- Annual percentage rate (APR): 13.99% – 23.99%.
- Purchase intro APR: 0% for 18 months on balance transfers.
- Rewards: 2% cash back.
- Annual fee: $0.
- Late fee: $40, waived for the first late payment.
- Credit score: Very Good to Excellent (720-850).
- Compare cards here.
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The Citi Double Cash Card has benefits that make it stand out from other cash-back credit cards with no annual fee.
- 2% cash back on all purchases without limitations: The Citi Double Cash Card offers 1% cash back on all purchases. This rate is competitive with other fee-free cash-back cards on the market. However, users get an additional 1% cash back when they pay their credit card bill, which puts the total reward at 2%. Some other cards offer 2% cash back when cardholders shop in specific categories. The thing that makes the Citi Double Cash stand out is that you get the total of 2% cash back for every purchase. You do not need to worry about categories.
- Long introductory APR period: The current Citi Double Cash Card introductory 0% APR offer lasts for 18 months. However, the period is only for balance transfers. This offer is ideal if you want to consolidate your debt. Unfortunately, the offer does not include purchases, though you could make the purchase with another card and then transfer it to the Citi Double Cash card.
- No annual fee: Cards with no annual fee typically offer 1% or 1.5% cash back, with the chance to earn 2% or more in specific categories. The unlimited 2% in all categories offered by the Citi Double Cash is high for a no-annual-fee card. Some cards with an annual fee offer the same cash-back percentage for all categories.
- Access to your FICO credit score: Citi provides free access to your FICO credit score. If you want to monitor your credit score and ensure that it is not falling, this extra perk can be very beneficial.
The Citi Double Cash Card offers a great cash-back rate, but it does have some drawbacks that applicants need to be aware of when they apply.
- You need very good or excellent credit to get this card: The Citi Double Cash card is for people with very good or excellent credit scores of 700 to 720 or higher on the FICO credit score scale.
- The introductory 0% APR offer is only good for balance transfers: You can only get 18 months of interest-free payments on balance transfers, and Citi charges a 3% fee on balances transferred. Purchases do not qualify for the 0% APR deal, so the Citi Double Cash is not a good option if you want a card that you can use to make a major purchase without worrying about interest payments.
- You need to pay off your balance monthly to get the full value of your cash-back rewards: Because of the interest charges on purchases, you need to pay off your balance every month to get the full value of your cash-back rewards. Interest charges will quickly cancel out the 2% cash-back rewards.
- There is a 3% foreign transaction fee: The Citi Double Cash is not a viable option for traveling internationally because it has a 3% foreign transaction fee. If you plan to travel abroad, you need to find a card that offers a 0% foreign transaction fee. There are other Citi cards and other cash-back cards that do not levy foreign transaction fees.
What Can You Expect From the Citi Double Cash Card?
The Citi Double Cash Card offers 2% cash back, and it provides different options for redeeming the rewards. Cardholders can redeem points for a statement credit, a check, or a gift card. Citi can also deposit the rewards as cash in a Citibank checking account.
Citi has an online web portal and mobile app for account management. It is also possible to connect other Citibank accounts to manage all your finances in one place.
Citi offers customer service through its site and app, by email, by phone, and by chat.
Who Should Get the Citi Double Cash Card?
The Citi Double Cash Card is a great option for people who want a no-annual-fee cash-back card that offers the best rewards percentage. The fact that you do not need to worry about specific categories will be a welcome feature for some cardholders who want to earn rewards without having to jump through any hoops.
People who want to put in the effort to earn more than 2% cash back can choose a card that offers rotating categories or provides more than 2% back but requires an annual fee.
People who travel internationally frequently will want to avoid this card because of the 3% foreign transaction fee, or they will want to get a second card that does not levy such a fee.
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