Citi Double Cash Review – Earn 1% + 1% Cash Back

The Citi® Double Cash Card offers a unique cash back reward. You earn unlimited 1% cash back on every purchase + 1% cash back when you pay your credit card bill on time. It also offers an excellent 0% introductory rate on balance transfers and purchases. It’s the card I use everyday.

There are other cards that pay 2%, but only if you use the rewards for travel (e.g., Capital One Venture Rewards) or have an account at Fidelity (e.g., Fidelity Visa card). With the Citi® Double Cash Card, there are no such requirements, as you’ll see in this review.

Citi® Double Cash Card Snapshot

• 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be based on your creditworthiness
• There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
• The only card that earns you cash back TWICE on every purchase with:
• 1% cash back when you buy
• Plus 1% cash back as you pay for those purchases, whether you pay in full or over time*
• No Category Restrictions, No Caps, No Enrollments in Rotating Categories
• No Annual Fee

How Double Cash Works

One draw to this card is its simplicity. There are no rotating categories and rewards do not need to be spent in a certain way to get the maximum benefit. Instead, simply use the card and make at least the minimum payment on time.

You’ll earn 1% on every purchase with the card. You’ll then earn another 1% when you make at least the minimum payment on time. There is no need to pay the card in full. If you do, however, you’ll speed up earning the second 1% cash back. The result is that you can earn a total of 2% of the value of your purchases, so long as you make the minimum monthly payment on time.

Redeeming rewards is easy. You can apply them as a statement credit to your bill or use them to buy gift cards. You can also ask Citi to send you a check.

Last year we earned nearly $2,000 in cash back with this card. Granted, I paid for our children’s college tuition with the card, but why not? Here’s the email Citi® Double Cash Card sent me on the one year anniversary of getting the card:

0% Introductory Rate

The card offers a 0% APR introductory rate for 18 months on balance transfers. There is a balance transfer fee of either $5 or 3% fee of the amount of each balance transfer, whichever is greater. This 0% deal compares favorably to the other no interest offers we track.

Other Perks

The Citi® Double Cash Card as a long list of additional benefits:

• A late fee pass: Citi gives you a pass on your first late fee.
• Citi^® Private Pass^®: As a Citi cardmember you’ll get access to purchase tickets to thousands of entertainment events and special experiences; including VIP packages, preferred & presale tickets to live concerts, family and comedy shows, plus sports clinics with celebrity athletes and culinary events with top chefs.
• Citi Price Rewind: After you make a purchase, Citi searches for a lower price. If they find a lower price within 60 days, you can get a refund of the difference up to $300 per item (up to $1,200 per year).
• EMV Chip Technology: The card has an EMV chip for added security.
• Damage & Theft Purchase Protection: You are covered up to $1,000 per item, up to $50,000 per year if purchases made with your Citi card are damaged or stolen within 120 days of purchase (90 days for New York residents).
• Extended Warranty: You may be able to add up to a year on your warranty of five years or less. You’re covered for up to $10,000 per year.
• Citi with Apple Pay^™: You can use ApplePay with your Citi® Double Cash Card.
• Citi^® Identity Theft Solutions: Citi offers assistance if your identity is stolen.
• $0 liability for unauthorized charges
• The Lost Wallet^® Service: Citi will replace your card usually within 24 hours. They will also provide you with emergency cash subject to your available cash advance limit.
• Worldwide Car Rental Insurance: You may be covered against theft or damage up to $50,000 for any rental car in any country when you pay with your Citi card and decline the rental company’s collision loss/damage insurance.
• Trip Cancellation & Interruption Protection: If certain unforeseen events get in the way of your trip, you may be reimbursed for non–refundable trip expenses, like change fees, up to $1,500 per year provided you paid for the trip with your Citi card.
• Worldwide Travel Accident Insurance: Worldwide Travel Accident Insurance may offer some financial help to you or your loved ones if a tragic accident does occur, up to $250,000 in compensation.
• Our Concierge Service: Similar to a personal assistant, Citi’s concierge service is available 24/7 to help you with everything from making travel arrangements and dinner reservations, to ordinary conveniences like scheduling a cleaning service and finding a dog walker.

What we like about the Citi Double Cash Card

• Excellent cash back rewards
• Rewards can be redeemed in several ways, including a statement credit or check
• No annual fee
• Very good 0% APR offer on balance transfers and purchases
• Excellent services from Citibank

What could be better

• Requires Excellent Credit
• Foreign transaction fee makes card not ideal for overseas travel
• No bonus offer on sign-up