One of the most commonly asked questions we get is if a particular credit card is worth it. My typical response is that a Citi Double Cash card is a good alternative because it earns 2% back on everything.
The Citi Double Cash card is one of the best foundation cards to have in your wallet, especially for college students.
- No annual fee
- Earn 1% unlimited cash back on every dollar you spend
- Earn an additional 1% on payments based on those purchases
- Redeem cash back for a statement credit, gift card, or a check
What we like:
- Unlimited cash back, no category restrictions
- Simple, no hassle, if you don't want to stress out about optimizing
What we hate:
- No signup bonus
- Bad travel redemption value
If the credit card you're considering doesn't earn at least 2% back, then the simple answer is to get the Citi Double Cash card.
For example, someone who spends $10,000 annually on various categories will most likely earn more in cash back than the travel card once you account for the annual fee. We're not taking into account point multipliers like transfer partners and travel portals. This assumes you prefer to cash out your points as a statement credit.
If you're someone who's trying to maximize everyday spend and not chase signup bonuses, then earning 2% is ideal for an everyday card.
There are few exceptions if you already have cards in certain ecosystems like American Express Membership Reward points.
The Citi Double Cash does have a high-interest rate, but keep in mind that for most of the cards we recommend, we're assuming you pay off your cards in full each month. If you are paying interest, focus on paying off debt first before adding more credit cards. There is a 0% interest rate for 18 months, but again, we don't recommend utilizing it.
Another thing to consider is that you do not earn cash back for balance transfers with this card.
The big selling point is that it earns 2% back on everything, especially for people who don't want to deal with maximizing category spend.
Citi Card Benefits
Access to tickets and events
Citi cards as a whole have exclusive access to Live Nation events. American Express also has similar perks for pre-sale tickets.
Citi allows you to price match if the price drops within 60 days of making a purchase. There are exceptions, so you need to read through the terms to make sure the item is eligible.
Citi cards include damage and theft protection. If you make a purchase and it's stolen or accidentally damaged, then you'll be reimbursed for the item or the damages.
Extended warranty covers a one year warranty period after the manufacturer's warranty. Terms and details apply.
Even though the Citi Double Cash isn't a travel card, you do receive some travel perks. Other travel benefits are collision damage waiver, trip interruption and travel insurance, and travel accident insurance that works worldwide. You do have to pay 3% foreign transaction fees.
How to get the card
1. Apply for it directly. You can view the Citi Double Cash details by clicking the link below
2. Downgrade a Citi card to the Citi Double Cash