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Point Savvy reader Brett P. recently asked, “What’s the best credit card so that I can stop using my debit card for every purchase and get cash back without having to make a lifestyle change?”
The Citi® Double Cash Card is a no nonsense card.
My best advice to someone who has become comfortable with a debit card is that you need to change it up and get more out of life. Similar to starting a diet or adding exercise to your life, choosing a credit card is about making a change for the better. As a debit card user, you’re used to taking money directly from your bank account.
Now that you’ve perfected this financial control, you need to take it to the next level – just like your workouts. By using a debit card you won’t see results. By getting the Citi Double Cash Card, you’ll be giving your wallet a boost and cash back is the payoff. So think of it this way, if you spend an average of $500 a week, you’ll earn 1% UNLIMITED cash back. That’s $20 a month or $240 a year. Sounds like a small number but think about it, that’s $20 to $240 more than what you’re getting now. Now here’s the incentive to pay your credit card like it’s your debit card.
1% + 1% = 2%. Simple math if you pay off your statement at the end of each billing cycle.
You are used to spending only what you have. So don’t change a thing and pay off the Citi® Double Cash Card in its entirety. You receive another whole 1% cash back as you pay off your purchases. Do the math. With the 1% you earn at the point of purchase and 1% when you pay your balance, you’ll earn twice the cash back. That’s upwards of $480, depending on how much you spend and pay back each month. This cash back is not counted as taxable income as it is viewed as a rebate and is considered a price adjustment, not income or free money.
It’s time you got this card on the double.
This card comes without complications. There are no caps. No rotating categories and there’s NO ANNUAL FEE. You’ll earn cash back on absolutely everything. And as a well-seasoned debit card user, all you have to do is pay it off every period and earn twice as much. In other words, you’ll earn more the faster you pay off your balances. This is one of the highest ongoing rewards rates among all the cash back cards on the market. This card was designed for those who have responsible credit card use, and there is finally an incentive from a bank to pay off your charges with responsibility in mind. Keep spending, keep paying and keep earning on every single dollar you spend.
An intro 0% APR on balance transfers, in case you need it.
I wouldn’t advise this card for a balance transfer even though it does have a long duration with the 0% introductory offer. There are other cards that offer longer terms to pay it off and there are cards that don’t have a 3% balance transfer fee, as this card does.
Perks that make you do a double take.
Unlike a debit card, the Citi® Double Cash card gives you a late fee pass. If you forget to pay your credit card bill on time, the late fee will be waived on your first late payment.
You also have the ability to move your billing due date to a different time of the month. Flexible billing enables you to make your payments when it’s more convenient for you.
Citi Price Rewind is an exciting program offered by Citi. If you register your purchases online, the company searches for lower prices on those items and will refund you the difference if it finds a better deal.
This card is double the fun of a debit card. Getting something back for doing what you already do is a bonus in itself. So if you’re feeling like you deserve something for your good financial behavior, consider getting cash back. The Citi® Double Cash Card goes way beyond the debit card you’ve outgrown.
If you’re just getting back into credit cards and are testing the waters with earning rewards, Citi® Double Cash offers a very simple way to earn double rewards on your everyday purchases. When you use your card for purchases, you earn 1% cash back. Then, when you pay off your balance, you earn another 1% cash back. Carrying this card can help you ease back into using credit cards, while earning cash back fast.
Here’s what we like about the card:
- Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- Balance Transfers do not earn cash back
- 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.24% – 23.24% based on your creditworthiness
- Click ‘Apply’ to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
- No categories to track, no caps on cash back, no annual fee*