Citi Double Cash Card: How the 2% Cash Back Works

The Citi Double Cash® Card is designed for people who want a straightforward cash-back structure without tracking rotating categories or quarterly activation deadlines.

Cardholders can earn a total of 2% cash back on eligible purchases: 1% when making a purchase and another 1% as the purchase balance is paid. There is no annual fee and no stated limit on the cash back that can be earned.

How the two-part rewards system works

The rewards structure is divided into two stages.

First, the card earns one ThankYou® Point for each dollar spent on eligible purchases. Then it earns another ThankYou Point for each dollar paid toward the corresponding purchase balance.

When redeemed for cash back at a rate of one cent per point, those two stages equal a total return of 2%.

For example, suppose a cardholder makes $1,000 in eligible purchases. The purchases can generate 1,000 points. Paying the corresponding $1,000 purchase balance can generate another 1,000 points, producing 2,000 points in total.

This system rewards both purchasing and repayment. It is still important to pay at least the minimum by the due date, and preferably the entire statement balance, to avoid unnecessary interest.

Cash advances, balance transfers, fees, returned purchases and similar transactions do not generally function like ordinary rewards-earning purchases.

No categories to activate

Citi Double Cash does not require cardholders to activate rotating categories.

The same rewards formula can apply to eligible supermarket purchases, gasoline, online shopping, household bills, medical expenses and other transactions. This can make the card easier to manage than a product with different rates for several spending categories.

There is also no published cap on the amount of cash back that can be earned. Someone who spends more in one month does not need to monitor a quarterly rewards ceiling.

The trade-off is that the card may not provide the highest available rewards in categories such as dining, groceries or travel. A specialized card may offer 3%, 4% or more in selected categories, although it may earn less on other purchases.

Additional rewards through Citi Travel

The card offers a total of 5% cash back on eligible hotels, rental cars and attractions booked through the Citi Travel portal.

That total combines the standard 1% earned when purchasing, the additional 1% earned while paying and 3% in additional rewards for eligible portal reservations.

This rate does not automatically apply to every travel purchase. A hotel booked directly with the property, for example, may receive only the standard card rewards.

Before using a travel portal, compare the final price, cancellation conditions, loyalty-program benefits and flexibility with booking directly through the airline, hotel or rental company.

Redeeming the rewards

Cash back is earned in the form of Citi ThankYou Points.

Points can be redeemed as a statement credit, direct deposit or check. Citi states that 10,000 points can be redeemed for a $100 statement credit, $100 direct deposit or $100 check. There is no minimum redemption amount for statement credits or direct deposits.

Other options may include gift cards, travel reservations and Shop with Points purchases. Redemption values can vary, so the same number of points may not always provide the same dollar value.

A statement credit reduces the account balance, but cardholders should still verify the minimum payment shown on the monthly statement.

Annual fee, APR and other costs

The Citi Double Cash Card has no annual fee. Other charges may apply for balance transfers, cash advances, late payments and foreign purchases. The exact fees and variable APR offered are shown in the pricing disclosures presented during the application.

Rewards may lose their value when a balance is carried at a high APR. Earning $20 in cash back does not create meaningful savings when the account generates a larger amount of interest.

The Consumer Financial Protection Bureau explains that many issuers calculate interest daily. Paying the full statement balance by the due date can generally avoid purchase interest when the account has an applicable grace period.

Who may find this card useful?

Citi Double Cash may suit people who:

• Prefer a simple rewards structure;
• Spend across many unrelated categories;
• Do not want to activate quarterly bonuses;
• Want a card with no annual fee;
• Plan to pay their statement balance consistently;
• Prefer cash back over airline-specific rewards.

It may be less suitable for someone who spends heavily in categories where another card offers a substantially higher return or for international travelers concerned about foreign transaction costs.

Approval is not guaranteed. Citi determines the credit limit and final account terms according to creditworthiness and the information included in the application.

Editorial notice: This page is not SoFi and does not approve loans. Rates, discounts, funding times and terms are subject to eligibility, verification, state restrictions and lender policies.