To determine the rewards potential of the Citi Double Cash card we have to look at the bonus categories and calculate what the average American household might spend in those areas. Stories, strategies, and tips for better personal finance.
We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel. One potential downside of the Citi® Double Cash Card is that it's pretty light on cardholder benefits. That’s why Citi Double Cash is an excellent flat-rate rewards option for anyone with excellent credit, whether it’s for everyday use or to pair with other credit cards …
Earn an introductory 3% cash back on $10,000 in purchases made during the first 12 months of account opening. Cash Advance: 5% of each cash advance; $10 minimum, Late Penalty: None for the first late payment; up to $40 after that.
You can redeem for cash back, travel purchases or even transfer points to another Chase Ultimate Rewards card, like the Chase Sapphire Preferred® Card – which offers a higher point value when redeemed for travel through the Ultimate Rewards portal. Recommended credit score. Get essential reads every week with our newsletter. This makes it a great addition for any cash back lover, especially those who juggle several cards to boost rewards. Privacy Policy. Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective. Citi Double Cash versus other cash-back credit cards, Best high-yield savings accounts right now, When to save money in a high-yield savings account, Everything you need to know about financial planners, Questions to ask a financial planner before you hire them, Why you should hire a fee-only financial adviser, Capital One® Savor® Cash Rewards Credit Card, The best balance transfer cards for paying off debt, card that doesn't charge foreign transaction fees, The best credit cards for average or fair credit, The best cash-back cards to open in 2020: credit card experts weigh in, The best rewards credit cards of June 2020, The best starter cards: cards for no credit or building credit in 2020, Capital One Savor Cash Rewards Credit Card, 1% cash back when you buy, plus 1% cash back when you pay your bill, 15k points after you spend $1k in the first 3 months from account opening, 0% intro APR on balance transfers for the first 18 months, then 13.99% - 23.99% (Variable), 0% intro APR on purchases and balance transfers for the first 18 months, then 14.74% - 24.74% (Variable), 0% intro APR on purchases and balance transfers for the first 18 months, then Citi Rewards+℠ Card, $300 back after you spend $3,000 on purchases in the first 3 months, 0% intro APR on balance transfers for the first 18 months, then, 0% intro APR on purchases for the first 15 months, then.
The Citi Double Cash credit card is most appealing to those in search of a no-fee card that's simple to use and earns excellent cash-back rewards.
The Citi® Double Cash Card is one of the simplest and most rewarding cash-back rewards cards. For cash back enthusiasts, you can’t ask for a better rewards rate than the Citi Double Cash Card. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Paying off your balance in full every month, then, maximizes how rapidly you receive rewards.
T-Mobile For Business BrandVoice | Paid Program, Mitsubishi Heavy Industries BrandVoice | Paid Program, Second Stimulus Check Calculator (HEROES), Forbes Analytics Plus With Teradata | Paid Program, Under 30 Detroit Hackathon: Accelerating Change, The Best Credit Cards Of 2020 (Citi Double Cash: Our Best Overall Credit Card), Blue Cash Preferred Card From American Express Review, Capital One Savor Review | Up To 4% Cash Back, Platinum Card From American Express Review, Capital One QuicksilverOne Cash Rewards Review, Capital One VentureOne Rewards Card Review, A Forbes Guide To Choosing A Cash Back Credit Card, © 2020 Forbes Media LLC. If Citi senses potentially fraudulent activity, you’ll receive alerts and won’t be held responsible for any unauthorized purchases made with the card. You won’t need to keep track of rotating categories or differing bonus rates. Balance transfer fees: The 0% intro APR period is generous, but a $5 minimum or 3% of the balance transfer amount (whichever is greater) will cut into your interest savings. Citi Flex Plan offers are made available at Citi’s discretion. This does not influence whether we feature a financial product or service. For those wanting to maximize cash back rewards, the Citi Double Cash card can be combined with other cards that pay higher rewards on select categories. According to the 2019 J.D. Once you meet the $25 minimum, there are several ways to redeem your cash back rewards, according to Citi: If you redeem your rewards for a statement credit, you will not earn 1% cash back on that amount. You then earn an additional 1% cash back when you make payment on those purchases.
For people who don’t want to handle multiple rewards cards, this 2% cash back card (1% when purchase and another 1% upon payment) offers a simple way to get rewards on every purchase without any stipulations. The balance transfer fee is added to the card’s balanc.