One of the old favorites in the cash-back credit card scene now has a new reason to love it. The Citi Double Cash Card* introduced the following limited-time offer to new cardholders in early August: Earn $200 for a limited time after spending $1,500 in the first six months of card ownership.
The Double Cash card made a splash a few years ago by offering a flat 2% cash back, while many cards only offer 1% to 1.5% cash back. Cardholders get 2% cash back on all purchases – 1% on purchases and 1% on withdrawals.
Since then, however, new competitors have emerged, such as the Wells Fargo Active Cash® Card, which offers a 2% cash bonus on purchases. Some of these cards feature welcome bonuses that Citi® Double Cash Cards typically don’t have. For example, Active Cash offers a $200 incentive bonus after you spend $1,000 in the first 3 months.
But with a new limited-time offer from Double Cash, the classic card is back in vogue. While spending requirements are a bit higher than some other cash back cards, you also have a longer period of time to earn them. Many cards require you to hit the target within three months of opening an account, while Double Cash allows double that time.
Double cash bonus payouts are reliable for cash back cards with no annual fee.
Just know that the Citi® Double Cash Card does not offer an introductory APR at the time of purchase. So, if you’re planning to fund a large project and need to spread the payments over a longer period of time, consider using the entry 0% APR card instead of making a new purchase.
Double Cash offers an introductory 0% APR on 18-month prepaid transfers. Thereafter, the standard variable APR based on credit is 16.24% – 26.24%. There is also an initial balance transfer fee of $5 or 3% of any transferred amount within the first 4 months of account opening, whichever is greater. After that, the fee is 5% of each transfer (minimum $5).
Redemption method
Rewards from Double Cash come in the form of CitiThank You Points. Redeem for cash back includes credit card points, linked bank account deposits and paper checks, each valued at 1 cent. Other redemption options include gift cards from various retailers and paying with points when shopping online at participating retailers.
You can also transfer points to Citi travel partners. If you only have Double Cash, only select privileges, JetBlue TrueBlue and Wyndham Rewards. However, with an eligible Citi travel card such as the Citi Prestige® Card*, you can use Citi’s full suite of airline and hotel partners, including programs such as Avianca LifeMiles, Singapore Airlines KrisFlyer, Turkish Airlines Miles&Smiles and Virgin Atlantic Flying Club . You can also use higher transfer rates if you have a partner card.
While the Citi Double Cash Welcome Bonus is rare, this is not the first limited-time welcome bonus offered by the Citi® Double Cash Card. During certain periods in 2018, new cardholders have the opportunity to receive a $150 bonus cash back after meeting the minimum spend requirement. However, the welcome offers on this map are few and far between.
Pokoknya
Anyone looking to earn a valuable welcome bonus with a premium cash back card should consider Citi’s limited-time offer. Earning $200 in bonus cash back is a solid payout, and giving yourself six months to hit your target payout is achievable for many consumers.
If you’re not sure if you want to claim double cash because you don’t have a welcome bonus, this offer could be the deciding factor in your claim.
However, anyone looking to earn a welcome bonus and avoid interest charges on larger purchases by taking advantage of the introductory 0% APR may prefer a different card. The Citi® Double Cash Card comes with an introductory APR offer on balance transfers, but not on purchases.
