Key takeaways
- Each the Wells Fargo Energetic Money® Card and the Citi Double Money® Card supply 2 p.c money again on purchases.
- With the Citi Double Money Card, you’ll earn 1 p.c money again as you make purchases and one other 1 p.c money again as you pay for purchases.
- Each playing cards additionally include no annual payment, versatile redemption choices and intro APR presents.
Citi is an promoting associate.
The Wells Fargo Energetic Money® Card and the Citi Double Money® Card are no-annual-fee playing cards that provide related rewards applications — cardholders can earn 2 p.c money rewards on purchases. With the Citi Double Money, you’ll earn 1 p.c again as you make purchases and a further 1 p.c again while you repay these purchases.
However whereas these two playing cards are related, they’re not equivalent. Whether or not the Wells Fargo Energetic Money or Citi Double Money is best for you largely is determined by whether or not you need to switch a stability and whether or not you need to earn a welcome bonus, amongst different components.
Predominant particulars
| Playing cards | Wells Fargo Energetic Money Card | Citi Double Money Card |
|---|---|---|
| Welcome bonus | $200 bonus after spending $500 within the first 3 months of account opening | $200 bonus after spending $1,500 on purchases within the first 6 months of account opening. This bonus supply will probably be fulfilled as 20,000 ThankYou® Factors, which might be redeemed for $200 money again. |
| Rewards charge | Limitless 2% money rewards on purchases5 p.c money again on motels, automotive leases and points of interest booked by way of the Citi Journey portal by way of Dec. 31, 2024 | As much as 2% money again on all purchases — 1% again while you make purchases and one other 1% again while you pay for purchases |
| Intro APR | 0% intro APR on purchases and qualifying stability transfers for 15 months from account opening (adopted by a variable APR of 20.24%, 25.24% or 29.99%)Steadiness transfers made throughout the first 120 days embrace an intro stability switch payment of three% with a $5 minimal; after that, a payment of as much as 5% with a $5 minimal applies | 0% intro APR on stability transfers for 18 months after account opening (adopted by a variable APR of 19.24% to 29.24%); Transfers have to be accomplished throughout the first 4 months to qualify.Steadiness transfers made throughout the first 4 months embrace an intro stability switch payment of three% with a $5 minimal; after that, a payment of 5% with a $5 minimal applies |
| Annual payment | $0 | $0 |
Wells Fargo Energetic Money vs. Citi Double Money highlights
Welcome bonus winner
Rewards charge winner
International transaction payment winner
Which card earns probably the most?
As a result of the Citi Double Money and Wells Fargo Energetic Money card each earn 2 p.c money rewards on purchases, your earnings potential is similar with each playing cards. Nevertheless, when you benefit from the Citi Double Money card’s restricted time supply of 5 p.c again on choose bookings by way of their journey portal, you can end up incomes only a bit extra with that card.
Equally, when you carry a stability month to month, you received’t earn the total 2 p.c from the Citi Double Money till your card is paid off, which means that the Energetic Money would possibly earn you extra within the meantime.
Wells Fargo Energetic Money vs. Citi Double Money spending instance
Say you cost $1,500 with both your Wells Fargo Energetic Money or Citi Double Money throughout a given month. You’ll earn 2 p.c money rewards on purchases you make — groceries, takeout, payments, clothes or journey. For this month, then, you’d earn $30 in rewards. Should you proceed to spend $1,500 every month ($18,000 per 12 months), you’d earn $360 in money rewards yearly with both card.
Should you spend greater than $1,500 per 30 days, you’d earn extra. Say you cost a median of $3,000 per 30 days ($36,000 per 12 months). You’d earn $60 in money rewards every month, or $720 per 12 months.
The one actual distinction is while you’ll get your money rewards. With the Citi Double Money, you’ll earn 1 p.c money again when making your purchases and the ultimate 1 p.c again while you pay for them. If it takes you longer to repay your purchases, it’ll take you longer to get your full 2 p.c money again.
Why must you get the Wells Fargo Energetic Money?
The Wells Fargo Energetic Money is a good flat-rate money again card with no annual payment and an easy-to-reach welcome bonus. Should you’re nonetheless undecided this card is best for you, listed below are some extra causes to think about signing up:
Extra advantages
Along with its sturdy flat-rate money rewards program, the Wells Fargo Energetic Money features a 0 p.c introductory APR supply on each purchases and qualifying stability transfers for 15 months after account opening. After the 0 p.c intro supply expires, a variable APR of 20.24 p.c, 25.24 p.c or 29.99 p.c applies.
Moreover, stability transfers have to be made inside 120 days after account opening to qualify for the intro APR supply. Through the intro interval, you’ll pay a stability switch payment of three p.c of the quantity you’re transferring or a $5 minimal, then a payment of as much as 5 p.c with a $5 minimal.
This card’s stability switch intro APR supply is shorter than the one supplied by the Citi Double Money, however in contrast to the Citi Double Money, the Wells Fargo Energetic Money contains an intro APR supply on purchases, too. So when you’re trying to pay for a big buy over time, the Wells Fargo Energetic Money can be a greater choice because you received’t pay curiosity in the course of the intro interval.
The Wells Fargo Energetic Money additionally contains different notable advantages, reminiscent of cellphone safety, which offers a most of two claims per 12 months and as much as $600 per declare with a $25 deductible utilized. With this kind of safety you get safety towards injury or theft — however it’s important to pay your month-to-month cellphone invoice together with your Energetic Money to qualify for it.
You’ll additionally get zero legal responsibility safety, which protects you from unauthorized transactions in your account. Energetic Money cardholders additionally get Visa Signature advantages, together with:
- The Zero Legal responsibility coverage, which protects cardholders from fraud
- Roadside dispatch hotline entry, which is on the market 24 hours a day, seven days per week.
- Journey and emergency help companies, which can be found irrespective of the place you might be on the earth while you name Visa’s hotline
Redemption choices
You’ve loads of methods to redeem the money again you earn. You may redeem your money again:
- As a press release credit score or a deposit to an eligible Wells Fargo account
- in $20 increments at a Wells Fargo ATM
- for reward playing cards or a wide range of journey purchases by way of Wells Fargo Rewards
Advisable credit score rating
To qualify for the Wells Fargo Energetic Money, purpose for a very good to wonderful credit score rating, or a FICO rating of 670 to 850.
Why must you get the Citi Double Money?
The Citi Double Money is without doubt one of the hottest no-annual-fee money again bank cards in the marketplace in the present day, and its distinctive construction of getting 1 p.c money again while you make your buy and 1 p.c money again while you pay it off encourages cardholders to pay their stability in full every month. Some extra causes to get the Citi Double Money embrace:
Extra advantages
The Citi Double Money is an effective card to think about when you’ve got excessive curiosity bank card debt to repay as a result of it has a 0 p.c intro APR supply on stability transfers for 18 months after account opening (adopted by a variable APR of 19.24 p.c to 29.24 p.c).
It is a longer intro stability switch APR supply than the one supplied by the Wells Fargo Energetic Money, which suggests you’ll have extra time to repay your debt when you want it. Nonetheless, remember the fact that this intro APR supply is just for stability transfers, not purchases, and that stability transfers have to be made within the first 4 months to qualify for the intro APR supply.
Moreover, when you full your stability switch in the course of the first 4 months of opening your account, you’ll pay a 3 p.c stability switch payment with a minimal of $5. For stability transfers accomplished after the primary 4 months, you’ll pay a stability switch payment of 5 p.c with a minimal of $5.
Moreover this intro APR supply, the Citi Double Money comes with different advantages like:
Redemption choices
The Citi Double Money is a novel money again card as a result of cardholders really earn their money again within the type of Citi ThankYou factors. These factors might be pooled with these from different eligible Citi playing cards that earn ThankYou factors, which might then be redeemed for reward playing cards, journey, or procuring with factors on Amazon or by way of PayPal.
Should you’re extra excited by simply getting money again, that’s nice, too — you’ll be able to simply convert your factors to money again and obtain it as a press release credit score, verify or direct deposit.
Nevertheless, it ought to be famous that the Citi ThankYou factors earned with this card are primary ThankYou factors. Which means they’ll solely be transferred to a Citi journey associate when you pair your Citi Double Money with a premium Citi card just like the Citi Premier® Card.
Advisable credit score rating
For the Citi Double Money, it is best to have a very good to wonderful credit score rating, or a FICO rating of 670 or larger.
The underside line
So, which card comes out forward, the Wells Fargo Energetic Money Card or the Citi Double Money Card? That is determined by components like how and while you need to redeem rewards and whether or not you’re extra excited by an intro APR supply for purchases or stability transfers. However when you’re simply in search of a beneficiant flat-rate money rewards card with easy redemption choices, both of these playing cards can be a strong alternative.
