The Citi Double Cash Credit Card, found at citi.com/applynowdoublecash, is a remarkably flexible card that is good at just about everything and a little more flexible than many other credit cards out there. This is a good all-purpose card with absolutely no specialization but that's not to say it doesn't come with perks.
In addition to decent overall cashback for purchases and paying them off, you also get customer service that excels in understanding. The first time you miss a payment, there is no fee. The same often goes for a returned payment or a second missed payment if you have a good reason and it's been months or years since your first.
The Citi Double Cash Card is a great credit card for anyone to have. It doesn't have a lot of standout features, but you could argue that's what makes it so versatile.
Not only that, but the Citi Double Cash Card also rewards you when you pay off your purchases, not just when you make them. Because of this feature, and how generous Citi is with missed payments, a lack of penalties, and the fact that this card doesn't require a great credit score could make this the perfect card for those just beginning to build credit.
The APR rate for purchases and balance transfers is 15.49% to 25.49% and will vary based on the prime rate. The rate you receive will be determined after you have Citi perform a hard pull on your credit at www. citi.com/applynowdoublecash. For cash advances, the interest rate is about 26.74% for all cardmembers, though it will vary with the prime rate.
In addition to these basic two interest rates, there is also the interest rate for the Citi Flex Plan. This is a separate payment method linked to your Citi credit card. The Citi Flex Plan has a separate interest rate which may match up to your basic credit card APR or not. Either way, the maximum APR is 25.49% and the minimum APR is 15.49%, in addition to the current prime rate.
Citi is somewhat more flexible about their credit limits than other credit cards. In addition to having a generous starting limit, most Citi cards, including the Citi Double Cash Card, allow some transactions beyond the credit limit.
However, cash advances are limited to a certain portion of that credit limit, or a certain ratio compared to your total available credit with Citi. How this is configured, or what these figures are, is not typically disclosed.
The Citi Double Cash Card isn't the only card that allows you access to Citi's Flex Plan (other invitations that aren’t www.citi.com/applynowdoublecash offers may include this), but this could be an important feature and it is exclusive to Citi cardholders. With the Flex Plan, you could get access to credit in addition to your card's credit limit, typically for large purchases paid over time.
These plans also come with their own credit approval process, interest rate, and may be considered a loan or count against your credit limit. There are also two types of plans. These are the Citi Flex Loan and Citi Flex Pay.
- Annual Fee – Annual fees are determined on a customer-to-customer basis, but most Citi Double Cash cardholders begin with no annual fee or are quickly able to upgrade to a card with no annual fee.
- Cash Advance Fee – The cash advance fee for the Citi Double Cash Card is $10 or 5% of the total of each transaction, whichever is greater.
- Foreign Transaction Fee – The foreign transaction fee for the Citi Double Cash credit card is 3% of the total of each foreign transaction in USD.
- Late Payment Fee – Each late payment may incur a fee of up to $40 added to your Citi Double Cash Card. However, your first missed payment will be accompanied by a warning, not a fee.
- Return Payment Fee - Each returned payment may incur a fee of up to $40 added to your Citi Double Cash Card.
- Authorized User Fees – Authorized users are approved on a case-by-case basis. If they are approved, there is no additional fee.
- Balance Transfer Fee - The cash advance fee for the Citi Double Cash Card is $5 or 3% of the total of each transaction, whichever is greater.
The Citi Double Cash Card is one of the best cards to have when you are trying to build a positive relationship with credit and make the best financial choices. This is simply because you get the most out of this card when you pay off your purchases as soon as your statement comes in.
The Double Cash feature of the Citi Double Cash Card that’s laid out in citi.com/applynowdoublecash mailers refers to the 1% back you get on purchases right away as well as the additional 1% you get back when you pay off that purchase. This reward can help reinforce this good behavior.
The best thing about this program is that it works on every purchase and there are no caps, no “1% cashback up to $1,000 per year.”
The Citi Double Cash Card is also the kind of card that almost always comes with a great introductory offer. This is usually a 0% APR offer for 12 to 18 months and may apply to purchases or balance transfers. In some cases, showing interest may get you a slightly better “exclusive” offer.
Pros – Advantages of the Citi Double Cash Credit Card
Most of what makes up the Citi Double Cash program is good news for cardmembers and their overall financial situation.
- $0 Liability for Unauthorized Charges – In the case of a stolen card or fraud, many cards will charge up to $50 no matter what. With this card, you won't be charged a dime and you will get in a new card right away, often in as little as 24 hours.
- Citi Flex Pay – If you ever need to get quick approval to spend a little more, this is one way to do it.
- Great Introductory Offer – 0% APR for over a year is hard to turn down.
- $0 Annual Fee – If you don't start with no annual fee, it's possible to get the fee removed by year two.
- Rewards for Paying Off Your Purchases – Not many cards reward you for paying off your balance.
- Unrestricted 2% Cash Back – No rotating categories or caps on how much you can earn with your Citi Double Cash Card.
Cons – Disadvantages of the Citi Double Cash Credit Card
There are a few, small disadvantages to the Citi Double Cash credit card.
- Few Special Offers and Reward Opportunities – 2% back on its own is great. However, many other cashback cards offer much higher cashback on occasion, through categories or partner offers.
- 3% Foreign Transaction Fee – This isn't billed as a great travel card and this fee is pretty standard for most credit cards in this range.
- Redemption Minimum – You need $25 in cashback before you can make a withdrawal from the program. However, cashback doesn't expire as long as you're in good standing and your account is open.
If you are already a responsible credit card user and want 2% back on all of your miscellaneous purchases, the citi.com/applynowdoublecash offer is hard to beat. The same goes for anyone trying to get back on track with credit cards, or just getting interested.