Citi Double Cash Credit Card Review 2021 - Is 2% Cash Back Mastercard Still King?
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- Опубліковано 18 лис 2024
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#creditcards #cashback #citi
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NOTE: Credit card information in this video is not guaranteed; we have attempted to confirm all information to the best of our ability but we could simply be wrong or the information could be outdated by the time you watch this video. We are doing our best here, but check our work!
Maybe you’ve covered this before but what credit card would you recommend for a small business owner? I can provide more details on my spending if you need them.
Do NOT redeem your cashback as a statement credit. Citi does not consider a cashback statement credit to be an "eligible payment." Therefore it will reduce your balance owed, but it will also reduce the amount of your payment that will be eligible for another 1% cashback. All the other methods of redeeming your cashback will not incur this small penalty. Understand that you will lose 1% on the amount of your cashback if you redeem it as a statement credit. This is another tricky thing Citi does on this card. None of the other 2% cashback cards do this.
I'm so glad to see someone else warn others about this. I got the Double Cash card when they were offering a $150 sign up bonus. I turned around and used that rewards balance for a statement credit and effectively lost out on $1.50 rewards in doing so. Was extremely disappointed that this wasn't disclosed anywhere! Beware!
@@kaylarobinson7859How did you ever sleep that night?
Probably the most 5d chess advice I've received in a long time
Honestly this is such a small amount that I wouldn't worry about it. It comes down to something like 2% vs 1.98% cash back.
Phil how do you get it then? A Card?
Still prefer the 2% PayPal Cashback MasterCard. Just need a PayPal account and who doesn’t have that. No redemption crap to mess with.
Yep, good points.
This card is my go-to when I can't get 3-5% from my other cards 👍
Nice review. I also use this card for non bonus spend to always get at least 2%. Kudos for making consumers aware of the balance transfer shenanigans...that was truly a public service. One other bit folks ought to know about is how to redeem accumulated cash back. Always...without fail...take a check. If someone makes a $100 purchase with this card and then uses $50 worth of points for a statement credit before paying the other $50...they only get the last 1% on the $50 they actually paid...not the $50 they had deducted from the owed balance. Sneaky huh?
I've had the Double Cash for just shy of 3 years and I can say with confidence it's a great card. If I'm not making at least 2% back on other cards it'll go on this puppy. I'm a little annoyed at the $25 reward redemption requirement but that's fairly easy to hit with my kind of spend.
I also hate the $25. Redeeming cash should be immediate if you’re a member of that bank
-ya i usually charge all my phone, cable & utilities to this card and easily hit the redemption minimum each mth.
So when you redeem the Cashback bonus there is a $25 fee?
no, you have to have earned $25 in order to redeem your rewards but there is not a fee
@@ScreensAndStreams oh ok so that's the limit when you can withdraw whatever Cashback you earned. I started using this card maybe 15-20 days ago . I don't see any status it's earning something. Is there a good timetable when I will see those rewards I already spent $3k on it.
The Paypal Mastercard has no foreign transaction fees. Citi has been great to me, but I rarely use Double Cash now. Sorry.
Very nice review as usual. People just don't get cought-up in the rewards game. Make sure to control your spending, and Not overspend. If you get $500 from this card, your next question should be, how, where did I spend $25K?
Ikr. Thank you for letting people know to control their spending. When I first got my credit card I thought it was cool to I guess use borrow money. But that’s not the case and spend on things you need. At least for me I’m thinking to sign up for this or the chase freedom unlimited. I have a phone Bill monthly and I have to pay for my braces monthly. I was thinking to take advantage of the sign up bonus with chase. Even after I don’t have to pay for my braces I can use either the citi or chase just to pay for grocery just long term and while building credit. I wish someone would told me about how credit works. I kind of had to do my own research and mistake a long away.
That's why I am doing research, I only got one card and it was basically upgraded from a secured one and would love to get at least a second one eventually but I want something that would benefit me in some way or at least compliment the Discover Card I already got :)
Thanks for the revisit to this card. I never got this card but have wished it would’ve moved the needle for other banks to kick it up to 2%. Too bad on no SUB. I wish Citi wouldn’t have ruined the benefits on travel cards this worked with.
I agree. They have no benefits so I use as an only if nothing better card
Agreed Emma - I would have dumped my Citi Premier card this year since my CSP and Amex Green make it irrelevant - especially mid-pandemic - but negotiated an annual fee refund with them so holding it until next September. Hope I get to liquidate the rest of my TYPs by then!
Sticking with Paypal MC. Not a fan of Citibank.
you're correct. PayPal MasterCard is way better 2% straight up. no minimum to redeem. straight up cash into your bank account and no foreign transaction fees.
I'm still using the Alliant Visa Signature card you recommended. 2.5% cash back on everything with no annual fee in year one. A $99 annual fee in year two. It still beats the Citi Double Cash Back if your spending is over $19K a year.
Lol sounds like a hassle to deem a card profitable
I spend over $19K a year as a small business owner. I like the 2.5% cash back you mentioned. How quickly do they process payments? I make multiple purchases per week and make multiple payments to my Capital One card per week. When I make a payment that credit is available next day for purchases.
@@SeeYouUpTheRoad I have never mailed them a check. I assume you mean on-line payments. My payments post the next day. I have never had an issue.
@@nickv4073 correct using the app is what I was asking about!
Thank You for your prompt reply!
Totally disagree about the balance transfer. If you're paying 20% interest on 15K balance that amounts to $3000/year; you could save thousands by transferring that balance to this card. The key is: don't use the card for purchases if you have a balance on the card.
duh
Ok say I do this BT and pay it off instantly. Do I get 0% going forward on new purchases for the first 18 mos? Or is that 0% just for the balance you bring over?
The banks don’t do 2% because they can’t afford to give bonuses and 2%. That’s why 1.5% cards have subs and 2% cards tend not to.
Wow, I learned so much from this video! Thank you! I already have one but didn’t know about the sneaky interest rate charges on balance transfers.
The fidelity card is better now because it’s visa. Costco only takes visa and doesn’t code as grocery.
How do you like that card? I was thinking on getting that as one of my cards to use!
I’ve had the Fidelity card for about a year. It’s great as a flat 2% card. The user interface isn’t the cleanest to pay the bill, but once you know how to do it I look past it. Hope that helps.
Something's I'll never understand. Your backstop card won't break even with a 1.5% card w/150 sign up until 30,000 grand goes on it. That's a lot of back stopping
Wouldn't the Apple Card be worth mentioning as a solid 2% card? You can redeem the cashback the next day. Yes I know it is restricted to Apple Pay. But many places take it.
Yeah I have both the Apple Card and the citi double cash back card. And I specifically use the Apple Card for Apple Pay only, since I can get my cash back much quicker, plus redeeming the cash back is better because I can direct deposit it into my account. And I like that I can redeem any cash back amount. And of course I just use the citi double cash back when they don’t have Apple Pay.
@@aldoernesto4938 Yeah thats not a bad idea. However most places that don't take Apple Pay happen to be restaurants I've found. So a restaurant 3%cash back card is probably a better deal. But the Double Cash would still be good for online purchases since most places online don't take Apple Pay. The Double Cash is not really a must have card anymore.
Walmart doesn’t take it.
Nice review as always...very informative. I myself went with the PayPal mstrcd as my 2% card option...but honestly I’m at the point where most my spend goes on my travel cards
Wat travel card is good. I travel a lot
@@myguysneaker1479 preferably good to search for huge bonus...also depends on your preferred airline and transfer partners. I personally have the delta reserve (mainly for the complimentary skyclub and centurion lounge access) and the Marriott boundless -both I got with high bonus offers. Your mileage may vary 🙃
@@amarigrant thanks brother for the reply
I really enjoyed the Citi Price Rewind when that was still available.
smh
I saved so much when that was a thing
Better than the Discover IT card?
Wondering the same thing
I only use this card when I can’t use Apple Card which gives 2% cash back instantly, or my American Express business cash card which also gives 2% cashback automatically monthly. It sucks to have to wait so long with the citi card for all your cash back
How long is the wait for citi cash back?
@@mastersilence3446 At least two months for the full cash back.
I’m considering getting the double cash in a few months. Right now my 2% is coming from the discover cash back match but once that’s up I’ll consider applying. I’m pre approved for the card though right now
Once its up? cant you renew the cashback rewards?
You really should keep hitting those signup bonuses.
I just applied and got approved for $1,700 with no sign up bonus with the Double Cash.
I have Citizen's Bank 1.8% cashback. Easier to get and essentially the same in a way.
Easier than Citi? doubt
@@BlackJesus8463 Yes. Medium to Small Banks are more lenient with applications while Big Banks tend to have some stricter requirements for their cards, etc
@@12KevinPower bs
I've had this card a few months, but purchases are constantly denied due to "fraud alerts." I've called several times but the issue is still constant. Will be canceling this card SOON!
What card are u gunna use next???
Been using 5 years. Zero problems. Wow, what are you up to?
is a good card yes or no
Currently they do offer a $200 sign up bonus AND 0% interest for the first year.
Bank Of America also the same . All new purchase immediately interesting on BT balance
ok i just went for custom cash first despite loving the cashback but i guess ill get it later. the 0% intro apr for 15 months is really the difference id say. i don't usually carry a balance but its nice to have
If you use your rewards on statement credit for the month will you still get that 2nd 1% reward or only get the initial 1%?
You get 1% for purchasing and the 2nd% for paying it off before the billy cycle ends. What are you asking exactly will you please elaborate. You can’t use the redeemable reward cash to get more redeemable reward cash if that’s what you’re asking lol.
Just got this credit card
How Is It…Pros/Cons???!!!
I have seen the balance transfer trick when making purchases on the same card but it was disclosed on page where it list all the cards and benefis.
What is the best credit card to get the most cash back on gas purchases? Please help 💵
Get the Citi Custom Cash Card, it gets you 5% back in one category every month (your must used category) up to $500 a month. I essentially use it as the only card I use for gas, which helps
If costco gas, costco citi is 4%
Does anyone know if the rewards expire?
So, without the Premier 25% uplift, is it still the highest value to convert Double Cash back to ThankYou Points?
If you like Citi airline partners, it could still make sense to convert go ThankYou points, depends on your preferences.
what about the PayPal credit card that you get 2% on everything too 🤔
mentioned it in video
@@ScreensAndStreams yeah but which one would get a better value in your opinion
@@bigcee6374If you have a PayPal account (which you need to get their 2% card) then it's better than the Citi DC. No foreign transaction fees, no minimum redemption of rewards, and they offered me a targeted sign-up bonus. No-brainer for me. The only drawback is Synchrony Bank is the issuer, and I've heard that their customer service/support is terrible.
@@swedeej114 thanks I got pre approval for the card and I got paypal account already that's why I was thinking do I need it and if it is going to be a soft pull or a hard pull
@@bigcee6374 It's a hard pull. Any time you apply for new credit (this is a new line of credit) you will get a hard inquiry
A bank can perfect this with 1.25 + 1.25 and make this card irrelevant. Or keep the 1+1 and adding 2.5+2.5 on categories
great idea!
Everyone needs to be getting signup bonuses.
Afraid to apply for it. Don't want my score to drop...
I just did. Outstanding approval odds from credit karma, 756 credit score, denied. Sooooo lol
@@Blue-mg2ki smh.
@@Blue-mg2ki my score is 630 what cards can I get (I have Capital One Platinum)
@Rich Livingston I'd let it rise a little more maybe to 680 and after a few months or so with platinum and on time payments, try for the quick silver, if i remember right its 1.5% back on all purchases. Once you get above 700, maybe a chase freedom card, I didn't get a citi card (I have custom cash) till I had above a 750 score, when I applied it was 770. That's probably why I was declined for double cash, not enough history with the custom cash card. We'll see when they send me their letter
@@Blue-mg2ki if I pay it off correctly how many points can I gain a month
So you pay 0% interest if you pay it off every month?
Yes
that's with every credit card
Yes that’s a smart way to keep a CC
Perfect Card for me! 😊
Thanks for the info
They just invited me to get a diamond but I think this one is better. They’re not my fav
Thank you, definitely not getting this card…
CITI DC is the king. 👑
Sir,plz make the video on how to redeem hilton honor point on amazon and also how to link hilton account to amazon account,plz describe in detail with full porcess on screen,plz sir
Subscribed
Really like my PayPal card
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A Blue and green card !! Great!
Good
Yes
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No bonus??? This card is trashhhh!!!!!!
What card are u guys using? I just started and order this card the comment are making me nervous l😭😭
@@sawtata6033 just pay everk week , dont let your credit limit drop too much , thats what i do i use it and pay as much as i can before due date and get 17 points a month
Citi bank is deceitful! Cancel credit cards! 😡😡😡😡😡