Bank of America® Cash Rewards vs. Citi® Double Cash
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Many American credit card users want to earn as much cash back as possible from their cards, and there are many ways to do so. Some cards offer bonuses for certain types of purchases, while others feature a higher level of cash back for on everything. Bank of America and Citi are two of the nation’s largest credit card issuers and they both offer very competitive cash back credit cards.
In addition, new applicants receive 18 months 0% APR financing on balance transfers. Qualifying balance transfers must be completed within four months of account opening, a 3% balance transfer fee applies, and balance transfers do not qualify for cash back. After the promotional rate expires, the standard rate of 15.74% - 25.74%* (Variable) will apply, based on your creditworthiness at the time of the application.
This card also includes automatic account alerts, a customizable payment due date, and compatibility with the Apple Pay mobile payment system. There is no annual fee for this card, but there is a 3% foreign transaction fee imposed on all payments processed outside of the United States.
Which card is right for you?
By offering a total of up to 2% cash back on all purchases, the Citi® Double Cash card has set a new benchmark among cash back reward credit cards that is tough to meet. It also offers a very strong promotional financing offer for 18 months, and a competitive list of cardholder benefits for shopping and travel.
Nevertheless, the Bank of America® Cash Rewards Credit Card does have a few advantages. First, it offers a $200 sign-up bonus while the Citi Double Cash card has no introductory offer. In addition, Bank of America has a very large retail banking presence.
Bank of America customers who make a lot of purchases in one of the enhanced categories should strongly consider the Bank of America® Cash Rewards Credit Card , while many others may be better off with the Citi Double Cash card. By looking closely at your banking and spending habits, you will find the right card for you.