Our take: While many rewards cards have rotating spending categories you need to track and activate, the Citi® Double Cash Card offers a simple reward structure. You’ll earn a cool 2% cash back on every purchase with no caps on how much you can earn, so it’s an excellent no-fee credit card for those who value simplicity. The balance transfer rate provides a cherry to this already attractive sundae.

ProsGenerous 18-month 0% introductory APR on balance transfersFlat cash-back rateNo annual feeConsCharges foreign transaction feesNo added insurance or travel benefits

Citi Double Cash: Highlights

Card type: Cash back, Balance transfer

Welcome bonus: $200 cash back after you spend $1,500 on purchases in the first 6 months of your Citi Double Cash® card account opening.

Annual fee: $0

Rewards: Unlimited 2% cash back on every purchase—1% at the time of the transaction and 1% when you pay your credit card bill.Overview

Whether you spend money at the grocery store or on entertainment, the Citi Double Cash Card stands out from other credit cards due to its generous flat cash-back rate. You’ll earn unlimited 2% cash back on every purchase—1% at the time of the transaction and 1% when you pay your credit card bill.

Who is the Citi Double Cash card good for?

Its simple structure makes it an attractive alternative to more complex cards that require bonus category activation and quarterly spending limits to earn a higher cash-back rate. For those who want a basic card for everyday purchases and no annual fee, the Citi Double Cash Card is a smart choice and one of the most appealing cash-back credit cards available. 

It’s also a useful choice for those who want to complete a balance transfer to pay off credit card debt and save money. The Citi Double Cash card has a 0% introductory annual percentage rate (APR) offer for 18 months, which is a longer promotion than many other cards. It gives you a year and a half to pay down your balance without paying interest.

Who shouldn’t get the Citi Double Cash?

If you want to use your credit card for international travel, the Citi Double Cash isn’t the best choice as it charges a foreign transaction fee. The card is also light on other benefits you can find on similar cash back cards.

Citi Double Cash: Rewards

The Citi Double Cash Card has a very basic rewards structure, but it’s generous: You earn unlimited cash back on every purchase you make, with no rotating spending categories to track. You earn rewards in the form of Citi ThankYou points, which are generally worth one cent each. ThankYou points won’t expire as long as your account is open.

Does the Citi Double Cash Card offer a bonus?

At present, the Citi Double Cash Card offers $200 cash back after you spend $1,500 on purchases in the first 6 months of your account opening.

How to redeem Citi Double Cash rewards 

Cash back is the easiest way to use your Double Cash rewards.

To redeem your ThankYou points for cash, you can redeem them as statement credits on your credit card bill or deposits to your checking or savings account. There are no point minimums for statement credit or deposit redemptions. 

If you redeem your points for a check, you must have a minimum of 500 points, which translates to a $5 redemption value. 

Gift cards

Citi allows you to redeem your points for gift cards from major retailers and restaurant chains, including Landry’s Restaurants, Pottery Barn, Starbucks, and Ulta Beauty. The minimum gift card amount and point values vary by company, but most require at least 2,500 ThankYou points. 

Most cards provide a value of one cent per point, so 2,500 ThankYou points will earn you a $25 gift card. However, Citi has special offers that make your points go further.

Travel 

You can also book travel arrangements, including flights, hotel accommodations, and rental cars, through the Citi Travel portal and use your ThankYou points to pay for some or all of your trip. Point valuations vary by provider but hover around 1 cent per point. 

Transfer to partners

You can transfer your ThankYou points to one of Citi’s travel partners like JetBlue Airways or Virgin Atlantic. This option makes the most sense if you also have a Citi Premier card as you can combine your points and get higher redemption rates. Transferring to a partner company could give you more value for your points, but values vary by partner. 

Rates and fees

Purchase APR: 19.24%–29.24% variable

Intro balance transfer APR: 0% intro APR on balance transfers for 18 months (after that, the variable APR will be 19.24%–29.24%, based on your creditworthiness) with a fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, the fee will be 5% of each transfer (minimum $5)

Annual fee: $0

Foreign transaction fee: 3% of each purchase transaction in U.S. dollarsAdditional benefits

When it comes to credit card benefits, the Citi Double Cash Card’s benefits are relatively sparse. It doesn’t offer travel insurance, nor does it offer perks like extended warranty protection. 

You will get very basic benefits with the Citi Double Cash card such as:

ID Theft protection: The ID Theft Protection program is a free optional perk for cardmembers. If you choose to enroll in the program, Mastercard will monitor your information and alert you if suspicious activity occurs. 

Citi Entertainment: With Citi Entertainment, cardholders get special access to special ticket presales for concerts, sports, and other experiences. Credit cards similar to the Citi Double Cash Card

If the Citi Double Cash Card isn’t a good fit for your needs, consider these two alternatives:

Wells Fargo Active Cash vs. Citi Double Cash 

Like the Citi Double Cash Back Card, the Wells Fargo Active Cash Card allows you to earn a flat 2% cash back rate on all purchases, and it doesn’t have an annual fee. While the Citi Double Cash Card’s benefits are minimal, the Wells Fargo Active Cash Card is more robust, offering benefits like cell phone protection. 

Plus, it has a special bonus offer for new cardmembers. If you spend at least $500 on qualifying purchases within the first three months of opening an account, you can get a $200 bonus. 

But the Citi Double Cash Card is the winner when it comes to balance transfer offers. The Wells Fargo Active Cash card offers 0% APR for 15 months, while the Citi Double Cash Card offers 0% APR for 18 months on balance transfers, so the Citi card would give you more time to repay your debt without interest.

Alliant Cashback Visa Signature vs. Citi Double Cash

If you want to earn a high cash-back rate without the hassle of rotating spending categories, the Alliant Cashback Visa Signature Card is a leading option. It offers up to 2.5% cash back on first the $10,000 of purchases and unlimited 1.5% cash back on all purchases after that. It doesn’t have an annual fee, nor does it charge foreign transaction fees. 

What’s the catch? To earn the highest cash-back rate, you must open an Alliant high-rate checking account and maintain an average daily balance of $1,000 or more. YAnd you also must make at least one direct deposit, mobile check deposit, or electronic transfer per month. Otherwise, you’ll only earn 1.5% cash back on your purchases. 

Unlike the Citi Double Cash Card, the Alliant card has a robust list of added benefits, including auto rental coverage, travel accident insurance, roadside dispatch, and extended warranty protection. As a result, the Alliant Cashback Visa Signature Card is likely a better choice if you travel often. Otherwise, if you just want a cash-back card without having to open a checking account, you’ll earn more rewards with the Citi Double Cash Card. 

Is the Citi Double Cash Card right for you?

The Citi Double Cash Card makes sense if you’re looking for a basic, easy-to-use card to earn rewards on your routine purchases, including groceries, gas, or utilities. You’ll earn up to 2% cash back on your purchases without worrying about activating bonus categories or keeping track of quarterly offers. It’s also great for saving on interest with the balance transfer intro offer.

However, if you travel often, you may want to look for another card. The Citi Double Cash Charges charges foreign transaction fees, and it doesn’t provide travel insurance or other benefits, so other cards will likely provide more value. 

Frequently asked questions

What credit limit will I get with the Citi Double Cash Card? 

Your credit limit depends on your income and credit history. For the Citi Double Cash Card, the minimum credit limit is $500, but some users report credit limits that are substantially higher, with some as high as $25,000. 

Is it hard to get approved for the Citi Double Cash Card? 

Despite its high cash-back rate, the Citi Double Cash Card is relatively easy to qualify for as a new customer. According to Mastercard, applicants with fair to excellent credit are eligible for the card, meaning those with a FICO score of 580 or higher may qualify. 

Does the Citi Double Cash Card really pay 2% cash back?

Yes, you really can earn 2% cash back with the Citi Double Cash Card. You’ll earn 1% cash back at the time of purchase and another 1% when you make payments toward your balance, whether you pay it in full right away or over time. 

Please note that card details are accurate as of the publish date but are subject to change at any time at the issuer’s discretion. Before applying, please contact the card issuer to verify rates, fees, and benefits.

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Original: Fortune | FORTUNE: Citi Double Cash CardReview: earn 2% cash back on every purchase