Earning rewards with a credit card can be a great deal if you’re someone who pays your credit card bill in full each month. By using a cash back credit card for purchases and paying off your balance so you never pay a dime in interest, you get the closest thing to “free money” most people can find these days.
Still, some rewards cards are better than others due to their rewards rates, introductory offers, perks and fees. The Citi® Double Cash Card is one of the better flat-rate options out there, and mostly because it offers such a generous rewards rate. This card also checks off other boxes for consumers, including those who want to use a credit card to consolidate debt.
If you’re looking for a cash back credit card you can easily love, the Citi Double Cash should be on your list. Read on to learn why one user fell in love with this card, how she makes the most of its benefits and how you can do the same.
Citi Double Cash Card details
As a reminder, here are the main details of the Citi Double Cash Card:
- Earn up to 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.
- You’ll pay 0 percent intro APR on balance transfers for 18 months, followed by a variable APR of 14.24 percent to 24.24 percent.
- No annual fee comes with this card.
- It comes with Citi Entertainment benefits.
5 reasons to love the Citi Double Cash
Financial educator Shanté Nicole of Financial Common Cents says she wound up with the Citi Double Cash a few years ago. She originally had the Citi® Diamond Preferred® Card, which she used to consolidate and pay down debt thanks to the card’s zero-interest offer. However, Citi upgraded her to the Citi Double Cash Card at some point along the way.
Once she got her new card, she was hooked on the rewards and perks. Here’s why…
Earning double the rewards with no caps
First off, Shanté Nicole says she absolutely loved the double cash back you earn with this card (an unlimited 1 percent as you buy, plus another 1 percent when you pay for your purchases), and that the same exceptional rate applies to all her purchases.
“The fact that you get cash rewards for making purchases and cash for making payments is astonishing,” she says. “I also love that there is no cap to how much you can earn.”
Speaking of that, how much in rewards can you earn with the Citi Double Cash Card? That depends on your spending, but the up to 2 percent cash back rate translates into $2 in rewards for every $100 in purchases you charge. If you use plastic for everyday spending and bills, rewards earned with this card can add up fast.
No annual fee
Also, note that the Citi Double Cash Card doesn’t charge an annual fee. The fact there’s no annual fee makes this card a smart option for long-term use since you never have to worry about the yearly charge.
Citi Entertainment access
Shanté Nicole also points out that this card comes with a handful of Citi Double Cash benefits, including Citi Entertainment access. According to Citi, you can use this perk to buy tickets to thousands of events, including “exclusive experiences for the year’s most anticipated concerts, sporting events, dining experiences and more.”
Best of all, this benefit is complimentary for customers.
Flexible rewards options
When it comes to using her rewards, Shanté Nicole says she redeems her cash back for statement credits to cover regular monthly bills.
However, cardholders also have the option to redeem rewards for a direct deposit or check in the mail.
Separately, cardholders have the option to convert rewards earned with the Citi Double Cash Card into basic Citi ThankYou points, which come with a whole host of additional options. For example, you can redeem these points for gift cards, travel through Citi or payments toward a student loan or a mortgage.
Generous introductory offer for balance transfers
Finally, it’s worth noting that the Citi Double Cash Card has its own intro offer for balance transfers. Specifically, this card comes with a 0 percent intro APR on balance transfers for 18 months, after which you’ll pay a variable APR of 14.24 percent to 24.24 percent.
While a 3 percent balance transfer fee (minimum $5) applies for the first four months after account opening (with a 5 percent balance transfer fee thereafter), consolidating high-interest debt with this card can help you save big on interest over the course of a year and a half.
The bottom line
The Citi Double Cash Card doesn’t have a lot of downsides (other than the fact that it charges a foreign transaction fee of 3 percent of each purchase made outside of the United States). Also, note that when it comes to debt consolidation, there are other balance transfer credit cards that offer longer zero-interest periods.
At the end of the day, the Citi Double Cash Card is worth it for people who want to earn generous flat-rate rewards with flexible redemption options. The fact there’s no annual fee and a plethora of ways to use the rewards makes it even more attractive.