Best 0% APR Credit Cards

Citi Double Cash Card Review: Maximizing Cash Back on Every Purchase

Citi Double Cash: 2% back on everything, $0 annual fee, and balance transfer perks.

Rickie C. Keys, Ph.D., MPH

Mar 30, 2024 — 1 min read

Features

APR Range:
- Purchase APR: 13.99% to 23.99%, variable based on creditworthiness.
- Balance Transfer APR: Same as purchase APR, applicable to transfers.
- Cash Advance APR: 25.24%, variable.
- Penalty APR: Up to 29.99%, variable, may apply after late payments.
Annual Fee: $0, making it a cost-effective option for budget-conscious users.
Rewards:
- Type: Cashback on all purchases.
- Earning Rates: 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Balance Transfer Offer:
- An intrinsic APR of 0% for 18 months on balance transfers made within the first 4 months of opening the account, followed by a variable APR based on creditworthiness.

Benefits

Cash Back Rewards: Total of 2% cash back on purchases (1% when you buy, plus 1% as you pay), simplifying the rewards structure.
Introductory APR Offer: Helps manage debt with a 0% APR on balance transfers for 18 months.
No Annual Fee: Enhances affordability, especially attractive to those who prefer not to commit to an annual fee.
Flexibility in Payments: Earn cash back at the time of purchase and when paying off the purchase, incentivizing responsible credit management.

Drawbacks

No Sign-up Bonus: Lacks an initial welcome bonus, which might be less enticing than other cards offering introductory rewards.
Foreign Transaction Fees: 3% fee on foreign transactions, which could disadvantage travelers.
Limited Benefits: Fewer luxury benefits or additional perks compared to premium credit cards, focusing mainly on the cash-back feature.

Product Summary

The Citi Double Cash Card is highly efficient for those seeking straightforward cash-back rewards without an annual fee. It offers a compelling 2% cash back on all purchases—1% at the time of purchase and an additional 1% upon payment. This structure encourages both spending and payment discipline. The 18-month 0% APR on balance transfers is an excellent feature for consolidating and paying off other credit card debts. However, the lack of a sign-up bonus and limited premium benefits might deter those seeking more immediate rewards or extensive travel and shopping perks.

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