The Citi Double Cash Card is one of several cash cards offered by Citibank. For cash advance enthusiasts, you may want to request a higher rewards rate than that of the Citi Double Cash Card. It offers cardholders a maximum of 2 percent cashback: 1 percent as they pay cash for purchases and an extra 1 percent as they repay these purchases. Thus, cardholders can potentially increase their cash rewards to three to four percent with the Double Cash Card.
But before you get excited about such big rewards, be sure to consider the annual percentage rate (APR). The APR is charged on the cash that you earn. If you get more cash back from purchases, your APRs may be higher. In addition to earning double cash card cards, you will pay the same amount every month as the foreign transaction fee.
The Citi Double Cash Card has a standard APR of fifteen to twenty-five percent, depending on the APRs charged in each billing cycle. You can expect your interest rate to remain stable over the life of the card. If you have used your credit or debit card to make purchases or take cash advances, your account will be credited with the appropriate balance amount. If you make new purchases, you will get the regular interest rate plus the fifteen to twenty-five percent portion of your cash backs. With a credit card, you will also be subject to a separate fee for your application and for any purchases or cash advances you make.
One of the advantages of having a cash card is the ability to get instant credit for purchases. If you do not have to wait for your checks to clear, it is possible to purchase things before you need them. However, it is usually better to pay your bills on time so that your account will be more likely to earn a high number of points. You can use as much as two to four times the amount of purchases you make each month to accrue as much Askyou points as you want. As your account earns Askyou points, you will earn double cash card points that can be used to receive free airline tickets, hotel rooms, car rentals, and much more.
The regular annual fee for this card is also fairly reasonable. It costs twice as much as the American Express Blue Cash Preferred card, which has a zero percent balance transfer rate and a one percent annual fee. When you look at the percentage rates versus the rewards rate, the difference becomes clear. The rewards rate is a flat rate that determines how much you earn from the cash backs while the annual rate is determined by how many percent of your purchases are made with your card. People who use their cards to make lots of purchases will benefit from the higher double cash card points and will see the greatest benefits.
This is another rewards card that earns Askyou points in the same way as American Express and that is by purchasing things using your card. You will earn Askyou points when you shop at grocery stores, department stores, drugstores, and online. However, the amount you earn is less than what you could get from the American Express Blue Cash Preferred card. This is a third choice for people who like the idea of earning double points but don't like the high annual rate or the flat rate cash back card. This one comes out on top as a winner.
The other thing you should know about the American Express Blue Cash Preferred card is that you have the opportunity to get double cash bonus by doing specific things. For example, you will get double the amount of points if you enroll your account with American Express by the end of your first year with them. The second part of this double cash bonuses is that you will get an additional twenty five percent off of your regular purchases when you sign-up for this card. The third perk is that once you pay the balance of your credit card every month, you will then get another twelve months of bonus points. There is even more including a free travel membership and free entertainment such as tickets to the movies.
All three of these perks combined mean that you will be able to earn almost two percent cash backs from American Express. If you are already an American Express member you are already entitled to this. However, if you are not you may want to look into these other cash back cards that American Express offers.