Yes, Citi Double Cash actually gives 2% cash back. The card offers 2% cash back on every purchase (1% when you buy and 1% as you pay for those purchases) as long as you pay at least the minimum amount due every billing cycle.
The second half of the 2% cash back only applies to the amount you repay to Citi each month. That means you won’t get the full cash back rewards value on any purchase until you pay it off entirely.
It's worth noting that as of March 28, 2022, the Citi Double Cash Card gives its rewards in the form of Citi ThankYou points, redeemable for cash back via direct deposit, statement credit, or check. Each point is worth 1 cent, so the value of the rewards remains the same.
The Citi Double Cash Card annual fee is $0 per year. The combination of no annual fee and great cash back rewards on all purchases really helps the Citi Double Cash Card stand out from its competition. It’s not the only fee you need to worry about with the Citi Double Cash Card, though.… read full answer
Citi Double Cash Card Fees
Annual Fee: $0
Cash Advance Fee: 5% (min $10)
Foreign Fee: 3%
Balance Transfer Fee: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer
Here's how Citi Double Cash Card works: You earn 1% cash back on purchases made with Citi Double Cash Card, then you earn another 1% cash back when you pay the card’s bill. That means cardholders earn a total of 2% cash back, which is roughly double the average for a cash rewards card.… read full answer
To earn cash back, you’ll have to pay at least the minimum payment. The Citi Double Cash Card rewards system is unique compared to most other rewards cards, which reward purchases only – without providing the extra incentive to pay in full. So it’s understandable why people are sometimes confused by how it works.
Rewards aren’t the only aspect of the offer that might need some explaining, either. Aside from letting you earn twice the market rate with its 2% cash back, the Citi® Double Cash Card – 18 month BT offer lives up to its name yet again by offering an introductory APR of 0% for 18 months on balance transfers- that’s what “BT” stands for. Each balance transfer will get charged a 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer.
Here’s how the Citi Double Cash Card works:
It offers 2% cash back: Half when you make the purchase and the other half as you pay for those purchases. To earn cash back, you must pay at least the minimum due on time.
Cash back earnings can be redeemed as checks, statement credits, direct deposits to a Citi checking/savings account (must have used this account to pay a Citi Credit Card bill at least two times) and conversion to ThankYou Points.
Cash rewards expire if you don’t earn cash back from payments or purchases for 12 months.
Offers an introductory balance transfer APR of 0% for 18 months with a fee for each balance transfer: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer.
Charges a regular APR of 15.49% to 25.49% (V) that’s applicable to all purchases, but also balance transfers once the 18 months for the 0% introductory balance transfer APR are over.
Charges a 26.74% (V) cash advance APR, with every cash advance also incurring a 5% (min $10) fee.
Charges a 3% for purchases made while traveling outside the U.S. or through any internationally based merchants.
$0 annual fee.
Requires at least good credit for approval.
With its $0 annual fee, the Citi Double Cash Card costs are minimal, unless you carry a balance from month to month. Or, in the case of balance transfers, after 18 months, which is when the introductory balance transfer APR wears off. Its low costs coupled with its great 2% cash back rewards make the Citi Double Cash Card a great card for everyday spending.
You can have as many Citi cards as you want, as long as your credit and income are good enough to get approved for each. And considering how many good Citi cards there are, for a range of different needs, it’s no wonder people would want more than one. For example, you could use Citi ThankYou Premier to save on travel, Citi Diamond Preferred for 0% purchases and Citi Double Cash for everyday cash back. But you should be smart about your applications. You don’t want to bite off more than you can chew and begin missing payments. That would be very bad for your credit score. Even just having a lot of hard inquiries on your credit report in a short time will hurt your credit. And you don’t want to get rejected either. … read full answer
Here’s how many Citi credit cards you can have:
You can have an unlimited number of Citi cards, as long as you’re approved for each one.
You’re allowed to have more than one of any Citi card.
Rumor has it you need to wait at least 8 days between applications for any two Citi credit cards in order to be approved for the second. And you supposedly have to wait at least another 66 days before applying for a third. But Citi Customer Service says they have no information on such a rule.
Each additional Citi card you apply for will become slightly harder to get, as your income will need to support more potential spending. Having lots of income and excellent credit will help your odds.
If you want to get as many Citi cards as possible, your best bet is to apply for one a year. A hard inquiry from a credit card application only can hurt your credit for 12 months.
If you’re not approved for a card, that’s not necessarily the end of the line for you. There’s something called “reconsideration,” where you call customer service and ask them to take a second look at your application. If you have a bunch of Citi cards already, Citi might be willing to reduce the credit on some of them and give it back to you on a new card.
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