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- Citi Double Cash Card
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- 1 Citi Double Cash $100 Bonus
- 2 2% Cash Back & More With The Citi Double Cash
- 3 What’s The Competition?
The Citi Double Cash credit card is currently one of the best cash back credit cards for flexible spending, and there is now a new $100 bonus offer for it. The requirements are standard for a $100 bonus, where you’ll need to spend at least $500 in purchases within the first 3 months of account opening.
Aside from the gratification of a short-term bonus, this card fills the role as a long term, market-leading cash back rate option. You’ll earn 1% cash back on all your purchases, and then another 1% cash back once you pay off those purchases.
There’s no annual fee, so this makes a good choice for low spenders as well as those who are looking to maximize rewards with multiple cards. Competitor cash back cards with no annual fee that earn on flexible spending typically earn 1% to 1.5% (we’ll go over competitors below). *Citibank offers good bonuses for their Checking accounts also.
Citi Double Cash $100 Bonus
This is a new offer for the Citi Double Cash card, as previously there was no sign-up bonus. You’ll earn a $100 bonus after $500 in purchases within the first 3 months of account opening.
It looks like Citi has decided to discontinue the 0% introductory APR on Balance Transfers benefit with this card now, but this new sign-up bonus should entice many.
Meeting The $500 Spending Requirement
Compared to cards with bigger bonuses, a $500 spending requirement should be fairly easy to accommodate. Aside from your regular everyday spending, some popular options can include funding bank account opening deposits with your card and using a 3rd party service like Plastiq.com to pay bills with your card.
- Funding bank accounts. Many folks take advantage of this option for Checking accounts that also offer a sign-up bonus. For example, big banks like Chase and TD Bank consistently offer sign-up bonuses for their Checking accounts. They also allow applicants to fund the opening deposit with a credit card. This is a great way to meet the spending requirement for your Citi card bonus while you go through the process of earning a separate Checking bonus. See this list of bank accounts that can be funded with credit cards. Current bank bonuses are updated here.
- Pay bills with your card. If you’re the person in charge of paying bills, you know that many only allow payment directly from a Checking account. These bills often include your rent or mortgage. Using a 3rd party service like Plastiq.com, you can use your credit card to pay off such bills. Essentially, you’ll pay Plastiq with your card, and they will send off a check to pay off your bill(s). You’ll just need to consider the 2.5% fee they charge, which can cut a big chunk away from the card bonus.
- Read about other great options to meet card bonus spending requirements here.
2% Cash Back & More With The Citi Double Cash
You’ll earn 1% cash back on all your purchases, regardless of spending category. Then, once you pay off those purchases, you’ll receive another 1% cash back. If you carry a balance, that extra 1% won’t come right away so it’s a good incentive for responsible credit card usage. Plus, there is no cap on the amount of cash back you’ll receive at the maximum 2% rate. Be sure to pay at least the minimum due to earn the additional 1% cash back if you’re not paying off the balance in full each month.
What Doesn’t Earn Cash Back
It makes total sense but it’s worth mentioning that you won’t earn cash back on balance transfers, cash advances, account fees, interest, or returned items. As you make qualifying purchases, the Purchase Tracker will keep a running tab on what will earn you cash back.
What Are The Cash Back Redemption Options?
- Checks mailed to you
- Statement credits
- Gift cards
This is a cash back card so there is no rewards conversion necessary. The 1-2% that you earn is the value you can redeem for.
Citi’s Price Rewind
This is where you can register the purchases you’ve made with the Double Cash card online and get money back. Citibank will search for these items online at different retailers and will refund the difference if they find a lower price for it within 60 days of purchase. You can be refunded up to $300 per item, up to a maximum of $1,200 in refunds annually.
Late Fee Forgiveness
The first time you forget to pay your monthly credit card bill, Citi will waive the late fee. It should be noted that most credit card issuers will do this for you if you give them a call anyway.
Who’s This Card Good For?
- Users that don’t want to keep up with rotating categories and rewards limits on categories.
- Users that want to maximize rewards by using this card as a supplement to another card that earns higher cash back in spending categories.
Who’s This Card Bad For?
- Users looking for quicker short-term value with a sign-up bonus.
- Users wanting the option to redeem for flights, hotels, and other travel.
- Users who need a card to travel abroad. The Citi Double Cash will incur a 3% foreign transaction fee, so you’ll definitely need another option.
- Users who tend to spend a lot on certain categories that other cards give a higher rate towards, such as Travel, Dining, etc.
What’s The Competition?
- Chase Freedom®: This card has been an old favorite for its 5% cash back quarterly rotating categories. For users that want to maximize cash back, it’s a good option to pair with the Citi Double Cash card. Outside of the 5% categories, your purchases will only earn 1%. Of course, the $150 sign-up bonus is what seals the deal with this card.
- Capital One® Quicksilver® Cash Rewards: This is another great option that earns 1.5% cash back on every purchase, with no limit. It also comes with a $100 cash bonus and is a solid alternative to the Citi Double Cash.
- Barclays Arrival® Premier World Elite Mastercard®: If you’re high spender looking for a straightforward long-term option, this card let’s cardholders earn up to $250 worth of bonus miles every year, rather than just a single initial sign-up bonus. You’ll earn an ongoing rate of 2 miles per $1 spent on all purchases regardless of category, or 2% back when redeemed for travel.
Capital One® Quicksilver® Cash Rewards
Barclays Arrival® Premier World Elite Mastercard®
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