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Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
Eric McWhinnie has been writing and editing digital content since 2010. He specializes in personal finance and investing. He also holds a bachelor’s degree in Finance.
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The Citi Double Cash® Card is a great option for saving money on debt. It has a 0%, 18 months intro APR on balance transfers completed within four months of account opening, giving you lots of time to pay down balances interest free. The go-to variable rate applies after that intro period ends. Before you make any transfers, you should know about the Citi Double Cash balance transfer fee.
How much is the Citi Double Cash balance transfer fee?
The Citi Double Cash® Card charges a fee of 3% ($5 min.) on transfers in the first four months, 5% ($5 min.) thereafter.
Let's say that you have a $5,000 credit card balance you want to transfer over. If you transfer it in the first four months, you'll pay a 3% fee of $150. If you transfer it after the first four months, you'll pay a 5% balance transfer fee of $250. Balance transfers made after the first four months won't qualify for the intro APR, either.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for cash back on rotating categories
Discover will match all the cash back you've earned at the end of your first year.
N/A
1% - 5% Cashback
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for cash back
Up to $300 cash back
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.
1.5% - 5% cash back
Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases
Intro:
0% Intro APR on Purchases and Balance Transfers for 15 months
Purchases: 0% Intro APR on Purchases, 15 months
Balance Transfers: 0% Intro APR on Balance Transfers, 15 months
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for earning travel rewards
75,000 Miles
75,000 Miles once you spend $4,000 on purchases within 3 months from account opening
2X-5X miles
Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options.
Balance transfers must be completed within the first four months to qualify for the 0% intro APR.
The transfer amount and the balance transfer fee can't exceed your Citi card's available credit. For example, to transfer a $5,000 balance during the first four months, you would need at least $5,150 in available credit to cover the transfer and the 3% balance transfer fee.
You can't transfer balances from one Citi account to another. For example, if you have two Citi credit cards, you couldn't transfer the balance from one to the other.
Choose the balance transfer offer you want to use.
Provide the transfer details and submit the request.
This initiates the balance transfer request. After that, it normally takes Citi between two and 21 days to complete your transfer. Keep in mind that until the balance transfer is complete, you need to continue making any required payments on the original account. Once the balances are transferred, try to pay off everything within your Citi card's 0% intro APR period to maximize your savings.
The Citi Double Cash® Card has an introductory balance transfer fee of 3% (with a $5 minimum) for balance transfers you make within four months of account opening. On balance transfers made after the first four months, it charges a 5% fee (with the same $5 minimum).
Yes, the Citi Double Cash® Card is a good card for balance transfers. It offers 18 months of 0% intro APR on balance transfers made within four months of opening the account. That's one of the longest balance transfer offers. The go-to variable rate applies after the intro period ends.
Balance transfers with Citi normally take between two and 21 days. You can check the status of your balance transfer online in your Citi account.
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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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Eric McWhinnie
