trip cancellation and interruption protection, lost wallet service, free concierge services, Apple Pay

Cash Back Rating:
4.2 rating
4.2 rating
4.2 / 5
Rewards Value: 4.3
Annual Percentage Rate: 1.1
Rewards Flexibility: 4.7
Features: 3.0

In a nutshell:

The Citi Double Cash card is the rare card that allows you to earn up to 2 percent cash back – 1 percent when you charge and 1 percent when you pay on time – with no caps or restrictions.

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Rewards Rate

  • 1% cash back on general purchases
  • 1% additional cash back when you pay your bill on time

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$318

APR
14.49-24.49% (variable)

Rewards Redemption
Pros

  • No category restrictions
  • Redeem points for check, statement credit, gift card or checking or savings account

Cons

  • Awards expire if card is not used over 12 months
  • $25 minimum redemption

Other Notable Features: Citi Price Rewind, purchase protection, Citi Identity Theft Solutions, worldwide travel accident insurance, damage and theft protection, trip cancellation and interruption protection, lost wallet service, free concierge services, Apple Pay

No Annual Fee Rating:
4.1 rating
4.1 rating
4.1 / 5
Rewards Value: 4.1
Annual Percentage Rate: 1.1
Rewards Flexibility: 4.6
Features: 3.0

In a nutshell:

The Citi Double Cash card offers one of the best deals you can get for no annual fee: cash back at a high 2 percent rate, with no categories to enroll in and few restrictions; you only have to pay your bill on time to earn the full 2 percent rate.

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Rewards Rate

  • 1% cash back on general purchases
  • 1% additional cash back when you pay your bill on time

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$318

APR
14.49-24.49% (variable)

Rewards Redemption
Pros

  • No category restrictions
  • Redeem points for check, statement credit, gift card or checking or savings account

Cons

  • Awards expire if card is not used over 12 months
  • $25 minimum redemption

Other Notable Features: Citi Price Rewind, purchase protection, Citi Identity Theft Solutions, worldwide travel accident insurance, damage and theft protection, trip cancellation and interruption protection, lost wallet service, free concierge services, Apple Pay

Rewards Rating:
3.6 rating
3.6 rating
3.6 / 5
Rewards Value: 3.0
Annual Percentage Rate: 1.6
Rewards Flexibility: 4.6
Features: 3.0

In a nutshell:

If you regularly pay off your card in full each month, it’s hard to beat the cash back rewards on the Citi Double Cash card: It offers 2 percent cash back on any purchases you’ve fully repaid, making it an ideal card for purchases that don’t qualify for larger bonuses.

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Rewards Rate

  • 1% cash back on general purchases
  • 1% additional cash back when you pay your bill on time

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$318

APR
14.49-24.49% (variable)

Rewards Redemption
Pros

  • No category restrictions
  • Redeem points for check, statement credit, gift card or checking or savings account

Cons

  • Awards expire if card is not used over 12 months
  • $25 minimum redemption

Other Notable Features: Citi Price Rewind, purchase protection, Citi Identity Theft Solutions, worldwide travel accident insurance, damage and theft protection, trip cancellation and interruption protection, lost wallet service, free concierge services, Apple Pay

If you like receiving cash back, you will love the Citi Double Cash credit card. While its cash back structure is a little complicated, this is a unique cash back card that allows you to earn cash back twice on all your purchases, and to redeem cash back rewards for a statement credit, check, gift card or credit to your checking or savings account. The card pays 1 percent cash back on all purchases, and another 1 percent whenever you pay the minimum amount due on time.

Exceptional cash back rewards
There are dozens of cash back credit cards, but there are very few cash back cards that offer up to twice the amount of cash back on all purchases. And, among the few cards that offer such a high cash back rate, it’s rare to find one like the Citi Double Cash credit card that charges no annual fee. Also, it’s hard to argue with the card’s flexibility. You earn twice the cash back on every purchase made at any time, with no caps or restrictions, just as long as you pay your bill on time.

The additional card benefits are good too, from the free concierge services to the famed Citi Price Rewind feature, which allows you to request tracking of an item you buy and offers a refund if a lower price is found within 60 days.

You get rewarded when you buy and when you pay
The Citi Double Cash credit card has an unusual cash back structure. You don’t earn all of the cash back right away. Instead, you earn 1 percent when you make a purchase and another 1 percent when you pay the card. On the bright side, you don’t have to pay your balance in full to earn the full cash back rate. However, you might want to steer clear of carrying a balance to avoid finance charges that can undermine rewards earnings.

Not for frequent fliers and travelers
If you’re interested in travel rewards, take a closer look at travel point credit card programs or airline and hotel co-branded credit cards with large sign-up bonuses. While the Citi Double Cash credit card offers a very generous cash back program, it has no sign-up bonus, no airline transfer partners and no outstanding travel-related benefits. A large sign-up bonus can give your travel budget a huge boost. Also, miles or points can be redeemed for more than 2 cents each, if you use them wisely.

Reasons to sign up for it:

  • You are primarily interested in cash back and want to maximize your rewards.
  • You want simplicity. You don’t want to carry multiple credit cards and have to remember different bonus categories.
  • You expect to make a large purchase in the near future and can use a 0 percent intro APR for 18 months.
  • You prefer widespread worldwide Mastercard acceptance to the more limited acceptance of cards from companies such as American Express and Discover.

How to use it:

  • To maximize rewards earnings, use your card for every purchase that doesn’t include a service fee for using credit. (Some utility companies charge an extra fee.)
  • Pay your card as soon as possible to get the second half of your cash back. You can even pay your credit card bill before your statement is delivered to reduce the waiting time.
  • Don’t redeem cash back for statement credits. You lose 1 percent of your cash back whenever you redeem it as a statement credit. For example, if you redeem $25 for a statement credit, you will lose 25 cents. If you charge a considerable amount on your credit card annually, that’s a lot of quarters. So, for your cash back, choose a check or a credit to your banking account.

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