Citi® Double Cash Card

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Recommended Credit Score

Excellent (740 - 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.

Annual Fee:
$0
Purchase Intro APR:
N/A
Balance Transfer Intro APR:
0% intro for 18 months on Balance Transfers
Regular APR:
13.99% – 23.99% (Variable)
Terms and Restrictions Apply

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The information about the Citi® Double Cash Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Citi® Double Cash Card: Details and benefits

The Citi® Double Cash Card is one of the only credit cards that reward you for paying off your purchases with additional cash back earnings. You receive an unlimited 1 percent cash back when you buy and an additional 1 percent as you pay for your purchases.

The Citi Double Cash doubles as a balance transfer credit card, offering a zero percent introductory APR on balance transfers for 18 months (13.99 percent — 23.99 percent variable APR thereafter). Similar to other balance transfer cards, you’ll owe a balance transfer fee of either $5 or 3 percent of the amount of each transfer (whichever is greater).

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

Advantages

  • Unlimited 1 percent as you buy, 1 percent as you pay cash back rewards structure
  • No annual fee
  • 18-month introductory zero percent APR on balance transfers (13.99 percent — 23.99 percent variable APR after)

Disadvantages

  • No introductory APR for purchases
  • Balance transfer fee of 3 percent of each transfer or $5, whichever is greater
  • 3 percent foreign transaction fee

Is the Citi® Double Cash Card worth it for you?

If you’re looking for a card that you don’t have to think too much about in order to gain value from it, the Citi Double Cash is a great choice. You won’t owe an annual fee each year, and the flat-rate cash back structure offers the flexibility to swipe the card wherever you please.

Those who need to pay off credit card debt will benefit from the Citi Double Cash’s zero percent APR on balance transfers for 18 months (13.99 percent — 23.99 percent variable APR after). Considering the card offers a solid cash back rewards structure and no annual fee, 18 months is pretty lengthy.

The card may also be a great option for those in need of accountability, seeing as you must pay at least the minimum due on time in order to receive an extra 1 percent cash back on your purchases.

Get the most value from the Citi® Double Cash Card

The key to maximizing the Citi Double Cash’s value is paying your balance; no matter what, make sure you pay off the card each month to earn the full 2 percent cash back value and keep any interest charges at bay.

Those interested in completing a balance transfer must do so within 4 months from account opening. If you fail to do so, you’ll lose the zero percent APR window and be charged the card’s variable interest rate.

As for security protections, the card offers $0 liability for unauthorized charges posted on your account, 24-hour fraud protection alerts and Citi® Identity Theft Solutions. Should your card be lost or stolen, Citi’s Lost Wallet® Service can help you replace it within 24 hours.

How much are the Citi® Double Cash Card rewards worth?

If you spend $500 a month with the Citi Double Cash (and make sure to pay it off), you’ll earn $120 worth of cash back by the end of your first 12 months of card ownership.

Should you fail to make at least your monthly minimum payment for those 12 months, you’ll only earn $60 in cash back for the year.

Balance transfer example

Say you transfer $4,000 to the Citi Double Cash (within the first 4 months from account opening). You’ll pay just under $223 a month for 18 months without owing additional money in interest, along with a balance transfer fee of $120.

How to redeem rewards

Cash back rewards earned with the Citi Double Cash can be redeemed for statement credit, direct deposit or check. They can also be converted to Citi ThankYou Points as of September 2019. You can learn more about how to redeem your Citi Double Cash rewards for ThankYouPoints, here.