The Citi Double Cash® Card is already a favorite catch-all card for purchases that don’t fall into bonus earning categories (Citi is a Forbes Advisor partner). The no annual fee card earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. For cardholders that don’t carry a balance, this flat 2% cash back on every purchase—1% when you buy and 1% when you pay may outshine even the best cash-back credit cards depending on your spending habits.
The perks of the Citi Double Cash® Card just got a bit sweeter. While the card usually doesn’t come with a welcome offer, Citi has now added one, allowing new cardholders the opportunity to earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Citi Double Cash® Card
The Citi Double Cash card’s simple cash back structure and long-lasting balance transfer APR offer make the Citi Double Cash a favorite among those who want to set it and forget it. It offers a solid cashback rate on all purchases and 0% intro APR on balance transfers, all without an annual fee.
- Earn up to 2% cash back—1% when the purchase is made and 1% when payment is made on the account
- No cash-back cap—no limit on the amount of cash back that can be earned
- No annual fee
- Introductory APR period for balance transfers
- Foreign transaction fee
- Balance transfer fee
- Lack of benefits seen in other no annual fee cards
- No introductory 0% APR on purchases
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% – 29.24%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Citi Double Cash $200 Welcome Offer
The new welcome offer brings it in line with other cash-back credit cards on the market. Cardholders can now earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. The bonus offer will be fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back.
Effectively a 2% cash-back—1% when you buy and 1% when you pay card, you can earn flat-rate rewards on any purchase regardless of category, which makes it a handy card to use in addition to (or instead of) cards that earn bonus rewards for certain spending categories.
Ways To Redeem Your Citi Double Cash Welcome Bonus
Although the welcome offer is advertised cash back, your bonus will come in the form of Citi ThankYou Points, which offer a bit of flexibility when it comes to redemption options.
If you prefer no-frills cash back, you can redeem your 20,000 ThankYou Points in the form of a $200 statement credit, direct deposit or check by mail.
With the Citi Double Cash® Card, you can also redeem your points for gift cards, use your points to pay for online shopping at participating merchants or share your points with other Citi ThankYou members. Redemption rates can vary, so do the math to make sure you’re getting the best value of your points.
Finally, Citi Double Cash cardholders can redeem points for travel or transfer their points to Citi’s travel partners. Keep in mind: Citi limits the points transfer options on its no annual fee cards to the following partners:
However, there are ways to get around this. If you hold a premium Citi card such as the Citi Prestige® Card* (no longer open to new applicants), you can combine your points with the welcome offer received from your Citi Double Cash® Card. You can then transfer these points to Citi’s full list of partners, including:
- Aeromexico Rewards Club
- Air France/KLM Flying Blue
- ALL-Accor Live Limitless
- Avianca LifeMiles
- Cathay Pacific Asia Miles
- Choice Privileges Rewards
- Emirates Skywards
- Etihad Guest
- EVA Air
- Leading Hotels of the World Leaders Club
- Qantas Frequent Flyer
- Qatar Privilege Club
- Singapore Airlines Krisflyer
- Thai Air Royal Orchid Plus
- Turkish Airlines Miles&Smiles
- Virgin Atlantic Flying Club
- Wyndham Rewards
- Shop Your Way
You can typically transfer points on a Citi premium card at a 1:1 ratio to partners. Keep an eye out for rates that vary however, as this could boost or deplete the value of your points. For example, 1,000 Citi ThankYou Points equates to 2,000 Choice Privileges Rewards points when transferring. This could make your 20,000 point welcome bonus an effective 40,000 points that you can redeem toward your next Choice hotel stay.
Best Citi Credit Cards Of 2024
Additional Cash Back on Citi Travel Purchases
Alongside the welcome offer, the Citi Double Cash® Card is running a limited-time offer allowing cardholders to earn even more cash back. From now through December 31, 2024, cardholders will receive an additional 3% cash back on hotels, car rentals and attractions booked through the Citi TravelSM portal.
The Citi TravelSM portal launched in March and is powered by Booking.com, offering cardholders access to the platform’s inventory of hotels, flights, car rentals and activities. For frequent travelers, this additional cash back could be another reason that makes this card a worthwhile addition to your wallet.
Bottom Line
Citi’s new welcome offer on the Citi Double Cash® Card makes it an even stronger contender for those looking for a new 2% cash-back—1% when you buy and 1% when you pay card. Although $200 cash back is already sweet enough, some strategizing with other Citi cards could help you build more value into this welcome offer—that is, if you’re willing to get approved and meet the spending threshold.
