Difference between revisions of "Citi double cash card"
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| − | ''' | + | '''A standalone Citi Double Cash card is a decent no-annual-fee 2% cashback card, but we generally recommend some other options that have better purchase protections and don't charge a foreign transaction fees.''' |
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| + | '''But when combined with a Citi Premier and/or Citi Prestige card, the Citi Double Cash can be the best available general-purpose reward card. These other cards allow you to convert the cash you earn with the DoubleCash card into airline miles with a dozen different frequent flyer programs at a rate of 1 mile for 1 cent, boosting the Double Cash card into a card that essentially earns 2 flexible airline miles per dollar.''' | ||
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<li>'''The reason that we usually recommend the State Department or PayPal card is that they don' charge foreign transaction fees'''. Both the Double Cash and Fidelity card will charge fees when you use the card outside the United States. However, this may not be as big of a disadvantage as it first appears. If you are using a card that earns bonus rewards on travel spending, many of your overseas purchases will be made with that card, rather than your general-purpose reward card. And most people will have the option of avoiding fees, by using a different credit card for any remaining purchases.</li> | <li>'''The reason that we usually recommend the State Department or PayPal card is that they don' charge foreign transaction fees'''. Both the Double Cash and Fidelity card will charge fees when you use the card outside the United States. However, this may not be as big of a disadvantage as it first appears. If you are using a card that earns bonus rewards on travel spending, many of your overseas purchases will be made with that card, rather than your general-purpose reward card. And most people will have the option of avoiding fees, by using a different credit card for any remaining purchases.</li> | ||
| − | <li>'''The Double Cash card | + | <li>'''The Double Cash card generally worse purchase protections than the the other 2% cards'''. It doesn't offer any purchase protections, including extended warranty, price protection, return protection, or purchase protection. {{Link|purchase protections}}.</li> |
| − | + | <li>'''Rather than applying directly, you could downgrade another Citibank card to the Double Cash instead'''. This lets you avoid an additional credit card application, and the Double Cash doesn't have an signup bonus that you would be missing out on.</li> | |
| + | </ul> | ||
| − | + | === Converting to ThankYou points === | |
| − | + | Technically, all cardholders can convert cash earned from the Double Cash card into Citibank ThankYou points. But, if you don't have a Citi Prestige or Premier card, you won't be able to transfer these points to transfer partners or get extra value from purchasing airfare, so there isn't much reason to do so. You are better off with the cash. | |
| − | </ | + | |
| + | The only exception is if you want to purchase a JetBlue ticket. JetBlue points can be used to purchase any ticket, without worrying about special award space, at values of between 1 and about 1.5 cents each. Standalone Double Cash cardholders can convert cash to JetBlue points at 1.25 cents, giving them a little extra value on most flights. | ||
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| + | <blockquote> | ||
| + | However, if you have a Citi Prestige or Premier card, you can transfer to any of about a dozen different frequent flyer programs at a rate of 1 cent per point, allowing you to potentially get much more value from your points. | ||
| + | </blockquote> | ||
| + | |||
| + | For example, you can convert $250 of rewards into 25,000 Air France miles to purchase Delta tickets, into 25,000 Cathay Pacific miles to purchase American Airlines tickets, or into 25,000 Singapore Airlines miles to purchase United tickets. | ||
| + | |||
| + | These cards also let you earn bonus ThankYou reward cards on restaurants, travel, and other categories and frequently offer large signup bonuses to quickly boost the number of points in your account. | ||
| + | |||
| + | If you also have the no-annual-fee Rewards+ card, you'll get 10% back on the first 100,000 ThankYou points you redeem each year, making your rewards even more valuable. | ||
=== Other Notable Benefits === | === Other Notable Benefits === | ||
Revision as of 15:20, 23 September 2019
No annual fee
None
Signup Bonus Chart2% All Purchases
3% Foreign Transaction Fee
A standalone Citi Double Cash card is a decent no-annual-fee 2% cashback card, but we generally recommend some other options that have better purchase protections and don't charge a foreign transaction fees.
But when combined with a Citi Premier and/or Citi Prestige card, the Citi Double Cash can be the best available general-purpose reward card. These other cards allow you to convert the cash you earn with the DoubleCash card into airline miles with a dozen different frequent flyer programs at a rate of 1 mile for 1 cent, boosting the Double Cash card into a card that essentially earns 2 flexible airline miles per dollar.
Jump to:
Using as your General Purpose Reward Card
- 2% is the best you can get from a no-annual-fee cashback card that doesn't have any restrictions or caveats. All the credit cards that earn higher reward rates either have annual fees or only work for specific subsets of travelers. Lua error in Module:Link at line 366: attempt to index field '?' (a nil value)..
- There are four major no-annual-fee options that earn 2% cashback. These are the State Department, PayPal, Fidelity, and Double Cash cards. The Double Cash gives you 1% back when you make your purchase, and an additional 1% when you pay off your bill. But, since you should be paying off your bill every month, you'll earn essentially the same rewards from each of these cards.
- The reason that we usually recommend the State Department or PayPal card is that they don' charge foreign transaction fees. Both the Double Cash and Fidelity card will charge fees when you use the card outside the United States. However, this may not be as big of a disadvantage as it first appears. If you are using a card that earns bonus rewards on travel spending, many of your overseas purchases will be made with that card, rather than your general-purpose reward card. And most people will have the option of avoiding fees, by using a different credit card for any remaining purchases.
- The Double Cash card generally worse purchase protections than the the other 2% cards. It doesn't offer any purchase protections, including extended warranty, price protection, return protection, or purchase protection. Automatic Protection for the Things You Buy with Your Credit Card.
- Rather than applying directly, you could downgrade another Citibank card to the Double Cash instead. This lets you avoid an additional credit card application, and the Double Cash doesn't have an signup bonus that you would be missing out on.
Converting to ThankYou points
Technically, all cardholders can convert cash earned from the Double Cash card into Citibank ThankYou points. But, if you don't have a Citi Prestige or Premier card, you won't be able to transfer these points to transfer partners or get extra value from purchasing airfare, so there isn't much reason to do so. You are better off with the cash.
The only exception is if you want to purchase a JetBlue ticket. JetBlue points can be used to purchase any ticket, without worrying about special award space, at values of between 1 and about 1.5 cents each. Standalone Double Cash cardholders can convert cash to JetBlue points at 1.25 cents, giving them a little extra value on most flights.
However, if you have a Citi Prestige or Premier card, you can transfer to any of about a dozen different frequent flyer programs at a rate of 1 cent per point, allowing you to potentially get much more value from your points.
For example, you can convert $250 of rewards into 25,000 Air France miles to purchase Delta tickets, into 25,000 Cathay Pacific miles to purchase American Airlines tickets, or into 25,000 Singapore Airlines miles to purchase United tickets.
These cards also let you earn bonus ThankYou reward cards on restaurants, travel, and other categories and frequently offer large signup bonuses to quickly boost the number of points in your account.
If you also have the no-annual-fee Rewards+ card, you'll get 10% back on the first 100,000 ThankYou points you redeem each year, making your rewards even more valuable.
Other Notable Benefits
With the regular version of the Double Cash card, you'll get:
You can call and request that your card be upgraded to a World Elite Mastercard version, which will provide access to some additional benefits:
- Elite car rental status. As with all World Elite MasterCards, you get free National Emerald Club Executive and Sixt Platinum status. Instant Car Rental Elite Status.
- Access to Mastercard's luxury hotel program. Another benefit of high-end MasterCards is access to MasterCard's luxury hotel program. When you use the program to book one of the participating hotels, you'll get a number of valuable benefits, like free breakfast, a $100 hotel credit, a room upgrade, and late checkout.Take Advantage of Luxury Hotel Programs for Valuable Extra Perks.
- Free ShopRunner membership. Like all World Elite MasterCards, your card entitles you to a complimentary ShopRunner membership, which provides free two-day and return shipping from around 150 of the largest online retailers. ShopRunner.
- DoorDash and Hello Fresh discounts. Cardmembers who have a DoorDash membership get $5 off their first two orders each month when paid for by their Mastercard. If you don't have a free membership from Chase, you can get your first three months membership for free through Mastercard. You also get a 5% credit back on each HelloFresh purchase.
- Some additional discounts. If you pay for at least 3 Lyft rides each calendar month with your Mastercard, you'll receive a $5 Lyft credit good for the following month (once you enroll in the Lyft app). You also receive double Fandango points, a 5% reward rebate at Boxed, and $5 off every Postmates order of $25 or more.
Getting Rid of the Card
If you want to get rid of this card, make sure to cash out your rewards before you cancel the card, and consider converting to a no-annual-fee Citi Dividend card, which earns 5% on the first $6,000 of spending each year in a rotating set of categories.