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% if you make a purchase order and one other 1% if you pay it off — it’s tough to beat this no-annual-fee card. Plus, you’ll be able to convert your rewards to fully-transferable ThankYou factors with one other card. Card score*: ⭐⭐⭐⭐
*Card score relies 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% if you make a purchase order, plus 1% as you pay that buy off — with no annual charge.
Money again is routinely earned within the type of ThankYou factors, permitting for extra versatile utilization of your hard-earned rewards. Moreover, for those who additionally maintain a Citi Premier® Card or Citi Status® Card (now not out there to new candidates), you’ll be able to convert your money again to completely transferable ThankYou factors for larger worth.
Let’s take a more in-depth 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 supplied by the cardboard issuer.
Citi Double Money welcome provide
There may be at the moment 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. Observe that you need to switch a stability inside 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 shall 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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Observe that you just received’t earn money again on stability transfers. Should you switch a stability, curiosity shall 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 once they purchase and 1% once they pay for his or her purchases. Nevertheless, money again shall be routinely earned within the type of ThankYou factors (with restricted transferability).
This card is widespread with many cardholders as a result of its incomes fee is constant. There aren’t any class bonuses and no restrict on the money again you’ll be able to earn.
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 might earn ThankYou factors routinely. That opens up quite a few choices, that are detailed under.
Redeem for money again
If you would like the best redemption choice, that is the one to go for. Every ThankYou level equals one cent in money again. You’ll be able to request this money again as an announcement credit score or direct deposit (no minimal). Alternatively, you’ll be able to obtain a verify within the mail ($5 minimal).
Switch to loyalty companions
Should you 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 provide very excessive worth.
Nevertheless, for those who even have the Citi Premier or Citi Status, you’ll be able to mix the ThankYou factors out of your Citi Double Money Card with the ThankYou factors from one in all these playing cards. Whenever you do that, you’ll be capable of use your ThankYou factors as in the event that they have been earned by your Citi Premier or Citi Status, together with transferring your factors to Citi’s slate of airline and lodge switch companions.
Primarily based on TPG’s valuation of Citi ThankYou factors at 1.8 cents every, this implies you’ll be able to earn an efficient 3.4% return if you purchase and pay together with your Citi Double Money Card. That is one of the simplest ways to get worth out of factors earned on this card.
Associated: Redeeming Citi ThankYou Factors for max worth
Different redemption choices
You too can redeem your ThankYou factors for reward playing cards or use them to buy by Citi’s on-line buying 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 consumer 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 fee together with your contactless-chip-enabled Citi card.
- Entry to Citi Leisure, which offers particular entry to buy tickets to hundreds of occasions.
- ID theft safety that helps eradicate the concern of identification theft by monitoring and alerting cardholders if suspicious exercise is discovered.
- Entry to Citi Identification Theft Options in case your private info has been stolen to commit fraud or theft.
Observe that the Citi Double Money does incur international transaction charges when utilizing it overseas, so you will wish to be sure that to have an alternate card to swipe when touring exterior 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 extra choices, try our full checklist 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 for those who’re in search of easy cash-back rewards with out having to fret about spending classes. Nevertheless, for those who can pair it with one other Citi card, you will maximize the worth of its rewards.
Backside line
Apply right here for the Citi Double Money Card
Further reporting by Emily Thompson, Ryan Wilcox, Chris Dong, Stella Shon and Benét J. Wilson.
