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

[Credit12Fico]

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@Anonymous wrote:

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@Credit12Fico wrote:

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Even some of the Paypal cards (the World version) have cell phone protection!

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Thanks for the insight, a few months ago I was automatically upgraded to the "PayPal Cashback World Mastercard" and didn't think anything of it.  Now that you mentioned it, I did some research and found that there is very little info on what exactly the "PayPal Cashback World Mastercard" gives in terms of benefits besides the occasional mention of "cell phone protection" from MyFico.com members.

Based on my own experience with the card, it got a new "look", they added the word "World" to it, and I'm sure they make a bit more $$ per swipe than with the basic MC.  I wish PayPal took a hint from the Apple Card and Amazon Prime Visa Signature card and created a more aesthetically pleasing design -- I think the 2% cashback with no foreign transaction fees and no minimum redemption is worthy of a better look.

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I cannot find the documentation at the moment but I found it once before. There is a "mastercard guide to benefits" specific to that Paypal World card on the internet. The only addition is the cellphone coverage which has the same terms as the other mastercards issued cards with the coverage. $600 or something.

[LowAPRsMoreRewards]

One benefit a World or World Elite MC offers that was useful pre-COVID, and hopefully remains when cinemas are back in full swing again, is the doubling of Fandango VIP points. I don't think lenders need to sign up their specific cards to get this. 

[Namaste7]

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@Anonymous wrote:

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I would love to know what everyones "end game cards" would be.  I think many of us would benefit from that sort of knowledge.  Can anyone look at my siggy and see if there's something I'm missing?  My wife and I don't travel much, so that eliminates a bunch of travel cards.

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As much as I love the AMEX trio (CS Amex Plat, Amex Gold or Green, Amex BBP), I lean towards the BofA trio (Premium Rewards and two Cash Rewards cards). For a $95AF and $100k in (retirement) assets, one earns

• 5.25% on category spend and 3.5% on grocery and warehouse purchases up to $20k per year;
• 3.5% on travel and dining
• 2.625% non-category

I'd pair the BofA trio with a Citi DC (for the reasons @Anonymous mentioned within this thread), the PenFed Promise Visa for no fee BTs, and my CU PLOC.

[Aim_High]

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@Namaste7 wrote:

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@Anonymous wrote:

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I would love to know what everyones "end game cards" would be ...

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As much as I love the AMEX trio (CS Amex Plat, Amex Gold or Green, Amex BBP), I lean towards the BofA trio (Premium Rewards and two Cash Rewards cards). For a $95AF and $100k in (retirement) assets, one earns

• 5.25% on category spend and 3.5% on grocery and warehouse purchases up to $20k per year;
• 3.5% on travel and dining
• 2.625% non-category

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You're making me rethink my decision not to put a second Cash Rewards card on my short list, @Namaste7.  It really is a great combo!  I added the Premium Rewards with Platinum Honors last year but have not been fully utilizing it yet since I have other competitive options. 

By the way, for many the effective AF is not - $95; it's a net positive + $30 back in your pocket.  PR is one of the few cards that completely offsets the AF with credits, $100 airline fee credit annually and also $100 1x every 4 years for TSA Global Entry (Average $25/year.) 

[Namaste7]

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@Aim_High wrote:

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@Namaste7 wrote:

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@Anonymous wrote:

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I would love to know what everyones "end game cards" would be ...

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As much as I love the AMEX trio (CS Amex Plat, Amex Gold or Green, Amex BBP), I lean towards the BofA trio (Premium Rewards and two Cash Rewards cards). For a $95AF and $100k in (retirement) assets, one earns

• 5.25% on category spend and 3.5% on grocery and warehouse purchases up to $20k per year;
• 3.5% on travel and dining
• 2.625% non-category

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You're making me rethink my decision not to put a second Cash Rewards card on my short list, @Namaste7.  It really is a great combo!  I added the Premium Rewards with Platinum Honors last year but have not been fully utilizing it yet since I have other competitive options. 

By the way, for many the effective AF is not - $95; it's a net positive + $30 back in your pocket.  PR is one of the few cards that completely offsets the AF with credits, $100 airline fee credit annually and also $100 1x every 4 years for TSA Global Entry (Average $25/year.) 

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@Aim_High- You have a great mix of cards. As a Platinum Honors member, the BofA trio (1 PR / 2CRs) is a win/win. Plus you have great complimentary cards: low rate (AOD and NFCU) and travel perk (AMEX Gold and Chase cards) cards. You have flexibility to float between cash-back or point systems without wasting HPs.

[GrandBaker]

It was a trend setter when it came out a few years ago with its 2% cashback for every purchase without annual fee. Since then other cards have matched or beat this offering. Also, this card has lost some of its benefits so it's been a double whammy. It still is a simple no-frills cashback card IMHO but for some looking to maximize cashback there are better options today.

[cws-21]

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@Aim_High wrote:

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@Namaste7 wrote:

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@Anonymous wrote:

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I would love to know what everyones "end game cards" would be ...

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As much as I love the AMEX trio (CS Amex Plat, Amex Gold or Green, Amex BBP), I lean towards the BofA trio (Premium Rewards and two Cash Rewards cards). For a $95AF and $100k in (retirement) assets, one earns

• 5.25% on category spend and 3.5% on grocery and warehouse purchases up to $20k per year;
• 3.5% on travel and dining
• 2.625% non-category

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You're making me rethink my decision not to put a second Cash Rewards card on my short list, @Namaste7.  It really is a great combo!  I added the Premium Rewards with Platinum Honors last year but have not been fully utilizing it yet since I have other competitive options. 

By the way, for many the effective AF is not - $95; it's a net positive + $30 back in your pocket.  PR is one of the few cards that completely offsets the AF with credits, $100 airline fee credit annually and also $100 1x every 4 years for TSA Global Entry (Average $25/year.) 

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I do not have $100k to park in BofA, though I wish I did because it would be great to have two or three of the Cash Rewards cards. I am sure no one purposefully keeps that kind of money with BofA just for the Preferred Rewards Program, however, I always wonder if it is worth it having such a large sum of money with BofA, specifically, rather than to have it invested elsewhere and otherwise. So, for those of you who do, is it worth it?

[longtimelurker]

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@cws-21 wrote:

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I do not have $100k to park in BofA, though I wish I did because it would be great to have two or three of the Cash Rewards cards. I am sure no one purposefully keeps that kind of money with BofA just for the Preferred Rewards Program, however, I always wonder if it is worth it having such a large sum of money with BofA, specifically, rather than to have it invested elsewhere and otherwise. So, for those of you who do, is it worth it?

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I think most have it invested in Merrill Edge which counts, and it can be a rolled over IRA, invested in index ETFs, or stocks or whatever.  I agree depositing $100K in cash would make little sense.

[cws-21]

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@longtimelurker wrote:

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@cws-21 wrote:

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I do not have $100k to park in BofA, though I wish I did because it would be great to have two or three of the Cash Rewards cards. I am sure no one purposefully keeps that kind of money with BofA just for the Preferred Rewards Program, however, I always wonder if it is worth it having such a large sum of money with BofA, specifically, rather than to have it invested elsewhere and otherwise. So, for those of you who do, is it worth it?

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I think most have it invested in Merrill Edge which counts, and it can be a rolled over IRA, invested in index ETFs, or stocks or whatever.  I agree depositing $100K in cash would make little sense.

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@longtimelurker, I think you're probably right, but, even in the case of Merrill Edge, is it the best place to invest one's money? By the way, I am not, at all, being facetious, given I really just want to know. Furthermore, is depositing to BofA and/or investing in Merrill Edge coincidental and individuals doing so, sort of, accidentally become eligible for the Preferred Rewards Program or are those individuals intentionally depositing/investing $100k with BofA/Merrill Edge to be eligible?

[longtimelurker]

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@cws-21 wrote:

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@longtimelurker wrote:

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@cws-21 wrote:

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I do not have $100k to park in BofA, though I wish I did because it would be great to have two or three of the Cash Rewards cards. I am sure no one purposefully keeps that kind of money with BofA just for the Preferred Rewards Program, however, I always wonder if it is worth it having such a large sum of money with BofA, specifically, rather than to have it invested elsewhere and otherwise. So, for those of you who do, is it worth it?

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I think most have it invested in Merrill Edge which counts, and it can be a rolled over IRA, invested in index ETFs, or stocks or whatever.  I agree depositing $100K in cash would make little sense.

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@longtimelurker, I think you're probably right, but, even in the case of Merrill Edge, is it the best place to invest one's money? By the way, I am not, at all, being facetious, given I really just want to know. Furthermore, is depositing to BofA and/or investing in Merrill Edge coincidental and individuals doing so, sort of, accidentally become eligible for the Preferred Rewards Program or are those individuals intentionally depositing/investing $100k with BofA/Merrill Edge to be eligible?

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I believe that most of the people doing it on this site invested (transferred) some funds will Merrill just to be eligible.   Obviously some, especially in the wider world, would have been with Merrill and then find out about the cards.

If you are just holding stocks, ETFs etc, ML is going to be similar to other brokerages.    The differences are mainly going to be transaction fees, availability and quality of research tools etc, neither of which matter much if you are just going to hold your shares or ETFs for quite a while.