Citi Double Cash Card: A Comprehensive 2024 Review

Discover why the Citi Double Cash Card is the top choice for cash-back rewards. With its unique cashback program and numerous benefits, this card is quickly becoming one of the most popular credit cards on the market today.

Introduction

When it comes to choosing a credit card, there are many options available in the market. One such option is the Citi Double Cash Card. This credit card is designed to offer users cashback rewards on their purchases. In this article, we will review, its benefits, drawbacks, fees, and how it compares to other similar credit cards.

Benefits and drawbacks

Benefits

This Card offers several benefits to its users. Some of these benefits include:

Cashback Rewards

The primary benefit of the Citi Double Cash Card is its cashback rewards program. Cardholders can earn up to 2% cash back on all purchases they make with the card. This cashback is divided into two parts: 1% is earned when the purchase is made, and an additional 1% is earned when the balance is paid off.

No Annual Fee

Another benefit of this card is that it does not have an annual fee. This makes it an attractive option for those who want to earn rewards without having to pay a fee for the privilege.

Balance Transfer Offer

The Citi Double Cash Card also offers a balance transfer offer. Cardholders can transfer their balance from another credit card to this Card and receive a 0% APR on the balance for the first 18 months. However, there is a balance transfer fee of 3% or $5, whichever is greater.

Zero Liability Protection

This Card also comes with zero liability protection, which means that cardholders are not responsible for any fraudulent charges made with their card.

Other Perks

In addition to the above benefits, the Citi Double Cash Card also offers other perks such as:

• Citi Entertainment Access
• Travel Accident Insurance
• Worldwide Travel Accident Insurance
• Trip Cancellation and Interruption Protection

Drawbacks

While this Card offers several benefits, there are also some drawbacks to consider before applying for the card. These include:

No Sign-Up Bonus

One of the biggest drawbacks of this Card is that it does not offer a sign-up bonus. This means that users will not receive any cashback or rewards for opening an account and making their first purchase.

Foreign Transaction Fees

The Citi Double Cash Card charges a 3% foreign transaction fee on all purchases made outside of the United States. This can make it an expensive option for those who frequently travel internationally.

Limited Redemption Options

Another drawback of the Citi Double Cash Card is that it offers limited redemption options. Cardholders can only redeem their cashback rewards as a statement credit, check, or gift card. This means that users cannot redeem their rewards for travel or other merchandise.

Fees and Charges

Before applying for the Citi Double Cash Card, it's important to understand the fees and charges associated with the card. These include:

Annual Fee

This Card does not have an annual fee.

Balance Transfer Fee

The balance transfer fee is 3% or $5, whichever is greater.

Late Payment Fee

The late payment fee is up to $40.

APR

The APR ranges from 13.99% - 23.99% variable.

How to Apply and Eligibility

To apply for the Citi Double Cash Card, you must be at least 18 years old and a legal resident of the United States. You'll also need to have a good credit score to qualify for this card. It has a minimum credit score requirement of 670, which is considered a good credit score.

To apply for the Citi Double Cash Card, you’ll need to follow these steps:

1. Visit the Citi website and click on the "Apply Now" button.
2. Enter your personal information, including your name, address, and contact details.
3. Provide your employment information, including your income and employment status.
4. Enter your financial information, including your monthly housing payment and other expenses.
5. Review and submit your application.

Once you've submitted your application, you'll receive a decision within a few days. If you're approved, you'll receive your Cash Card in the mail within 7-10 business days.

How Citi Double Cash Card Compares to Other Credit Cards

To understand how the Citi Double Cash Card stacks up against other credit cards, let's compare it to two similar credit cards: the Chase Freedom Unlimited and the Capital One Quicksilver Cash Rewards Credit Card.

Citi Double Cash Card vs Chase Freedom Unlimited

However, Chase Freedom Unlimited offers a sign-up bonus of $200 after spending $500 in the first 3 months of account opening.

The Chase Freedom Unlimited also offers a 0% APR for the first 15 months on purchases and balance transfers, compared to the Citi Double Cash Card's 18 months on balance transfers only. On the other hand, the Citi Double Cash Card offers a higher cashback rate of 2% compared to Chase Freedom Unlimited's 1.5%.

Citi Double Cash Card vs Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card offers similar benefits to the Citi Double Cash Card, such as no annual fee and a cashback rewards program. However, the Capital One Quicksilver Cash Rewards Credit Card offers a sign-up bonus of $200 after spending $500 in the first 3 months, compared to the Citi Double Cash Card's lack of a sign-up bonus.

The Capital One Quicksilver Cash Rewards Credit Card also offers a 0% APR for the first 15 months on purchases and balance transfers, compared to the Citi Double Cash Card's 18 months on balance transfers only. However, the Citi Double Cash Card offers a higher cashback rate of 2% compared to the Capital One Quicksilver Cash Rewards Credit Card's 1.5%.

Conclusion

The Citi Double Cash Card is a solid credit card option for those who want to earn cashback rewards on their purchases without having to pay an annual fee. Its cashback program offers a high rate of 2%, and the balance transfer offer can be useful for those who want to transfer high-interest balances from other credit cards. However, its lack of a sign-up bonus and limited redemption options may make it less attractive to some users. Overall, this Card is a good choice for those who want a simple and straightforward cashback credit card.

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