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The Citi Double Cash card is one of the most popular cards on the market at the moment. It’s a cash back card, which is what many card users prefer to take advantage of. While offers change regularly, the current terms and conditions make this card one customers find it difficult to resist. The way the cash back system works with this card is uniquely different than the standard cash back credit card, and it’s what causes it to stand out from the crowd of cash back cards available to consumers. It helps to understand how the card works.

Cash Back

In terms of cash back, the Citi Double Cash card offers 1 percent cash back for every dollar spent on every purchase. It’s average, and it’s what most cards offer. However, this card also provides customers with another 1 percent cash back on every dollar paid off each month. That means each purchase is worth 2 percent cash back when you pay off the balance of the card every month.

Interest Rates

citi-double-cash-credit-cardThe other factor that sets the Citi Double Cash card apart from the other cards on the market is its ability to allow customers a chance to pay off their debts without paying interest. Most cards offer a low APR to those with great credit, but they tend to offer a short 0 percent interest period. The Citi Double Cash card offers all new customers a solid 18-months of no interest on any balance transfer. You can pay off your credit card debts in 18-months without paying any interest if you transfer your balances to this card when you have the option.

The rate you have on your card depends on your credit score and credit history, but it’s going to rage anywhere from 13.24 percent to 23.24 percent once it kicks in. It’s important to understand interest accrues over the life of this card. If your balances aren’t paid off before interest kicks in at 18-months, you’ll see a hefty finance charge appear for the balance over the course of the past 18-months.

Award Limits

Cash back is not subject to expiration with this card. You can redeem your cash back as often as you like in the form of a statement credit, a check, or even a gift card. A great idea is to keep the cash back rewards on hand for something big, like the bill you receive after Christmas shopping for the year. It helps you pay off the balance of your shopping quickly and affordably.

Important Facts

cashbacjOne of the biggest drawbacks of this card is the 3 percent foreign transaction fee. It’s a card made for those who travel very little outside the country. One of the biggest benefits of the Citi Double Cash card is the $0 annual fee. Some cards offer this for one year, and charge a fee the second year. This card never charges an annual fee.

The best way to use the Citi Double Cash card is to transfer your existing balances, and pay them off before you’ve had the card 18-months. Pay it off in full each month to reap the biggest award benefits, and use it for everything to earn serious cash back. Instead of paying your monthly expenses using online banking or writing checks, charge the expenses and use the cash to pay the card balance at the end of the month. You’re being paid to pay your bills.