The Money Mustache Community
Learning, Sharing, and Teaching => Reader Recommendations => Topic started by: Eilonwy on January 22, 2019, 03:11:23 PM
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I was thinking of downgrading our Citi premier card to the double cash. But since I already found with the premier that the "points" aren't necessarily full value, I want to check on that first.
Currently I have cards that give 1.5 percent cashback, which is easily redeemed for a statement credit. Are there catches to the Citi card? Barriers to redemption, less value for points, things like that?
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Not really. $0.01 per $1 in purchases. $0.01 per $1 paying off purchases (you ultimately don't earn a reward for paying any interest or fees incurred, but you'll avoid those anyway). You do have to go in periodically to request your reward (not automatically sent on a schedule). You do need the reward balance to be at least $25, then you submit a request to redeem your reward on the website. Redemption options are 1) mail a check, 2) direct deposit (must be to an account that was recently used to pay that particular card using Citi's payment system), or 3) statement balance (but then you miss out earning some of the payoff reward). For a simple cashback reward, I don't know of anything better - it's my default card (I also carry Citi's Costco VISA and a Discover card with quarterly 5% bonus categories that you have to remember to activate).
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I've had one for a couple years now. No complaints. 2% cash back as advertised.
For a simple cashback reward, I don't know of anything better - it's my default card (I also carry Citi's Costco VISA and a Discover card with quarterly 5% bonus categories that you have to remember to activate).
Same here. In addition, I did add the Uber card to my wallet for 4% cash back at restaurants.
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Ditto to others. No complaints here, had one for 3+ years now and it's my go-to for pretty much anything that isn't groceries or gas. 1% for purchases, 1% when payments are made, no BS.
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My default card
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Great, thanks all!
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Citi double cash card has been are fall back card. We have been cc churning but use that always as are fall back card and for Xmas its easy to cash in the points for Xmas presents. Good card to keep things simple and rack up some points
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I use the Double Cash for most of my purchases and it's a great card. No catches.
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If you use your cash back points as a statement credit on the bill, you don't get the 1% for it. That's the only catch I know of.
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I hardly ever use mine, since I get 10%+ back with sign up bonuses, but I did just fund $7,000 to a bank account using the DC card, for an easy $140.
As Sugaree said, get the cash as a direct deposit to your bank, not a statement credit.
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I think you have to wait for the charges to show up on your statement before you get the 1%, so when the card is opened if you charge $20 then a few days later pay off the $20 it won't get you the points. Setting up automatic payments gets around this problem nicely though, on top of all the usual pros for automatic payments.
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I think you have to wait for the charges to show up on your statement before you get the 1%, so when the card is opened if you charge $20 then a few days later pay off the $20 it won't get you the points. Setting up automatic payments gets around this problem nicely though, on top of all the usual pros for automatic payments.
I didn't have that issue, though I haven't really used it in awhile, so it might have changed since then.