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Whether you’re a seasoned credit card user or just starting to explore your options, it’s essential to get insights into what a card offers before you apply. That’s why we have compiled this review.
This piece will explore the features, benefits, and potential drawbacks of the Citi Double Cash Card, helping you decide if it fits your financial strategy.
Features of the Citi Double Cash® Mastercard
First, Citi offers 24-hour fraud protection to keep your account secure. If they detect any unusual activity, you will receive an alert immediately, ensuring you’re always aware of potential threats to your financial safety.
Mastercard’s I.D. Theft Protection program is another excellent feature that helps protect your identity. This program monitors the information you choose to safeguard and alerts you if any suspicious activity is detected. Enrolling is free and only takes a few minutes, with monitoring beginning as soon as you sign up.
Additionally, Citi provides $0 liability on unauthorized charges. This means you’re fully protected against any charges you didn’t authorize, whether they occur online or offline. You won’t be held responsible for such charges, giving you peace of mind.
What’s more? Shop safely and conveniently with a contactless-chip-enabled card. Just tap your card on the payment reader, and then you’re good to go, and it takes seconds.
Lastly, Digital Wallets allow you to shop confidently at millions of locations online, within apps, and in stores. They speed up the checkout process while providing all the great benefits that come with your card.
Pros and Cons of Citi Double Cash® Card
What are the pros and cons of the Citi Double Cash® Card? Let’s explore:
Benefits
- Exclusive Event Access: Enjoy special access to thousands of events with Citi Entertainment®, including presale tickets and exclusive experiences for sports, concerts, dining, and more.
- 24/7 Customer Service: They have representatives around the clock to assist you, 24 hours a day, seven days a week.
Cons
Here is the drawback of this card:
- Loss of Introductory APR: The introductory APR may be terminated, and the Penalty APR may be applied if a late payment is made.
Rates and Fees
So what are the rates? First, the purchase rate varies from 19.24% to 29.24% APR, depending on your creditworthiness.
The good thing is that when you open your account with the Citi Double Cash® Card, you can get a 0% APR intro rate on balance transfers for 18 months from your first transfer if completed within four months of opening.
After this period, any unpaid balances and new balance transfers have a variable APR of 19.24% – 29.24%, depending on your creditworthiness.
The same variable APR range applies to Citi Flex Plans, where applicable. For Citi FlexPay Plans, a monthly fee of up to 1.72% may apply, depending on the plan duration and other factors.
If you use your card for cash advances, the variable APR is 29.99%. Late or returned payments may result in a variable Penalty APR of up to 29.99%.
There’s no annual fee, but foreign purchases incur a fee of 3% of the U.S. dollar amount. Cash advances come with a cost of either 5% or $10 of the advance amount, whichever is greater.
During the introductory period, balance transfers are subject to a fee of 3% of each transfer (minimum $5) if completed within the first four months. After that, the cost increases to 5% per transfer (minimum $5).
Upon credit approval, these terms apply to new card members, and additional limitations, terms, and conditions may apply. You’ll receive detailed information when you apply for the card.
Eligibility Criteria and Requirements
Citibank will determine your eligibility for this card. To apply, you must be at least 18 years old and 21 years old if you’re in Puerto Rico. If you’re married, you can apply for a separate account. This card is available to individuals residing in the United States and its territories only.
You will need to provide basic information such as your name, income, Social Security Number or ITIN, email, date of birth, address, phone number, and rent or mortgage payment.
The Citi double cash card average credit limit is based on your creditworthiness. Your credit limit is determined by looking at key factors, like your annual salary and wages, any other income, and a review of your debt, including what’s listed on your credit report.
Once your card is approved, they’ll let you know your credit limit, which could be as low as $500.
How to Apply for the Citi Double Cash® Card
The application process for the card is simple. Just visit the Citi website and click “Apply Now.”
You’ll be taken to a page where you fill out a form with your details. If you’re a Citi customer, you can expedite your application using your username and password.
Before you continue, you must review and accept the Card Terms and conditions, including details on interest rates, fees, and rewards.
After completing all the steps, check all required boxes and submit your application. You’ll get a response in 15 minutes. The processing of the card may typically take up to 4 weeks. For assistance, contact Citibank customer service at 1-800-950-5114 (For TTY: Use 711 or other Relay Service).
Conclusion
Is the Citi Double Cash Mastercard worth applying for? Absolutely! With its many features, it offers excellent value for everyday spending and travel. It’s a solid choice for anyone looking to maximize their cash back earnings, so it’s a card worth adding to your wallet.
