The Citi Double Cash® Card is one of the most popular cash-back credit cards in the market, thanks to its straightforward rewards structure, excellent earning potential, and low-maintenance approach. Whether you’re new to credit cards or a seasoned user looking for a reliable cash-back option, this card offers significant benefits. In this comprehensive guide, we will explore the key features of the Citi Double Cash® Card, how it works, its pros and cons, and how you can apply for one.
Key Features of the Citi Double Cash® Card
The Citi Double Cash® Card stands out primarily due to its simple yet lucrative rewards program. Here’s an overview of the most important features:
1. Cash Back Rewards Structure
One of the primary reasons for the Citi Double Cash® Card’s popularity is its rewards structure. This card allows you to earn cash back in two ways:
- 1% cash back on all purchases: You earn 1% cash back every time you make a purchase with your card, regardless of the category.
- 1% cash back when you pay for purchases: On top of the 1% you earn when you buy something, you earn another 1% when you pay off your balance. This means that, in total, you can earn 2% cash back on all purchases—one of the highest return rates available without worrying about rotating categories or bonus categories.
This makes the Citi Double Cash® Card an excellent option for people who want to earn cash back on everything, without having to track specific categories or promotional periods.
2. No Annual Fee
The Citi Double Cash® Card comes with no annual fee, making it a great choice for those looking to earn cash back without the extra cost of a membership. Many cards with similar rewards structures can have annual fees, so the fact that Citi offers this card without such fees makes it even more appealing.
3. Introductory 0% APR for Purchases and Balance Transfers
For those planning big purchases or looking to transfer a balance from a high-interest credit card, the Citi Double Cash® Card offers an introductory 0% APR on purchases and balance transfers for the first 18 months (after which a variable APR applies). This gives you the opportunity to finance large purchases or pay off existing debt without paying interest for up to a year and a half.
4. Cash Back Redemption
With the Citi Double Cash® Card, your rewards are redeemable for a variety of options:
- Statement credit: Apply your cash back directly to your credit card balance.
- Direct deposit: Transfer your cash back into your bank account.
- Check: Request a check for your cash back.
- Gift cards: Use your cash back to purchase gift cards from popular retailers.
You can redeem your cash back in increments as small as $25, making it a flexible option for those who prefer to redeem in smaller amounts.
5. No Categories to Track
Unlike some other cash-back cards, the Citi Double Cash® Card doesn’t require you to track rotating categories or sign up for special bonuses. The 2% cash back applies to all purchases, no matter where or when you shop. This makes it an ideal card for people who want a set-it-and-forget-it card that offers consistent rewards without any extra effort.
6. Citi® Easy Deals
Citi Double Cash® Cardholders can take advantage of Citi Easy Deals, which provide exclusive discounts on various products and services. By using the Citi Double Cash® Card with these offers, you can earn additional savings on top of your regular rewards.
7. Access to Citi Concierge Service
As a Citi Double Cash® Cardholder, you gain access to the Citi Concierge service, which can assist you with a variety of tasks, from making restaurant reservations to securing event tickets. This benefit can help simplify your life and make your experience as a cardholder more enjoyable.
8. Zero Liability on Unauthorized Purchases
With the Citi Double Cash® Card, you are protected from unauthorized charges on your card. Citi offers $0 liability for any fraudulent transactions made on your account, giving you peace of mind in case your card is lost or stolen.
How to Apply for the Citi Double Cash® Card
Applying for the Citi Double Cash® Card is easy, and the process can be completed online in just a few steps. Here’s how you can apply:
1. Check Your Credit Score
Before applying, it’s a good idea to check your credit score. The Citi Double Cash® Card typically requires applicants to have a good to excellent credit score (usually 700+), although approval can vary based on other factors like income and debt. If your credit score is below this range, you might still be able to qualify for the card, but it’s worth knowing what your score is before applying.
2. Visit the Citi Website
The easiest way to apply is by visiting the official Citi website. You can find detailed information about the Citi Double Cash® Card, including the current terms, rewards structure, and benefits. Once you’re ready to apply, simply click the “Apply Now” button to begin the process.
3. Complete the Application Form
The application form will ask for basic personal and financial information, such as:
- Your full name and address
- Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
- Employment information
- Annual income
- Monthly housing payment (rent or mortgage)
The form is typically quick to complete, and most people can finish it in just a few minutes.
4. Submit Your Application
After filling out the application form, submit it online. Citi will review your information, and you should receive an approval decision in a few minutes to a couple of business days. If you’re approved, Citi will send your new card in the mail, and you can start using it right away.
5. Start Earning Cash Back
Once you receive your Citi Double Cash® Card, you can start using it to earn 1% cash back on all purchases and an additional 1% cash back when you pay your bill. Be sure to take advantage of the introductory 0% APR offer on balance transfers and purchases, as well as the easy redemption options for your rewards.
Benefits of the Citi Double Cash® Card
- Generous cash back: 2% on every purchase with no restrictions or rotating categories.
- No annual fee: Keep your earnings without the burden of an annual fee.
- Introductory APR: 0% on purchases and balance transfers for the first 18 months.
- Flexible redemption options: Redeem cash back in various ways, including statement credits, checks, or gift cards.
- Zero fraud liability: Protect yourself from unauthorized purchases.
- Easy to use: Earn rewards automatically with no need to track categories.
Drawbacks of the Citi Double Cash® Card
- Foreign transaction fee: While the card offers great rewards, it does charge a 3% fee on purchases made abroad.
- No sign-up bonus: Unlike many other cash-back cards, the Citi Double Cash® Card does not offer a sign-up bonus, which could be a downside for those looking for a quick reward after signing up.
Conclusion
The Citi Double Cash® Card is an excellent choice for people who want a simple, high-reward cash-back card. With 2% cash back on all purchases, no rotating categories, and no annual fee, it provides value for both new cardholders and experienced users alike. While the 3% foreign transaction fee might be a downside for international travelers, the card’s flexibility, ease of use, and lack of an annual fee make it an ideal option for domestic spending.
To apply, simply visit the Citi website, check your credit score, and complete the online application. Once approved, you’ll start earning cash back on every purchase, making it easier than ever to maximize your spending.
By adding the Citi Double Cash® Card to your wallet, you’ll be well on your way to earning cash back on your everyday purchases with minimal effort.
