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Citi Double Cash Card just dropped the 2% cashback to 2% Thank you points and became unattractive

421 242 February 4, 2022 at 04:52 AM in Finance (4)
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Last Edited by Universeisgr8 February 5, 2022 at 02:23 PM
-25 Deal Score
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Got an email today from Citibank about the changes announced for the Citi Double Cash card cashback system. Now instead of earning the 2% cashback and be able to redeem always as cash, you will earn, starting 3/28/22, one Thankyou point every one dollar spent and one Thankyou point after paying the card statement.
So at this moment, you will still earn 2% cashback in points but this may not be as straightforward for some as just getting pure cash back and there is a risk of points devaluation in the future.

I believe this change is not targeted but nationwide.
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Last Edited by bluekiwi February 5, 2022 at 06:18 AM
You will earn ThankYou Points which you can redeem for a bunch of options, including cash at the same redemption rate as before.

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Joined Oct 2006
L4: Apprentice
> bubble2 358 Posts
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cevamal
02-06-2022 at 10:31 AM.
02-06-2022 at 10:31 AM.
Quote from mrburns :
Thanks op. I think this is noteworthy as it's potentially an indication of additional requirements for redemption or even worse dilution...

as long as I can apply for statement credit with no limitations I'm happy
Do you still get the second 1% back if you use it as a statement credit?

Quote from BeigeClass397 :
No point in having doublecash.
Get amex blue businesss cash.

2% cashback, redeems instantly at the end of every month, has amex offers, has purchase protection, has extended warranty, doesn't have Citi's garbage payment processing system.

No clue why anyone uses doublecash in 2022. ( or any year )
Can an individual get a business card?
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Joined Jul 2006
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> bubble2 1,321 Posts
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PrincipalMember
02-07-2022 at 10:55 AM.
02-07-2022 at 10:55 AM.
Quote from BeigeClass397 :
No point in having doublecash.
Get amex blue businesss cash.

2% cashback, redeems instantly at the end of every month, has amex offers, has purchase protection, has extended warranty, doesn't have Citi's garbage payment processing system.

No clue why anyone uses doublecash in 2022. ( or any year )
1. There is nothing wrong with Citi double cash and their payment processing system. I get the 2% and they take their payment out of my TD account and I never had to do anything different from any other card.

2. Some of us value not applying for another card - save the card application when the stakes are higher. So if somebody has Citi Double Cash, I don't see any harm in continuing to use it.

3. Instant 2% versus when the payment posts - that is nitpicking. At least I am not that broke that I am waiting for that 2% to spend it immediately.

4. Amex offers - at least I have other Amex cards - so I get Amex offers.

5. Business card does not offer all the consumer protections - plus at least I don't feel that it is justified to get a business card when I don't have a business.

6. I have a nice 40K+ credit limit with citi double cash. Very nice to have when it comes to paying federal taxes - I get free use of the money for 40ish days.

7. Warranty - I have to agree with you - Amex is the best in the business - but I have other Amex cards for that.
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Joined May 2007
scientia potentia est
> bubble2 1,996 Posts
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APlusIvyLeaguer
02-11-2022 at 08:14 PM.
02-11-2022 at 08:14 PM.
Quote from PrincipalMember :
1. There is nothing wrong with Citi double cash and their payment processing system. I get the 2% and they take their payment out of my TD account and I never had to do anything different from any other card.

2. Some of us value not applying for another card - save the card application when the stakes are higher. So if somebody has Citi Double Cash, I don't see any harm in continuing to use it.

3. Instant 2% versus when the payment posts - that is nitpicking. At least I am not that broke that I am waiting for that 2% to spend it immediately.

4. Amex offers - at least I have other Amex cards - so I get Amex offers.

5. Business card does not offer all the consumer protections - plus at least I don't feel that it is justified to get a business card when I don't have a business.

6. I have a nice 40K+ credit limit with citi double cash. Very nice to have when it comes to paying federal taxes - I get free use of the money for 40ish days.

7. Warranty - I have to agree with you - Amex is the best in the business - but I have other Amex cards for that.
Can you expand on point #6? I don't understand it:
"6. I have a nice 40K+ credit limit with citi double cash. Very nice to have when it comes to paying federal taxes - I get free use of the money for 40ish days."
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Joined Jul 2006
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> bubble2 1,321 Posts
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PrincipalMember
02-12-2022 at 10:57 PM.
02-12-2022 at 10:57 PM.
Quote from APlusIvyLeaguer :
Can you expand on point #6? I don't understand it:
"6. I have a nice 40K+ credit limit with citi double cash. Very nice to have when it comes to paying federal taxes - I get free use of the money for 40ish days."
You can pay taxes with your credit card and they charge slightly less than 2% fee but since the card generates 2%, the fee is covered. But if I charge on Apr 13, then it gets billed on the next statement and then it gives me another 20 days to pay. So the money remains invested in the meantime instead of leaving my account near Apr 13.

How to end up with so much required for taxes without having a penalty is another topic by itself.
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