Citi Double Cash card: Who Is This Card Good For?

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Chicago,IL,USA,Feb-12,2017,Close up of an open wallet with credit cards with Chase,Chase Disney,Citi Simplicity and Master card logos (for editorial use only)

The Citi Double Cash card has a number of worthy competitors, including the Discover It card, the Chase Freedom card, and American Express’s Blue Cash Everyday card. These cards all come with attractive cash rewards programs and 0% introductory APR, and none of the cards have an annual fee. However, these cards cannot match the combination of simplicity and value found in the Citi Double Cash card. While other cards may offer 2, 3, or even 5% redemption opportunities, purchase restrictions and spending limits are generally in place to reduce the overall value of those opportunities. The Citi Double Cash card has no purchase restrictions or spending limits.

This card is a terrific option for big spenders and anyone who doesn’t want to worry about rotating purchase categories and other complex redemption rules. While careful card holders may be able to extract the maximum value from other cash back cards, the Citi Double Cash card returns exceptional value without too much hassle. Given the options currently on the market, no problem is not bad for a cash back card.

A cash back credit card is a flexible alternative to airline miles, gas and other special reward cards. However, cashback programs are often complicated, with multiple reward levels and confusing limitations. The Citi Double Cash card eliminates tiered rewards by rotating purchase categories and quarterly spending limits altogether, giving cardholders the flexibility of cash rewards without any complexity. Issued by Citibank, a subsidiary of Citigroup (C), the Citi Double Cash card is an attractive option among the latest cash back credit cards available today.

Rewards and Benefits

As the name suggests, the Citi Double Cash card pays cardholders two cash rewards. The first prize pays 1% refund for every dollar spent on the card. The second premium pays another 1% rebate for every dollar paid towards the account balance. This means that a cardholder who pays their entire card balance each month accumulates a total of 2% cash back on every dollar spent almost immediately. A cardholder who carries a monthly balance on the card realizes the second 1% reward a little slower as the balance is paid.

This card has no annual fee and is introduced with a 0% introductory annual effective rate (APR) on all purchases and balance transfers for the first 15 months of card ownership. In addition, cardholders gain access to a wide range of consumer protection benefits from Citibank, including identity theft and fraud protection, damage and theft protection for purchases and numerous insurance programs related to do you travel. The Citi Double Cash card also offers an opportunity for late forgiveness if you forget a payment on the card.

The Fine Print

To redeem cash back rewards, cardholders must first accumulate a prize balance of at least $ 25. Rewards can be redeemed as a check, credit on statement or credit on a linked Citibank bank or savings account. Various gift cards in different denominations are available for redemption.

When the 15-month APR period ends, the APR rises between 12.99 and 22.9% depending on the trustworthiness of the cardholder. The new APR applies to both purchases and balance transfers. The cash advance APR is 25.24%. While the cash balance balance is generally less than, cardholders should avoid carrying a purchase balance on this card. With a minimum APR of 12.99%, interest payable quickly wipes out any gains from the cash back rewards program. Main competitors

The Citi Double Cash card has a number of worthy competitors, including the Discover It card, the Chase Freedom card, and American Express’s Blue Cash Everyday card. These cards all come with attractive cash rewards programs and 0% introductory APR, and none of the cards have an annual fee. However, these cards cannot match the combination of simplicity and value found in the Citi Double Cash card. While other cards may offer 2, 3, or even 5% redemption opportunities, purchase restrictions and spending limits are generally in place to reduce the overall value of those opportunities. The Citi Double Cash card has no purchase restrictions or spending limits.

While the Citi Double Cash card stands out for its 2% combined rewards rate, the card does not offer redemption bonuses for new cardholders. Other cashback reward cards, including American Express’s Chase Freedom card and Blue Cash Everyday card, for example, offer an automatic $ 100 cash bonus for spending a required amount of money in the first three months of holding the card.

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