Citi has embraced the season of giving by unveiling a new welcome bonus offer for its Citi Double Cash® Card, one of CNBC Select's top picks for cash-back credit cards. As of Nov. 14, new cardholders can earn $200 in cash back if they spend a minimum of $1,500 on purchases during the first six months of account opening.
If you already have this card in your wallet, don't worry — Citi's also increasing the amount of cash back you earn on hotel, car rentals and attractions booked through its travel portal from now through the end of 2024.
Below, CNBC Select breaks down the new welcome bonus and how you can take advantage of the offer.
Citi Double Cash® Card
Rewards
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
Welcome bonus
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Annual fee
$0
Intro APR
0% for the first 18 months on balance transfers; N/A for purchases
Regular APR
19.24% - 29.24% variable
Balance transfer fee
For balance transfers completed within 4 months of account opening, an intro balance transfer fee of 3% of each transfer ($5 minimum) applies; after that, a balance transfer fee of 5% of each transfer ($5 minimum) applies
Foreign transaction fee
3%
Credit needed
Fair/Good/Excellent
See rates and fees. Terms apply.
Read our Citi Double Cash® Card review.
Citi Double Cash Card's new welcome bonus
New cardholders currently can earn 20,000 ThankYou® Points, which can be redeemed for $200 cash back after spending $1,500 on purchases in the first 6 months of account opening. The Double Cash® Card typically doesn't offer a welcome bonus, which makes this offer worth considering if you were on the fence about getting this card and needed a little nudge.
That means that by the time you've met the minimum spending requirement and paid off the purchases, you will have earned at least $230 worth of tax-free, cash-back rewards thanks to the card's 2% cash back on purchases. And because of a limited-time offer that runs until December 31, 2024, you could end up earning even more depending on how you spend — Citi is giving 5% cash back on hotels, car rentals and attractions booked through the Citi Travel℠ portal.
How to make the most of this bonus
Note that the cash back you'll earn is awarded in the form of Citi ThankYou® Points, which can then be redeemed in a variety of ways, including statement credits, a mailed check or direct deposit, gift cards, merchandise and travel.
If you have another Citi ThankYou® points earning card like the Citi Premier® Card, you can also transfer your Citi Double Cash points to travel partners like Emirates Skywards and Turkish Airlines, where you can really maximize the value of your points.
Citi Premier® Card
Rewards
3X points per $1 spent at restaurants, supermarkets, gas stations, and on hotels and air travel, 1X points on all other purchases
Welcome bonus
Earn 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel℠ portal through June 30, 2024.
Annual fee
$95
Intro APR
None
Regular APR
21.24% - 29.24% variable
Balance transfer fee
5% of each balance transfer, $5 minimum
Foreign transaction fee
None
Credit needed
Good/Excellent
Terms apply.
The Citi Premier is discontinued and no longer available for new applicants.
This cash-back card is a great option for those who tend to make lots of purchases within a variety of spending categories — such as restaurants, travel, gas and groceries, for example — or for anyone who simply doesn't want to bother tracking them at all.
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Bottom line
Whether you're looking to save money on daily expenses or maximize your rewards on purchases, the Citi Double Cash® Card stands out as a reliable option. However, before applying for a new card, be sure to check your credit score to ensure you have a high probability of being approved and avoid spending beyond your means just to chase a credit card welcome bonus.
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