Citi Double Money card evaluate: Easy rewards and a pair of% money again on the whole lot
Citi® Double Money Card overview
The Citi® Double Money Card is likely one of the easiest and most rewarding cash-back rewards playing cards. With as much as 2% earnings on all purchases — 1% whenever you make a purchase order and one other 1% whenever you pay it off — it’s tough to beat this no-annual-fee card. Plus, you possibly can convert your rewards to fully-transferable ThankYou factors with one other card. Card score*: ⭐⭐⭐⭐
*Card score is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
The Citi Double Money Card is likely one of the greatest cash-back playing cards as a result of it earns as much as 2% money again on all purchases — 1% whenever you make a purchase order, plus 1% as you pay that buy off — with no annual charge.
Money again is robotically earned within the type of ThankYou factors, permitting for extra versatile utilization of your hard-earned rewards. Moreover, if you happen to additionally maintain a Citi Premier® Card or Citi Status® Card (not accessible to new candidates), you possibly can convert your money again to totally transferable ThankYou factors for larger worth.
Let’s take a better have a look at the Citi Double Money.
The info for the Citi Status has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or offered by the cardboard issuer.
Citi Double Money welcome provide
There may be presently no welcome provide for money again on the Citi Double Money.
Nevertheless, the cardboard is providing an introductory 0% annual proportion fee (APR) for the primary 18 months from account opening for stability transfers. Be aware that you should switch a stability throughout the first 4 months to be eligible for the introductory 0% APR, and also you’ll must pay a stability switch charge of three% of every switch (minimal $5). After that, your charge will probably be 5% of every switch (minimal $5).
After the introductory APR interval, the variable APR is eighteen.49%-28.49% based mostly in your creditworthiness.
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Be aware that you simply gained’t earn money again on stability transfers. If you happen to switch a stability, curiosity will probably be charged in your purchases except you pay your total stability (together with stability transfers) by the due date every month.
Associated: The very best 0% curiosity bank cards
Incomes rewards with the Citi Double Money
Cardmembers earn 1% money again after they purchase and 1% after they pay for his or her purchases. Nevertheless, money again will probably be robotically earned within the type of ThankYou factors (with restricted transferability).
This card is common with many cardholders as a result of its incomes fee is constant. There are not any class bonuses and no restrict on the money again you possibly can earn.
Your card account have to be present to earn rewards. This implies you should pay no less than the minimal cost due by the primary day of every billing interval — though it’s greatest observe to all the time pay your assertion in full, if potential. Additionally, your money rewards stability will expire in case you have not earned any money again on purchases or money again on funds for 12 months. Be aware rewards gained’t expire so long as the account is open.
Associated: The very best cash-back bank cards
Redeeming rewards with the Citi Double Money
Traditionally, the Citi Double Money Card solely earned cash-back rewards, with three choices to acquire money again as soon as your money rewards stability reached no less than $25; now, cardmembers don’t must hit that minimal quantity to redeem.
Moreover, the worth of this card elevated in March 2022 when Citi introduced that it could earn ThankYou factors robotically. That opens up plenty of choices, that are detailed beneath.
Redeem for money again
If you need the only redemption possibility, that is the one to go for. Every ThankYou level equals one cent in money again. You possibly can request this money again as a press release credit score or direct deposit (no minimal). Alternatively, you possibly can obtain a test within the mail ($5 minimal).
Switch to loyalty companions
If you happen to don’t have the Citi Premier or Citi Status card, you’ll solely have the choice to switch to 3 loyalty companions — Selection Privileges, JetBlue TrueBlue and Wyndham Rewards — none of which supply very excessive worth.
Nevertheless, if you happen to even have the Citi Premier or Citi Status, you possibly can mix the ThankYou factors out of your Citi Double Money Card with the ThankYou factors from certainly one of these playing cards. While you do that, you’ll have the ability to use your ThankYou factors as in the event that they had been earned by your Citi Premier or Citi Status, together with transferring your factors to Citi’s slate of airline and lodge switch companions.
Based mostly on TPG’s valuation of Citi ThankYou factors at 1.8 cents every, this implies you possibly can earn an efficient 3.4% return whenever you purchase and pay along with your Citi Double Money Card. That is the easiest way to get worth out of factors earned on this card.
Associated: Redeeming Citi ThankYou Factors for optimum worth
Different redemption choices
You can too redeem your ThankYou factors for present playing cards or use them to buy via Citi’s on-line procuring and journey portals.
Lastly, if you wish to share your ThankYou factors, you are able to do so by sharing them with one other ThankYou factors person or redeeming them for a charitable contribution.
Citi Double Money advantages
Sadly, the Citi Double Money Card doesn’t provide many different standout advantages or perks. Right here’s what you’ll get:
- Contactless cost along with your contactless-chip-enabled Citi card.
- Entry to Citi Leisure, which gives particular entry to buy tickets to hundreds of occasions.
- ID theft safety that helps get rid of the fear of id theft by monitoring and alerting cardholders if suspicious exercise is discovered.
- Entry to Citi Id Theft Options in case your private info has been stolen to commit fraud or theft.
Be aware that the Citi Double Money does incur international transaction charges when utilizing it overseas, so you may need to be sure to have an alternate card to swipe when touring outdoors the U.S.
Which playing cards compete with the Citi Double Money?
There are a selection of no-annual-fee bank cards with cash-back rewards that stack up with the Citi Double Money.
For added choices, take a look at our full listing of the perfect cash-back playing cards.
Learn extra: Bank card showdown: Citi Double Money vs. Chase Freedom Limitless
Is the Citi Double money value it?
The Citi Double Money is a good alternative if you happen to’re searching for easy cash-back rewards with out having to fret about spending classes. Nevertheless, if you happen to can pair it with one other Citi card, you may maximize the worth of its rewards.
If you happen to’re searching for a cash-back bank card the place you don’t have to fret about class bonuses and determining the perfect bank card to make use of for every buy, the Citi Double Money Card might very effectively be the appropriate card for you. Getting this card can be a good way to spherical out your incomes technique if you have already got the Citi Premier Card, Citi Customized Money℠ Card or Citi Rewards+® Card to maximise your Citi ThankYou factors.
Apply right here for the Citi Double Money Card
Further reporting by Emily Thompson, Ryan Wilcox, Chris Dong, Stella Shon and Benét J. Wilson.