Citi Double Cash® Card Review 2024

The Citi Double Cash® Card, from our partner, earns a flat 2% cash back on all purchases (1% when a purchase is made and another 1% when it’s paid off) that makes it hard to beat, especially since there is no annual fee. Cardholders also get a competitive intro annual percentage rate (APR) for balance transfers—balance_transfer_intro_apr,balance_transfer_intro_duration , followed by reg_apr,reg_apr_type.

Citi Double Cash® Card

Credit score needed

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This combination of benefits morphs the Citi Double Cash® Card into a credit card consumers with debt can benefit from now and later on. Individuals with high-interest credit card debt can use the Citi Double Cash® Card for debt consolidation and work toward debt freedom over 18 months. After that, the Citi Double Cash® Card becomes an excellent tool for earning 2% cash back with no annual fee required.

TIME’s Take

Since the Citi Double Cash® Card offers a generous rewards rate for spending and an intro APR offer for balance transfers, it’s easy to see how this card can work well for two entirely different goals. Consumers who want to earn 2% cash back on all purchases without an annual fee can benefit if they pay off their balances each month to avoid interest charges. And people with high-interest debt on other cards can use the Citi Double Cash® Card to pay off that debt with zero interest over the introductory period. That helps solidify the Citi Double Cash® Card as a top balance transfer card.

In addition, the card has an balance_transfer_fees.

Pros & cons

Pros:

2% cash back on all purchases (1% when a purchase is made and another 1% when it’s paid off)
For a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
Intro APR offer for balance transfers
Intro balance transfer fee
No annual fee
$200 cash back rewards bonus

Cons:

No bonus rewards categories to maximize
No intro APR for purchases
Charges foreign transaction fees

Who is the card for?

The Citi Double Cash® Card is geared to applicants with fair to excellent credit who want to earn rewards for spending or consolidate high-interest debt so they can pay it down. The card also works well for consumers who want a balance transfer card right now that offers rewards and benefits later on, once they become debt free.

In terms of rewards, the Citi Double Cash® Card works well as a standalone cash back credit card or as a companion card alongside another rewards credit card that offers more than 2% back in bonus categories like dining out, travel, gas, or drugstores. If a consumer opts to have more than one rewards credit card, including the Citi Double Cash® Card, they could use other cards to maximize rewards on bonus category purchases then switch to the Citi Double Cash® Card for other spending to earn a minimum of 2% cash back.

Features

Cash back rewards for spending

One of the biggest benefits of this card is the fact it offers the same generous rewards rate on everything you buy —2% cash back on all purchases (1% when a purchase is made and another 1% when it’s paid off). To earn cash back you must pay at least the minimum due on time.

This lucrative earning rate is higher than most competing cards offer on regular purchases, and the lack of bonus categories or earning caps keeps the earning structure on the Citi Double Cash® Card incredibly simple and hassle-free.

Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.

Like many other cash back credit cards the Citi Double Cash® Card offers a welcome bonuses worth $200 new cardholders who meet a minimum spending threshold $1,500 on purchases in the first 6 months after signing up.

Time to pay down debt

The intro APR offer on the Citi Double Cash® Card is also worth pursuing on its own, even for consumers who only want to transfer balances without using the card for spending. The length of the intro offer combined with the introductory balance transfer fee makes the Citi Double Cash® Card competitive in a sea of other lucrative balance transfer offers.

Rewards flexibility

Also be aware that the cash back earned with this card comes in the form of Citi ThankYou points. These rewards points are very flexible and easy to use, so cardholders don’t have to worry about getting stuck with rewards points that are difficult to cash in.

Basic redemption options for the Citi Double Cash® Card include direct deposits into a checking or savings account, statement credits, or a check in the mail ($5 minimum required for a check). Rewards points can also be redeemed for gift cards, purchases through Amazon, or travel through Citi.

Users can even transfer their points to a handful of airline and hotel partners, albeit at an inferior transfer ratio compared to the Citi Premier® Card—Citi’s main travel credit card. Specifically, cardholders with the Citi Double Cash® Card can transfer their rewards points to Choice Privileges, JetBlue TrueBlue, and Wyndham Rewards.

The fine print

What interest rates and fees will you encounter with the Citi Double Cash® Card? Here’s a rundown of the fine print on this card.

Interest rates

Regular APR: reg_apr,reg_apr_type.
Intro APR: 0% intro APR on balance transfers for 18 months, followed by reg_apr,reg_apr_type. (for balance transfers completed within four months of account opening).
Cash advance APR: cash_advance_apr.
Penalty APR: Up to $29.99 (variable).

Fees

Annual fee: $0 (Rates & Fees).
Cash advance fee: cash_advance_fee.
Balance transfer fee: balance_transfer_fees
Foreign transaction fee: foreign_transaction_fee of each transaction in U.S. dollars.
Late payment fee: late_payment_fee
Returned payment fee: Up to $41.

Additional hidden perks

The Citi Double Cash® Card doesn’t have many notable benefits or features other than its rewards rate and intro APR offer for balance transfers. These are the few perks you do receive:

Citi Entertainment access: Citi cardholders can gain special access to tickets to thousands of events, including sporting events, dining experiences, concerts, and more. This benefit may include special access to presale tickets for sought after events.
Mastercard ID theft protection: This ID theft protection includes monitoring of your personal information and alerts if suspicious activity is found. Mastercard ID theft experts are also available to help resolve problems and restore credit after instances of fraud.

What could be improved

While the Citi Double Cash® Card comes with an exceptional rewards rate and a competitive intro APR offer for balance transfers, it’s worth noting that some cash back credit cards have solid earning rates and intro APRs that apply to both balance transfers and new spending. Choosing this type of card lets users avoid interest on new purchases and on debt transferred to the card at the same time, which can make sense for people who want a balance transfer card they can also feel comfortable using for purchases.

Also be aware that the Citi Double Cash® Card is geared to people who have fair to excellent credit already, so it’s not a good card for building credit from scratch or rebuilding credit after past mistakes. In those scenarios, consumers would be better off looking for a secured credit card or a credit card for fair credit.

Card alternatives

Bottom Line

While the intro APR offer for balance transfers is a great feature of the Citi Double Cash® Card, this money-saving benefit only lasts for 18 months. However, the card earns an unlimited 2% cash back on everything you buy from day one and for long after the intro period ends. This makes the Citi Double Cash® Card an excellent credit card to keep for the long haul.

Even so, it never hurts to compare the best credit card offers to find the right fit. The Citi Double Cash® Card could easily be the best card for you now and later on, but comparing it to a few other top cash back credit cards is the best way to know for sure.