Citi Double Cash: Is it Worth It?

[A1Credit]

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? 

[UpperNwGuy]

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%.

[A1Credit]

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@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%.

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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. 

[Remedios]

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

[Anonymous]

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.   

[A1Credit]

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@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.   

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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. 

[MrDisco99]

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.

[A1Credit]

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@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.

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

[Anonymous]

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@A1Creditwrote:

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@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.

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

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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%.   

[toadsworth]

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.