topic Re: Citi Double Cash: Is it Worth It? in Credit Cards

Citi Double Cash: Is it Worth It?

A1Credit — Fri, 30 Mar 2018 14:46:41 GMT

I’m currently in the garden but I’m planning to app for the Citi DC in six months or so. I would like for this card to replace my Cap One QS for cash back after my 1st year Disco match is done.

Question: Will I come out better with DC than QS in the end? I always pay my statement balance to avoid paying interest but not alway PIF. Correct me if I am wrong but I won’t get the full 2% if I don’t PIF, correct? Maybe I’m overthinking as I have a tendency to do.

Also what scores are needed for this card and do they also also pull both EQ & EX for approval?

Re: Citi Double Cash: Is it Worth It?

UpperNwGuy — Fri, 30 Mar 2018 14:55:33 GMT

You will get your 2% whether you PIF or not, but the second 1% will come later if you pay off the charges later. Paying off the statement balance soon after the statement is cut is the best approach.

The real issue is how you redeem your cash back. If you redeem it as a statement credit, it reduces the amount of the next payment, and that means you'll be earning slightly less than 2%. But if you ask them to deposit the cash back to a checking account or to mail it to you as a paper check, you'll be earning the full 2%.

Re: Citi Double Cash: Is it Worth It?

A1Credit — Fri, 30 Mar 2018 15:07:03 GMT

@UpperNwGuywrote:
You will get your 2% whether you PIF or not, but the second 1% will come later if you pay off the charges later. Paying off the statement balance soon after the statement is cut is the best approach.

The real issue is how you redeem your cash back. If you redeem it as a statement credit, it reduces the amount of the next payment, and that means you'll be earning slightly less than 2%. But if you ask them to deposit the cash back to a checking account or to mail it to you as a paper check, you'll be earning the full 2%.

How does paying the statement balance after the statement cut affect my utilization?

My plan is to always ask for a check for cash back. I have yet to request a statement credit with my current cash back card.

Re: Citi Double Cash: Is it Worth It?

Remedios — Fri, 30 Mar 2018 15:07:27 GMT

Do you still get the othe 1% if you pay prior to statemet being cut?

Re: Citi Double Cash: Is it Worth It?

Anonymous — Fri, 30 Mar 2018 15:13:27 GMT

You get 1% when you make purchase. The amount then has to show up in what I call a score box. Once it shows in the scorebox any time you pay it you get the 1% (or 2% total ) when the statement cuts. This, Amex BCP, US Bank Cash Plus are our 3 favorite cards.

Re: Citi Double Cash: Is it Worth It?

A1Credit — Fri, 30 Mar 2018 15:18:17 GMT

@Anonymouswrote:
You get 1% when you make purchase. The amount then has to show up in what I call a score box. Once it shows in the scorebox any time you pay it you get the 1% (or 2% total ) when the statement cuts. This, Amex BCP, US Bank Cash Plus are our 3 favorite cards.

Thanks for the clarification. So either way I will get the 2% because the purchase will be paid eventually.

This card is definitely on my future app list.

Re: Citi Double Cash: Is it Worth It?

MrDisco99 — Fri, 30 Mar 2018 15:32:34 GMT

Yes you still get the second 1% if you pay before the statement cuts. I often have $0 statements on my DC and I’m getting the full 2%.

The thing you have to watch for is paying more than current balance. So if you currently have a $150 balance with a $50 charge pending, you do not want to pay $200 because you’ll only get cash back on $150 of that. Wait until the other $50 posts, or just pay $150 now and the other $50 later.

Basically as long as you’re not paying towards purchases that haven’t posted yet and you don’t redeem as statement credit, you’ll get the full 2%.

Oh yeah... payments towards non-purchase balances like fees or balance transfers do not earn cash back.

This is one of my favorite cards. It is the perfect catch-all card and it never leaves my wallet.

Re: Citi Double Cash: Is it Worth It?

A1Credit — Fri, 30 Mar 2018 15:38:15 GMT

@MrDisco99wrote:
Yes you still get the second 1% if you pay before the statement cuts. I often have $0 statements on my DC and I’m getting the full 2%.

The thing you have to watch for is paying more than current balance. So if you currently have a $150 balance with a $50 charge pending, you do not want to pay $200 because you’ll only get cash back on $150 of that. Wait until the other $50 posts, or just pay $150 now and the other $50 later.

Basically as long as you’re not paying towards purchases that haven’t posted yet and you don’t redeem as statement credit, you’ll get the full 2%.

Oh yeah... payments towards non-purchase balances like fees or balance transfers do not earn cash back.

This is one of my favorite cards. It is the perfect catch-all card and it never leaves my wallet.

Nice breakdown. Thanks! Now we just need someone to offer 2.5-3% LOL

Re: Citi Double Cash: Is it Worth It?

Anonymous — Fri, 30 Mar 2018 15:47:07 GMT

@A1Creditwrote:
@MrDisco99wrote:
Yes you still get the second 1% if you pay before the statement cuts. I often have $0 statements on my DC and I’m getting the full 2%.

The thing you have to watch for is paying more than current balance. So if you currently have a $150 balance with a $50 charge pending, you do not want to pay $200 because you’ll only get cash back on $150 of that. Wait until the other $50 posts, or just pay $150 now and the other $50 later.

Basically as long as you’re not paying towards purchases that haven’t posted yet and you don’t redeem as statement credit, you’ll get the full 2%.

Oh yeah... payments towards non-purchase balances like fees or balance transfers do not earn cash back.

This is one of my favorite cards. It is the perfect catch-all card and it never leaves my wallet.
Nice breakdown. Thanks! Now we just need someone to offer 2.5-3% LOL

If you have all the "right" cards and watch carefully you can do very well and almost do that. It does take Amex BCP, Disco, Citi DC, US Bank Cash Plus. grocery 6%, gas runs 3 to 5%, utility 5%, eat out 5% or 2 depends on where, Disco deals 5%.

Re: Citi Double Cash: Is it Worth It?

toadsworth — Fri, 30 Mar 2018 15:47:15 GMT

Have you considered the Synchrony PayPal 2% CB MasterCard? Straight 2%, easy to get in with synchrony and easy SP CLIs every 30-90 days. The cash back has no redemption minimum, goes to your PayPal account instantly where you can use it, transfer to bank, or pay statement with it.

Re: Citi Double Cash: Is it Worth It?

Kforce — Sat, 31 Mar 2018 21:43:07 GMT

I like my City DC, however like all cards they have good and bad features depending on point of view

The Good : 2% Unlimited cash back, all purchases. Price protection (Citi Price Rewind). Ability to pay on the statement date and have it credit., allowing full control of how much is left on the statement. (need a few months history for instant credit to work). I had fraud on my card and they did a rush delivery of new card (No Charge). Only 25$ redemption threshold, and no need to leave money on table. Extends manufacturer warranties by 24 months. Citi Private Pass. Late fee pass. Car rental insurance and travel protection. Fast refund of rewards via ACH to your checking (after a few months of paying from you checking). Every 6 months, soft pull CL increases are usually offered. HP at any time you want. Free Bankcard 8 Fico Score {Corrected thank you BBS}. If you PIF before the statement cuts, you get the whole 2% at once, rather than 1% one month and 1% the next.

The Bad : 3% -- FTF, Need to hit >= $25 to get cashback. Front-line customer service agents aren't US based. Starting Limits are "Lower" than average for most people. CL Increases are "Lower" than many other providers and a 6 month timer is running after your first increase. if you want to get a Direct Deposit for your cash back, you need to establish history (and continue history) by making payment from your bank account via Citi's online system. (and not through your bank's bill pay). It takes a few months for credit score, instant payment, and ability to transfer cashback to you checking. (be a little patient and all services come alive). Can not pre-pay pending charges without loosing 1% cashback (need to pay only posted balance on this card).

Re: Citi Double Cash: Is it Worth It?

A1Credit — Fri, 30 Mar 2018 15:52:20 GMT

@Anonymouswrote:
@A1Creditwrote:
@MrDisco99wrote:
Yes you still get the second 1% if you pay before the statement cuts. I often have $0 statements on my DC and I’m getting the full 2%.

The thing you have to watch for is paying more than current balance. So if you currently have a $150 balance with a $50 charge pending, you do not want to pay $200 because you’ll only get cash back on $150 of that. Wait until the other $50 posts, or just pay $150 now and the other $50 later.

Basically as long as you’re not paying towards purchases that haven’t posted yet and you don’t redeem as statement credit, you’ll get the full 2%.

Oh yeah... payments towards non-purchase balances like fees or balance transfers do not earn cash back.

This is one of my favorite cards. It is the perfect catch-all card and it never leaves my wallet.
Nice breakdown. Thanks! Now we just need someone to offer 2.5-3% LOL
If you have all the "right" cards and watch carefully you can do very well and almost do that. It does take Amex BCP, Disco, Citi DC, US Bank Cash Plus. grocery 6%, gas runs 3 to 5%, utility 5%, eat out 5% or 2 depends on where, Disco deals 5%.

I'll keep this in mind and research the cards. I love the idea of "free" money.

Re: Citi Double Cash: Is it Worth It?

A1Credit — Fri, 30 Mar 2018 15:53:35 GMT

@toadsworthwrote:
Have you considered the Synchrony PayPal 2% CB MasterCard? Straight 2%, easy to get in with synchrony and easy SP CLIs every 30-90 days. The cash back has no redemption minimum, goes to your PayPal account instantly where you can use it, transfer to bank, or pay statement with it.

No, I haven't. Synchrony scares me for some reason and is why I have not app'd for a Lowes card.

Re: Citi Double Cash: Is it Worth It?

Anonymous — Fri, 30 Mar 2018 15:58:18 GMT

@KforceFree Fico-8 Credit-Card Score.

Just a FYI, the FICO score provided with the Citi DC card is a Bankcard 8 score, not a Classic 8 score. I actually consider this an even greater positive, as the Bankcard variety is tougher to come by than the Classic score provided by so many lenders.

Re: Citi Double Cash: Is it Worth It?

A1Credit — Fri, 30 Mar 2018 16:00:19 GMT

@Kforcewrote:
I like my City DC, however like all cards they have good and bad features depending on point of view

The Good : 2% Unlimited cash back, all purchases. Price protection (Citi Price Rewind). Ability to pay on the statement date and have it credit., allowing full control of how much is left on the statement. (need a few months history for instant credit to work). I had fraud on my card and they did a rush delivery of new card (No Charge). Only 25$ redemption threshold, and no need to leave money on table. Extends manufacturer warranties by 24 months. Citi Private Pass. Late fee pass. Car rental insurance and travel protection. Fast refund of rewards via ACH to your checking (after a few months of paying from you checking). Every 6 months, soft pull CL increases are usually offered. HP at any time you want. Free Fico-8 Credit-Card Score. If you PIF before the statement cuts, you get the whole 2% at once, rather than 1% one month and 1% the next.

The Bad : 3% -- FTF, Need to hit >= $25 to get cashback. Front-line customer service agents are from a foreign country. Starting Limits are "Lower" than average for most people. CL Increases are "Lower" than many other providers and a 6 month timer is running after your first increase. if you want to get a Direct Deposit for your cash back, you need to establish history (and continue history) by making payment from your bank account via Citi's online system. (and not through your bank's bill pay). It takes a few months for credit score, instant payment, and ability to transfer cashback to you checking. (be a little patient and all services come alive). Can not pre-pay pending charges without loosing 1% cashback (need to pay only posted balance on this card).

Thank you for taking the time to write this. The goods are great for me. The bads you listed could be a little challenging but like you said, patience is key. Everything is do-able and I have other cards for FTF but I can see how that hurts if you want to still be able to get the 2% cash back even on international purchases. Is the 3% FTF on all of their cards or just this one? I thought my Citi AAdvantage had no FTF. Also all Citi cards come with travel protection and insurance, correct? I just purchase airline tickets and declined the travel protection/insurance from the airline because I made the purchase with my Citi card. I assumed I already had the protection with my card.

Re: Citi Double Cash: Is it Worth It?

arkane — Fri, 30 Mar 2018 16:05:45 GMT

@Anonymouswrote:
@KforceFree Fico-8 Credit-Card Score.
Just a FYI, the FICO score provided with the Citi DC card is a Bankcard 8 score, not a Classic 8 score. I actually consider this an even greater positive, as the Bankcard variety is tougher to come by than the Classic score provided by so many lenders.

The question is, are there any major lenders out there that use the Bankcard flavor for decision making?

Re: Citi Double Cash: Is it Worth It?

Gregory1776 — Fri, 30 Mar 2018 16:15:44 GMT

@A1Creditwrote:
@MrDisco99wrote:
Yes you still get the second 1% if you pay before the statement cuts. I often have $0 statements on my DC and I’m getting the full 2%.

The thing you have to watch for is paying more than current balance. So if you currently have a $150 balance with a $50 charge pending, you do not want to pay $200 because you’ll only get cash back on $150 of that. Wait until the other $50 posts, or just pay $150 now and the other $50 later.

Basically as long as you’re not paying towards purchases that haven’t posted yet and you don’t redeem as statement credit, you’ll get the full 2%.

Oh yeah... payments towards non-purchase balances like fees or balance transfers do not earn cash back.

This is one of my favorite cards. It is the perfect catch-all card and it never leaves my wallet.
Nice breakdown. Thanks! Now we just need someone to offer 2.5-3% LOL

I’d just like more options for 2% cards.

Re: Citi Double Cash: Is it Worth It?

Anonymous — Fri, 30 Mar 2018 16:21:22 GMT

@arkane
The question is, are there any major lenders out there that use the Bankcard flavor for decision making?

Yes, the lender in discussion right here. Citi.

Re: Citi Double Cash: Is it Worth It?

Kforce — Fri, 30 Mar 2018 16:22:51 GMT

@A1Creditwrote:
@KforceThank you for taking the time to write this. The goods are great for me. The bads you listed could be a little challenging but like you said, patience is key. Everything is do-able and I have other cards for FTF but I can see how that hurts if you want to still be able to get the 2% cash back even on international purchases. Is the 3% FTF on all of their cards or just this one? I thought my Citi AAdvantage had no FTF. Also all Citi cards come with travel protection and insurance, correct? I just purchase airline tickets and declined the travel protection/insurance from the airline because I made the purchase with my Citi card. I assumed I already had the protection with my card.

I only have the Double Cash from Citi so no good answers to these questions from me.

However that is what makes up the different card choices from any issuer.

(Fees, rewards, insurances, minimum for redemption, redemption methods, Fico Scores, etc).

Most cards are different in many categories from any issuer, or they would not give you a choice of cards.

Re: Citi Double Cash: Is it Worth It?

Gregory1776 — Fri, 30 Mar 2018 16:22:56 GMT

@Anonymouswrote:
@A1Creditwrote:
@MrDisco99wrote:
Yes you still get the second 1% if you pay before the statement cuts. I often have $0 statements on my DC and I’m getting the full 2%.

The thing you have to watch for is paying more than current balance. So if you currently have a $150 balance with a $50 charge pending, you do not want to pay $200 because you’ll only get cash back on $150 of that. Wait until the other $50 posts, or just pay $150 now and the other $50 later.

Basically as long as you’re not paying towards purchases that haven’t posted yet and you don’t redeem as statement credit, you’ll get the full 2%.

Oh yeah... payments towards non-purchase balances like fees or balance transfers do not earn cash back.

This is one of my favorite cards. It is the perfect catch-all card and it never leaves my wallet.
Nice breakdown. Thanks! Now we just need someone to offer 2.5-3% LOL
If you have all the "right" cards and watch carefully you can do very well and almost do that. It does take Amex BCP, Disco, Citi DC, US Bank Cash Plus. grocery 6%, gas runs 3 to 5%, utility 5%, eat out 5% or 2 depends on where, Disco deals 5%.

Could even add Chase Freedom, for when they’re not overlapping. And **bleep** I’m going to really have to get that US bank cash back +!! 5% on cell phone!? Sign me up! 😍 Can anybody share what other options there are?