I am interested in these two cards and would like to know the differences. Also, which one offers more rewards?
Both the Citi Double Cash card and the Discover It Cash Back card are great card for consolidating the credit card debt that you already have, because they both have a 0% introductory APR for balance transfers. The Discover card only allows for 0% APR for the first 14 months, as opposed to 18 months with the Citi card, but the Discover card also offers 0% APR on purchases for that time span, which Citi does not. Plus, once those periods end, the Discover card has a variable APR for both purchases and balance transfers between 11.99% and 22.99%, while the Citi card has a rate between 13.99% and 23.99%. So, the “better” card in terms of rates and interest would certainly be the Discover card.
In terms of rewards, the Citi Double Cash card is very straightforward - your account will receive 1% cash back when you buy a product, and 1% cash back when you pay the balance. There are absolutely no limits or restrictions on this, so really, it can fit any lifestyle. The Discover card is much more complicated in giving out rewards, as each quarter, it will have designated categories, like grocery stores, Uber or Amazon, where you can receive 5% cash back on all purchases up to a certain threshold, and then 1% cash back on all other purchases. It’s important to mention that these thresholds tend to be pretty low, typically around $1,500, so if you spend a lot at these locations, you ultimately are not getting that much cash back. Thus, even though the Discover card is better when it comes to rates, the Citi card delivers more value overall with rewards.
The only similarity between these two cards is that they earn cash back and have a $0 annual fee. The Discover it Cash Back earns a massive cash back rate on rotating categories, each quarter and lets you double your earned cash back at the end of your first year. The Citi Double Cash Card comes with a flat cashback rate on all purchases and has a longer balance transfer intro APR period.
Rewards offered by Citi Double Cash: 1% cash back upon purchase, another 1% when you pay your bill, whereas Discover It Cash Back offer 5% cash back on rotating categories on up to $1,500 and 1% on all other purchases.