Credit Cards

How Does Citi Double Cash Card Work

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 5 minute read

The lack of a welcome bonus does not make up for a 2% cashback on all purchases. Learn more about Citi Double Cash by reading this review of the card. If you shop frequently, cashback incentives might be a terrific way to earn extra cash. In the case of those seeking a basic flat-rate cashback credit card, Citi Double Cash Card is the best option. It doesn’t matter what kind of spending you do the most often because this Citi card’s rewards program is simple to use and there is no yearly fee.

To whom should you give a Citi Double Cash credit card?

With the Citi Double Cash Card, you can earn cashback without having to deal with complex credit card reward schemes. You won’t have to stress about how much cash back you’ll get on specific purchases if you use this Citi card: You may earn up to 2% cashback on all purchases: 1% when you buy and 1% when you pay.

There is no annual fee for the Citi Double Cash card, making it ideal for budget-conscious customers. If you’re searching for a card with a generous sign-up bonus, this may not be the best option for you. The Citi Double Cash is probably not the greatest credit card to use abroad if you are a regular traveler. Foreign transactions are subject to a 3% charge.

It’s also worth noting that while the cashback offered by this card is respectable, rival credit cards provide rewards of up to 5% in some cases. In the event that your primary credit card doesn’t earn at a higher rate, the Citi Double Cash Card may be a better option.

Citi Double Cash Benefits

  • All categories receive generous rewards. As you buy and as you pay, you may earn a maximum of 2% cash back on all transactions. Cash back is always the same, so cardholders don’t have to keep track of changing categories.
  • At least six months of interest-free financing Within the first 18 months of account establishment, new cardholders are eligible for a 0% intro APR on balance transfers (then ranging from 13.99 percent to 23.99 percent (variable)). Keep in mind that a percentage of each transfer’s value is charged as a balance transfer fee. When it comes to initial fees, they now range from 5 to 3 percent for the first four months, and 5 to 5 percent after that. Defaulting on your balance transfer will result in the usual APR for balance transfers if you don’t pay it off within the intro period.
  • There is no yearly cost. Users of the Citi Double Cash Card don’t have to worry about paying yearly fees. This means that all of your cash back will remain in your account.
  • Citi takes card security very seriously. Your credit card company, Citi, will notify you immediately if there is any odd activity on your account, and you are not liable for any costs that result from fraudulent transactions. The Lost Wallet Service is a service provided by Citibank, which helps customers who lose their wallets. Citi will replace your card if you misplace it, usually within a day. Until your replacement credit card arrives, you have access to emergency funds.
  • Pre-sale event tickets and other benefits. With Citi Entertainment, you can enjoy exclusive access to tens of thousands of events, from fine dining to sporting events to live music.

Limitations of this card

  • The Citi Double Cash has excellent rewards earning potential, but there is no welcome bonus to be obtained.
  • On purchases, there is no introductory APR: This card provides a wonderful perk for balance transfers, but it doesn’t have the same perk for purchases. In the event that you do not pay off your debt in full each month, you will be charged the standard purchase APR.
  • The Citi Double Cash includes a 3 percent international transaction charge, so it’s not a suitable choice if you’re going to be traveling outside of the United States.

Potential earnings in years one and two

Here’s how your cashback with the Citi Double Cash Card may pile up. We utilized a point valuation of one cent for every reward received to generate these numbers. Keep in mind that this is an estimate. The true worth is decided by how much you spend and where you spend it. The first year’s earnings are $670. In the second year, earnings were $670.

Best ways to earn

The Citi Double Cash Card makes it simple to get cashback. Members may earn up to 2% cashback on all purchases: 1% when they buy and 1% when they pay, with no restriction on how much cashback they can earn. Citi Double Cash Cardholders get an unlimited 1% back on every dollar spent on anything. The remaining 1% is earned when you pay for your purchases.

To get cashback incentives, you must make a minimum payment. If you want to receive the most cash back, you should use this Citi card as your primary credit card. This might limit your earnings on other cards with more earning potential. For example, there are credit cards that provide 5% cashback on specified purchases, such as dining, petrol station, or grocery store purchases.

If you use the Citi Double Cash card as your everyday card, you may miss out if your spending in certain areas is considerable. If this is you, the Citi Double Cash is an excellent second card to have, especially if you already have a more specialized rewards card for certain categories of spending.

Maximizing your redemptions

Once your rewards balance reaches a minimum of $25, you can claim cashback rewards. Cashback incentives, on the other hand, might expire if you don’t make any purchases or payments for 12 months. With the Citi Double Cash Card, cardholders have four redemption options:

  • You will get paid.
  • Get a statement credit on your credit card account.
  • Receive at least twice a direct deposit credit on a connected Citi savings, Citi checking, or another checking account used to make Citi credit card payments.
  • Cashback incentives can be converted into Citi ThankYou points.

It may be easier to redeem incentives with a check or a credit on your bank account, but it may not be the most advantageous alternative. So, in essence, you’re turning your cashback points into vacation credits. For every $1 in cashback, you’ll receive 100 Citi ThankYou points.

The ThankYou points you earn may then be redeemed for gift cards, products, or even travel through the Citi site after they have been converted. To make things even better, if you have a Citibank travel rewards credit card, you may transfer your ThankYou points directly to more than a dozen Citi transfer partners, such as the Citi Prestige or Citi Premier card.

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