Citi® Double Cash Card

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Is the Citi® Double Cash Card Right for You?

With so many credit cards on the market, it can be difficult to know which card to choose. Almost all credit cards try to sell themselves by pointing out their advantages, such as low interest rates or points which can be accumulated and used later.

The Citi® Double Cash Card has important advantages, with little against it. There is a good cash back program on purchases, a large time period for paying off balance transfers with no interest, and to top it off, no annual fee.

Citi® Double Cash Card Cash Back Program

The great asset of the Citi® Double Cash Card is that it pays 1% cash back on all purchases, then pays you back another 1% when those purchases are paid off. You can essentially be paid money for spending money, even on your regular purchases like groceries.

There is also no cap on the amount of cash you can receive back while using your Citi® Double Cash Card, so you can use your card to pay monthly bills and then immediately pay it off so you can use it again. You will earn 1% back during both transactions, so you can earn money on purchases you need to make anyway.

Balance Transfers

For those who are getting the card to transfer another credit card balance, it is important to note that balance transfers do not earn the 1% cash back. However, customers who transfer other credit card balances to their new Citi® Double Cash Card can pay it back for 18 months without paying any interest.

The 0% Introductory Annual Percentage Rate (APR) is only good for the first 18 months, after which the interest rises to a variable APR of between 14.99% and 24.99% based on your credit worthiness. There may also be a balance transfer fee.

How Credit Worthy Are You?

Unfortunately, if your credit does not fall into one of the categories considered good or excellent, you may not be qualified to receive the Citi® Double Cash Card. Also, you will be required to pay a higher interest rate if the credit card company does not deem you worthy of getting one of the more favorable rates.

Some may consider it a disadvantage that there is no sign-up bonus, or that the deal on balance transfers isn’t better. But the Citi® Double Cash Card is a card you can use to earn money while you are making purchases you would need to make anyway, giving customers potentially unlimited rewards for almost no effort. The Citi® Double Cash Card also doesn’t require you to track categories yourself regarding purchases. If you qualify for this card, it would seem like a no-brainer to accept it, maybe even as part of a strategy where you manage your finances with two credit cards.