Citi appears to be launching a new card called the Double Cash card.
- No Annual Fee
- 1% cash back on purchases
- additional 1% cash back upon re-payment
- (total of 2% cash back)
- No Cap on the cash back
There is no VISA/MC/AMEX logo on the promotional material, I don't know exactly what that means for merchant acceptance. I'd like more info on this.
Signup promotions: I heard that there is a mailer that offers $200 cash back bonus upon spending $1000. The website doesn't offer any signup bonus, though.
The cash back can expire after 12 months if the card is un-used.