Citi Double Cash Card: Pay Your Balance Down to Earn More Cash Back

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The Citi® Double Cash Card is one of the highest performing flat rate credit cards on the market. However, unlike others refund cardsyou do not earn all rewards in advance.

Here’s how it works: You can earn up to 2% cash back on all your purchases with this card. You receive 1% when you make a purchase and another 1% on the balance you pay. Although you may find higher refund rates in individual expense categories such as restaurants, edible e gas with other cards, Citi Double Cash simplifies things. You always know what you earn.

This card also has a balance transfer angle: with a fairly generous introductory APR on balances transferred from other accounts, you can consolidate your debt and potentially save on interest payments.

With no annual fee and a wide range, this card is a great addition to any wallet, whether as a complementary or standalone card. We’ll review the rewards program and balance transfer offer below, as well as some other features. We’ll also suggest some great replacements if Citi Double Cash doesn’t meet all of your desires and needs.

In this article

Intro offerN / A

APR14.24% – 24.24% (variable)

Recommended credit Excellent, good

Reward rates

  • Earn 2% on every purchase with an unlimited 1% refund when you buy, plus an additional 1% when you pay for those purchases.

Annual fee$ 0

Initial purchase APRN / A

Input Balance Transfer APR0% presentation for 18 months on balance transfers

Balance transfer rate There is an introductory balance transfer fee of 3% of each transfer (minimum $ 5) completed within the first 4 months of account opening. A balance transfer rate of 5% of each transfer (minimum $ 5) applies if completed after 4 months from account opening.

Balance transfer APR14.24% – 24.24% (variable)

Late payment rate Up to $ 40

Foreign transaction fees 3%

APR penalty Up to 29.99% (variable)

  • Earn 2% on every purchase with an unlimited 1% refund when you buy, plus an additional 1% when you pay for those purchases.

Reimbursement rewards

You earn a 1% cash refund when you make a purchase and another 1% when you make a payment, up to a 2% refund on all purchases.

There are no limits or spending limits with the refund program, so you can keep earning indefinitely. You can redeem points earned as credit, direct deposit, or check. For each of these options, one point is worth 1 cent.

Other options include a refund for a gift card, travel, or purchases made through Shop With Points on Amazon. Point values ​​may vary between these swap options.

Introductory APR on balance transfers

This is a good card to use to move a balance from a high interest credit card to deal with debt more effectively. You can take advantage of the introductory APR of 0% on balance transfers for 18 months (from then on, the APR varies from 14.24% to 24.24%). Although it is not the longer balance transfer period available in the market, is quite generous.

Please note that to use this offer, you will need to complete the balance transfer within the first four months of opening your account. In general, you should wait at least two weeks to make sure your balance is transferred on time; it is better to have a little extra margin if you experience delays than to miss the introductory APR.

The introductory balance transfer rate is 3% of the transaction amount, with a minimum of $ 5, which is industry standard. But if you wait until after the initial four months, that rate increases to 5% ($ 5 minimum). There are alternative cards with no balance transfer feesbut these cards usually have shorter intro TAE periods.

If you decide to use this card for balance transfer, you will want to avoid making purchases until you pay the balance. Purchases made during the balance transfer promotion will accrue interest.

Other advantages

Many Citi credit cards including the Double Cash Card you have virtual card capability, which helps you shop more securely online. You can generate a virtual account number through your online account, a unique credit card number that you can use to make a purchase without disclosing your real account information to prevent card fraud.

Your Citi Double Cash Card account also allows you to link your other Citi credit cards so that you can manage your cards from the same login.

Comparable cards

Wells Fargo Active Cash® Card

If you like the sound of 2% cash rewards on your purchases, but don’t want to wait to pay your balance to win it all, Wells Fargo Active Cash may be a better option for you.

The introductory APR is shorter 15 months after the account is opened, but you get it 0% introductory APR on both purchases and equally qualified balance transfers (variable APR will be 15.74%, 20.74% or 25.74% later). So this card can be good if you want it finance a large purchase, also. Unlike the Citi Double Cash Card, you’ll get a welcome bonus with your Active Cash Card – $ 200 cash rewards when you spend $ 1,000 in the first three months.

For more details, see our full review of Wells Fargo Active Cash Card.

Capital One Quicksilver Cash Rewards Credit Card

Capital One Quicksilver Cash Rewards offers a variety of benefits similar to the Wells Fargo Active Cash Card, but has a more affordable welcome bonus and a lower return rate.

Just spend $ 500 in the first three months to get the $ 200 welcome bonus. But the refund rate on all purchases is 1.5%. You will also get a 0% introductory APR on purchases and balance transfers for 15 months (after 15.24% to 25.24% variable APR).

See our full review of the Capital One Quicksilver Cash Rewards card for more details.

Frequently asked questions

How Do Repayment Credit Cards Work?

Credit cards with cash back offer holders rewards for their expenses in the form of credit statements or cash. A credit statement is a reduction in the amount due to the credit card company on its monthly bill. Keep in mind that rewards aren’t always available the month you earn them; They are usually applied to your balance by credit card issuers after one or two billing cycles.

The process of rescuing credit card repayments is automatic or very simple. Some cards automatically apply cash rewards to your statement balance each month. Others require you to sign in and exchange available reward points for excerpt credits. Most points do not expire, but you will lose them if you close the account before exchanging them.

What types of cash back credit cards are there?

Cash-reimbursed credit cards are generally divided into four main categories: flat rate, staggered, revolving, or your own.

Flat rate cards offer the same rate for each purchase. Tiered cards offer a different reward rate for different spending categories. Revolving category cards offer different rewards each quarter, determined by the card issuer. Choose your own category cards allow you to choose your reward category.

How do you choose a credit card with a refund?

To choose the best money back credit card for you, the most important thing is to have a clear idea of ​​how you spend your money each month. Once you’ve identified the categories in which you have the highest and most consistent spending, use the charts in our list to determine which card gets the most performance. Also consider other card features, such as APRs, sign-in bonuses, and foreign transaction fees; make sure you get something that fits your lifestyle and spending habits.

Your credit card choice may also be affected by your credit score. Most of the cards we recommend require a good or excellent credit score, which is typically around 670 or higher. If you do not meet the required credit criteria, there are specific credit cards available for those trying to recover credit, such as secured credit cards. Alternatively, you can look for the best credit cards without credit and the best credit cards for bad credit.

Our approach

We review the tabs which are in higher demand and offer the best benefits. We review the fine print so that there are no surprises when opening an account. We find the key factors that make a card stand out and compare them to other major cards. This way, readers can opt for a different card with similar features if our choice is not right for them. Our opinions are regularly reviewed and updated to incorporate new recommendations as well as to reflect changes in offers and the market.

The editorial content of this page is based solely on objective and independent reviews of our writers and is not influenced by advertising or associations. It was not provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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