Citi Simplicity® Card
- Best for: Paying off a balance transfer or a big purchase over 18 months; borrowers who want no late fee or penalty APR
- What Sets It Apart: $0 late fee and no penalty APR; 18 months at 0% on purchases as well as transfers
- Cost: $0 annual fee; 17.74% to 28.49% variable APR after the intro; 3% transfer fee ($5 minimum) in the first 4 months, then 5% ($5 minimum); 3% foreign purchase fee
- Features: 0% for 18 months from account opening on purchases and on transfers made in the first 4 months; your pick of available due dates
- Pros: Long 0% on purchases and transfers; no late fee or penalty APR; no annual fee
- Cons: No rewards; no transfers from other Citi accounts; the 0% period starts at account opening
Get the Citi Simplicity® Card if you’re moving a balance from another bank’s card or spreading out a big purchase and want 18 months at 0% interest on both. Paying late costs no fee and won’t raise your rate. If you’ll need more than 18 months to clear a transfer, choose a card with a longer 0% period.
The Simplicity earns no rewards, so it’s a card for paying down debt rather than for everyday spending. Citi generally recommends good to excellent credit to apply.
Key Features
- 0% interest for 18 months from account opening on purchases and on balances transferred in the first 4 months
- A variable interest rate (APR) of 17.74% to 28.49% after that, based on your credit
- A 3% transfer fee in the first 4 months, so $150 on $5,000, then 5%, with a $5 minimum
- $0 annual fee and $0 late fee, with no penalty APR, the higher rate a card can charge after a late payment
Pros
- 18 months at 0% on new purchases, not only on transfers
- A missed payment brings no fee and no rate increase, though Citi may still report it to the credit bureaus
- Lets you pick from available due dates early, midway through, or late in the month
Cons
- No rewards, while the Citi Double Cash earns 2% back and has the same 18-month transfer offer, though it charges late fees and has no 0% on purchases
- The 18 months count from account opening, so a transfer made in month 4 gets about 14 months at 0%
- Balances from other Citi accounts can’t be transferred
- Each transfer plus its fee must fit within your available credit, and some limits can be as low as $500
Get it if you’ll pay off a transfer or a big purchase within 18 months and want a card with no late fee or penalty APR. For a transfer that needs more than 18 months, pick the Citi Diamond Preferred, which gives 21 months at the same 3% fee but charges up to $41 for a late payment and can then end its 0% rate.
Learn more about the Citi Simplicity® Card or see how it compares to the best balance transfer credit cards.
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