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Citi Dual Cash Card Overview
This is one of the easiest and most rewarding cash-back cards. With up to 2% cashback on all purchases when you buy, plus 1% cashback when you pay, it’s hard to beat this no-annual-fee card. Plus, now you have the option to trade your cashback for Thanksgiving.
The Citi Double Card is one of the best cash-to-cash cards because it earns up to 2% cashback on all purchases (1% on purchases and 1% on payments) with no annual fee. While the credit card appeals to many consumers who prefer the simplicity of cashback and fixed income, it’s also a great option for consumers who are already maximizing their Citi Thanksgiving points because if you hold a Citi” With the Prestige Card or the Citi Premier Card, you can convert your credit card cashback into Thanksgiving points.
This card isn’t the best for everyone, though, especially since it doesn’t offer a signature fee and also includes a 3% fee on foreign transactions. Still, with 2% cashback on every purchase, and with no limit to the amount of cash you can earn and no annual fee, it’s a pretty solid value proposition. Let’s take a closer look.
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Who is this card for?
If you value cashback, simplicity, and no annual fee, the Citi Double-Sided Cash Card is likely the card for you. There’s no need to decide which card to use on every purchase, like Chase’s trifecta, Amex trifecta, or the perfect combination of cash cards that don’t charge an annual fee, because you’ll earn 2% on every purchase of cash, you’ll earn 1% when you pay your bills.
Although you can use the Citi Dual Cash Card as a cash backup card, you can also transfer your cashback to ThankYou Points through a linked ThankYou account. If you also have a Citi Premier or Citi Prestige card, this gives you the ability to transfer your points to airline partners and redeem tickets.
However, if you want to buy a card purchased outside the US, this is not a card for you as it includes a 3% foreign transaction fee.
The Citi Double Card doesn’t offer a sign-up bonus, but it does offer an initial 0% APR on balance transfers for the first 18 months. Balance transfers must be completed within the first 4 months of account opening to take advantage of the introductory 0% progress report and you will be charged a fee of 5% or 3% of your transferred balance (whichever is higher). After the initial APR period, the variable APR is 13.99% depending on your credit level. You don’t earn cash from balance transfers. If you transfer your balance, interest will be charged on your purchase unless you pay the full balance (including balance transfers) by the due date of each month.
Key Benefits and Benefits
Unfortunately, the Citi Dual Cash Card doesn’t offer many outstanding benefits or benefits. However, you can use Citi Concierge Services, which may be a way to facilitate your travel, shopping, dining, entertainment, and everyday needs. In addition, you get the following benefits:
Pay your flawless Citi card with your contactless chip
Citi Entertainment, Special Opportunity to Buy Tickets for Thousands of Events
Free Shopper Membership, which provides two-day free shipping and free returns on eligible items when you shop at 140+ online stores
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Helps eliminate concerns about identity theft by monitoring and alerting cardholders of suspicious activity and providing identity theft protection
Citi Identity Theft Solutions’ free service if your personal information is stolen for fraud or theft
how to earn income
The Citi Double Card is popular with many cardholders because of its consistent profitability, no category bonuses, and no limit to how much cash you can earn. Earning income is simple: you earn 1% when you buy and 1% when you pay for statements. This means you can effectively earn a 2% return.
(Photo by John Gribben / The Point Guy)
However, your card account must be a current account to earn compensation. This means that you must make at least the minimum payment due on the first day of each billing period, although it is best practice to always pay statements in full when possible. Additionally, your Cash Rewards balance will also expire if you do not earn any cash from purchases or payments for 12 months.
How to redeem
Historically, Citi’s Dual Cash Cards have only earned cashback. Once your Cash Rewards balance reaches at least $25, you still have three options for earning cash:
Required to check at least $25, but not more than your total cash reward balance at the time of redemption
Credit the statement to your credit card account of at least $25, up to the total cash reward balance at the time of your redemption
credited to a Citi savings or checking account linked to you, or paid at least two credit card bills from a checking account
Now, you can also exchange your cashback to ThankYou Points through a linked ThankYou account, as long as your Cash Rewards balance is at least $1. With this conversion, the $1 cash reward becomes 100 Citi Thanksgiving. How you use your points depends on whether you hold a Citi First or Citi Prestige card.
If you have a Citi Prime Card or Citi Prestige Card registered in the same way as your Citi Dual Cash Card, you can combine the points generated from your Citi Dual Cash Card Cash Rewards with the points generated by your Citi Prime or Citi Prestige Card. You can then claim those points as earned by your Citi Prime or Citi Prestige. In particular, you can transfer your points to various airline forwarding partners. At 1.7 cents each, according to TPG’s valuation of Citi’s ThankYou, that means you’ll earn a real-world return of 3.4% when you buy and pay with your Citi Double Card.
If you do not combine your points with your “Thanksgiving Rewards” account associated with your Citi First or Citi Prestige Card, your Citi “Thanksgiving” points will have fewer redemption options. Instead, the only transfer partners you’ll see are JetBlue and Sears, neither of which offer particularly good value.
Which cards compete with the Citi Dual Cash Card?
The Citi Double Cash Card competes with other no-annual-fee, fixed-rate income cards such as the Chase Freedom Card and the Capital/Capital-Quick Silver Cash Rewards Card. To see how the Citi Double Card stacks up for consumers who just want to use the fixed-income card with no annual fee on all their purchases, check out the table below.
For this comparison, I used 2018 data on average consumer spending from the Bureau of Labor Statistics. I assume that the only expenses paid by credit card are food ($7,923), clothing and services ($1,866), fuel ($2,109), entertainment ($3,226), and personal care products and services ($768). If all these charges were paid with a credit card, the average consumer would put $15,892 on his or her credit card annually.