New Citi Double Cash Credit Card Gives Twice the Rewards for Paying Off Your Balance

New Citi Double Cash Credit Card Gives Twice the Rewards for Paying Off Your Balance

September 9, 2014         Written By Lynn Oldshue

A new rewards credit card from Citi known as Double Cash offers bonus cash back when you pay off your credit card debt. The program is designed to encourage consumers to keep their debt low and reward them when they make payments on their accounts.

With Citi Double Cash, you can earn 1% cash back on all transactions, plus another 1% cash back when you pay off each transaction on your card.

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The card has no annual fee and offers a 0% APR% for 18 months on balance transfers. The ongoing APR will range between 13.99% – 23.99% (Variable) depending on your credit worthiness.

While 2% cash back may not be as high as some other cards on the market, this Citi card offers the same rewards throughout the year. Some cards, such as the Chase Freedom, will offer 5% cash back in revolving categories, but those categories change from quarter to quarter. With this new Citi card, you don’t have to wonder if this is a month for gas rewards or dining rewards because the cash back stays the same. In addition, Citi does not place a cap on your potential cash back rewards.

After you have earned at least $25 in cash back rewards with this card, you can choose to apply the money to your bill or receive it in the mail as a check or gift card.

The Double Cash Card also offers a free pass for your first late fee, in case you happen to miss a payment on your card.

The information for the Chase Freedom has been collected independently by LowCards.com. The product details on this page have not been reviewed or provided by the bank advertiser.

The information contained within this article was accurate as of September 9, 2014. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.