Key takeaways

  • The Citi Double Cash® Card is an excellent flat-rate rewards card that can earn you 2 percent cash back on all purchases — 1 percent when you make a purchase and 1 percent when you pay it off, with no categories to keep track of.
  • If you have high-interest debt, the card’s 0 percent intro APR offer on balance transfers for 18 months (variable APR of 19.24 percent to 29.24 percent after) can help you consolidate debt and save money on interest.
  • To maximize your card, first understand your financial goals — either to earn straightforward rewards on your spending or consolidating and paying down high-interest debt — to avoid taking on new debt your budget may not be positioned to pay off.

When it comes to earning credit card points, you should understand the different types of rewards credit cards to find the right fit. Some people benefit the most from rewards credit cards that offer different bonus categories, or from travel credit cards that let them earn points good for airfare, hotels and other travel bookings. However, there are also cash back credit cards to consider, including ones that let you earn a flat rate of rewards for each dollar you spend.

The Citi Double Cash® Card* is among the top rewards credit cards in the latter category due to its flat earning rate, yet this card is also popular for consumers who need to consolidate and pay down high-interest debt.

If you want to earn the highest flat rate of cash back you possibly can, or if you need to pay down debt, the Citi Double Cash should be at the top of your list. Read on to learn about the main details of this offer, including the benefits you’ll get if you sign up and if this card is worth it for you.

Citi Double Cash Card benefits

Flat cash back rewards

Cardholders who sign up for the Citi Double Cash get the chance to earn a total of 2 percent cash back for each dollar they spend — 1 percent back when a purchase is made and another 1 percent when it is paid off. The Citi Double Cash doesn’t charge an annual fee, and there are no limits to the rewards you can earn.

Separately, this card also gives you an introductory 0 percent intro APR on balance transfers for 18 months, followed by a variable APR of 19.24 percent to 29.24 percent based on your creditworthiness. This perk doesn’t necessarily combine well with the rewards aspect of this card, but you can use it to consolidate and pay down high-interest debt from other cards and save money along the way.

0 percent intro APR balance transfer

The Double Cash’s intro APR offer only applies to balance transfers, and not purchases. With that in mind, you should know that purchases you make with your card will accrue interest at the regular variable APR if you carry a balance from month to month.

If you plan to use this card’s intro APR offer to consolidate debt, we suggest not using your card for purchases while you pay off old balances. This will allow you to focus on debt repayment without being enticed by rewards and racking up new balances you can’t afford to pay off.

Balance transfer example

How much money can you save if you transfer a balance to the Citi Double Cash? This all depends on the specifics of your situation. But let’s consider an example.

Let’s say you owe $6,500 in credit card debt at a current APR of 21 percent. You’ve calculated that you can afford to pay $375 a month toward your balance. And at that rate, you could become debt-free in 21 months — although you would pay $1,313 in interest along the way.

If you transferred the $6,500 balance to the Citi Double Cash, you would pay a 3 percent (minimum $5) intro balance transfer fee if completed after four months of account opening. This means you would begin debt repayment with a balance of $6,695. With the same $375 monthly payment, however, you could pay off the entire balance in about 18 months with $0 in interest charges — saving you more than $1,100.

Other protections and benefits

The Citi Double Cash doesn’t have many consumer protections or perks, but there are a few to be aware of. Consider the following benefits and how you might use them when gauging the total value of this offer.

Lost wallet service

If your wallet is lost or stolen, Citi will replace your credit card in a short period of time, usually within 24 hours. Citi can also provide you with emergency cash to spend, provided you have cash advance availability within your credit limit.

Citi Entertainment

The Citi Double Cash can help you gain access to special presale tickets and events that may not be open to the general public. Events available within Citi Entertainment can include concerts, sporting events, culinary experiences and more.

Flexible redemption options

While the Citi Double Cash is a cash back credit card at heart, you have several different options when it comes to redeeming your rewards.

  • Cash back or statement credit. You can request a check in the mail for your rewards once your rewards balance is at least $25. You can also request a statement credit to your card when your rewards balance is at least $25, or ask for a credit to a linked Citi checking or savings account (as long as you have used that account to pay your Citi credit card bill at least twice).
  • Convert your rewards to Citi ThankYou points. If you have another Citi credit card that earns Citi ThankYou points (or just want to have more options for redeeming your rewards), you can also convert rewards earned with the Citi Double Cash to Citi ThankYou points. You’ll need a minimum of $1 in rewards to make this conversion.

Maximizing the Citi Double Cash Card

If you are thinking of signing up for the Citi Double Cash, we suggest figuring out your goals first. Here are the two strategies to consider once you’re a card member.

Earn rewards on all your purchases

The Citi Double Cash lets you earn one of the best flat rates among all cash back credit cards, and you don’t have to keep track of bonus categories or limits. Use your card for all your spending and regular bills and earn a total of 2 percent cash back for each dollar you spend — 1 percent when you make a purchase and another 1 percent when you pay it off.

Consolidate and pay down high-interest debt

Instead of focusing on rewards, you can use the Citi Double Cash to consolidate and pay down high-interest debt. We suggest transferring as much high-interest debt to this card as you can, then figuring out how to pay off as much as you can within the 18-month introductory period. Remember that any remaining balances you have will begin accruing interest at the regular variable APR after your offer ends.

The bottom line

This guide explains the main perks you can get as a cardholder and the strategies you can use to make the most of this offer. Even so, you should take the time to compare Citi Double Cash Card’s benefits with the perks you get from other rewards credit cards.

If you can’t decide on a single rewards credit card for your wallet, you can also pair up a few cards with different rewards structures and perks. Be sure to research the top credit card combinations before you decide.