Watch out! We share smart shopping and personal finance tips to put extra money in your wallet. Android Central may earn commissions from The Points Guy Affiliate Network. Please note that the offers mentioned below are subject to change from time to time and may no longer be available.
Best answer: No, the Citi Double Cash credit card does not have an annual fee associated with it. You can use the card, and all the benefits are excellent, without paying an annual fee.
- More card details: Citi® Double Credit Card
The Citi® Twin Cash Card is one of the lowest cash credit cards on the market right now. This is the only credit card that gives you cash twice: 1% when you make a purchase. And another 1% when you pay your bills. This is a great card that pushes you through its rewards system to be financially smart, but how much does it cost? What kind of annual fee do you have to pay to own this card?
Thankfully, the Citi® Double Cash Card does not actually charge any kind of annual fee. This is one of the best “no annual fee” cash credit cards out there right now. This does not mean that this card does not have any fees. You must pay foreign transaction fees with this card, so the card cannot be used while you travel internationally.
You will also have to pay a fee if you want to take advantage of the balance transfer offer included with this card which gives you 0% APR introduction on balance transfers for 18 months; after that, the APR variable is 15.49% – 25.49% based on your credit score. The fee for balance transfers is $ 5 or 3% of the amount of each transfer, whichever is greater.
The Citi® Double Cash Card also comes with added benefits like Citi Entertainment, which gives you exclusive access and pricing to concerts and sporting events. This card also includes Credit Card Protection and Purchase Protection. This is a great card that focuses on getting your cash while remaining financially responsible. If you want to know more about this card, here is everything you need to know.
Double the fun
Citi® Double Cash Card
Get cash twice. Earn 2% on every purchase with unlimited 1% cash when you buy, plus an extra 1% when you pay for the purchase. To get cash, pay at least the minimum that needs to be paid on time. Balance Transfer Offer: 0% introductory APR on Balance Transfer for 18 monthsupon completion within four months of approval. After that, the APR variable will be 15.49% – 25.49%, based on your credit worthiness. Balance transfers do not receive a cash refund. If you transfer a balance, interest will be charged on your purchase unless you pay your entire balance (including balance transfers) on the last date of each month. There is a balance transfer fee of either $ 5 or 3% of the amount of each transfer, whichever is greater. The standard APR variable for Citi Flex Plan is 15.49% – 25.49% based on your credit score. The Citi Flex Plan offer is provided at Citi’s discretion.
The cash credit card is a flexible alternative to miles cards, gas cards and other special reward cards. However, cashback programs are often complex, with multiple reward levels and confusing restrictions. The Citi Double Cash Card eliminates tiered rewards, pivotal purchase categories and quarterly spending limits, giving cardholders the flexibility of cash rewards without any complexity. Issued by Citibank, a subsidiary of Citigroup (C), the Citi Double Cash Card is an attractive option among the best cash credit cards available today.
Rewards and Benefits
As the name suggests, the Citi Double Cash Card pays cardholders two cash back rewards. The first reward pays out 1% cash for every dollar spent on the card. The second reward pays out another 1% cash for every dollar paid for the account balance. This means that a cardholder who pays off the full balance of the card each month accumulates a total of 2% cash for every dollar spent almost immediately. The cardholder who carries the monthly balance on the card receives a second reward of 1% at a slightly slower rate as the balance is paid out.
This card has no annual fee and comes with a 0% introductory annual percentage rate (APR) on all purchases and balance transfers for the first 15 months of card ownership. In addition, cardholders have access to a wide range of consumer protection benefits from Citibank, including theft and fraud protection, damage and theft protection for purchases, and several travel insurance programs. The Citi Double Cash Card even provides late payment forgiveness if you miss a card payment.
To redeem cash rewards, cardholders must first accumulate a reward balance of at least $25. Rewards are redeemable in the form of a cheque, card statement credit or credit in a linked Citibank checking or savings account. Various gift cards in several denominations are also available for redemption.
When the 15-month APR introductory period ends, the APR increases to 12.99% and 22.99% depending on the creditworthiness of the cardholder. The new APR applies to both purchases and balance transfers. The cash advance is 25.24%. While the cash balance is usually poor, cardholders should also avoid carrying over the balance on that card. With a minimum annualized rate of 12.99%, interest rates quickly erase any benefits from the cash reward program.
The Citi Double Cash card has several worthy competitors, including the Discover It Card. The Chase Freedom Card, and the Blue Cash Everyday Card from American Express. These cards have attractive cash back programs and introductory 0% APRs. And none of the cards has annual fee. However, these cards cannot match the combination of simplicity and value found on the Citi Double Cash board. While other cards may offer 2%, 3% or even 5% cashback opportunities. There are usually purchase limits and spend limits to reduce the overall cost of these opportunities. The Citi Double Cash card has no purchase limits or spending limits.
While the Citi Double Cash Card stands out for its 2% reward combined rate, the card does not offer any additional cash bonuses for new cardholders. Other cash back cards, including the Chase Freedom Card and the Blue Cash Everyday Card from American Express, for example, offer an automatic $100 bonus against the required amount of cash in the first three months of card ownership.
Who needs it?
This card is a terrific option for large members and anyone. Who doesn’t want to worry about purchase category twists and other complicated refund rules. While cautious cardholders can squeeze as much value out of other cash back cards. The Citi Double Cash card returns exceptional value without fuss. Given the options currently available, no amount of fuss is bad for a cash back card.