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We’ve never seen an offer like this on the Citi Double Cash — you can earn a $200 bonus for a limited time.
Citi Bank; Insider
The Citi® Double Cash Card is one of our favorite cash-back cards because of its strong earning rate.
It almost never offers a welcome bonus, but that’s changed for a limited time.
New cardholders can now earn Citi® Double Cash Card, but the offer won’t be around forever.
Read Insider’s guide to the best rewards credit cards.
The Citi® Double Cash Card has always ranked highly on our list of the best cash-back credit cards, and for good reason. It’s one of the rare cards that earns 2% cash back on all purchases (1% when you buy, and 1% when you pay) without an annual fee, and it also comes with a very generous intro APR on balance transfers.
However, there’s been one major drawback: The Citi® Double Cash Card usually doesn’t offer a welcome bonus. But now, for a limited time, new cardholders can earn Citi® Double Cash Card.
That’s a solid deal, and similar to offers from other top no-annual-fee cash-back cards like the Wells Fargo Active Cash® Card and Chase Freedom Flex℠. If you’ve been on the fence about opening the Citi® Double Cash Card, now is the time to apply, because this offer won’t be around forever.
Here’s what to know about the Citi® Double Cash Card to help you decide if it’s right for you.
We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.
Citi Double Cash $200 bonus offer
The first thing to note about the new welcome bonus offer on the Citi® Double Cash Card is just how unusual it is. This card almost never offers an intro bonus, so this is a rare opportunity.
For a limited time, new cardholders can earn Citi® Double Cash Card. While it’s framed as a cash-back card, the Citi® Double Cash Card actually earns rewards in the form of Citi ThankYou points, which are worth 1 cent each when you redeem them for cash back and other rewards.
You’ll earn 2 points per dollar (1 point per dollar when you make a purchase, and 1 point per dollar when you pay it off) on all purchases, with no limits or categories to keep track of. That’s effectively worth 2% cash back.
The other big appeal of the card is its introductory 0% APR offer. New cardholders receive a Citi® Double Cash Card, followed by a Citi® Double Cash Card APR. With interest rates on the rise, this offer has the potential to save you a ton of money if you transfer balances from other high-interest cards.
Here’s our review of the Citi Double Cash for a full rundown of the card.
How to use points from the Citi Double Cash
The Citi ThankYou points you earn from the Citi® Double Cash Card are incredibly flexible. Along with redeeming them for cash back, you can use points at a rate of 1 cent each for gift cards or travel booked through the Citi ThankYou travel portal.
The card also gives you the option to transfer points to a limited set of partners: JetBlue (5:4 transfer ratio, so 1,000 Citi ThankYou points equals 800 JetBlue points), Wyndham (5:4 ratio), Choice Privileges (2:3 ratio), and Sears Shop Your Way Rewards (1:10 ratio).
The Citi® Double Cash Card becomes a lot more appealing from a transfer perspective if you also have the Citi Premier® Card, because you can combine points between your accounts. With the Citi Premier® Card, you can access Citi’s full range of airline and hotel transfer partners, including Air France-KLM Flying Blue, Singapore Airlines, and Virgin Atlantic.
By moving rewards from the Citi® Double Cash Card to the Citi Premier® Card and then transferring to partners, you have the opportunity to get even more value from your points. Read our review of the Citi Premier card to learn more about this option.
Citi ThankYou points are worth, on average, 1.6 cents each according to Insider’s latest points and miles valuations, based on the higher value you potentially get from transferring to partners and booking award travel.
Keep in mind that the Citi® Double Cash Card doesn’t come with a ton of ongoing benefits, like travel insurance or purchase protection. If perks like that are important to you, a different card might be a better fit.
Other cash-back cards to consider
If you’re looking for a no-annual-fee cash back card that earns strong rewards on all purchases, the Citi® Double Cash Card isn’t the only option. Its main competitor is the Wells Fargo Active Cash® Card, which offers a Wells Fargo Active Cash® Card and earns 2% cash rewards on purchases with no limits.
It also has an intro APR offer, which isn’t quite as long but has a broader appeal. New cardholders receive a Wells Fargo Active Cash℠ Card (then a Wells Fargo Active Cash℠ Card APR).
The Wells Fargo Active Cash® Card also comes with more ongoing benefits compared to the Citi® Double Cash Card, including cell phone protection, travel emergency assistance services, and access to the Visa Signature concierge. Here’s our Wells Fargo Active Cash review with all the details.
For more top options, be sure to check out our guides to the best cash-back credit cards and best no-annual-fee cards to find the right card for you.