Key takeaways
- Each the Wells Fargo Lively Money® Card and the Citi Double Money® Card provide 2 % money again on purchases.
- With the Citi Double Money Card, you’ll earn 1 % money again as you make purchases and one other 1 % money again as you pay for purchases.
- Each playing cards additionally include no annual charge, versatile redemption choices and intro APR affords.
Citi is an promoting associate.
The Wells Fargo Lively Money® Card and the Citi Double Money® Card are no-annual-fee playing cards that provide comparable rewards packages — cardholders can earn 2 % money rewards on purchases. With the Citi Double Money, you’ll earn 1 % again as you make purchases and a further 1 % again if you repay these purchases.
However whereas these two playing cards are comparable, they’re not equivalent. Whether or not the Wells Fargo Lively Money or Citi Double Money is best for you largely is dependent upon whether or not you wish to switch a stability and whether or not you wish to earn a welcome bonus, amongst different components.
Fundamental particulars
| Playing cards | Wells Fargo Lively 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 provide might be fulfilled as 20,000 ThankYou® Factors, which could be redeemed for $200 money again. |
| Rewards fee | Limitless 2% money rewards on purchases5 % money again on resorts, automotive leases and points of interest booked through the Citi Journey portal by Dec. 31, 2024 | As much as 2% money again on all purchases — 1% again if you make purchases and one other 1% again if 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%)Stability transfers made throughout the first 120 days embrace an intro stability switch charge of three% with a $5 minimal; after that, a charge 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 should be accomplished throughout the first 4 months to qualify.Stability transfers made throughout the first 4 months embrace an intro stability switch charge of three% with a $5 minimal; after that, a charge of 5% with a $5 minimal applies |
| Annual charge | $0 | $0 |
Wells Fargo Lively Money vs. Citi Double Money highlights
Welcome bonus winner
Rewards fee winner
Overseas transaction charge winner
Which card earns essentially the most?
As a result of the Citi Double Money and Wells Fargo Lively Money card each earn 2 % money rewards on purchases, your earnings potential is identical with each playing cards. Nevertheless, when you benefit from the Citi Double Money card’s restricted time provide of 5 % again on choose bookings through 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 gained’t earn the total 2 % from the Citi Double Money till your card is paid off, which means that the Lively Money would possibly earn you extra within the meantime.
Wells Fargo Lively Money vs. Citi Double Money spending instance
Say you cost $1,500 with both your Wells Fargo Lively Money or Citi Double Money throughout a given month. You’ll earn 2 % money rewards on purchases you make — groceries, takeout, payments, clothes or journey. For this month, then, you’d earn $30 in rewards. For those who proceed to spend $1,500 every month ($18,000 per yr), you’d earn $360 in money rewards yearly with both card.
For those who spend greater than $1,500 monthly, you’d earn extra. Say you cost a mean of $3,000 monthly ($36,000 per yr). You’d earn $60 in money rewards every month, or $720 per yr.
The one actual distinction is if you’ll get your money rewards. With the Citi Double Money, you’ll earn 1 % money again when making your purchases and the ultimate 1 % again if you pay for them. If it takes you longer to repay your purchases, it’ll take you longer to get your full 2 % money again.
Why do you have to get the Wells Fargo Lively Money?
The Wells Fargo Lively Money is a good flat-rate money again card with no annual charge and an easy-to-reach welcome bonus. For those who’re nonetheless unsure this card is best for you, listed below are some extra causes to contemplate signing up:
Further advantages
Along with its sturdy flat-rate money rewards program, the Wells Fargo Lively Money features a 0 % introductory APR provide on each purchases and qualifying stability transfers for 15 months after account opening. After the 0 % intro provide expires, a variable APR of 20.24 %, 25.24 % or 29.99 % applies.
Moreover, stability transfers should be made inside 120 days after account opening to qualify for the intro APR provide. In the course of the intro interval, you’ll pay a stability switch charge of three % of the quantity you’re transferring or a $5 minimal, then a charge of as much as 5 % with a $5 minimal.
This card’s stability switch intro APR provide is shorter than the one supplied by the Citi Double Money, however in contrast to the Citi Double Money, the Wells Fargo Lively Money contains an intro APR provide on purchases, too. So when you’re trying to pay for a big buy over time, the Wells Fargo Lively Money could be a greater choice because you gained’t pay curiosity throughout the intro interval.
The Wells Fargo Lively Money additionally contains different notable advantages, reminiscent of cellphone safety, which supplies a most of two claims per yr and as much as $600 per declare with a $25 deductible utilized. With such a safety you get safety in opposition to harm or theft — however it’s important to pay your month-to-month cellphone invoice together with your Lively Money to qualify for it.
You’ll additionally get zero legal responsibility safety, which protects you from unauthorized transactions in your account. Lively 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 out there 24 hours a day, seven days per week.
- Journey and emergency help providers, which can be found irrespective of the place you’re on the planet if you name Visa’s hotline
Redemption choices
You have got loads of methods to redeem the money again you earn. You’ll be able to 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 present playing cards or a wide range of journey purchases through Wells Fargo Rewards
Beneficial credit score rating
To qualify for the Wells Fargo Lively Money, goal for a great to glorious credit score rating, or a FICO rating of 670 to 850.
Why do you have to get the Citi Double Money?
The Citi Double Money is likely one of the hottest no-annual-fee money again bank cards in the marketplace at present, and its distinctive construction of getting 1 % money again if you make your buy and 1 % money again if you pay it off encourages cardholders to pay their stability in full every month. Some extra causes to get the Citi Double Money embrace:
Further advantages
The Citi Double Money is an effective card to contemplate when you’ve got excessive curiosity bank card debt to repay as a result of it has a 0 % intro APR provide on stability transfers for 18 months after account opening (adopted by a variable APR of 19.24 % to 29.24 %).
This can be a longer intro stability switch APR provide than the one supplied by the Wells Fargo Lively Money, which implies you’ll have extra time to repay your debt when you want it. Nonetheless, take into account that this intro APR provide is just for stability transfers, not purchases, and that stability transfers should be made within the first 4 months to qualify for the intro APR provide.
Moreover, when you full your stability switch throughout the first 4 months of opening your account, you’ll pay a 3 % stability switch charge with a minimal of $5. For stability transfers accomplished after the primary 4 months, you’ll pay a stability switch charge of 5 % with a minimal of $5.
Moreover this intro APR provide, the Citi Double Money comes with different advantages like:
Redemption choices
The Citi Double Money is a singular money again card as a result of cardholders really earn their money again within the type of Citi ThankYou factors. These factors could be pooled with these from different eligible Citi playing cards that earn ThankYou factors, which may then be redeemed for present playing cards, journey, or purchasing with factors on Amazon or by PayPal.
For those who’re extra serious about simply getting money again, that’s high quality, too — you may simply convert your factors to money again and obtain it as a press release credit score, examine or direct deposit.
Nevertheless, it needs to be famous that the Citi ThankYou factors earned with this card are primary ThankYou factors. Meaning 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.
Beneficial credit score rating
For the Citi Double Money, it’s best to have a great to glorious credit score rating, or a FICO rating of 670 or increased.
The underside line
So, which card comes out forward, the Wells Fargo Lively Money Card or the Citi Double Money Card? That is dependent upon components like how and if you wish to redeem rewards and whether or not you’re extra serious about an intro APR provide for purchases or stability transfers. However when you’re simply on the lookout for a beneficiant flat-rate money rewards card with easy redemption choices, both of these playing cards could be a strong alternative.
