Getting 2% back (1 point per dollar at the time of purchase and 1 point per dollar when you pay your bill) without an annual fee is an excellent deal. And because the Citi® Double Cash Card has added a rare welcome bonus of $200 cash back after spending $1,500 on purchases in the first 6 months of account opening for a limited time, it’s an even better value.
Review: Is the Citi Double Cash the best credit card for you?
While there are many cash back credit cards that give you 1.5% back on your spending without an annual fee, few surpass that earning threshold. That’s why the Citi® Double Cash Card is so exceptional.
With the Citi® Double Cash Card, you’ll earn 2 points per dollar (1 point per dollar when you make a purchase, and 1 point per dollar when you pay it off) on all purchases, with no limit to what you can earn. It’s an ideal card for those who want a solid rewards-earning rate without having to keep track of bonus categories or spending caps.
Because it has no annual fee, the Citi® Double Cash Card is a great option as a long-term “keeper card” — both for its strong earning and because your average account age is a factor in determining your credit score. The Citi® Double Cash Card offers a 0% intro APR on balance transfers for 18 months, then a 16.24% – 26.24% Variable APR, which can save you money if you’re looking to consolidate debt or move a balance from a high-interest credit card.
Because the Citi® Double Cash Card now earns Citi ThankYou Rewards points instead of straight cash back, you can redeem rewards for travel through the Citi travel portal, gift cards, merchandise, and more.
If you also have a Citi Premier® Card or Citi Prestige® Card (no longer available to new applicants), you can combine your rewards and transfer Citi ThankYou points to over a dozen airline and hotel partners, including Singapore Airlines, Air France-KLM, and Wyndham.
Redeeming your points this way can often translate into even more value, especially if you book business- or first-class award flights that would otherwise cost a fortune.
Before you decide on the Citi® Double Cash Card, be sure to consider other no-annual-fee cards that offer a similar earning rate. For example, the Wells Fargo Active Cash® Card offers 2% cash rewards on purchases, and comes with a welcome bonus of $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months from account opening.
How to earn rewards from the Citi Double Cash
The Citi® Double Cash Card is simple in that it doesn’t require you to keep track of bonus categories — you’ll earn the same rewards rate on every purchase you make.
Instead of awarding points all at once as most cards do, the Citi® Double Cash Card works a little differently. You’ll earn 1 point per dollar (worth 1% cash back) when you make a purchase and 1 point per dollar (1% cash back) when you pay it off. This delayed return shouldn’t be a factor if you pay your bill in full every month, but if you’re someone who carries a balance, it’s something to consider.
Again, as of March 28, 2022, the Citi® Double Cash Card earns Citi ThankYou points instead of cash back, at a rate of 1 point per dollar when you make a purchase, and 1 point per dollar when you pay it off. Points are worth 1 cent apiece when you redeem for cash back, so the effective earning rate hasn’t changed.
How to use Citi Double Cash rewards
You can redeem rewards from the Citi® Double Cash Card in more ways than you might think.
You can redeem your Citi ThankYou points for a check, a statement credit, or a credit to your linked account with no minimum requirement for statement credits or direct deposit; check redemptions have a minimum of $5. You can also use points toward travel, gift cards, merchandise, and more.
The Citi® Double Cash Card now lets you transfer Citi ThankYou points to one airline partner, JetBlue, at a transfer ratio of 5:4 (1,000 Citi ThankYou points to 800 JetBlue points), and to hotel partners Wyndham (5:4 ratio) and Choice Privileges (2:3 ratio).
If you also hold the Citi Prestige® Card or the Citi Premier® Card, however, you can combine your points and transfer them at a 1:1 ratio to all of Citi’s airline partners, including Air France-KLM Flying Blue, Cathay Pacific, and Etihad Guest, and at an improved ratio to Citi’s hotel partners.
Citi Double Cash benefits and features
As a no-annual-fee card, the Citi® Double Cash Card doesn’t come with a ton of cardholder benefits. However, there are a couple that can be very helpful in the right circumstances.
Introductory 0% APR on balance transfers for 18 months
With the Citi® Double Cash Card, you’ll qualify for a 0% intro APR on balance transfers for 18 months (balance transfers must be completed in the first four months from account opening), followed by a 16.24% – 26.24% Variable APR. A 5% balance transfer fee applies with a minimum charge of $5.
Using a 0% APR credit card for balance transfers can save you money if you’re carrying high-interest debt on other cards. It can also be a good opportunity to simplify paying down your debt by consolidating everything in one place. Just be sure you’re able to make at least the minimum payment each month and have the means to pay the entire balance before the introductory period expires.
Pair the Citi Double Cash with the Citi Premier or Citi Prestige
If you also have the Citi Premier® Card or Citi Prestige® Card, it’s a smart move to pair one of those cards with the Citi® Double Cash Card. This would make it possible to extract the maximum return from your rewards, because the Citi Premier® Card and Citi Prestige® Card open the door to transfers to all of Citi’s airline partners.
If you travel often but like saving money by booking award flights, this is an important factor to consider. But before applying, you should check out Citi’s transfer partners to make sure they work for your travel plans. Keep in mind that you can redeem points from these airlines for award flights on partner airlines; for example, because Singapore Airlines is part of the Star Alliance, you can use its miles to book award flights on United (also a Star Alliance member).