The Citi Double Cash Mastercard is a straightforward credit card for everyday purchases. Let’s examine some of its ins and outs.
FEATURES AT A GLANCE
- No annual fee
- 3% foreign transaction fee
- 2% cash back on everything (1% cash back on purchases plus another 1% when you pay your bill)
SIGN UP BONUS
The Double Cash card usually doesn’t have a sign-up bonus (SUB). Sometimes there are rare offers to earn a $50-100 bonus after spending $500 within your first three months of having the card, though this is likely to be an exclusive in-branch offer. You can keep an eye out for SUBs but they’re rare for this card—don’t count on finding one.
Citi often has 0% APR for 18 months on balance transfers, but since balance transfers are subject to fees, this isn’t worthwhile for most people.
OTHER BENEFITS OF THE DOUBLE CASH CARD
- World Elite Mastercard
- May include Purchase Protection and/or Extended Warranty (unverified)
Compared to other card issuers, Citi is light on benefits.
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 670+
Citi divides its cards into different “families.” You can only get a sign-up bonus once every 24-48 months per “family.” If you’re interested in multiple Citi cards, first get the one which isn’t the Double Cash, and save the Double Cash for last (since its bonus is always low to nonexistent).
MAXIMIZING REWARDS WITH THE DOUBLE CASH CARD
If you have a Citi Premier or Prestige card, you can transfer rewards (Citi ThankYou Points) to airline partners. In some cases, you may be able to get more than the standard $0.01 per point (1 CPP) when doing this. The value varies.
If you use your points with a Citi Rewards+ card, you’ll get a 10% bonus to redemptions, up to $100 worth of points per year. This can make the Double Cash 2.2% cash back instead of 2%.
We’ve heard rumors that it’s possible to get cash back on your cash back when paying off Citi cards, netting at least 4% cash back on everything. We haven’t tested this strategy ourselves yet, so its viability remains to be seen. Note that this isn’t for everyone, since it requires several steps and multiple credit cards with different banks, and risks getting your Citi account banned for potential alleged abuse. We may cover more about this strategy in a future article (TBD).
ALTERNATIVES TO THE DOUBLE CASH
For a general-use card, any of the best everyday cards will work. You’ll want to earn at least 2% cash back on all purchases. Some have sign-up bonuses or they don’t have foreign transaction fees. Some, like the Alliant Cashback card, can get more than 2% cash back.
High spenders will want to look into strategies like the Chase Trifecta or Bank of America Preferred Rewards.
To get 5% cash back in a single spending category, our favorite Citi card is the Citi Custom Cash Card.
CONCLUSION
The Citi Double Cash works best in combination with other cards (Citi Rewards+ at minimum) and various workarounds to squeeze out additional value. If you won’t use techniques for additional cash back, there isn’t any particular reason to go for the Double Cash. Its short-term value is low if you can’t get a sign-up bonus for applying. Other cards do similar things without foreign transaction fees and with sign-up bonuses.
If you’re a credit card expert, or someone who never travels overseas, the Double Cash can be good long-term. Otherwise, it’s questionable when compared to other credit cards. The Citi Double Cash was a strong card when it launched in 2014, but since then, dozens of competing cards have popped up. Double Cash is now a middle-of-the-road option instead of having a top spot.
We rate the Double Cash card 3 out of 5 stars. ⭐⭐⭐
Note: This review was last updated in May 2023. Details may have changed since then. Please do your own research where applicable, to ensure you’re getting the best deal. Or contact us directly to benefit from our personalized consulting services!