The Citi Double Cash Card, through our partner Citi, is a good option for people who pay their minimum balances on time since it offers 2% cash back on all purchases—1% when they're made and another 1% when made they're paid off. A 0% start APR on debt transfers for the first 18 months is also available with the Citi Double Cash card. Based on a person's creditworthiness, the standard variable APR will range from 16.24% to 26.24%.
Overview of the Citi Double Cash Card
When considering the Citi® Double Cash Card, the words "practical" and "constructive" emerge. Using this cashback credit card, you may improve your financial status, strengthen your credit card habits, and earn rewards without keeping track of constantly-changing category thresholds.
Return On Investment
The Citi Double Cash is a tremendous flat-rate cash back card that offers up to 2% cash on all purchases. It also has an earn-as-you-pay rewards system that may help you monitor your spending. You must pay off your outstanding debt to get an extra 1% cash back on your purchases.
Earning Rebates
Your ability to get the most out of the Citi Double Cash is directly proportional to your ability to manage it. Maintaining a regular payment schedule is essential to avoid late fees and interest charges on your credit cards. If you don't pay off your debt, you won't get the total amount of cash back you're entitled to, and interest charges will quickly deplete any incentives you receive.
Redeeming A Cash Rebate
Statement credits, direct deposits, checks, and ThankYou points are all possible methods of cashing out your incentives in the form of cash. Creating a ThankYou account is as simple as choosing to exchange your rewards for points. By doing so, you may exchange your points for gift cards, travel through Citi, or the ability to use your points to shop on Amazon or PayPal using Shop with Points.
Are Incentives Worth It?
Cashback is usually worth one penny for every percentage point you get back. If you use the Citi Double Cash card to make $500 in monthly purchases and pay it off in full, you'll receive $120 in cash back rewards after a year.
However, you have the option of redeeming your cash for ThankYou points by simply converting it back to cash. In contrast, The Points Guy found that Citi's no-annual-fee ThankYou points are "basic" and cannot be transferred to travel partner programs at a rate greater than Citi's base 1 cent value.
A Breakdown Of The Advantages And Disadvantages
That doesn't mean the Citi Double Cash's other card perks aren't worthwhile, though.
Offer with 0% Interest Rate
The Citi Double Cash is a debt transfer credit card and a cashback credit card. The 0% introductory APR offer on balance transfers for the first 18 months is one of the most protracted transfer durations available. Although the offer is free for the first four months, remember that if you use it, you'll be charged $5 or a 3 percent initial balance transfer fee on any transfers you make within that time.
Benefits Of Safety And Security
Additional security and fraud safeguards are provided by the Citi Double Cash card, which has a robust flat-rate rewards structure and an excellent initial APR deal. If you lose your credit card, Citi will replace it within 24 hours and give you emergency cash while you wait for a new one to arrive, thanks to their 24-hour fraud protection and Lost Wallet Service.
Citi Entertainment
Presale tickets, events, and more are available through Citi Entertainment, whether it's a music festival, professional football game, or fine dining experience.
Expenses and Rates
As a general rule, annual fees require that your spending generate enough rewards to justify the expense, so there is no recurrent annual cost to offset. For 18 months, Citi Double Cash provides a 0% introductory APR on balance transfers, followed by a variable APR ranging from 16.24% to 26.24%. The continuing APR is below the average current interest rate and might be one of the lowest prices for a flat-rate cashback card of its class that we've seen so far this year.
Citi Double Cash: Worth it?
The Citi Double Cash is a beautiful alternative for people searching for an everyday credit card that gets a decent cashback percentage on each purchase – no changing categories or cash back calendars to keep up with. The Citi Double Cash does not offer a sign-up bonus, which may be a deal breaker if you place a premium on the ability to earn rewards points.
