topic Re: What do you like about the Citi Double Cash Credit Card? Is it worth it? in Credit Cards

What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Sun, 31 Jan 2021 22:10:18 GMT

I noticed many videos and websites promote the Citi Double Cash Credit Card, I wonder if they're getting some sort of big referral fee for doing so? I even see many forum members promote this card as well.

So, let me get this straight on how the Citi Double Cash Credit Card works:

Get 1% up front for purchases, but if you use a statement credit towards the balance, the other 1% doesn't apply to that amount.
$25 minimum redemption.
Double Cash and Dividend cards will have Extended Warranty and Purchase Protection benefits removed in September. (Purchases made until that day will get the benefit for the entire benefit length, even past September.)
3% Foreign Transaction fee.
Reward expiration. Citi says cash rewards balances “expire” if you don’t earn cash back from purchases or payments for 12 months.

I've been using my PayPal Cashback Mastercard.

I get a REAL 2% cashback up front on ALL purchases that I make.
There's NO Foreign Transaction Fees.
There's NO minimum redemption amount.

Am I missing something here or is Citi Double Cash a lot better than I give it credit for?

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

fatcomic — Sun, 31 Jan 2021 22:56:49 GMT

For the most part you got it. It does earn 2% with an * beside it. The * being as you mentioned, if you redeem your cash back earnings as a statement credit, you don't earn 1% back on those earning (as a payment). To get around that, I direct deposit them into my bank account and then just make a payment from my bank account to earn the 1% on the payment.

Some people don't like the minimum $25 redemption, I don't like it either but it is what it is. Back when this was our daily driver it was never a problem to earn at least $25 a month, most months it was about $60 in rewards. Now I use it for recurring bills so it takes a couple of months to earn over $25.

One nice thing about the card is it has always gave us immedicate credit for payments, especially if you make multiple payments per month because of a low SL.

The reason I took it out of my wallet is just the credit limit on the card, it is lower compared to some other cards, I started dancing with the cards that shown me more love.

As for the foreign transaction fee, I never used it overseas so it wasn't a big deal. A lot of the benefits have been nerfed, I never looked at it for the add-on benefits just for cash back so it has met that need.

If you have the PayPal 2% card, I'm not sure you would benefit anything from having the Citi DC unless you wanted to get away from Synch, which could be a good reason.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Sun, 31 Jan 2021 22:48:46 GMT

The one big advantage of the card to some is that it can give 2 TYP per $ instead of cashback. For some redemptions, 2 TYP can be worth much more than 2%

But if you stick to using it as cashback, yes, not that great, I much prefer my PPMC, others like Penfed and there are many alternatives. Like the OP, I am somewhat surprised by the positive coverage of the DC, as I think some of the features make it a poor choice, but then Venture gets awards as well!

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Ficoproblems247 — Sun, 31 Jan 2021 22:52:04 GMT

I also don't know if there is any reason to jump ship if you have the PPMC. Some people with massive Sync exposure had major issues with all of their lines being shut down but with what's in your sig I certainly wouldn't think that would be a problem. I've been very happy with my DC. I went for it because Citi kept sending me mailers at the very beginning of my rebuild. I applied when my scores weren't all that great and started with a 1K SL. I've been able to grow it to 6K in just over a year and is my daily driver for non-category spend. No complaints about it so far. I like the instant payment crediting, the fact you can direct deposit your cash back, and their app is pretty decent.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Sun, 31 Jan 2021 23:00:22 GMT

People like the DC because it can be used to fund deposit accounts without a cash advance fee where the one time I tried this with my PayPal Cashback, I got dinged with a fee and no rewards.

Citi is less twitchy than Sync is so that's another benefit.

Citi has virtual credit card numbers and notifications that work right and tends to send out more promos like BT offers, offers APR reductions, and does flex loans. Sync is pretty barebones and generally high APR.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Remedios — Sun, 31 Jan 2021 23:12:17 GMT

Mine was PCed from gutted Premier, so that's what I like about it the best, it's not Premier.

It was either that, or close it.

While I'm not dwelling on cash back cards too much, I suppose having one is okay, and I'd rather not deal with Synchrony if at all possible.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Mon, 01 Feb 2021 00:42:14 GMT

I liked it before because at the time it was the ONLY 2% card I knew. I keep it now because I always get targeted for promo aprs and sometimes good bt transfers offers(pre-covid)

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Bankrupt2019 — Mon, 01 Feb 2021 00:53:01 GMT

The 1.99% purchase offers are nice, but I rarely ever carry a balance these days, so not terribly useful.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Mon, 01 Feb 2021 01:15:52 GMT

Thanks all for sharing your feedback on the Citi DC.

As far as anything negative I would have to say about PPMC or Synch, this past December, I charged $4,300 onto my PPMC (first time going to Disney World for Christmas). Once it showed up on my balance, I immediately tried to pay the $4,300. And you know what happened? After a week or so, they released $2,000 to my Available to Spend and put a Hold on the remaining $2,300 for several weeks till it showed up finally. Meanwhile, my checking account showed that it cleared many, many weeks before. It even showed that it cleared up on the Synch UI, but the bastards wouldn't release my money.

In the end I learned, don't pay off more than $2,000 at a time. I should've just paid $1,999, waited a few days for it to clear, then pay another $1,999 and repeat till it's all paid off and clear. Not sure if all banks and CCs are like this?

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

wasCB14 — Mon, 01 Feb 2021 01:19:56 GMT

Last purchase on DC: Oct 30, 2019

Back in the ages of Price Rewind and Trick-or-Treating.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

imaximous — Mon, 01 Feb 2021 01:44:39 GMT

@Anonymous wrote:
The one big advantage of the card to some is that it can give 2 TYP per $ instead of cashback. For some redemptions, 2 TYP can be worth much more than 2%

But if you stick to using it as cashback, yes, not that great, I much prefer my PPMC, others like Penfed and there are many alternatives. Like the OP, I am somewhat surprised by the positive coverage of the DC, as I think some of the features make it a poor choice, but then Venture gets awards as well!

Yup. If the Citi TY travel partners work for you, the card is arguably the best of its kind. For non-bonus spend, Chase has FU that earns 1.5x URs. Amex BBP earns 2x MRs, but it's a business card and capped at $50k per year. Citi DC can get you 2x TYPs without any cap. If you're not into any of that, then it's just another 2% cashback card.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

imaximous — Mon, 01 Feb 2021 02:00:18 GMT

@Anonymous wrote:
Thanks all for sharing your feedback on the Citi DC.

As far as anything negative I would have to say about PPMC or Synch, this past December, I charged $4,300 onto my PPMC (first time going to Disney World for Christmas). Once it showed up on my balance, I immediately tried to pay the $4,300. And you know what happened? After a week or so, they released $2,000 to my Available to Spend and put a Hold on the remaining $2,300 for several weeks till it showed up finally. Meanwhile, my checking account showed that it cleared many, many weeks before. It even showed that it cleared up on the Synch UI, but the bastards wouldn't release my money.

In the end I learned, don't pay off more than $2,000 at a time. I should've just paid $1,999, waited a few days for it to clear, then pay another $1,999 and repeat till it's all paid off and clear. Not sure if all banks and CCs are like this?

That doesn't always happen. It could depend on a few things like, how long you've had the card; how often you make large payments or any recent changes to your payment method (new checking account); among other factors. I've had that happen with other banks too, but only in the beginning for a payment or two. Then again when making a large payment from a checking account that I just added.

I've had my PPMC for a little over 3 years and I've made single payments of close to $20k that cleared by the next day. Making less than $2k payments has nothing to do with holds.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Mon, 01 Feb 2021 02:04:52 GMT

@wasCB14 wrote:
Last purchase on DC: Oct 30, 2019

Yikes. Think they'll close it down on you any time soon for non-use?

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Aim_High — Mon, 01 Feb 2021 02:24:53 GMT

@Anonymous wrote:
I noticed many videos and websites promote the Citi Double Cash Credit Card, I wonder if they're getting some sort of big referral fee for doing so?

Yes. And IMO, one of the biggest reasons so many people have it, both on the forums and off, is due to that heavy Citibank marketing. It was also one of the earlier 2% cards, but now there are many other alternatives. Biggest benefit is that 2x TY points mentioned above which can payout above a 2% card. Beyond that, I personally believe it lags several of the other options on a line-item comparison.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Mon, 01 Feb 2021 02:51:46 GMT

@Anonymous wrote:
@wasCB14 wrote:
Last purchase on DC: Oct 30, 2019

Yikes. Think they'll close it down on you any time soon for non-use?

Mine was closed after about 18 months I think.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Credit12Fico — Mon, 01 Feb 2021 04:44:25 GMT

Citi DC used to be a competitive card. It is now a bare bones 2% card. It has no benefits beyond giving you access to a credit line and being able to dispute a transaction.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Credit12Fico — Mon, 01 Feb 2021 04:47:19 GMT

@Anonymous wrote:
Thanks all for sharing your feedback on the Citi DC.

As far as anything negative I would have to say about PPMC or Synch, this past December, I charged $4,300 onto my PPMC (first time going to Disney World for Christmas). Once it showed up on my balance, I immediately tried to pay the $4,300. And you know what happened? After a week or so, they released $2,000 to my Available to Spend and put a Hold on the remaining $2,300 for several weeks till it showed up finally. Meanwhile, my checking account showed that it cleared many, many weeks before. It even showed that it cleared up on the Synch UI, but the bastards wouldn't release my money.

In the end I learned, don't pay off more than $2,000 at a time. I should've just paid $1,999, waited a few days for it to clear, then pay another $1,999 and repeat till it's all paid off and clear. Not sure if all banks and CCs are like this?

Citi is not like this usually.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

wasCB14 — Mon, 01 Feb 2021 05:05:52 GMT

@Anonymous wrote:
@Anonymous wrote:
@wasCB14 wrote:
Last purchase on DC: Oct 30, 2019

Yikes. Think they'll close it down on you any time soon for non-use?
Mine was closed after about 18 months I think.

I really only got it as a PC from Prestige to keep my price rewinds in progress and to keep some extra price benefit cap vs. what I got from Costco alone. My cash back reward balance is 49 cents, so not much to worry about there.

Maybe I'll put a $1 Amazon reload on it. 5 cents in lost rewards isn't much for keeping an extended warranty active on some purchase I forgot about but may still have an electronic receipt for if it breaks.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Credit12Fico — Mon, 01 Feb 2021 06:06:03 GMT

@wasCB14 wrote:
@Anonymous wrote:
@Anonymous wrote:
@wasCB14 wrote:
Last purchase on DC: Oct 30, 2019

Yikes. Think they'll close it down on you any time soon for non-use?
Mine was closed after about 18 months I think.
I really only got it as a PC from Prestige to keep my price rewinds in progress and to keep some extra price benefit cap vs. what I got from Costco alone. My cash back reward balance is 49 cents, so not much to worry about there.

Maybe I'll put a $1 Amazon reload on it. 5 cents in lost rewards isn't much for keeping an extended warranty active on some purchase I forgot about but may still have an electronic receipt for if it breaks.

Your extended warranties will still apply even if the card is closed as far as I am aware. Those claims are handled by a third party. The purchase just needs to have been made on the card when it was open.

Re: What do you like about the Citi Double Cash Credit Card? Is it worth it?

Anonymous — Mon, 01 Feb 2021 06:21:14 GMT

@imaximous wrote:
@Anonymous wrote:
Thanks all for sharing your feedback on the Citi DC.

As far as anything negative I would have to say about PPMC or Synch, this past December, I charged $4,300 onto my PPMC (first time going to Disney World for Christmas). Once it showed up on my balance, I immediately tried to pay the $4,300. And you know what happened? After a week or so, they released $2,000 to my Available to Spend and put a Hold on the remaining $2,300 for several weeks till it showed up finally. Meanwhile, my checking account showed that it cleared many, many weeks before. It even showed that it cleared up on the Synch UI, but the bastards wouldn't release my money.

In the end I learned, don't pay off more than $2,000 at a time. I should've just paid $1,999, waited a few days for it to clear, then pay another $1,999 and repeat till it's all paid off and clear. Not sure if all banks and CCs are like this?
That doesn't always happen. It could depend on a few things like, how long you've had the card; how often you make large payments or any recent changes to your payment method (new checking account); among other factors. I've had that happen with other banks too, but only in the beginning for a payment or two. Then again when making a large payment from a checking account that I just added.

I've had my PPMC for a little over 3 years and I've made single payments of close to $20k that cleared by the next day. Making less than $2k payments has nothing to do with holds.

To answer your question, I had the card for about 17 months when the issue occurred. Same old checking account tied to it. Although I do believe you that it probably wouldn't happen after making a few large payments over time (and go through this ordeal each time till they quit doing it), after speaking with their customer service, if I would've kept the payment at $2,000 or below, I wouldn't have ran into the issue in the first place. That's their threshold when they see something out of the ordinary and I don't commonly make large payments like anything over $2,000. Making a payment greater than $2,000 would've triggered their HOLD mechanism.

So believe what you want, but because I don't plan on making payments greater than $2,000 that often (maybe 0-2 times per year), I will be following my own advice of $1,999 per payment because the pain of waiting many weeks to have it show up in the Available to Spend is too much to bear. I'd rather play it safe and just wait a few days like it usually takes.

Now, if I planned on making huge payments all of the time, I'd probably just grit my teeth, do it, and call their customer service each time till they quit it.