2 BIG UPDATES to Citi Double Cash Credit Card!
2 BIG UPDATES are coming to the Citi Double Cash card on March 28, 2022! Will it still remain one of the kings of cash back? Learn about the details to determine for yourself! Click “Show More” to see Ad Disclosure.
📲 MAXREWARDS - Manage credit cards & rewards!
Get Gold level for free with PROMO CODE = markr
http://markscreditcards.com/maxrewards
💳👉VIEW CREDIT CARD OFFERS!
https://markscreditcards.com/offers
🛍 RAKUTEN - Earn Cash Back!
http://markscreditcards.com/rakuten
‼️ GET FREE STOCKS FROM WEBULL when you open an account & deposit $100:
http://markscreditcards.com/webull
🔗 LINK TO BUSINESS INSIDER ARTICLE: https://www.businessinsider.com/personal-finance/citi-double-cash-will-earn-citi-thankyou-points-instead-of-cash-back-2022-1
BACKGROUND
The Citi Double Cash Card has ranked among the best cash back credit cards for years. The reason for this is that it has no annual fee, is very simple to use, and earns 2% cash back on all purchases (1% when you buy, 1% when you pay your bill). That 2% rate is great because most credit cards have a tiered rewards structure, meaning they might earn 4%, 3%, and 2% in specific categories, then 1% on everything else. That means the base rate for all purchases outside of the specific categories is only 1%. So, while the Citi Double Cash card is great on its own, it’s even better to use for “non bonus spend” for the items that’d normally earn that 1% on a different card.
WHAT’S CHANGING – PART 1
The Citi Double Cash card earns literal cash back; your rewards balance may show something like $56.50. Beginning March 28, 2022, the cash back rewards will be issued in the form of points (i.e. Citi ThankYou Points).
Best of all, points will be worth 1¢ ($0.01) each, which is a BIG improvement from the old days when they were only worth half that :D
In other words, this 2% cash back card will become a 2X point card, but your return on spend will still be the same (great news).
This is GREAT for 3 main reasons:
1. Many other Citi credit cards also earn ThankYou Points. This means if you have other cards earning the same points, you can combine them all into 1 account balance. That’s a big win for simplicity.
2. If you have the Citi Premier Card, you have access to Citi’s transfer partners – that is, you can transfer your ThankYou points into airline miles or hotel points of partner programs. And now that the Citi Double Cash card will earn points, you can send those over to the Citi Premier Card and then transfer them out to those partners. It’s the Citi transfer partners that enable you to strategically get much more value for your points when redeeming for travel.
3. The Citi Double Cash now fits in even better with a Citi Trifecta or Citi Quadfecta setup (i.e. 3 or 4 credit cards all earning the same points in different categories, including the Citi Prestige Card, Citi Premier Card, Citi Custom Cash Card, Citi Rewards Plus Card, etc.). By using the right card for the right purchase, you can accelerate your rewards earning significantly compared to having just the Double Cash by itself.
NOTE: The functionality to convert cash back into ThankYou points on the Citi Double Cash card has been around for several years, but it had to be done manually each time.
WHAT’S CHANGING – PART 2
Currently, the Citi Double Cash card has a minimum redemption requirement of $25.00, meaning any rewards balance less than that cannot be redeemed.
As of March 28, 2022, that minimum is going away!
You’ll then be able to redeem points in any amount or increment, starting at 1 point (worth $0.01).
So if you’ve ever wanted to redeem a small amount to cover the cost of lunch, a small utility bill, etc., now you can!
REDEEMING CITI THANKYOU POINTS // WHAT ARE CITI THANKYOU POINTS WORTH?
To clarify, while cash back and other redemption options will give a full 1¢ per point, redeeming for merchandise at checkout via select partners will only provide 0.8¢ per point in value. Here’s the redemption breakdown:
- Travel (via Citi ThankYou portal) = 1¢ per point
- Gift cards = 1¢ per point
- Mortgage or student loan payments = 1¢ per point
- Charity donations = 1¢ per point
- Merchandise (i.e. pay at checkout w/ Amazon, PayPal, and more) = 0.8¢ per point
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#citidoublecash #cashbackcreditcards #citicreditcards
Видео 2 BIG UPDATES to Citi Double Cash Credit Card! канала Mark Reese // Credit & Finance
📲 MAXREWARDS - Manage credit cards & rewards!
Get Gold level for free with PROMO CODE = markr
http://markscreditcards.com/maxrewards
💳👉VIEW CREDIT CARD OFFERS!
https://markscreditcards.com/offers
🛍 RAKUTEN - Earn Cash Back!
http://markscreditcards.com/rakuten
‼️ GET FREE STOCKS FROM WEBULL when you open an account & deposit $100:
http://markscreditcards.com/webull
🔗 LINK TO BUSINESS INSIDER ARTICLE: https://www.businessinsider.com/personal-finance/citi-double-cash-will-earn-citi-thankyou-points-instead-of-cash-back-2022-1
BACKGROUND
The Citi Double Cash Card has ranked among the best cash back credit cards for years. The reason for this is that it has no annual fee, is very simple to use, and earns 2% cash back on all purchases (1% when you buy, 1% when you pay your bill). That 2% rate is great because most credit cards have a tiered rewards structure, meaning they might earn 4%, 3%, and 2% in specific categories, then 1% on everything else. That means the base rate for all purchases outside of the specific categories is only 1%. So, while the Citi Double Cash card is great on its own, it’s even better to use for “non bonus spend” for the items that’d normally earn that 1% on a different card.
WHAT’S CHANGING – PART 1
The Citi Double Cash card earns literal cash back; your rewards balance may show something like $56.50. Beginning March 28, 2022, the cash back rewards will be issued in the form of points (i.e. Citi ThankYou Points).
Best of all, points will be worth 1¢ ($0.01) each, which is a BIG improvement from the old days when they were only worth half that :D
In other words, this 2% cash back card will become a 2X point card, but your return on spend will still be the same (great news).
This is GREAT for 3 main reasons:
1. Many other Citi credit cards also earn ThankYou Points. This means if you have other cards earning the same points, you can combine them all into 1 account balance. That’s a big win for simplicity.
2. If you have the Citi Premier Card, you have access to Citi’s transfer partners – that is, you can transfer your ThankYou points into airline miles or hotel points of partner programs. And now that the Citi Double Cash card will earn points, you can send those over to the Citi Premier Card and then transfer them out to those partners. It’s the Citi transfer partners that enable you to strategically get much more value for your points when redeeming for travel.
3. The Citi Double Cash now fits in even better with a Citi Trifecta or Citi Quadfecta setup (i.e. 3 or 4 credit cards all earning the same points in different categories, including the Citi Prestige Card, Citi Premier Card, Citi Custom Cash Card, Citi Rewards Plus Card, etc.). By using the right card for the right purchase, you can accelerate your rewards earning significantly compared to having just the Double Cash by itself.
NOTE: The functionality to convert cash back into ThankYou points on the Citi Double Cash card has been around for several years, but it had to be done manually each time.
WHAT’S CHANGING – PART 2
Currently, the Citi Double Cash card has a minimum redemption requirement of $25.00, meaning any rewards balance less than that cannot be redeemed.
As of March 28, 2022, that minimum is going away!
You’ll then be able to redeem points in any amount or increment, starting at 1 point (worth $0.01).
So if you’ve ever wanted to redeem a small amount to cover the cost of lunch, a small utility bill, etc., now you can!
REDEEMING CITI THANKYOU POINTS // WHAT ARE CITI THANKYOU POINTS WORTH?
To clarify, while cash back and other redemption options will give a full 1¢ per point, redeeming for merchandise at checkout via select partners will only provide 0.8¢ per point in value. Here’s the redemption breakdown:
- Travel (via Citi ThankYou portal) = 1¢ per point
- Gift cards = 1¢ per point
- Mortgage or student loan payments = 1¢ per point
- Charity donations = 1¢ per point
- Merchandise (i.e. pay at checkout w/ Amazon, PayPal, and more) = 0.8¢ per point
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#citidoublecash #cashbackcreditcards #citicreditcards
Видео 2 BIG UPDATES to Citi Double Cash Credit Card! канала Mark Reese // Credit & Finance
Показать
Комментарии отсутствуют
Информация о видео
25 января 2022 г. 4:00:13
00:13:12
Другие видео канала
