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Freedom Limitless vs Citi Double Money


Signing up for bank cards by way of associate hyperlinks earns us a fee. Phrases apply to the provides listed on this web page. Right here’s our full promoting coverage.

Signing up for bank cards by way of associate hyperlinks earns us a fee. Phrases apply to the provides listed on this web page. Right here’s our full promoting coverage.

One of many easiest methods to study the fundamentals of rewards bank cards is to start out with no annual charge bank card. There are many wonderful playing cards with no annual charge that earn money again. These playing cards are very simple to know – and who doesn't like incomes just a little bit of additional money ?!

Two nice no-annual-fee money again playing cards are the Chase Freedom Limitless® and the Citi® Double Money Card. Whereas they're related in some ways, there are key variations between the playing cards for these trying to get the very best return in your spending.

Let's take a more in-depth have a look at the Citi Double Money vs. Chase Freedom Limitless.

Irrespective of which card you select, common spending can shortly quantity to tons of. (Picture by i viewfinder / Shutterstock)

Chase Freedom Limitless vs Citi Double Money

Listed below are the vital inquiries to ask when deciding between the Citi Double Money and Chase Freedom Limitless.

  • Will you spend kind of than $ 30,000 on the cardboard within the first yr?
  • Do you will have an annual charge Chase Final Rewards card?
  • Are you below the chase “5/24” rule?
  • Which card is healthier to maintain long run?

Listed below are the vital particulars for every card:

So what precisely does all of this imply to you? Right here’s what to think about earlier than you apply.

Are you below the chase “5/24” rule?

Chase has more durable software guidelines, making it tough to open most of their playing cards in case you have a lot of new bank card accounts. For those who're simply beginning out, this shouldn't be a difficulty.

Chase received't approve you for the Chase Freedom Limitless in case you’ve opened 5 or extra bank cards (from any financial institution) up to now 24 months (not counting Chase enterprise playing cards and most different enterprise playing cards). That is known as the Chase “5/24” rule. For those who've opened 5 or extra playing cards up to now 24 months, go for the Citi Double Money.

Will you spend kind of than $ 30,000 within the first yr?

Neither of the 2 playing cards has any class spending bonuses. The rewards you earn will keep the identical whatever the buy you're making. Beneath is what you’d earn with every card in case you spend $ 30,000 throughout the first yr:

Each playing cards will earn you an identical amount of money again within the first yr in case you make $ 30,000 in purchases.

The Chase Freedom Limitless welcome bonus makes it extra precious in case you count on to spend lower than $ 30,000 within the first 12 months of getting the cardboard. However the Citi Double Money is extra rewarding in case you’ll spend greater than $ 30,000 due to its greater incomes charge.

However this evaluation can change relying on how you employ your rewards. Right here’s an instance.

Do you will have an annual charge Chase Final Rewards or Citi ThankYou factors incomes card?

The Citi Double Money earns money again, which you’ll redeem for a verify, assertion credit score, or present playing cards. It's so simple as incomes 1% money again while you make a purchase order and an extra 1% money again while you make a fee of at the very least the minimal fee quantity. That stated, we at all times advocate paying your balances in full every month as a result of curiosity expenses on excellent balances can offset the worth of any rewards you earn.

For those who're paying an annual charge on a card that earns Citi ThankYou factors, you possibly can really switch your cashback to that card (1 cent = 1 Citi ThankYou level), after which switch these factors to precious Citi switch companions like Flying Blue ( the loyalty program of KLM and Air France) or Turkish Airways.

In the meantime, the Chase Freedom Limitless card earns 1.5% money again (1.5 Chase Final Rewards factors) per greenback spent. You possibly can redeem these factors for 1 cent every for money again, present playing cards, or journey by way of the Chase Journey Portal.

Much like the Citi Double Money, in case you have a Chase Final Rewards card with an annual charge, the rewards you earn with the Chase Freedom Limitless may be value far more. You possibly can transfer factors from the Freedom Limitless to a different eligible Chase card, just like the Chase Sapphire Most well-liked Card, Chase Ink Enterprise Most well-liked Credit score Card, or Chase Sapphire Reserve. You possibly can then redeem your factors with Chase switch companions like Southwest, Hyatt, or United Airways. Or, you possibly can e-book journey by way of the Chase Journey Portal, which additionally will increase your Chase factors worth over simply redeeming for cashback.

Which card must you get?

If you have already got, or are planning to use for, the Chase Sapphire Most well-liked, Chase Sapphire Reserve, or Chase Ink Enterprise Most well-liked playing cards, then I'd advocate the Chase Freedom Limitless card.

I’d counsel the Citi Double Money to these of you searching for an easy money again card with no plans on making use of for extra profitable journey rewards playing cards sooner or later. Or in case you're over the Chase “5/24” restrict and simply wish to add a no-annual-fee money again card to your pockets. You possibly can learn our

For those who're nonetheless not sure which card is finest to your state of affairs, please depart a remark under and I'll provide help to determine it out. I personally have Each, You possibly can learn our Citi Double Money evaluate right here. And browse our Chase Freedom Limitless evaluate right here.

Backside line

The Citi Double Money and Chase Freedom Limitless are two very fashionable no-annual charge money again playing cards.

Personally, I like Chase Freedom Limitless extra. You will get important worth for the rewards you earn in case you even have one other eligible Chase Final Rewards card, just like the Chase Sapphire Most well-liked. And I like Chase switch companions higher than Citi ThankYou factors. You may have the pliability to mix factors and improve their worth to avoid wasting massive on journey!

For those who desire incomes easy money again and don’t plan on ever opening a profitable journey rewards card, the Citi Double Money Card is the higher card long-term. With this card, you earn 1% money again while you make a purchase order and an extra 1% money again while you make a fee of at the very least the minimal fee quantity. That's an incredible incomes charge.

Subscribe to our publication for extra bank card comparisons sooner or later.

Editorial observe: We're the Million Mile Secrets and techniques crew. And we're happy with our content material, opinions and evaluation, and of our reader's feedback. These haven’t been reviewed, authorised or endorsed by any of the airways, motels, or bank card issuers which we regularly write about. And that's simply how we prefer it! 🙂

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