I use the Citi Double Cash card as a standard to compare other credit cards. It has no annual fee and earns 2% cash back on all purchases. If you’re not getting this much value from another card, you’re better off using the Double Cash.
While you can earn 3X to 5X points in certain categories with other Citi cards, having a card that earns a bonus for everyday spending is a good idea. That’s why a Citi Double Cash is good to keep in your wallet.
Here’s more about it…
Citi® Double Cash Card
The Citi Double Cash Card is exactly what it claims to be. A card that pays you back 2% on all purchases. Here are the details about the card:
Annual Fee
The Citi Double Cash has no annual fee
Sign-Up Benefits
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of your Citi Double Cash card account opening. This offer will be fulfilled as 20,000 ThankYou Points.
You will only qualify for the bonus offer if you have not received a bonus offer for opening a new Citi Double Cash Card in the past 48 months.
Card Benefits
The Double Cash card’s rebate structure is its gimmick. You receive 1% back when you make a purchase and another 1% back when you make the payment. Now, if you’re not making the full payment every month, you really shouldn’t be worried about credit card rewards and should instead work on paying down your debt first.
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Foreign Transaction Fees
The Citi Double Cash charges a 3% fee on foreign transactions, wiping out the 2% earnings you get with the card. You’d be better off using a card with no foreign transaction fees.
Reward Redemption
You can redeem your cashback from the card as a direct deposit, statement credit or check. There is no minimum redemption amount for direct deposit or statement credit.
You can transfer the points from the Double Cash to any of Citi’s travel partners if you have a Citi Strata Premier or Citi Prestige.
Reward Expiration
You must use your card once every 12 months, or your remaining points will expire. That’s not that hard of a limit to keep; just charge something once a year. This is a little different from other cards that let you keep your rewards active if you have the card, regardless of card activity.
Final Thoughts
I don’t have a Citi Double Cash card, as I can get more than 2% (two points per dollar spent) value from other cards. Combining bonus categories, like 3x points for travel purchases with the Chase Sapphire Reserve, with the ability to transfer points to hotel programs allowed me to book a room at the Hyatt Pinon Pointe in Sedona. For that hotel stay, I earned way more than 2% back.
However, I have several Citi cards, and one hole is for expenses that do not earn a category bonus. The Citi Double Cash would fill that gap.
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