According to an article on credit card ownership statistics, more than 40% of all the credit cards owned by Americans do not earn any rewards.
Do you use credit cards that offer rewards? If your credit cards do not earn any rewards, it’s time to upgrade! You still use your credit card as usual but now you will earn some nice rewards like a gift card to your favorite restaurant, or simply cash back, or even a free flight to your dream vacation destination!
A common rewards program for credit cards is cash back in any form, e.g. as a credit to your account, through a check to yourself, direct deposit etc. There are so many credit cards out there that offer cash back and most of them are 1% which is fine but there are 2% cash back cards. Actually as far as I know, there are only two credit cards that are still offering 2% cash back to new customers, on all the spending with no restrictions. In this post, I will talk about one of them – Citi Double Cash card.
Citi Double Cash card
The other day I was watching TV and saw a commercial for this credit card – while I’m pretty skeptical to commercials and I don’t believe most of them, I had to give my exception to this one because it’s indeed a great credit card.
2% Cash Back on Everything
The 2% cash back is actually based on two 1% cash backs: on every purchase you make, you earn 1% cash back, and when you pay your balance, you get another 1% cash back, so effectively 2% cash back, with no catches and no limits! Similar to many other credit cards, there is a minimum redeemable amount of $25.
No annual fee
Some other credit cards also offer great rewards programs but is an annual fee, but that’s not the case with Citi Double Cash Card. Another reason to own this card!
0% Intro APR for 15 months
This applies to both purchases and balance transfers. Keep in mind, for each balance transfer, there is a fee of either $5 or 3% whichever is greater. If you are a financially responsible person, this could be a good benefit to take advantage of.
Indeed, this credit card does not offer any sign-on bonus, and it does not have any category bonus cash back on certain spending, but overall it’s a great credit card to own.
You can find out more the card and the application link here.
To be continued…