Is the Citi Double Cash Card worth it?

Citi is an advertising partner. The Citi Double Cash® Card can definitely be worth it, but it all depends on how you plan to use the card. For example, are you looking to earn a flat rate of rewards on all purchases or consolidate and pay down high-interest debt? Before you decide to apply for the Citi Double Cash, it helps to look at specific scenarios in which the card makes sense to hold. Is the Citi Double Cash a good rewards credit card for you? Our analysis below can help you decide.

When is the Citi Double Cash worth it?

Before you choose the Citi Double Cash over other rewards credit cards, it helps to know and understand all the main features you can access as a cardholder — and when these perks may be right for you.

You want a high, flat rate of cash back rewards

The Citi Double Cash offers one of the highest flat rewards rates out there. Once you’re a cardholder, you can earn a total of 2 percent cash back for each dollar you spend — 1 percent when a purchase is made and another 1 percent when it’s paid off. You’ll receive 1 ThankYou® Point per $1 earned, and there are no limits to the rewards you can earn. Rewards can be redeemed for a statement credit, direct deposit or check, as well as gift cards, travel and shopping with points at Amazon or via PayPal.

You need to pay off debt (but still want to earn rewards)

As a cardholder, you’ll get a 0 percent intro APR on balance transfers for 18 months (on transfers made in the first four months), followed by a variable APR of 18.74 percent to 28.74 percent. This makes the Citi Double Cash a good option if you need to consolidate and pay down credit card debt. And once you’re done paying off your balance, the opportunity to earn rewards makes the card valuable in the long run. Just keep in mind that you’ll pay a 3 percent balance transfer fee ($5 minimum), which jumps to 5 percent ($5 minimum) after four months of account opening. This means a $5,000 balance transfer would incur at least a $150 fee.

You have another Citi card and want to combine points

The Citi Double Cash allows you to earn cash back as basic ThankYou® points, which are deposited into your Citi ThankYou account. That means you can pool your points with other enrolled Citi credit cards. Further, if you hold a premium Citi card like the Citi Strata Premier℠ Card, you can pool and transfer your points to more Citi transfer partners, too. Bankrate valuations place Citi ThankYou points at around 1.0 cents apiece toward select high-value transfer partner travel — meaning 50,000 points could be worth $500 when transferred to airline or hotel partners.

When is the Citi Double Cash not worth it?

While the Double Cash is no doubt a top cash back credit card, it’s not going to be the perfect option for everyone. Here are a couple scenarios where you may want to look elsewhere:

You want a bevy of additional card benefits

If you’re considering the Citi Double Cash, note that the card is a tad light on additional card benefits. You won’t get travel perks like auto rental coverage, trip cancellation and interruption insurance or access to a travel hotline. You’ll also have to pay a 3 percent foreign transaction fee on purchases made outside the United States.

You want a 0 percent intro APR on purchases

It’s not uncommon for 0 percent interest cards to offer introductory periods on both purchases and balance transfers. Unfortunately, the Citi Double Cash doesn’t offer a 0 percent intro APR on purchases — only balance transfers. So, if you’re looking to pay off a large purchase in the future sans interest, you’ll want to choose a different credit card.

Should you get the Citi Double Cash Card?

The Citi Double Cash could work for almost anyone, including consumers who just want an easy-to-use, no-annual-fee credit card. The Citi Double Cash stands out among cash back credit cards due to its generous flat rate of rewards, which is higher than most others. Plus, you can easily pool your points if you hold another Citi card and potentially get more value. The Citi Double Cash also features a first-year welcome bonus. It offers a bonus of $200 cash back after you spend $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back. If you’re not interested in rewards but need to consolidate and pay down debt, the Citi Double Cash is still worth considering. While you’ll want to avoid using this card for spending while you pay down transferred balances, this card ranks among the best balance transfer credit cards thanks to its 18-month 0 percent intro APR offer (18.74 percent to 28.74 percent variable APR thereafter).

The bottom line

The Citi Double Cash is popular for a number reasons — primarily its exceptional rewards rate and intro APR offer on balance transfers. Just keep in mind that other credit cards may be worth considering, including options that give you rewards and a 0 percent intro APR on both purchases and balance transfers. Take the time to research other top cash back credit cards before you fully decide on the Citi Double Cash. It could be the best credit card for your wallet, but you should still compare all your options to be sure.