CitiÂ® Double Cash Card â€“ 18 month BT offer has the highest no-fee flat-rate cash back credit card on the market. If you pay your balance in full and on time every month, you can earn up to double cash back on everything you spend. You Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. If you pay your statement balance in full and deposit the cash back into your checking account, you will have earned a nice 2%.
There is no cap on the cash back you can earn, and there are no rotating categories or requirements to opt into every quarter. If you are looking to earn a lot of cash back without a lot of work, this card could be right for you.
To get double cash back, you must emulate the habits of the savviest credit card holders: use your card, and pay it off in full each month. Do anything else, and you wonâ€™t get the full benefit of the double cash back reward.
With the CitiÂ® Double Cash Card â€“ 18 month BT offer, you Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.. So you get 1% cash back for every dollar you spend, and another 1% cash back for each dollar you pay off on your balance â€” on time â€” each month.
To get the maximum double cash back quickly, you should pay off your entire balance. However, as long as you pay the minimum each month, youâ€™ll eventually receive the double cash back, although youâ€™ll pay a lot more than 1% in interest each month.
When your balance reaches $25, you can choose to redeem your cash reward via check, direct deposit or statement credit to your Citi account. Beware: if you redeem with a statement credit, you wonâ€™t get exactly double cash back, but just shy of it depending on the size of the reward.
Choosing the direct deposit option will allow you to transfer your cash back directly to your bank account whether itâ€™s a Citi account or not. If you redeem via check, you should receive a paper check at the address you have on file in 7 to 10 business days.
You can also redeem with a statement credit, but you might notice you donâ€™t get quite double cash back. Since a $25 credit on your statement reduces the amount youâ€™d need to pay back by some amount, you technically get a little less than 2% cash back.
For example, if you redeem $1,000 in cash back for the year, youâ€™ll be shorted about $10 if you redeem your rewards with a statement credit. Assuming you paid off your balance each month, your cash back is reduced to about 1.98%. If you donâ€™t want to miss out on that gap, redeem via check or direct deposit. Also, remember Citi does not count a statement credit as a payment, so you still need to make at least your minimum monthly payment by the due date or youâ€™ll be charged a late fee.
Additionally, beginning in the fall of 2019, cardholders will be able to convert cash back rewards into Citi ThankYou points â€” which can be redeemed for gift cards, travel purchases at select retailers and more.
For more details on how to get your cash back, check out this article, where we show you step-by-step how to redeem your cash back with Citi.
Disclaimer: Your rewards will expire if you donâ€™t use your card for 12 months, so be sure to swipe at lease once a year, or redeem your cash before it expires.
Borrowers with Excellent, Good credit scores are likely to get approved for the CitiÂ® Double Cash Card â€“ 18 month BT offer. That means you can still get approved with a few marks on your credit report. Thatâ€™s unusual as rewards cards with a 0% introductory balance transfer offer like the CitiÂ® Double Cash Card â€“ 18 month BT offer are rare for those who lack excellent credit.
The CitiÂ® Double Cash Card â€“ 18 month BT offer has the following benefits and protections to cardholders:
The clearest advantage of the CitiÂ® Double Cash Card â€“ 18 month BT offer is that it offers the highest flat rate cash rewards program without an annual fee on the market. The cardâ€™s double cash back feature can be a valuable feature for those known to make most everyday purchases on a credit card, and pay the card balance off each month.
If you like things simple, the cardâ€™s flat rate on everything will make keeping up with rewards a breeze. Youâ€™ll earn 1% on everything you buy, so there wonâ€™t be any need for you to fumble through a stack of credit cards for a specific cash back card at the grocery store. It also eliminates stressing over when or by how much rewards categories might change on your current go-to card each quarter.
The cardâ€™s 0% for 18 months on Balance Transfers offer makes it a good choice for those seeking to consolidate debt, too. The cash back rewards wonâ€™t apply to your balance transfer, but youâ€™ll get 18 billing cycles to pay off the balance interest-free before the cardâ€™s higher ongoing interest rate kicks in, currently at 15.99%â€“ 25.99% (Variable) APR.
The CitiÂ® Double Cash Card â€“ 18 month BT offerâ€™s other benefits arenâ€™t bad either. The card also grants you free access to view your Equifax FICOÂ® Score, and the CitiÂ® Price Rewind benefit automatically reimburses you the difference on purchases made with your card if the price changes within 60 days up to $200 per item, and up to $1,000 per year. Terms apply.
You could pay the minimum each month and eventually see youâ€™ve redeemed your cash back. However, the reward really only benefits you if you pay your balance in full each month. If you donâ€™t, the full interest youâ€™ll be charged on your purchases will eclipse the double cash back benefit.
Although the balance transfer isnâ€™t the main perk the card has, itâ€™s important to note Citi charges you a balance transfer fee of 3% of each balance transfer; $5 minimum. Granted, the charge isnâ€™t much compared to the 16% on average youâ€™d be charged in interest on your balance each month if you donâ€™t transfer, but there are many, no-fee balance transfer alternatives (like the Discover itÂ® or Chase SlateÂ® cards) you could qualify for instead.â€™
The information related to the Chase SlateÂ® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.
Youâ€™ll pay to use this card overseas, and the fee isnâ€™t worth it if you can avoid doing so. The 3% foreign transaction fee youâ€™ll be charged to swipe makes the potential double cash back youâ€™d receive on the purchase trivial.
With the CitiÂ® Double Cash Card â€“ 18 month BT offer, you wonâ€™t get a sign-on bonus like youâ€™d get with other competing cash back cards like FidelityÂ® Rewards Visa SignatureÂ® Card ($100) or the Capital OneÂ® QuicksilverÂ® Cash Rewards Credit Card. Itâ€™s not a huge pitfall among the cardâ€™s best-in-class cash back offer and other perks, but itâ€™s something to consider when weighing your options.
Take care to redeem your cash back before you stop using the card! If you donâ€™t earn cash back on rewards with your CitiÂ® Double Cash Card â€“ 18 month BT offer for 12 months, your rewards will expire. If you plan to stop using the card â€” maybe you accepted the offer for a specific purchase, or simply for the balance transfer offer â€” make sure to redeem your cash back before adding it to your credit card graveyard.
The CitiÂ® Double Cash Card â€“ 18 month BT offer has the highest no-fee flat rate cash back reward on the market, but it might not be the best cash back card for you, depending on your spending habits.
Cards that only earn cash back in certain categories, for example, may work better for you. You might find you spend most of your income in a category such as groceries or gas, so youâ€™d earn a greater reward with a card that earns cash back only in specific spending categories or enjoy keeping up with rotating categories.
Next we compare how the CitiÂ® Double Cash Card â€“ 18 month BT offer compares to four other cash back credit cards:
The FidelityÂ® Rewards Visa SignatureÂ® Card earns cardholders Unlimited 2% cash back on everyday purchases. There is a $0 annual fee. The card is best for existing Fidelity customers, as the funds you earn must be deposited into a Fidelity account.
Borrowers with â€śgoodâ€ť credit need not apply for this card. Your credit score has to be above 700 to get approved for a line of credit with the FidelityÂ® Rewards Visa SignatureÂ® Card. Even then, you may be disappointed if youâ€™re not a big Fidelity customer as Fidelity bases its credit limits on the total amount of assets itâ€™s managing on your behalf.
If you donâ€™t mind paying an annual fee, the Alliant Cashback VisaÂ® Signature Card could be a viable alternative to the CitiÂ® Double Cash Card â€“ 18 month BT offer.
The Alliant Cashback VisaÂ® Signature Card offers an Unlimited 3% cash back during the first year; 2.5% cash back afterwards. Youâ€™ll also forgo a foreign transaction fee if you use the card overseas. The catch is, cardholders pay a $99 annual fee, waived the first year to hold the card. Only those with excellent credit and high income will qualify for this rewards offer.
With Chase FreedomÂ®, youâ€™ll automatically Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. The card also lets you Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.
The Chase FreedomÂ® card rotates rewards categories each quarter, so youâ€™ll need to look out for changes and opt in to the quarterâ€™s categories before you can start earning rewards in them. You also enjoy 0% Intro APR on Purchases for 15 months and a 0% Intro APR on Balance Transfers for 15 months (16.99% – 25.74% Variable, thereafter). You can also earn a $25 bonus when you add an authorized user and make your first purchase within the first three months.
If you qualify for the CitiÂ® Double Cash Card â€“ 18 month BT offer card, you have a good chance of qualifying for Chase FreedomÂ®, too. Borrowers with Excellent/Good credit scores have the best shot at getting approved for the Chase FreedomÂ® card.
The information related to Chase FreedomÂ® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.
With a card like the Blue Cash PreferredÂ® Card from American Express, youâ€™ll earn a larger amount of cash back in certain categories. The card awards holders 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), and 3% cash back at U.S. gas stations. The card also offers â€“ NEW 6% Cash Back on select U.S. streaming subscriptions & 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more. So, if your household spends big on gas and groceries, the rewards youâ€™d earn with a card like the Blue Cash PreferredÂ® Card from American Express will likely be greater that what you could earn with the CitiÂ® Double Cash Card â€“ 18 month BT offer.
Try using this tool to figure out which cash back card has the best ongoing program for your needs. Fill in how much you tend to spend each month in each spending category, and the system will generate recommendations based on your spending habits.
Overall, cash back cards can be a great way to put some extra money in your pocket, as long as you remember to pay your statement balance in full each month. Interest and late fees can eclipse your cash back earnings pretty quickly.
The CitiÂ® Double Cash Card â€“ 18 month BT offer is best for borrowers with Excellent, Good credit, who make everyday purchases with a credit card and have great payment habits. The double cash back feature is great if you already have the discipline to pay your statement balances off in full each month, and itâ€™s the only way the cardâ€™s reward offer is valuable. If you donâ€™t think you can consistently pay off your card each month, itâ€™s best to get the habit set in stone before trying a rewards credit card.
If youâ€™ve never had a rewards card, the CitiÂ® Double Cash Card â€“ 18 month BT offerâ€™s simple terms and flat rate cash back rewards make for a great starter rewards card and â€” so long as you pay your balance off each month â€” it can be a great way to earn extra pocket change without going into debt.
Youâ€™ll get up to double cash back on all of your purchases, which is the logic behind advertising the card as â€śDouble Cashâ€ť and not â€ś2% Cash.â€ť Youâ€™ll Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay., but if you choose to redeem your cash back via statement credit on your account, youâ€™re technically getting just shy of 2% cash back.
Yes, the cash back on the CitiÂ® Double Cash Card â€“ 18 month BT offer expires if you havenâ€™t used your card for 12 months.
Anything over 1.5% cash back is a good deal. There are some cards that offer more â€” as much as 5% or 6% cash back on purchases. But sometimes those offers are too good to be true. Banks donâ€™t like to lose money and will pepper the fine print with all sorts of limitations. For example, they may offer 5% cash back on only purchases at certain types of retailers and only for certain periods of time. And those categories may change every quarter, which can make it hard to keep track.
Donâ€™t let those cash back promises pressure you into spending more than you can afford. If you donâ€™t pay your statement balance in full each month, you could get slapped with sky-high interest charges. That would totally negate any benefit you might get from earning cash back. Cash back cards are only valuable if you can pay your bill in full and capture the entirety of your cash back rewards.
It depends on the card. Some cards allow you to redeem cash back dollar for dollar as a statement credit, which can help lower your total balance. Just keep in mind that applying cash back to your card statement does not count as a monthly payment. Other cards will increase the value of your cash back if you spend on certain categories, like travel. Review your terms carefully to be sure youâ€™re getting the most bang for your buck.
Find the card that fits your day-to-day spending needs best, beyond the flashy sign-up bonus offers and cash back promises. Pay your bill in full each month (spend only what you can afford to pay off).