Citi Double Cash Card: Pay off your balance to earn more money


The Citi® Double Cash Card is one of the most successful fixed rate credit cards on the market. However, unlike other refund cardsyou don’t earn all the rewards up front.

Here’s how it breaks down: you can earn up to 2% cash back on all your purchases with this card. You get 1% when you make the purchase and an additional 1% on the balance you pay off. Although you may find higher reimbursement rates on individual expense categories such as Restaurants, races and gas with other cards, the Citi Double Cash keeps things simple. You always know what you earn.

This card also has a balance transfer angle: With a fairly generous introductory APR of 18 months on balances transferred from other accounts, you can consolidate your debt and potentially save on interest payments.

With no annual fee and wide reach, this card is a great addition to any wallet, whether as an additional card or standalone. Below, we’ll go over the rewards program and balance transfer offer, along with other features. We’ll also suggest great substitutes if the Citi Double Cash doesn’t meet all of your wants and needs.

In this article

Introductory offerN / A

APR14.24% – 24.24% (Variable)

Recommended credit Excellent, good

Reward rate
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% when you pay for those purchases.

Annual fees$0

Intro Purchase APRN / A

Intro Balance Transfer APR0% introductory for 18 months on balance transfers

Balance Transfer Fee There is an introductory balance transfer fee of 3% of each transfer (minimum $5) made within the first 4 months of account opening. A balance transfer fee of 5% of each transfer (minimum $5) applies if made after 4 months of account opening.

APR balance transfer14.24% – 24.24% (Variable)

Late payment fees Up to $40

Foreign transaction fees 3%

APR Penalty Up to 29.99% (varies)

  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% when you pay for those purchases.

Cash back

You earn 1% cash back when you make a purchase and an additional 1% when you make payment – up to 2% cash back on all purchases.

There are no caps or spending limits with the cashback program, so you can keep earning indefinitely. However, you must have a minimum balance of $25 in cash back to be able to redeem it. Cash back is earned in the form of ThankYou® points, and one point equals 1 cent for all redemption options.

You can redeem the points you’ve earned as a statement credit, direct deposit, or check. Other options include redeeming your cash back for a gift card, travel, or purchases made through Shop With Points at Amazon.

Introductory APR on Balance Transfers

This is a good card to use to move the balance off a high interest credit card to tackle debt more effectively. You can enjoy 0% introductory APR on balance transfers for 18 months (14.24% to 24.24% variable APR thereafter). While it’s not the longest balance transfer period available on the market, this is quite generous.

Keep in mind that to use this offer you will need to complete the balance transfer within the first four months of opening the account. As a general rule, you should allow at least two weeks to ensure your balance is transferred on time – it’s better to have a little extra leeway if you run into delays than to miss the introductory APR.

The introductory balance transfer fee is 3% of the transaction amount, with a $5 minimum, which is industry standard. But if you wait after the first four months, that fee goes up to 5% ($5 minimum). There are alternative cards with no balance transfer feesbut these cards generally have shorter APR intro periods.

If you decide to use this card for a balance transfer, you’ll want to avoid making purchases until you’ve paid off your balance. Purchases made during the balance transfer promotion will accrue interest.

Other advantages

A lot Citi credit cards including the Double Cash Card have virtual card capacity, which allows you to shop online more securely. You can generate a virtual account number through your online account – a unique credit card number that you can use to make a purchase without disclosing your real account information to help prevent card fraud.

Your Citi Double Cash Card account also allows you to link your other Citi credit cards for the convenience of managing all of your cards from the same login.

Comparable cards

Wells Fargo Active Cash® Card

If you like the sound of 2% cash back on your purchases but don’t want to wait to pay off your balance to earn it all, Wells Fargo Active Cash might be a better option for you.

Introductory APR is shorter at 15 months from account opening, but you will get 0% intro APR on both purchases and qualifying balance transfers (variable APR will be 15.24% to 25.24% thereafter). So this card can be good if you are looking to finance a big purchase, also. Unlike the Citi Double Cash Card, you’ll get a welcome bonus with the Active Cash card: $200 in cash rewards when you spend $1,000 in the first three months.

For more details, check out our full review of the Active Wells Fargo payment card.

Capital One Quicksilver Cash Rewards Credit Card

Capital One Quicksilver Cash Rewards offers a similar range of benefits to the Wells Fargo Active Cash Card, but has a more accessible welcome bonus and lower redemption rate.

You only need to spend $500 in the first three months to get the $200 welcome bonus. But the refund rate on all purchases is 1.5%. You’ll also get 0% upfront APR on purchases and balance transfers for 15 months (15.24% to 25.24% on variable APR thereafter).

See our full review at Capital One Quicksilver Cash Rewards map for details.


How do cash-back credit cards work?

Cash back credit cards offer cardholders rewards on their spending in the form of credits or cash. A statement credit is a reduction of the amount owed to the credit card company on your monthly bill. Note that rewards aren’t always available the month you earn them — they’re usually applied to your balance by credit card issuers after one or two billing cycles.

The redemption process for cash-back credit cards is either automatic or very simple. Some cards automatically apply cash rewards to your statement balance each month. Others require you to log in and redeem available reward points for statement credits. Most points do not expire, but you will lose them if you close the account before redeeming them.

What types of cash-back credit cards are there?

Cash back credit cards generally fall into four main categories: flat rate, tiered, rotating, or choose your own.

Flat-rate cards offer the same rate for each purchase. Tiered cards offer a different rate of rewards for different spend categories. Rotating category cards offer different rewards each quarter, determined by the card issuer. Category cards to choose from allow you to choose your category of rewards.

How to choose a cash-back credit card?

To choose the best cash-back credit card for you, the most important thing is to have a clear idea of ​​how you are already spending money each month. Once you’ve identified the categories where you have the highest and most consistent spend, use the charts in our list to determine which card will earn you the highest return. Consider other card features too, such as APR, sign-on bonuses and foreign transaction fees – make sure you get something that fits your lifestyle and spending habits .

Your choice of credit card can also be affected by your credit score. Most of the cards we recommend require a good or excellent credit score, which is usually around 670 or higher. If you don’t meet the required credit criteria, there are credit cards specifically designed for those trying to rebuild their credit, such as secured credit cards. Alternatively, you can search for the best credit cards for no credit and the best credit cards for bad credit.

Our approach

We review the cards which are the most in demand and offer the best benefits. We go through the fine print so there are no surprises when you open an account. We find the key factors that make a card stand out and compare them with other top cards. This way, readers can opt for a different card with similar functionality if our choice doesn’t suit them. Our opinions are regularly checked and updated to incorporate new recommendations, as well as to reflect changes in offers and the market.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.


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