Citi launches $200 cash back welcome bonus on Double Cash credit card
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Published 10:57 a.m. UTC Nov. 14, 2023
Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.
ringo sono, Getty Images
Citi is a Blueprint partner.
One of the best flat-rate cash-back credit cards on the market got even better in November 2023, as Citi launched a welcome bonus on its Citi Double Cash® Card. Traditionally, the Double Cash does not offer a welcome bonus — so if you’ve been thinking about adding this card to your wallet, applying while you’ve got the chance to rack up extra Citi ThankYou® Points could be a smart move.
Citi Double Cash welcome bonus
The welcome offer launched in November 2023 is as follows: Earn $200 cash back after spending $1,500 on purchases in the first six months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Many cards come with spending targets you have to hit in the first three months of account ownership if you want to earn the welcome bonus. The offer on the Double Cash is twice that long, making it a good choice for someone who might need a little more time to hit the required spend.
our partner
Blueprint receives compensation from our partners for featured offers, which impacts how and where the placement is displayed.
Citi Double Cash® Card
Citi Double Cash rewards
Earning rewards
The Double Cash set the standard for flat-rate cash-back cards at a time when earning 2% cash back was not common. Cardholders earn 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
Some consumers may prefer a card that grants the full 2% upfront, rather than half upon purchase and half upon paying your credit card bill. However, the Double Cash card’s earning structure is only an issue if you miss a payment, because making at least the minimum payment by your due date can assure that you’ll earn the second half of your rewards.
Redeeming rewards
With the Citi Double Cash, you can easily redeem your ThankYou points at 1 cent each as a deposit to a bank account or a statement credit to reduce your card’s balance.
Additional redemption options include:
- Travel booked through the Citi portal.
- Gift cards from a variety of retailers.
- Paper checks sent through the mail.
- Shopping at Amazon, CVS, Walgreens or Dollar General.
And, if you also hold the Citi Premier® Card * The information for the Citi Premier® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. , you can transfer your ThankYou points to Citi’s lineup of nearly 20 airline and hotel partners, many at a 1:1 transfer rate.
Citi Double Cash intro APR
The Double Cash also comes with a balance transfer offer: 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% to 29.24%. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed in the first 4 months. After that, the fee will be 5% of each transfer (minimum $5).
However, we don’t recommend transferring a balance and making new purchases at the same time, as this can make it challenging to pay down your full balance before the intro period ends. That’s particularly true because there is no intro APR on purchases.
Should you get the Citi Double Cash?
The Citi Double Cash card is attractive if you don’t want to deal with rotating categories that change quarterly or elevated earning rates on some spending and a subpar rate on everything else. With a competitive flat earning rate, the Double Cash card’s power is its simplicity.
Plus, with no annual fee, it doesn’t cost anything to carry the Double Cash.
If your preferred way to redeem your credit card rewards is cash back, you can use the Double Cash as a straightforward cash-back card. Or, if you’re looking to score almost-free award travel, the Double Cash can be part of a travel rewards setup if paired with the Citi Premier.
Normally, the main drawback of the Double Cash is that it doesn’t offer a welcome bonus, which puts it at a disadvantage to competitors such as the Wells Fargo Active Cash® Card. With the addition of the new welcome offer, Citi has made one of its oldest and best-loved cards shiny and new again.
Looking for a card that earns simple, straightforward rewards? See our list of the best 2% cash-back cards.
*The information for the Citi Premier® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
