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Last updated on November 12th, 2021
Citi® Double Cash Card
Earn 2% Cash Back on All Purchases
- Regular Purchase APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Cash Advance APR 25.24% variable based on the Prime Rate
- Annual Fee None
- Credit Needed Excellent , Good
- Processing Network Mastercard
- Get 0% Intro APR for 18 months on balance transfers. After that, the variable APR will be 13.99% - 23.99%, based on your creditworthiness
- 2% Cash Back: Earn 1% when you buy and 1% as you pay
- No Caps and No Category Restrictions
- No annual fee
- Regular Purchase APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 18 months on transfers made within 4 months from account opening date
- Balance Transfer APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty APR: Up to 29.99% variable based on the Prime Rate
- Foreign Transaction Fee: 3% of each purchase transaction in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
Offer Details
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At a Glance
The Citi® Double Cash Card is a cash back credit card with a unique twist. Cardholders earn 2% back on every eligible purchase: 1% back at the time of sale and an additional 1% back when they pay their balance. Cash back is redeemable for statement credits, direct deposits, checks, or converted as ThankYou points. The card also comes with 0% intro APR for 18 months on balance transfers completed within the first four months of opening an account. There is no annual fee.
Ideal for Those Who:
- Prefer earning cash back at a flat rate rather than in rotating categories
- Are looking to either consolidate existing balances or pay down existing card balances
- Like the flexibility to convert cash back into lucrative reward points
- Don’t want to pay an annual fee
Citi Double Cash Card Review
The Citi Double Cash Card is a cash back rewards credit card that gives you the satisfaction of earning cash back – twice! The card, from Citibank, earns an unlimited 1% cash back on every dollar spent on purchases, plus an additional 1% back when you pay for the purchase.
How to Earn Cash Back
Every purchase with the Citibank Double Cash Back Card earns 2% back in total. This 2% back works out as follows: 1% back when you make an eligible purchase with the card, and an additional 1% back when you make the minimum statement balance payment each month. There is no limit to the amount of cash back earned. As with any cash back credit card that claims rewards are unlimited, there are restrictions as to the types of transactions that qualify for the double cash back. These transactions include:
Balance transfers
Cash advances
Card account checks
Returns for credit
Unauthorized or fraudulent transactions
Traveler’s cheques or foreign currency purchases
Money orders or wire transfers
Lottery tickets
Reloading of a prepaid debit or gift cards
Citi products, such as Citi Flex Loans or Citi Flex Pays
Card fees, late fees, or finance charges
Flat-Rate Cash Back Vs. Revolving Categories
The Citibank Double Cash Back Card is a flat-rate cash back card, much like the Chase Freedom Unlimited Card or the American Express Cash Magnet Card. These cards offer a basic rate for all purchases, which in the case of the two cards mentioned, is 1.5% back.
While the Double Cash Card earns 2% back, this is still less than cards with rotating categories, such as the Discover It Cash Back or the Chase Freedom Card. These cards earn 5% back on select categories that rotate every quarter and 1% back on everything else. For those who are very budget savvy and like to plan all their purchases ahead of time, a cash back card that offers enhanced earnings in select categories each quarter may be preferable.
For everyone else, however, the ability to earn a higher flat rate than these rotating category cards with every purchase is superior – especially if your purchase habits don’t sync with the 5% categories. In this regard, the Citi® Double Cash Card is an enticing option when compared to cards like the Chase Freedom Unlimited, as it effectively earns 2% back, rather than 1.5%. The only requirement for earning 2% back is making timely payments, which is something most people are likely to observe anyways.
How to Redeem
Citi offers several ways for cardmembers to use their cash back rewards. These options include statement credits, direct deposits, or as a check. Cardholders can also choose to convert their cash back towards Citi ThankYou points. Citi ThankYou Points are the currency of the Citi ThankYou Rewards Program, with an estimated value of one cent ($0.01/point). ThankYou points are applicable towards a wide variety of redemptions, including:
- Gift cards
- Merchandise through participating retailers
- Travel
- Charity
- Citi loan payments (mortgages, student loans, etc.)
Citi Perks and Protections
The Double Cash Card comes with an impressive collection of perks and security features courtesy of Citi. These include:
- Citi Entertainment: Citi provides cardholders with exclusive access to exclusive events and ticket presales for the hottest concerts, sporting events, and more.
- Citi Lost Wallet: Citi’s Lost Wallet service provides emergency card replacement, as well as emergency cash, should your card be lost or stolen.
- Citi Identity Theft Solutions: Citi provides comprehensive support in the event of identity theft and offers expedited service to help get your life back on track should you fall victim.
Everything Else You Need to Know
Beyond cash back earning and Citi perks, what else is there to know about the Citi Double Cash? Well, for starters, the card features no annual fee, which is always welcome news. Equally pleasant is the 0% intro APR for the first 18 months on balance transfers when they transfer completed within the first four months of opening an account. Eighteen months to pay down existing credit card balances and debt is an excellent feature and one that is made even better by the lack of an annual fee. This means you can take your time paying down your existing balances – all while earning cash back at a higher rate than many other comparable credit cards.
