Why the Citi Double Cash Is Now a Rewards Powerhouse

Cardholders now earn Citi ThankYou points directly, which can be converted to cash back or used as is.
Keith M. Rosso
By Keith M. Rosso 
Edited by Mary M. Flory

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You don't have to pay an annual fee to find a credit card with a lucrative rewards earning structure. Just take a look at the Citi® Double Cash Card. It has $0 annual fee and offers a combined 2% rewards rate with no cap. You earn 1% when you make a purchase and 1% when you pay it off.

Plus, after a recent change, you’re not limited to redeeming cash-back rewards exclusively. As of March 2022, cardholders now earn Citi ThankYou points rather than cash back, which you can transfer to airline transfer partners. However, those points don't have to remain points — cardholders can redeem points earned with the Citi® Double Cash Card for cash back at a rate of one cent per point.

The Citi® Double Cash Card is worth considering whether you’re new to rewards credit cards or just looking for a no-annual-fee card with a high earning rate.

Valuable rewards

The Citi® Double Cash Card doesn’t typically offer a welcome bonus. Even so, the ongoing rewards structure can make up for it once the limited-time offer expires, depending on your spending habits.

Here’s an example of the rewards you can earn with the Citi® Double Cash Card. Let’s say you make $1,000 worth of purchases each month and pay off the balance in full. You’ll earn 200 ThankYou points ($40 in cash rewards) each month. That’s $480 worth of cash back over the course of a year, which is not bad for a card with a $0 annual fee.

To redeem your points for cash back, you can choose a statement credit, check or credit to a linked account.

The bottom line

This $0-annual-fee card offers a straightforward rewards structure with a high earn rate. The ability to convert cash rewards to Citi ThankYou points provides greater flexibility and value.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:

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