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With a tip of the hat to Gary from View from the Wing, who seems to always be in the know :-), there is a new cash-back card:

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The Citi Double Cash Back card.  Some of the features

  • Earn 1% unlimited cash back on every purchase you make
  • Earn an additional 1% cash back as you pay for those purchases in full or over time (obviously you should pay your card off in full every time, so this is essentially 2% for each purchase.  If you’re not going to pay your card off in full, then I should probably also mention the low low APR of 12.99% – 22.99% 😀 )
  • No Caps and No Category Restrictions
  • You can redeem once you have $25 in rewards.
  • No Annual Fee

I have written before about cards that earn cash, such as the Barclay Arrival or the CapitalOne Venture card.  Citi already has the ThankYou series of cards that also earn cash, but only 1.25%, though those points have recently become more valuable as they are starting to offer airline transfer partners, like Chase, Amex and Starwood do.

citiMy rule of thumb for spending is:

  1. Spending to earn signup bonuses
  2. Category bonuses (at least 2-3x)
  3. Barclay or other cash-back style cards.

I think this is a strong contender for some of those cards, though personally, I plan to wait to see if there are any signup bonuses that come along.  The Barclay card gives 2.2%, but only on expenses that are travel-related.  So if you have a lot of expenses that are not travel related, this might be an option.

It’s always good to have options!

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