Yes, Citi Double Cash Card rewards expire if you don’t make a single purchase or bill payment for a full year. Citi Double Cash Card works by offering 2% cash back on every purchase - half when you make a purchase and the other half as you pay for it. If you haven’t earned cash back on either purchases or payments for longer than a 12-month period, your rewards will expire. Similarly, Citi Double Cash Card rewards expire if you don’t redeem your remaining balance when you close your account. And you won’t be able to earn cash back rewards unless you keep your account current by making at least your minimum payment by the first day of your next billing cycle.
These might seem like negatives. But most rewards cards have these rules. And look on the bright side: It’s pretty easy to avoid losing your rewards.
How to Make Sure Your Citi Double Cash Card Rewards Don’t Expire
Make at least one purchase within a 12-month period. Simply spending a few dollars every once in a while will earn you cash back on purchases and help you avoid losing rewards due to inactivity.
Pay for your purchases. If you haven’t earned cash back by making a purchase or paying for one for longer than a 12-month period, your rewards will expire.
Keep your account current. Failing to make a minimum payment by the first day of your next billing period will not earn you cash back rewards for any purchases made during the billing cycle for which you failed to make the minimum payment. You will also not earn cash back for payments correlated with those purchases unless you reinstate them and make an eligible payment. You may request reinstatement of your purchases by calling Citibank at (855) 473-4583.
Regularly redeem your cash back. You can get your cash back as a statement credit, check or direct deposit to a bank account. This won’t reset the expiration countdown, but it will keep you from having much to lose.
You may also lose your rewards if Citibank closes your account due to irresponsible or illegal behavior. That includes fraud, misuse, abuse or not making the minimum payments for a long time
Yes, cash back rewards can expire with credit cards from 9 of the 10 biggest credit card companies. It’s most common for cash back credit card rewards to expire after the cardholder or issuer closes the account, or after a certain period of account inactivity. In general, you can avoid losing cash back rewards by redeeming often, using your card regularly, and keeping your account open and in good standing.… read full answer
When Cash Back Can Expire, by Major Credit Card Company:
American Express: Cash back rewards won’t expire unless you or Amex cancels your credit card account. However, American Express cardholders will not earn rewards during any billing period where a late payment occurs.
Bank of America: Cash back does not expire as long as your account remains in good standing. This means your account must be open and must have charging privileges.
Barclays: Cash back rewards don’t expire as long as your account remains open and in good standing.
Capital One: Cash back rewards won’t expire unless you or Capital One cancels your credit card account.
Chase: Cash back rewards won’t expire unless you or Chase cancels your credit card account.
Citi: Cash back rewards expire if you don’t earn cash back on the card for 12 months.
Discover: Cash back never expires. If your account is closed or you haven’t used the card in 18 months, Discover credits your account with your cash back balance.
USAA: Cash back rewards expire 90 calendar days after your account closes for any reason. You can redeem cash back during this 90-day period by calling 800-980-8722.
U.S. Bank: Cash back expires 36 months after the billing cycle in which it is earned.
Wells Fargo: Cash back does not expire as long as the credit card account remains open.
It’s important to read the expiration policy thoroughly before you apply for a cash back credit card. Many of these rewards structures can change at any time, too, so be sure to keep an eye out for policy changes even after you have the card.
It is worth noting that Citi Double Cash Card has switched to the ThankYou rewards program. So, as of March 28, 2022, the Citi Double Cash Card cash back is earned in the form of ThankYou points. And any unredeemed cash rewards were automatically converted to the equivalent amount of ThankYou® Points. This upgrade offers more redemption options for cardholders.
Citi Double Cash Card redemption options:
Statement credit: With this option, you can redeem points for cash back with as little as $0.01.
Direct Deposit: You can redeem as little as $0.01 for cash that will be directly deposited to a Citibank checking or savings account.
Check: You can redeem your points for a check payable to you. The minimum redemption amount for a check is $5.
Gift cards: Trade points for gift cards in many categories, from clothing and department stores to electronics and restaurants. You can usually redeem at a rate of 1 cent per point, but certain gift cards may be on sale. It takes 1 to 3 weeks to receive a gift card after redeeming.
Travel: Use points to book flights, hotels, rental cars, cruises and more. The value of points can vary based on the type of travel, length of the trip and more.
Shop with Points: Use points to pay for purchases directly on a retailer’s website or get a statement credit for purchases after you make them. Points are worth 0.8 cents each with this option.
Other ways to redeem: The Citi Double Cash Card offers a few other redemption options. You can transfer points to partnered airline or retail loyalty programs at a 1:1 ratio, make charitable donations, make a payment toward a mortgage or student loan and more.
Citi Double Cash Card offers 2% back - half when you make purchases and the other half as you pay for them. Citi Double Cash Card rewards don’t expire as long as your account is open.
It depends on which Citi credit card you have. With some Citicards, such as Citi Premier Card, your points will never expire as long as your account is open. Others such as Citi Prestige® Card, will revoke unredeemed points if you don’t have any purchase activity for 18 months.
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