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Earning rewards with a credit card can be a great deal if you pay your credit card bill in full each month. If you use a cash back card for purchases and pay off your balance so you never pay a dime in interest, you’ll 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. For instance, the Citi® Double Cash Card is one of the best cash back cards available, mostly because it offers a generous flat rewards rate on all purchases. This card also includes an introductory offer for balance transfers, which can help those who want to use a credit card to consolidate debt.
If you’re looking for a cash back card you can easily love, the Citi Double Cash should be on your list. Read on to learn why one cardholder 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:
- Welcome bonus: None
- Rewards rate: 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
- Intro APR: 0 percent intro APR on balance transfers for 18 months (then a variable APR of 18.24 percent to 28.24 percent)
- Annual fee: $0
5 reasons to love the Citi Double Cash Card
Shanté Nicole Harris, financial educator and founder of Financial Common Cents, says she wound up with the Citi Double Cash Card 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 later upgraded her card to the Citi Double Cash. Once she got her new card, she was hooked on the rewards and perks. Here’s why.
1. Earning double the rewards with no caps
Harris says she loves the double cash back you earn with this card — an unlimited 1 percent as you buy and another 1 percent when you pay for your purchases — and that the same exceptional cash back rate applies to all of her purchases.
“The fact that you get cash rewards for making purchases and cash for making payments is astonishing,” Harris says. “I also love that there is no cap to how much you can earn.”
The amount you can earn with the Citi Double Cash depends on your spending. But the up to 2 percent cash back rate means you’ll earn $2 in rewards for every $100 you charge and pay off. If you use a credit card for everyday spending and bills, your rewards can add up fast.
2. No annual fee
In addition to a great flat cash back rate, the Citi Double Cash doesn’t charge an annual fee. That makes it a smart option for long-term use since you’ll never have to worry about earning enough rewards to make up for the yearly charge for card membership.
3. Citi Entertainment access
Harris likes that the Citi Double Cash comes with numerous benefits, including complimentary Citi Entertainment access. You can use this perk to buy presale tickets to events like concerts, sporting events, cultural events, dining experiences and more. You’ll also get access to exclusive cardholder experiences.
4. Flexible rewards options
Harris says she likes to redeem her cash back for statement credits to cover regular monthly bills. However, cardholders also have the option to redeem rewards for direct deposits, checks or Citi ThankYou points.
Note that the rewards earned with the Citi Double Cash can only be converted into basic Citi ThankYou points. However, these points come with a host of additional redemption options. For example, you can redeem basic ThankYou points for gift cards, travel through Citi, shopping at Amazon and more.
5. Generous introductory offer for balance transfers
Finally, the Citi Double Cash Card comes with a 0 percent intro APR on balance transfers for 18 months, after which you’ll pay a variable APR of 18.24 percent to 28.24 percent. A 3 percent balance transfer fee (minimum $5) applies for any balance transfers completed within four months after account opening. After that, a 5 percent balance transfer fee (minimum $5) applies.
Consolidating high-interest debt with this card can help you save big on interest over the course of a year and a half. If you need more time to pay off debt, there are other top balance transfer cards with longer zero-interest periods, but they may not offer rewards or a welcome bonus.
The bottom line
The Citi Double Cash Card doesn’t have a lot of downsides (other than a 3 percent foreign transaction fee). Ultimately, the Citi Double Cash Card is worth it for those who want to earn generous flat-rate rewards with flexible redemption options — all without paying an annual fee.