Citi Double Cash Card Review (Updated 2016)
The Citi Double Cash card is a cash back credit card that offers great value. Cash back credit cards allow you to earn cash back every time a purchase is made with the card. Cash back credit cards can offer great value especially if the balance is paid each month to avoid interest charges. As far as cash back cards go the Citi Double Cash credit card is one of the best cards on the market. This review will tell you everything you need to know about the Citi Double Cash card.
Our Favourite Things About The Citi Double Cash Card
- Earn a steady 2% cash back rate: This card is the only card that allows you to earn cash back twice on every purchase, as you earn 1% cash back when you make a purchase with the card, and another 1% when you pay for those purchases, whether its in full or over time. This encourages the user to make their payments so they can get the additional 1% cash back.
- 0% offer on purchases and balance transfers: You will enjoy 0% intro A.P.R. on all purchases and balance transfers for the first 15 months. After the intro period the A.P.R. ranges from 13% to 23%.
- No annual fee: This card does not have any annual fee to worry about, which is great considering the cash back rate it offers.
- No limit on cash back: There is no limit on the amount of cash back that you can earn, as there are no category restrictions, and no revolving categories.
- 0% Intro A.P.R. on balance transfers: This card has a great 0% intro A.P.R. on all balance transfers for the first 15 months of card opening. This makes this a versatile card allowing you to transfer balances from other credit cards to this card.
- 0% Intro A.P.R. on balance transfers: This card also has a 0% intro A.P.R. on all purchases for the first 15 months of card opening which ads even more value to this card.
- Citi Price Rewind Feature: This neat feature really makes this card stand out from the crowd. When you purchase an item with this card, you can submit the purchase info to Citi Price Rewind, which tracks the price of the item for the next 60 days. If it finds the item cheaper within 60 days , then you will get a refund for the difference in price. The limit on the amount of refunds you can receive in a year is $1200. More details on how to use the Price Rewind as shown below:
- when you make a purchase with the card, be sure to keep the receipt.
- Log onto the Citi Rewind Program online, and search for the product you bought in the search database.
- Select the item once you find it, and enter details they will need which can be found on your receipt.
- Submit the information, to allow the Citi Rewind to start tracking the product for lower prices. Once the program find the item at a lower price within 60 days, then Citi will notify you asking if you would like a refund on the difference.
Things We Didn’t Like About The Citi Double Cash Card
- Requires excellent credit: You need to have excellent credit in order to qualify for this card. Many people fall under the ‘good credit’ category and will be unable to get this card.
- Balance transfer fee: This card has a balance transfer fee of either 3% or $5, whichever is greater. However this isn’t a huge deal since it isn’t primarily a balance transfer card, but it would have been nice if there wasn’t a balance transfer fee.
- High cash advance fee: There is a cash advance fee of either $10 or 5% whichever is greater. This means using this card to withdraw cash from an A.T.M. will cost you. However with that being said most cash back cards have a cash advance fee, although some not this high.
- Foreign transaction fee: This card will charge you 3% when you use this card in other countries, or if you use the card to pay for an item in a foreign currency.
- Rewards expire: Your accumulated rewards/cash back will expire if you do not use this card for purchases or payments within 12 months. This isn’t a huge deal, as most people will use their card often. If you are one who might not use it often, then you would be better off with a card with a cash back that does not expire such as the Chase Freedom card.
Who The Citi Double Cash Card Best Suits
- Those who prefer a flat rewards rate over 5% hit and miss rotating categories.
- Those looking for a 0% A.P.R. period on purchases and balance transfers.
How Citi Double Cash Back Compares With Other Cards
Capital One Quicksilver Cash Rewards Credit Card
This is another cash back card that is similar to the Citi Double Cash Card. This card rewards you with 1.5% cash back on every purchase made with this card, which is a bit lower then the 2% rate seen with the Citi card. Also, this card has a bonus offer which will award you with $100 after you spend your first $500 within the first 3 months of card opening, while the Citi card does not have a bonus offer of any sort. This card offers 0% intro A.P.R. on all balance transfers and purchases until November 2016, which is a little bit shorter then the Citi 0% offer. Both cards do not have an annual fee. Overall the Citi Card has a higher cash back rate then the Quicksilver cards outweighing any other benefits the Quicksilver card might have over the Citi card.
Bank Americard Cash Rewards Credit Card
This is another cash back credit card that competes closely with the Citi Double Cash card. This card offers 1% cash back on on every purchase, 2% on grocery store purchases, and 3% on gas purchases in combined $1500 gas and grocery purchases each quarter. This card has a slightly shorter intro period as you will pay 0% intro A.P.R. on all balance transfers for 12 months made in the first 60 days and purchases made in the first 12 months. Both cards do not have an annual fee. This card does have a sign up bonus, while the Citi card does not, however it is only a $100 bonus after you spend the first $500 in purchases within the first 90 days. Both cards have a penalty A.P.R. and late payments, as well as a cash advance fee, although the cash advance fee on the Quicksilver card is lower. If you are one who will use their card frequently for gas purchases, then you might want to consider the Bank Americard Cash Rewards card over the Citi Double Cash card as it earns you 3% cash back. You really can’t go wrong with either card, although I would still give a slight edge to the Citi Double Cash credit card, especially because of the $1500 limit you can earn on the 3% cash back categories.
Discover IT Chrome Cash Back Credit Card
The Discover IT Chrome cash back card is a cash back card that allows you to earn 1% on all purchases, plus 2% cash back on dining and gas purchases for a combined $1000 each quarter. This card has a great bonus, which will double the cash back you’ve earned after your first year with the card.This is quite the bonus, if you have accumulated $250 in cash back, it will be doubled to $500. This card also has an intro offer that will see you pay 0% intro A.P.R. on all purchases and balance transfers made in the first 12 months, then the A.P.R. ranges from 11% to 23%. This card will also free access to your FICO score, which a several credit cards seem to be doing these days. The downside with this card is there is a limit on the cash back you earn on the 2% cash back on dining and gas purchases, while the Citi card does not have a limit. If there were no combined limits on the cash back you can earn I would say this card might be on par with the on the Citi Double Cash Card, but the fact that are $1000 limits on the 2% hurts its value.
Should You, Or Shouldn’t You? Our Final Verdict
This is one of the only cards that will allow you to consistently to earn 2% cash back for every purchases made. It actually provides you with incentive to make the payments on your purchases so you can earn the other 1%, pretty cool stuff. This is a great card for those who are looking to use their card often to earn cash back, without having to worry which rotating categories are in effect etc. So if you like a no hassle cash back card, then you should definitely get the Citi Double Cash card. With other cards you get rewarded more when you buy in certain categories which might not be an item you would purchase with the card very often. With this card you do not have to worry about it at all.
However, If you are one that really likes to use your card heavily on 5% revolving categories then you might be better off going with the Chase Freedom Card, as it has 5% cash back categories.