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Complicated cashback cards with categories that change every quarter or every month is not for everyone. As they say, simplicity is the ultimate sophistication. Citi® Double Cash Card – 18 month BT offer credit card offers 2% cashback on everything. It’s that simple. But if you are a traveler, the card allows you to transfer points to transfer and hotel partners, which allows you to get more value. But there are a few things you need to consider before you get the card. Let’s take a look at what’s good and what’s not with the Citi Double Cash credit card.
Citi® Double Cash Card – 18 month BT offer
Rewards & Perks
- 2% cashback with no limits or categories
- Cashback is earned as ThankYou points
- ThankYou points can be transferred to limited hotel and airline partners
You will receive the 2% cashback in two parts – 1% when you buy with your credit card and the other 1% when you pay for those purchases. You must make at least the minimum payment every month on time to receive the second 1% cashback.
Starting March 28, 2022, cashback will be earned in the form of ThankYou points. You can still convert them to 2% cash anytime you prefer. The ThankYou points earned on the Citi Double Cash card cannot be transferred to all of Citi’s travel or hotel transfer partners. You will need the Citi Premier Card to transfer points to all of Citi’s transfer partners.
But Citi Double Cash cardholders can transfer ThankYou points to JetBlue, Choice Privileges, and Wyndham Rewards. You can also use the points for gift cards, travel or donations to nonprofits.
Sign up bonuses
Citi Double Cash does not offer sign-up bonuses. This is one of the disappointing aspects of this card. Other cards in its category offer sign-up bonuses with minimum spend in the first 3 months.
Fees
- Annual Fee – $0
- Foreign transaction Fee – 3%
If you travel frequently, you will be better off using a different credit card with no foreign transaction fee. Citi Double Cash Card’s 3% foreign transaction fee will erase the benefits of a 2% cashback. Foreign transaction fees also apply if you buy online from a website based overseas.
Redeeming cashback
Cashback can be redeemed as checks, statement credits, or a direct deposit to your bank account. There are no minimum amounts for redemption. You can transfer ThankYou points to JetBlue, Choice Privileges, and Wyndham Rewards.
Competitor cards
Capital One Quicksilver card has no annual fee and no foreign transaction fees. You get a one-time sign-up bonus of $200 after spending $500 within the first three months of account opening. The card offers 1.5% cashback on all purchases.
Chase Freedom Unlimited® card offers 3% on dining at restaurants (including takeout and eligible delivery services), 3% on drugstore purchases, and 1.5% on all other purchases. Just like the Citi Double Cash credit card, this card has no annual fee and has a 3% foreign transaction fee.
Bottom line
If you are looking for a simple cashback card with no categories to keep track of and no spending limits, Citi Double cashback is an excellent card to have in your wallet. You get 1% cashback when you use your credit card, and the other 1% when you pay your monthly bill. You must make at least the minimum payment to get the 1% cashback. You get your rewards either as cash or in ThankYou points, which you can transfer to a limited number of hotel and airline transfer partners. The downside of this card is that it doesn’t offer any sign-up bonuses like most cards in its category. The card also has a 3% foreign transaction fee. So it’s not a great card if you travel overseas often or if you shop on overseas websites.
My Money Planet has partnered with CardRatings for our coverage of credit card products. My Money Planet and CardRatings may receive a commission from card issuers.
