Citi is well known for offering quality credit cards with great balance transfer offers, but the Citi Double Cash card, in particular, is a strong contender for cash back rewards.
The Citi Double Cash card has no annual fee and offers unlimited 1% cash back on purchases plus an additional 1% cash back as you pay for those purchases.
This card also has a variable interest rate of 14.24% to 24.24% and a balance transfer APR of 0% for 18 months.
Even though Citi doesn’t have the highest cash back rate, the fact that you can earn unlimited cash back sets this card apart from others.
In this post, we’ll touch on:
- How to earn and track cash back rewards with your Citi Double Cash card
- Navigating through Citi’s online portal to access cash back rewards
- How to redeem cash back rewards
How to Access Cash Back with Citi
To access your cash back rewards with your Citi Double Cash card, you’ll need to log in to your account by visiting Citi.com/credit-cards. You’ll see a screen similar to the one below. Then, you can log in with your credentials.
Next, you’ll see the main dashboard and all your card information. You’ll also see your cash back balance off to the right.
I have two Citi credit cards so I scrolled down to show my Citi Double Cash card along with where you can expect to see your cash back amount.
How to Redeem Cash Back
If you have a cash back balance that you’d like to redeem, you’ll want to click on the button that says “View/Redeem Cash Rewards.”
Once you click that button, you’ll be taken to a page that shows you an entire summary of your cash back earnings per billing statement.
Your cash back earnings will be split up between cash back earned from purchases and cash back earned from payments.
I just signed up for the Citi Double Cash card and have yet to make my first purchase so my cash back amount is currently $0, but when you have a balance, you’ll click the green button that says “Redeem” to move forward with redemption options.
Next, you’ll be taken to a page with different redemption prompts to choose from. You need a balance of at least $25 in cash back before you can successful redeem your earnings.
As you can see, there are four different ways to redeem cash back with your Citi Double Cash card, and here is an explanation of each of them.
If you choose to redeem your cash back for a gift card, you must click the gift card option, then you’ll be directed to Citi’s gift card marketplace where you can choose from retail, restaurant, entertainment, and electronic gift cards.
Gift cards are worth $25, $50, and $100, and once you select one, Citi will mail it to you.
You can also opt to use your cash back earnings as a statement credit to lower the current balance you owe on your Citi Double Cash card. Your statement credit will post to your account within 2-3 business days and will appear on your next statement after it is posted.
It’s also important to realize that Citi does not count a statement credit as a payment even though it will reduce your current balance. You must still make at least your minimum monthly payment by the due date if you want to avoid getting charged a late fee.
You can redeem cash back by transferring it directly to your bank account whether it’s a Citi account or not. In order to use this redemption option, you must have either linked your Citi checking or savings account OR have paid a Citi credit card bill at least two times from a non-Citi checking account.
Once you’ve done either of these things, all you need to do is enter in the amount you wish to deposit along with your account information when you redeem cash back via this option. The direct deposit will post to your account within 1-2 business days in most cases.
The final option you have to redeem your cash back is to do so by paper check. Just make sure Citi has the correct address on file for you, then allow 7-10 business days for the check to arrive in the mail.
The Citi Double Cash card has one of the easiest online cash back redemption processes, along with plenty of options to accommodate your preferences.
Keep in mind that payments based on balance transfers, interest, fees, and cash advances won’t earn 1%, but you will earn cash back on all other purchases plus additional cash back when you make at least your minimum monthly payment on time.
The Citi Double Cash card is unique in that it rewards you for paying your monthly credit card bill on time, which is a good habit to adopt.
While there is a minimum cash back balance required in order to redeem your rewards, you can track your progress regularly by logging into Citi’s online portal.