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The best cash back credit card: Citi Double Cash with no annual fee

October 12, 2020. Summarized by summa-bot.

The Citi Double Cash credit card has no annual fee and earns 2% cash back on every purchase you make.

See if you qualify for the Citi Double Cash credit card.

On top of having no annual fee, the Double Cash has one of the best and most straightforward earning rates across all credit cards.

For people who don’t spend a lot of money daily in a specific bonus category, such as dining, groceries or travel, earning flat-rate cash back probably makes the most sense, and there’s really no other major credit card available today that offers as high of an ongoing flat-rate return on every single purchase without an annual fee.

But if you’re an advanced credit card user, you can convert cash back earned with the Double Cash into Citi ThankYou Rewards travel points, with $1 in cash back equal to 100 ThankYou points.

Apply now for the Citi Double Cash credit card.

Lots of other credit cards offer what are known as “bonus categories,” meaning you’ll earn more rewards — either cash back or points and miles — for some types of purchases.

Also, in life, you usually get what you pay for, and since this is a credit card with no annual fee, you won’t find any great perks on the Citi Double Cash.

While many other credit cards offer hundreds of dollars in bonus rewards just for signing up and spending a minimum amount on the card in your first few months, you won’t get any bonus for signing up for the Double Cash.

Click here to apply for the Citi Double Cash credit card.

There aren’t any other major credit cards on the market that offer an ongoing 2% cash back on all purchases with no annual fee, but once you factor in sign-up bonuses that are available on cards other than the Citi Double Cash, some other options are worth considering.

For instance, the Chase Freedom Unlimited is a comparable flat-rate cash back credit card that earns 1. 5% cash back on all purchases but also currently comes with a $200 sign-up bonus after you spend $500 on purchases in your first three months from account opening.

It’ll take $40,000 in spending at 2% cash back on the Double Cash to make up that $200 bonus, which sounds like a lot — except that’s only 20 months if you usually spend $2,000 a month on your credit card.

But if you aren’t looking for travel luxury and don’t want to deal with the complexity of bonus categories, you likely can’t go wrong with the no-annual-fee Citi Double Cash card.

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