Citi Double Cash Features High Cash Back With No Fee
Recently we reviewed the Top Cash Back Credit Cards for 2020. Coming in at the top spot as the number one overall cash back card was the Citi Double Cash Credit Card. There are many reasons this card earned the number spot in the cash back category. Here we will take an in depth look in to this credit card and how to apply for the Double Cash Card. To begin, highlights of this credit card include:
- 1% Cash Back for all purchases
- 1% Cash Back when paying your balance
- Combined 2% back for purchases and payment
- 0% Balance Transfer offer for 18 months
- Late Fee Pass (first late payment fee waived)
- Sync your card with Apple Pay
- 15.74% – 25.74% Variable APR
- Zero annual fee
Citi Double Cash – Features and Benefits
As mentioned above, the best feature of the Double Cash Card is the 2% cash back. This applies to all purchases and there are zero categories to keep track off. There are very few cards that offer this level of cash back. For a zero annual fee card, this is all but unheard of. The Double Cash Card is going to be a great option for a consumer who is looking for a simple cash back credit card.
Another great feature provided with this card is the balance transfer opportunity. Cardholders will receive 0% interest on balance transfers made within the first 4 months of opening a new account. There will be a balance transfer fee of 3%. A competing card in balance transfer space would be the Chase Slate Card. This card also provides an 18 month balance transfer offer at 0% APR. One big plus is that The Chase Slate Card does not charge an balance transfer fee. However, the Slate Card does not provide rewards. For this reason, many consumers are going to find the Double Cash Transfer Offer to be among the top balance transfer cards as well.
Cardholders will also have access to Citi Private Pass. This complimentary service provides cardholders access to VIP services for tons of entertainment options. Another great feature of this card is late fee forgiveness. Double Cash cardholders will get one credit card late fee pass with their card. This means that your first late payment will not result in a late fee charge to your account.
Other features of this card include popular Citi benefits such as $0 Fraud Liability, Lost Wallet Service, and Citi Concierge. You can review even more information on Citi Credit Card benefits to learn about the details provided by these services.
Not Looking For a Cash Back Card? Check out these travel reward cards for more options!
- The United Airlines Explorer Card
- Citi Prestige Premium Rewards Card
- JetBlue MasterCard
- American Express Green Card
- Top Credit Cards For Fair Credit
Citi Apply Now Double Cash Invitation Offers
If you have received an offer by mail or email to apply for the Citi Double Cash Card it means that you were pre-selected to apply. Consumers interested in accepting this offer can apply online at the Apply Now Double Cash Invitation Page. To apply you will need to complete the following form to access your application:
As you can see, the only information needed to access your application offer is your invitation code and your last name. Once you enter this information you will be transferred to your application. Pre-approval does not guarantee approval for the card and you will need to complete the full application to be considered. Application decisions are typically made right away.
If you have not received a pre-selected offer to apply for this credit card you can still apply through the Citi Double Cash website. Card rewards will be identical whether you are applying through an invitation offer or through the Citi Double Cash Application Page.
Redeeming Cash With The Citi Double Cash Card
As you use your card and make payments you will earn cash back with your card. Logging in to your Citi Double Cash Account will show you your current cash reward balance. Cardholders can redeem their cash in one of two ways. First, customers have the option to simply apply their cash rewards directly to their balance. The amount you select will be applied to your current credit card balance. Alternatively, cardholders can also request a check to redeem their cash. In this case, you will be paid directly for the money earned on your card.
One important note is that you will not earn 1% back when you pay your credit card using the statement balance redemption method. This will have very little impact on your earnings but it is worth noting that cash reward redemption will not qualify for the 1% back when making payments.
Drawbacks To The Citi Double Cash Card
While the Double Cash Card has some great features it unfortunately is not a perfect credit card. The most obvious downside to this card is the lack of a new cardholder sign up bonus. Many similar credit cards offer new customer bonuses contingent upon spending requirements. Unfortunately this card currently does not offer any bonus for new customers. If you are interested in a cash back card with a new customers sign up bonus you can check out our review on the Chase Freedom Unlimited Card. This card offers up to $225 for new customers but keep in mind it does have a lower 1.5% cash back reward rate.
Another downside of this credit card is that it charges a foreign transaction fee of 3% when used abroad. However, this is not a travel credit card so most similar cards will also charge a foreign transaction fee. Customers will also need to be aware that there is a minimum redemption rate of $25. Your reward cash will not be accessible until you meet this threshold. Reward dollars with the Double Cash Card also have an expiration date. If you do not use your card for 12 months your reward cash will expire. For this reason customers should be sure to use their card regularly to avoid losing their cash.
One final downside to this credit card is that it does not provide any bonus categories. For some consumers this is actually going to be a huge positive. Not having to keep track of the card you use based on your spending habits can be a huge plus. With this said, if you often spend in select categories, there may be other cards that provide a better cash return rate.
Final Thoughts – Citi Double Cash Card
Overall, The Citi Double Cash Card is a top choice for cash back credit cards. If you are looking for a simple rewards card with no need to track categories, this is a tough card to beat. Very few zero annual fee cards compete with the earnings rates of the Double Cash. The only big downside is the lack of a sign up bonus. Keep in mind that in the long run, consumers who regularly use this card will benefit more from the increased reward rate than missing out on a new customer bonus. Are you a Double Cash Fan? Let us know what your favorite cash back credit card is in the comments below!