Citi Double Cash Review – 2% Cash Back on All Purchases

– Hi, today I will be reviewing
the Citi Double Cash Card. It is a card that I have myself. If you were to only have a few
credit cards in your wallet, this should be one of them. Stick around and I’ll tell you why. (echoing and reverberating
electronic music) So today I’m going to
explain how easy it is to ultimately earn 2% cash back, and then I’m going to talk
about the many features that this credit card offers
and some of these features are not typical from other credit
card companies, so you’ll want to stay tuned to the end to
learn all the benefits and some of the drawbacks of having
the Citi Double Cash Card. And if you like this video today, I appreciate it if you
can hit the like button, and if you want to see
more videos like this, please subscribe and hit
the bell notification. The Citi Double Cash rewards
program is very simple. You’ll earn 1% cash back
on all your purchases, and once you pay those purchases, you’ll earn another 1% cash back. This is one of the reasons why
I recommend this credit card. This is a very simple
program, for people that just want to earn credit card reward, without putting too much
time and energy into it. In order to get approved for
the Citi Double Cash Card, you need very good or excellent
credit to get approved. If your credit range is
somewhere between fair and good, you’ll find that you have
a more difficult time getting approved for the
Citi Double Cash Card. This is a new thing. Before, the Citi Double Cash
Card never had a signup bonus, basically because it’s already on it’s self a really great card. But recently, starting last year, they do offer sign up bonuses for the Citi Double Cash Card. And that will either
be a $100 signup bonus, or a $150 signup bonus. So look out for that. As a Citi Double Cash Card holder, you will enjoy Citi Private
Pass, and what that does, is it allows you to get
special access to concerts, sporting events, and dining experiences. To see what’s available,
there’s a website, you can see what is going
on in your local area. When it’s time to redeem
your cash back rewards, you have three options. You can take a statement
credit, have your cash deposited into a Citi bank account if you have one, or you can ask for a
check to be mailed to you. So in order to redeem
your cash back rewards, you need to earn at least
$25 in cash back rewards. So that basically means
you need to spend $1250 in order to get cashback rewards redeemed with the Citi Double Cash Card. A very important thing for
people to be in mindful about with the Citi Double Cash Card is that your rewards can expire. But I want to make it clear that they’re not likely to expire. The only condition they have is that you need to make either
purchases or payments within a 12 month period. So as long as you keep
your account active, you run no risk of losing your rewards. For regular purchases,
you earn 2% cash back, but I want to make very
clear that you do not earn 2% cash back on the following. Okay, and I’m sure you’re not surprised. You will not earn cashback
on balance transfers, cash advances, interest charges, or anything kind of account
fees, and returned items. The Citi Double Cash Card
has a very generous balance transfer program, if you were
to get approved for this card, and you want to do a balance transfer, you need to do it within
the first four months, and you will get 18 months zero APR. Now there is a 3% balance transfer fee, that’s not too high
considering some other cards will either have a 4% or
5% balance transfer fee. One thing I don’t want
anyone to get confused about is that the zero APR for 18 months is only for balance transfers, and not for purchases you make during that time. So make sure that if you use
this card to make purchases, that you pay off your balances, in full, each month so that you avoid the interest and you get the benefits of
the rewards you have earned. Being a Citi Double Cash Card holder, allows you take part in
the Cash Rewind program. So if you buy something online,
and the price goes down, Citi will give you a
refund on the difference. And that can be up to $200. When you buy the item,
you’ll register the item, and once you register
the time into the system, the Citi Rewind program will monitor if there are different
pricing fluctuations. And, if your item goes down in price, then you will be refunded
the difference, up to $200. This is a rare credit card benefit, that most cards cannot even compete with. Now the time period for the
coverage of this program is 60 days, so if within 60
days a lower price is found, you will be refunded the difference. One thing you really need to know with the Citi Double Cash Card, it is not the card you want to use when you
travel to another country. Because the Citi Double Cash Card charges 3% foreign transactions fees. What this means is, even if you do earn 2% cashback on your
purchases on your vacation, you will still end up paying 1% in foreign transactions fees. I recommend using the CapitalOne
Quicksilver credit card. Just like every CapitalOne credit card, the Quicksilver card from CapitalOne will not charge you a
foreign transaction fee. So basically, instead of losing 1%, you will actually earn 1.5% on all your transactions over seas. And I know this first
hand, I have used my card two times when I have been
outside of the United States, and I have earned my rewards, and it was the most
dependable card that I had. I also want to make
clear that there are two very similar cash back credit cards, offering 1.5% cash back on all purchases. They are the Chase Unlimited card, and the Wells Fargo Cashwise card. I do not recommend those
for traveling outside of this country either, because they also charge foreign transaction fees. So using a card like
CapitalOne Quicksilver, you will have no foreign transaction fees, and you will also earn
rewards on your purchases. I know we don’t all plan missing payments, but it happens; we live busy lives. So with the Citi Double Cash Card, they will give you a one-time
late payment forgiveness. So they will not charge you a fee the first time you miss a payment. So this is a credit
card I really recommend, I have been a card
holder now for one year, and I have found it very
simple and easy to use, and it’s definitely a card that I will always have and
always have value in. And it has no annual fee. If it turns out, even
with all these benefits I’ve talked about today, that
the Citi Double Cash Card isn’t right for you, you
have the option in 12 months to do a product change, and
try a different Citi card. In conclusion, this is a great credit card if you’re a person that
doesn’t have many credit cards, but wants to have reward
cards that earn easy rewards, then this is for you. And then if you have
multiple credit cards, and you’re involved in different programs, when you’re making a
purchase that doesn’t fall within any of those categories,
or any of the programs, you can use the Citi Double Cash Card and you can earn 2% cashback
on all your purchases. Thank you so much, for
making it to the end, to my Citi Double Cash Card review video. If you found this video helpful, I’d appreciate it if you could like it and if you want to see
more of my review videos, please hit the subscribe button
and the bell notification. And until next time.

7 thoughts on “Citi Double Cash Review – 2% Cash Back on All Purchases

  • Personally, I think that DoubleCash belongs in many people's wallets.  A rewards rate of 1%+1% is reasonable, and the card's suite of benefits is pretty impressive.  It may not be a fit for someone with a "travel card build", or for someone that travels outside the US (at least not regularly).  But certainly does belong in a purely "cash back card build" as a foundation card (to soak up the spend left by your other card's non-bonus categories).  There is one thing that I didn't hear you mention when you spoke about options to redeem your cash.  You don't ever (as in…never) want to take your cash back on this card as a statement credit.  While it's much easier for folks to say that this card earns 2% cash back; it actually earns 1% on purchases, and 1% when you pay for those purchases (as you mentioned early in the video).  If you take cash back as a statement credit, you aren't "paying" your balance…you are "lowering" your balance.  That means you won't activate the second 1% on any potion of your bill that you used rewards to pay off.  Other cards can have quirky things like that too.  For example, Chase Amazon Prime Visa.  Never use your points to shop at Amazon.  You only earn the 5% on charged purchases…so if you use rewards to shop, you're missing out on 5%.  You should purchase with the card, then use the rewards as a statement credit.  Ah…the sweet stench of credit card semantics.  I guess it's their game though, we just play.  Thanks for the video.

  • Hi I just started watching your videos about a month now love you!! Do you have any information on PNC rewards credit cards?

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