Credit card showdown: Citi Double Cash vs. Chase Freedom Unlimited

Mar 4, 2020

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Update: Some offers mentioned below are no longer available. View the current offers here – Chase Freedom Unlimited

You might think you have to pay an annual fee to get a good cash rewards credit card. But with offerings such as the Citi® Double Cash Card and the Chase Freedom Unlimited from two top credit card providers, you can earn cash back without paying for the privilege. The information for the Chase Freedom Unlimited has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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If your spending habits vary and you’re not sure if you’ll earn back your investment on a cash-back rewards card with an annual fee, the Citi Double Cash or Chase Freedom Unlimited could be your answer.

How do these cards compare to each other? Which one makes it easy to rack up the cash rewards fast? We’ll take a look at how two of the best credit cards stack up in a head-to-head comparison.

In This Post

Comparing Citi Double Cash and Chase Freedom Unlimited

Citi Double Cash Chase Freedom Unlimited
Sign-up bonus None $150
Minimum spending requirement None Bonus earned after you spend $500 on purchases in your first three months from account opening
Everyday spend earning rate 2% cash back on purchases: 1% when you use the card, 1% when you make the minimum payment on time 1.5% unlimited
Bonus categories None None
Value of points/miles* 2% – 3.4% 1.5% – 2.75%
Transfer partners None None
Annual fee None None
Foreign transaction fees 3% of each transaction (USD) 3% of each transaction (USD)
Other benefits Access to special events through Citi Entertainment, Citi® Identity Theft Solutions, Lost Wallet® Service, 24-hour fraud protection, zero liability purchase protection against unauthorized charges, Digital Wallet capabilities Unlimited access to your credit score and credit information through CreditJourney™, Zero Liability Protection for unauthorized purchases, purchase protection (maximum claim: $500, lifetime max: $50,000 per account), extended warranty protection, three months of DashPass

*Based on TPG valuations

Sign-up bonus

Chase Freedom Unlimited offers a welcome bonus of $150 after you make $500 in purchases within three months of account opening. However, be aware that the bonus is only available to new cardholders and only if you have not collected a welcome bonus for the same card within the past 24 months.

Related reading: Chase’s 5/24 rule: Everything you need to know

The Citi Double Cash has no welcome bonus at this time.

Winner: Chase Freedom Unlimited. With a relatively small spending requirement and a generous bonus, Chase obviously wins this category.

Earning

Citi Double Cash: 1% cash back when you make a purchase and 1% when you make your minimum payment on time, for a total of 2% on every purchase

(Photo by ANGELA WEISS/AFP/Getty Images)
(Photo by Angela Weiss/AFP/Getty Images)

Chase Freedom Unlimited: Straight 1.5% on every purchase, plus an extra 3.5% cash back on Lyft rides through March 2022.

Winner: Citi Double Cash. Earn 0.5% more with Citi than with Chase, as long as you pay your bill on time. However, if Chase continues to add earning partners like Lyft with additional cash-back rewards, Chase Freedom Unlimited could edge out Citi Double Cash for some cardholders.

Redeeming

Both cards have multiple options for redeeming your cash back, including a statement credit, direct deposit or points through the cards’ respective rewards portals.

Citi Double Cash: You can cash in your rewards for a statement credit or direct deposit. You can also use your rewards to pay your mortgage or a student loan held by Citi. You’ll need at least 2,500 points, worth $25, to cash out in this way.

As a Citi Double Cash cardholder, you also have the option of transferring your rewards into ThankYou points. When you forego the cash and convert your rewards to points, they become worth 3.4% of your original purchase, which represents a much better return. Spend those ThankYou Points through the Citi rewards portal to pay for travel, including air travel on partners like JetBlue, purchase gift cards or even make a charitable contribution.

(Photo by Zach Griff/The Points Guy)
(Photo by Zach Griff/The Points Guy)

Chase Freedom Unlimited: Chase makes it easy to redeem rewards through the Ultimate Rewards portal — but only paired with a Chase Ultimate Rewards card, including the Chase Sapphire Preferred Card or Chase Sapphire Reserve. Otherwise, you can choose from a statement credit, where each cent earned gives you a cent back toward your credit card balance, or cash back deposited directly into your bank account.

You can also choose a gift card at the same rate. Gift cards start as low as $5, which means you can start redeeming once you’ve accrued just 500 cents. You can also spend your points on Amazon, but they are only worth .08 cents each. It’s smarter to buy an Amazon gift card at the higher rate of 1 cent per point.

Where Chase Freedom offers the most flexibility and greatest reward is by transferring your cash back to a Chase Sapphire Preferred or Chase Sapphire Reserve card, where points are worth 1.25 cents or 1.5 cents, respectively. Use your points to book travel through the Chase portal to get the most value.

You can also make a charitable contribution to a wide variety of 501(c)(3) corporations with your Chase rewards.

Related Reading: The ultimate guide to Citi ThankYou Rewards

(Photo by Josh Gribben for The Points Guy)
(Photo by Josh Gribben for The Points Guy)

Winner: Citi Double Cash. The capability to convert your cash rewards to ThankYou points worth 3.4% puts Double Cash ahead of Chase Freedom Unlimited when it comes to rewards redemption. Plus, you don’t need a second Citi card to take advantage of increased rewards; Chase requires a Sapphire card to transfer your rewards and receive a higher value.

Other benefits

Neither of these cards offer top-tier benefits such as an up to $100 enrollment fee credit for TSA PreCheck or Global Entry, cell phone protection, or rental car insurance. But considering these cards also carry no annual fee, the benefits aren’t bad.

Citi Double Cash: Citi emphasizes security and credit management with a roster of benefits that include a Digital Wallet, or Virtual Account Numbers, to make online purchases more securely, 0% liability on unauthorized purchases, Fraud Early Warning notifications, and free access to your FICO credit score. Citi’s Lost Wallet service can replace your Citi card in as little as 24 hours and also provide you with emergency cash (subject to your card’s cash advance limit).

This Mastercard really shines, though, with the Citi Entertainment program. You can gain VIP access to concerts, sporting events, and other entertainment experiences.

Related reading: The best credit cards for entertainment spending

Chase Freedom Unlimited: Like the Citi card, Freedom Unlimited offers zero liability on unauthorized purchases and unlimited access to your credit score through Chase’s CreditJourney™ program. You also get purchase protection of up to $500 on every purchase, with a maximum of $50,000 in claims and extended warranty protection, giving you peace of mind when you use your Chase card to shop.

New this year, Chase has partnered with food delivery service DoorDash to give Freedom Unlimited cardmembers a complimentary DashPass for three months. The DashPass provides unlimited free delivery on all DoorDash orders $12 and up.  After three months, cardmembers can extend their pass for one year at 50% off the current price ($9.99 per month right now).

The Winner: Tie. The benefits for both cards seem largely comparable, with multiple fraud protection benefits and a host of convenient features. Chase wins out with the extended warranty and purchase protection. But if you’re looking for unique experiences, the Citi Entertainment program delivers.

Bottom line

Citi Double Cash provides better rewards (up to 3.4% back if you convert your cash to ThankYou points) and enticing benefits. As straightforward, flat-rate cash-back rewards card, the Citi card makes it easy to shop, pay your bill, and earn rewards. You don’t have to keep track of rotating spending categories like you do with some other cards, such as Chase Freedom or Discover it®. The Citi Entertainment benefit gives you early access to concerts and sporting events, plus exclusive VIP experiences.

Both cards stand as solid cash-back rewards cards for everyday use. But unless you’re pairing your Chase Freedom Unlimited with a Chase Sapphire card, you won’t get the most out of it. For most people, Citi Double Cash offers the most generous rewards you’ll find without an annual fee.

Related Reading

Featured photo by John Gribben for The Points Guy.

Chase Sapphire Preferred® Card

WELCOME OFFER: 80,000 Points

TPG'S BONUS VALUATION*: $1,600

CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on Purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.