Citi® Double Cash Card

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Kendall Little @kendallnlittle  in  Cash Back Advertiser Disclosure
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Recommended Credit Score

Good to Excellent (670 - 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

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Best flat-rate cash back card

Annual Fee:
$0
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
0% for 18 months on Balance Transfers*
Regular APR:
15.99% - 25.99% (Variable)
Terms and Restrictions Apply

Bankrate Rating

Commonly used for: Balance Transfer, Cash Back, Dining, Editor's Pick, EMV, Excellent Credit, Free Credit Score, Grocery, Mobile Pay Ready, No Annual Fee, Popular, Presale Tickets, Rewards, Unsecured credit card.

Score Breakdown

Bankrate Rating

Perks
Rewards
Annual Fee
Intro Bonus
Variable APR
Foreign Transaction Fee

Partner Offer

If you’re searching for a simple cash back card that offers great value on your everyday spending, look no further than the Citi Double Cash Card. With no annual fee, a flat cash-back rate and straightforward redemptions, this card can make for a great addition to your portfolio of cards or as an introduction to cash back rewards.

Here are the details:

The highlight of this card is its simplicity. The Citi Double Cash earns a flat 2% cash back rate on every purchase—1% as you spend and 1% as you make payments on your card. There are no categories or points structures to track and the total amount of cash back you can earn has no cap. That makes this one of the highest-earning cards in the cash back category.

You won’t earn cash back on balance transfers, but you can take advantage of the card’s 18 month 0% introductory APR, which charges a fee of $5 or 3% of the balance, whichever is higher. After the introductory period, the balance transfer APR becomes a variable 15.99%-25.99%.

If you travel outside the U.S., you should make sure you have another card for backup, as the Citi Double Cash charges a 3% foreign transaction fee.

Should you get this card?

If you’re looking for a card that you don’t have to think too much about in order to gain value from it, this is a great choice.

Whether you’re dipping your toes into credit card rewards and want something easy-to-use or you’re looking for a catch-all addition to your travel and category-based points cards, the Citi Double Cash is a safe bet. Its 2% cash back rate (1% when you buy and 1% as you pay for those purchases) is nearly unbeatable when combined with the flexibility of unlimited flat cash back.

If you carry a balance month-to-month, though, you may not see the full value of this card. You can still earn cash back on minimum payments, but you’ll also incur interest at a variable 15.99%-25.99% rate, based on your creditworthiness, that far outweighs the 1% cash back.

This is also a good option if your credit score hasn’t quite made it to “excellent” but you’re within the “good” range between 670 and 739, as you may still qualify for this card.

Advantages
  • Unlimited 1% as you buy, 1% as you pay cash back rewards structure
  • No annual fee
  • Introductory 0% APR for 18 months on balance transfers (then 15.99% - 25.99% variable)
  • No categories to track, no caps on cash back
Disadvantages
  • No introductory APR for purchases
  • Variable penalty APR of up to 29.99% if you pay late or payment is returned
  • The balance transfer fee is 3% or $5, whichever is greater
  • In order to receive the full 2% cash back value, you must pay your balance in full each month
  • The foreign transaction fee is 3%

How much are the rewards worth?

The card’s unlimited 2% cash back rewards rate (1% as you buy, 1% as you pay) is its best feature, but the Citi Double Cash is also useful for balance transfers.

You can enjoy an introductory 0% APR on balance transfers for 18 months (after which it becomes a variable 15.99%-25.99%) with a 3% balance transfer fee. If you held the average American credit card balance at $6,354, you could pay off the balance and fees in full over the introductory period by making $363.59 monthly payments, which include the $190.62 in transfer fees.

Since your cash back is redeemed only through statement credit or check, redemption values are straightforward. You don’t have to pair it with another Citi card to earn its full value; simply pay your balance in full each month to earn the full 2% cash back.

This card makes for a great primary rewards credit card that you can supplement with additional travel rewards cards or cards with higher-earning rates in categories where you spend often, like dining or gas.

How to get the most value from this card:

This card can serve as your go-to for everyday spending like groceries, utilities and trips to the mall. Use it for everything that doesn’t fall into those categories in which you may have another, higher-earning rewards card, like travel.

After you’ve paid for your purchases with this card, though, the key to maximizing its value is paying your balance in full. The 1% cash back you’ll earn when making purchases is just a fraction of the card’s high variable interest rate. Make sure you pay off the card each month to earn the full 2% cash back value and keep interest charges at bay.

Bottom line

This no-frills cash-back card has a great rewards rate and no annual fee. If you pay your balance in full each month and you’re looking for a simple way to earn cash-back, Citi Double Cash is a great card to add to your wallet.