Citi® Double Cash Card – 18 month BT offer Review
The 2% effective cash back is offered in a very creative manner. You'll receive the first 1% cash back when you make your purchase. The second 1% cash back is earned as you pay for those purchases, bringing the total to 2% cash back on everything you buy. This card tends to be a better fit for those who pay their balance in full each month. However, as long as you're paying the minimum due each month, no matter how long you take to pay off your purchases, you'll eventually get the extra 1% cash back for the full 2% effective cash back (math nerd alert: if you redeem for a statement credit, that reduces the amount you have to pay for purchases by 1%, making your overall cash back percentage 1.99% instead of 2%).
You can redeem your earned cash back in increments of $25 for a check, statement credit or gift card. There is also some fine print - your cash back rewards will expire if you haven't earned any cash back for purchases or payments for 12 months. Considering most people use their card at least once a year, it shouldn't be an issue.
In addition to the cash back, you can take advantage of a 18-month 0% intro APR on balance transfers. This is a fairly lengthy 0% intro APR, and can be very helpful for anyone wanting to transfer their balance from another high-interest card to avoid paying interest for 18 months. While you have to pay a 3% balance transfer fee for transferring a balance, but this one-time balance transfer fee is likely a lot cheaper than the ongoing interest you're paying on your current credit card — plus, you have 18 months to pay off the balance.
Citi® Double Cash Card – 18 month BT offer has the added bonus of being available to those with just good (instead of excellent) credit. This means if you have a ding or two on your credit report, you may still qualify for the card. That's great news, because cash back rewards and 0% intro APRs this good are usually only offered to those with excellent credit.
You will also get a free monthly Equifax FICO® Score with your card membership (a $192 value annually!). This is a handy piece of information as it lets you keep track of your credit score over time, which is very helpful in keeping an eye on your credit history. It is important to note that it only tracks your Equifax credit score, and not your TransUnion or Experian credit scores, but it's still a terrific card benefit.
Overall, just the fact that you'll get an effective 2% (or possibly 1.99%) cash back on every single purchase you make without having to spend in a particular category or register quarterly to receive rewards is remarkable. Plus, it offers a generous 18-month 0% intro APR on balance transfers. The combination of high cash back rewards and 0% intro APR make this card an incredibly strong contender for a place of honor in your wallet.
- Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- Balance Transfers do not earn cash back
- 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 14.24% - 24.24% based on your creditworthiness
- Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
- No categories to track, no caps on cash back, no annual fee*
- Earn cash back TWICE on every purchase: 1% cash back when you buy plus 1% cash back as you pay for those purchases, whether you pay in full or over time.
- No category restrictions, no caps, no enrollments in rotating categories.
- Redeem cash rewards for a check, statement credit or gift card.
- $25 minimum redemption amount.
Fees and APR
- Annual Fee: $0*
- Foreign Transaction Fee: 3% of purchase amount.
- Purchase APR: 14.24% - 24.24%* (Variable).
- Balance Transfer APR: 0%* for 18 months on Balance Transfers*, then 14.24% - 24.24%* (Variable).
- Balance Transfer Fee: 3% of each balance transfer; $5 minimum.
- *Additional details can be found on the Citi landing page.
|Features:||1% cash back on all purchases plus another 1% cash back as you pay for those purchases, whether you pay in full or over time|
|Purchase APR:||14.24% - 24.24%* (Variable)|
|Balance Transfer APR:||0%* for 18 months on Balance Transfers*, then 14.24% - 24.24%* (Variable)|
|Credit Needed:||Excellent, Good|
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