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Sometimes, a cash back credit card can be your best option if you travel infrequently. But do you know which credit card to use instead? This Citi® Double Cash Card review will show you how you can earn 2% back on purchases. Cardholders earn 1% cash back when they buy plus 1% cash back once they pay for the purchase. This is one of the highest rates for a flat rate cash rewards credit card.
The Citi Double Cash Card doesn’t charge an annual fee which makes this a hassle-free way to earn cash rewards. However, this card may not be the best cash back option for every person because of the high redemption minimums, lack of a signup bonus, and a 3% foreign transaction fee.
In-Depth Citi Double Cash Card Review
A flat-rate rewards programs like the Citi Double Cash has are easy to understand. In fact, you may think they are boring. With the Double Cash, every purchase earns 2% back that you can redeem for statement credits or mailed checks.
With a tiered rewards card like the Chase Freedom®, you earn 5% back on select rotating bonus categories (up to $1,500) and 1% back on everything else. The Chase Freedom may not be the best option if your primary purchases don’t match the bonus categories. You may earn more with 2% back instead of getting up to 5% back.
The information for the Chase Freedom® has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
Earn Unlimited 2% Back
You might say the Citi Double Cash gets its name from earning double cash back. Although you earn 2% back, there’s a “catch” with how you earn it.
Citi awards you the first 1% when you make the purchase. The second 1% comes when you pay the balance on time. You only need to pay the minimum monthly payment to keep your account in good standing.
With any credit card, we recommend to only make purchases you can pay in full to avoid interest charges.
You don’t earn cash rewards on balance transfers, cash advances, interest payments, account fees, or returned items.
Redeeming Cash Rewards
You have three ways to redeem your cash rewards:
- Cash statement credits
- Mailed check
- Bank account deposit
For all three options, your minimum rewards balance must be $25. That means you must spend and repay $1,250 to get $25 cash back. This high redemption is one of the largest downsides of the Citi Double Cash. However, if you use this card for daily purchases, you should be able to request cash back every month.
The easiest redemption option can be the cash statement credit. It automatically reduces your current balance. But it won’t count as payment for your current balance due.
Using the direct bank deposit can also be effortless. You can have the rewards deposit in your Citi savings or checking account. Non-Citi bank accounts qualify once you have paid a Citi credit card bill from that account twice.
The Citi® Double Cash Card doesn’t offer many additional benefits. This is one tradeoff for not paying an annual fee. Citi does offer the Citi Entertainment service to get special access to ticket pre-sales and exclusive events though.
You also get complimentary Mastercard World Elite benefits including free 2-day ShopRunner shipping and travel discounts.
Credit Score Needed
You will need to have an excellent credit score for the Citi Double Cash. If your credit score is above 700 and you currently carry a balance, this card can be a valuable tool for improving your credit.
No Signup Bonus
Another downside of the Citi Double Cash is no introductory cash bonus.
Although you don’t earn a one-time cash bonus, the Citi® Double Cash Card is one of the highest-paying flat rate rewards cards. Most cards award between 1 and 1.5% back. You can make up the lack of a signup bonus by earning more on every purchase.
There is no annual fee but you will pay a 3% foreign transaction fee. The Double Cash isn’t a good option for foreign purchases because of the 3% fee.
Tip: Use one of the best credit cards for international travel when traveling abroad.
- Can earn unlimited 2% cash back
- Can redeem for cash statement credit, mailed check, or bank deposit
- No annual fee
- No signup bonus
- Minimum $25 balance to redeem rewards
- 3% foreign transaction fee
Citi Double Cash Alternatives
Earning 2% back is impressive for a flat rate cash rewards credit card. But you benefit more from one of these credit cards.
Capital One Quicksilver Cash Rewards Credit Card
The information for the Capital One® Quicksilver® Cash Rewards Credit Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
The Capital One® Quicksilver® Cash Rewards Credit Card also is a flat rate cash rewards credit card. You earn unlimited 1.5% back on every purchase. It too has no annual fee and doesn’t charge a foreign transaction fee. Another difference is that you get a $150 cash bonus by spending $500 in the first 3 months. You can learn more in our in-depth review of the Capital One Quicksilver Cash Rewards Credit Card.
The information for the Chase Freedom has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
The Chase Freedom® has the ability to earn a 5% bonus of select rotating categories (up to the first $1,500 spent) that change each quarter. All non-bonus purchases earn 1% back.
Bonus categories include gas stations, grocery stores, and digital wallet payments. The annual fee is $0. You can redeem your points for cash, travel, and gift card rewards. The Chase Freedom is also one of the best cash back credit cards available.
Capital One Savor Cash Rewards Credit Card
The information for the Capital One® Savor® Cash Rewards Credit Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
If you spend a lot of money on restaurants, groceries, and entertainment, the Capital One® Savor® Cash Rewards Credit Card can be a better fit. You get 4% cash back on dining and entertainment, 2% back at grocery stores, and 1% back for everything else. Vivid Seats purchases earn 8% back through May 2020.
The signup bonus is $300 after spending $3,000 in the first 3 months. The annual fee is $0 for the first year and then $95 after that. There isn’t a foreign transaction fee. It is also one of the best credit cards for restaurants and dining.
Capital One Venture Rewards Credit Card
The information for the Capital One® Venture® Rewards Credit Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
If flat-rate rewards credit cards are your best option you may also like the Capital One® Venture® Rewards Credit Card. It earns 2x miles on every purchase. Your miles can be redeemed for travel statement credits, booking future travel, and transferring miles to airline and hotel partners.
One benefit you may also enjoy is up to $100 fee credit for the Global Entry or TSA PreCheck application fee.
The signup bonus is 50,000 miles ($500 value) after spending $3,000 in the first 3 months. The annual fee is $95. Learn more in our in-depth Capital One Venture Rewards review.
Summary of Citi Double Cash Review
Very few cash back credit cards give unlimited 2% back and don’t have an annual fee. The Citi® Double Cash Card is one of those cards. If you’re comfortable with only earning cash rewards and having a 3% foreign transaction fee doesn’t affect you, you might consider this card. Otherwise, one of the best travel credit cards or a tiered cash rewards credit card are other notable alternatives.
Chase Sapphire Preferred® Card
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.