The Citi Double Cash Card is my favorite credit card, not only because it has no annual fee, but also because of the rewards. It is the highest paying reward card out there. I chose this card because of the cash back I can receive, and that there is no fee to use it. You get 2% back on every purchase you make. Can't beat that!

I got my Citi Double Cash Card a few months ago. Initially I was drawn to this card because of the 0% intro rate on purchases and on transfers. There was only a $35 late fee, which seemed fair to me. I have enjoyed having this card, but its nothing special either.

I too received the same "prequalified" numbered invitation, and when I formally applied online with the conformation # I was rejected....but what pisses me off the most is that checking my credit score Citi bank looked at my credit TWICE BACK TO BACK-looked once, then looked a second time on the same day! Credit Karma, shows the "hard inquiries" and my score dropped 4 points for each time they inquired. Again, I lost 8 points on my credit score in one day because of the two "hard inquires" made BY Citi! Yes, I was "preapproved" but was rejected and all the while lost valuable points on my credit score because they looked! What kind of business is this that this organization can trick you into such a thing, then let you be punished for their mistakes? Beware Citi cards.........

The Citi Double Cash Card is chalk full of rewards and perks for those customers who use the card and make their minimum monthly payments on time. Even if you aren’t always able to do that, the late fees with this card are just not that bad and the interest rate is pretty low, especially for a card that comes with so many bonuses. Another perk of this card is that Citi’s staff is incredibly able and willing to help you understand all your options and also to help rectify any problem that may arise with your card, whether or not it was your fault. Overall this is a very good card.

This card offers 2% everywhere which is stellar. It also has a lot of new security features which protect you against fraud.

The Citi Double Cash Card offers a lot of great rewards. Some of the best include Price Rewind and Citi Private Pass. There are no caps or category restrictions.

Cost:

There is no annual free and a 12.99 to 22.99 percent APR that is subject to your credit rating. Even on the high end of 22.99% this is still not bad considering some of the other cards on the market. There is no over the limit fee. The max late fee is $35 and the max penalty APR is 29.99%. You can get cash advances at a rate of 25.24% APR with a cash advance fee of 5%.

Benefits:

There is a 23 day grace period. You can enjoy a late fee pass on your first late fee too. This is the only card that offers double cash back. You get 1% when you make your purchase and another 1% as you pay for the item. Citi also offers the Citi Private Pass that allows you to purchase tickets to concerts, VIP passes, live shows, and other entertainment. You have access to presale tickets as well. One of the best features is the Price Rewind that will search for a lower price on your purchases for up to 60 days. If a lower price is found you are refunded the difference up to $300. If you've lost your card Citi will replace it, usually within 24 hours, via the Lost Wallet Service. In addition, they provide you with emergency cash subject to your available cash advance limit. The Trip Cancellation and Interruption Protection ensures that if things get in the way of your trip, you may be reimbursed for non–refundable trip expenses, like change fees, up to $1,500 per year. Other features include worldwide car rental insurance, concierge service, identity theft protection, and an extended warranty. If for some reason you need to call, you get to speak to a person instantly without having to wait.

Other Pros and Cons:

The card is lightweight and flexible. It is accepted nearly anywhere and uses a chip (which means you insert it rather than swipe it). On the con side, some of the online features may be a bit on the slow side or difficult to use. Also, the rewards will expire if you don't use your card for a year. You may redeem rewards once you have a minimum of $25. You can redeem cash back for checks, statement credits or gift cards.

The competition:

In comparison to the Capital One Quicksilver the extra .5% cash back rate is better than Capital One's 1.5% cash back rate. Capital One offers a $100 signing bonus that the Citi card does not offer. Which card is actually better would depend on how long the card is being used and how it is being used. When compared to the Fidelity Investment Rewards card the two cards are almost equal. Both offer 2% cash back and neither have a signing bonus. The Citi Double Cash card, however, has less restrictions when using the card. Also, the Fidelity cards rewards run on the American Express network, which may not always be accepted at some locations. The Citi Double Cash card is a Mastercard which is accepted nearly everywhere.