How to earn the Citi Double Cash Card’s $ 200 welcome bonus

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Citi has announced a new welcome offer for its Citi® Double Cash Card that would allow new cardholders to earn $ 200 after meeting the minimum spending requirement.

The Citi Double Dash Card, which Select ranked as one of the best cash-back credit cards with no-annual-fee, is a great product since it offers 2% cash back for all purchases – that’s 1% cash back for all eligible purchases , plus an additional 1% cash back after you pay your credit card bill.

What makes the card especially appealing for consumers? You won’t need to track any specific spending categories as you would with other cards – and during times of record-high inflation, its cash-back rewards can really help you save on the everyday purchases you’re already making.

Below, Select details the new welcome bonus, the card’s features and how to maximize the rewards you’ll earn by using it.

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Citi Double Cash Card’s new welcome bonus

Citi® Double Cash Card

  • Rewards

    2% cash back: 1% on all eligible purchases and an additional 1% after you pay your credit card bill

  • Welcome bonus

    For a limited time, earn $ 200 cash back after spending $ 1,500 on purchases in the first 6 months of account opening.

  • Annual fee

  • Intro APR

    0% for the first 18 months on balance transfers; N / A for purchases

  • Regular APR

  • Balance transfer fee

    For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($ 5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($ 5 minimum) applies

  • Foreign transaction fee

  • Credit needed

For years, the Citi Double Cash Card hasn’t offered a welcome bonus of any kind. Now, for a limited time, new cardholders can earn $ 200 cash back after they spend at least $ 1,500 within the first six months of card membership. By the time you’ve met the minimum spending requirement, you will have earned $ 230 worth of tax-free, cash-back rewards, reflecting a solid 15% return on your initial spending.

Note that the cash back you’ll earn is awarded in the form of Citi ThankYou® Points, which can then be redeemed for statement credits, a mailed check or direct deposit, or for gift cards, travel or for other merchandise by using Amazon’s nifty Shop With Points feature. Plus, if you have another Citi ThankYou points earning card like the Citi Premier® Card, you can transfer your Citi Double Cash points to travel partners like Air Canada and Turkish Airlines, where you can really maximize the value of your points.

This cash-back card is a great option for those who tend to make lots of purchases within a variety of spending categories – such as restaurants, travel, gas and groceries, for example – or for anyone who simply doesn’t want to bother tracking them at all.

On top of that, the card also has a generous balance transfer bonus offer – a 0% introductory APR for 18 months (after, 16.24% – 26.24% variable APR) – providing a great way to transfer over any existing credit card debt and pay off your balance without accruing additional interest charges.

Choosing a cash-back credit card that works for you

Overall, the Citi Double Cash Card offers a simple and effective solution for consumers who simply want to save money on their daily expenses. That said, if this particular card doesn’t fit your current financial needs, here are a few general pointers for choosing a new cash-back credit card.

Match your spending habits with the card’s rewards

Not all credit cards are created equal and many tend to offer vastly different features. The one you choose should offer rewards that directly correlate with your spending habits. For example, the Citi Double Cash Card makes sense for consumers who tend to spend regularly between several spending categories.

If your expenses are largely related to one or two spending categories, it makes more sense to select a card that offers a higher amount of cash back for the things you’re already buying. For example, if you’re spending a lot of time shopping on Amazon and / or Whole Foods, the Amazon Prime Rewards Visa Signature Card would be a good fit since it gives cardholders 5% cash back for Amazon and Whole Foods purchases with eligible Prime membership.

Before deciding on a new card, evaluate what you’re spending the most money on and try to find a credit card that offers the highest amount of rewards possible for that particular category. If you don’t want to do that, a card like the Citi Double Cash Card could work for you since you earn a great cash back rate on all purchases.

Calculate if the card’s annual fee is worth paying

It’s a tricky subject, as many consumers feel it’s not worth paying an annual fee for a credit card. That said, if you’re going to be spending enough and taking full advantage of the card’s benefits, having an annual-fee card can sometimes end up being more beneficial and rewarding than having a no-annual-fee card.

For example, the Blue Cash Preferred® Card from American Express lets cardholders earn 6% cash back when you shop at US supermarkets (for up to $ 6,000 worth of purchases each year, then 1% cash back), as well as 6% cash back for using select streaming services, 3% cash back for transit including taxis, ride-sharing services, trains, buses, parking and tolls, plus 1% cash back for all other purchases made with the card – for a modest $ 95 annual fee. (See rates and fees.)

By comparison, the no-annual-fee version of this card, the Blue Cash Everyday® Card from American Express, offers 3% cash back when you shop at US supermarkets, as well as 3% cash back at US gas stations and for shopping with US online retailers – for up to $ 6,000 worth of purchases each year, then 1% cash back, for all categories mentioned – plus 1% cash back for all other purchases. (See rates and fees.)

Based on those spending categories, it shouldn’t be difficult to decide which card best suits your needs – and if it’s worth paying extra for an annual fee if you’re going to maximize all the benefits and make it worth your while.

Bottom line

For rates and fees of the Blue Cash Preferred® Card, click here.

For rates and fees of the Blue Cash Everyday® Card, click here.

Editorial Note: Opinions, analyzes, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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