Citi Double Cash Credit Card | Still the King of Flat Cash Back?

Citi Double Cash Credit Card Review:

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So the reason it's called the Citi double cash is that you're going to earn 1% cash back on all of your purchases and 1% cash back when you pay off that purchase. So let's say you go out and spend $100 on this credit card well you're going to get 1% back or $1 when you make that purchase and another 1% or another $1 when you pay off that amount on your card. So if you're using this card properly and paying it off at the end of every single month without fail as you should be then when all is said and done you're getting 2% unlimited cash back on everything. So for every $100 you spend your going to get $2 back which may not sound like a lot but this can add up pretty quickly.

Now that flat 2% is pretty great and is really easy and simple to keep track of but how does this stack up against some of the newer competition like the freedom flex and freedom unlimited cards that we looked at a few weeks ago? Well the freedom unlimited card, for example, is going to offer you 1.5% cash back on everything as well as a slightly higher cash back rate on a few specific categories. On the flip side, we have cards like the discover it and chase freedom flex that are going to offer 5% cash back on rolling categories which I know is a pet peeve of a lot of people and 1% on everything else. So the flat 2% on the Citi double cash card is definitely an advantage if you want a set it and forget it credit card but what else is so attractive about this card. Well for starters it has a $0.00 annual fee meaning you pay nothing to get the card.

So beyond that fantastic 2% cash back, you're also going to have virtual card options which is essentially where a random temporary card number is generated when you go to pay which keeps the merchant from having the actual card number itself and in theory will keep your card from being stolen which is a fantastic feature that we've only seen from a few other credit cards and a handful of bank accounts here and there. You also can have various shoprunner services which is an online platform that gives you various retailer benefits including free shipping from certain sites which is another great benefit especially if you do a lot of online shopping.

Now the Citi double cash card used to be at the top of the pack without a doubt so why is it that it seems to have slipped down the ladder despite that 2% cash back remaining exactly the same for the past several years. Well, it's tough to say but I think there are two main reasons. The first reason being, Citi removed a lot of great features such as the world MasterCard benefits which allowed you to get extended warranties and even travel insurance when you use your Citi double cash card but they got rid of that meaning those benefits or just completely gone. but for a lot of card members this didn't really matter because they weren't using those benefits anyways but the other huge reason that the Citi double cash card has fallen in rank is that other companies like chase have come out with new options that provide a greater benefit for the average customer.

So at the end of the day, the Citi double cash card is absolutely still a fantastic option for most if you are looking for a flat cash back reward and a way to add another card if you are finding that your credit score has kind of flatlined with your current lines of credit. So take a closer look at your spending habits and see if there is a card that offers a higher cash back reward in categories where you tend to spend more money.

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I am not a Certified Financial Planner®. The topics presented in this video are for entertainment purposes only. You, and you alone, are responsible for the financial decisions that you make.

Видео Citi Double Cash Credit Card | Still the King of Flat Cash Back? канала Magnified Money