Citigroup makes the double cash back credit card easier to obtain for consumers with good credit scores

Ever secretly wished the cash back on your credit card was bigger? Well, with the new credit card from Citigroup, it’s possible, but only if you have good credit card score. Bumping the cash back up to 2% across all purchases, the Double Cash credit card, for example, will surprise you with the highest cash back reward. This is great news for consumers who are searching for high rewards rate which iwill not be complicated to obtain and use. A 2% rewards rate, makes the Citi Double Cash one of the most popular credit cards today.

This card has a new earning structure, which lets you rack up 1% back on all your purchases, but then an additional 1% when you pay your monthly debt off. Moreover, there’s no boundary as to the rewards you can earn, so you can earn unlimited 2% cash back every month.

This is how this structure works:

You’ll receive 1% cash back per every dollar spent
You’ll receive an extra 1% cash back per every dollar you pay off
You’ll benefit from a $0 annual fee

This is really a high rewards rate that is worth considering. Taking for granted that you pay off your balance in full every month, you basically get 1% back twice. That’s one of the highest current rewards rates on the market. Honestly, there are many competitive and attractive credit cards that offer similar cash back program, however, most do not offer a zero annual fee.

Since we have always been advocates of accountable credit card use, it’s nice to see a card that provides an incentive, or a bonus, to liquidate your charges in a timely manner. Even though you can pay back your balance over time and still earn the 1% cashback, the faster you pay off, the faster your rewards are acquired. As we have already mentioned, there are no limits to rewards earnings, all the Citi Double Cash Card’s rewards are truly limitless. The only limit to keep in mind is your ability to pay off your debt at the end of the month.

We personally reviewed the pro’s and con’s of this credit card and fell in love with the 2% cash back rate and zero annual fees. The only cons worth mentioning however, are:

Unusually high interest rates, making it highly inadvisable to borrow on this card.
High foreign exchange fee of 3%, making it inadvisable to use the card abroad.
Not only you have to pay off on time, but you also have to pay your debt in full to benefit from the full 2% cash back and at the same time not lose money in paying high interest.

Who should consider the Citi Double Cash Card?
Taking into account everything mentioned above, the new credit card from Citigroup is a fantastic choice if you’re looking for a card with a higher cash-back rewards system, if you have a good credit card score, and are confident, you can pay off your card every month.

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