If you need a bit of time to repay any revolving credit card debt, the Citi Simplicity® Card is an excellent choice.
The Citi Simplicity is one of the top balance transfer credit cards on the market, offering well over a year and a half to pay off your balance interest-free. Plus, you won't be charged late fees or a penalty APR, should you miss a payment.
Below, we break down Citi Simplicity's rewards, benefits and fees to help you decide if it's the right card for you.
The Citi Simplicity® Card has amazing intro-APR offers and is particularly valuable for balance transfers due to its lower introductory fee.
- Long intro APR offers for balance transfers
- Low intro-fee for balance transfers
- No annual fee
- No rewards
- No welcome bonus
Welcome bonus
The Citi Simplicity Card doesn't earn rewards, nor does it offer a first-year welcome bonus.
Benefits and perks
The Citi Simplicity Card stands out as having one of the longest intro APR periods on the market. Get a 0% intro APR for 18 months on purchases and balance transfers from the date of account opening, followed by a 17.49% to 28.24% variable APR. New cardholders have four months to complete their balance transfer, which is longer than the typical 60 to 90 days.
As an added perk, cardholders receive an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Unlike a rewards credit card, the Citi Simplicity doesn't come with many perks, though cardholders do have access to Citi Entertainment, which provides early access and special perks at music, theater, dining and sports events. It also features security perks like Mastercard® ID Theft Protection, 24-hour fraud protection and Citi® Quick Lock, should you misplace your card.
How to earn and redeem Citi rewards
The Citi Simplicity Card doesn't earn rewards.
Rates and fees
As noted above, the Citi Simplicity doesn't charge late fees if you miss a credit card payment — though we always recommend you pay your balance on time and in full to keep your credit score in tip-top shape. You also won't be charged a penalty APR, which is a higher interest rate some issuers apply after you miss a payment.
The card doesn't charge an annual fee either, but a 3% fee is charged on all foreign transactions.
Currently, you'll pay an introductory balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Card comparison
Citi Simplicity Card vs. Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card is very similar to the Citi Simplicity, but it offers a slightly longer intro APR on balance transfers and a much longer intro APR on purchases. However, the Wells Fargo Reflect charges a higher balance transfer fee of 5% of each transfer with a $5 minimum, compared to the Citi Simplicity's lower intro balance transfer fee.
Neither card offers rewards or many other benefits, so if you need to finance a large purchase, the Reflect Card is likely to be a better option.
The Wells Fargo Reflect® Card is one of the absolute best cards you can apply for if you want to save on interest and pay down debit quickly thanks to its extra generous intro-APR offer on purchases and qualifying balance transfers.
- Incredible intro-APR for purchases and qualifying balance transfers
- No annual fee
- Cell phone insurance: up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible
- No rewards
- No welcome bonus
- High balance transfer fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.49%, 23.99%, or 28.24% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
- $0 annual fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
Balance transfer fee
5%, min: $5
Foreign transaction fee
3%
Citi Simplicity Card vs. Citi Double Cash® Card
The Citi Double Cash® Card is one of the top cash-back credit cards in its own right, but it also offers a solid intro APR on balance transfers.
You'll earn an unlimited 2% back on every purchase (1% when you buy and 1% when you pay off your purchase), and there's an intro balance transfer fee of 3% of each transfer ($5 minimum) for transfers you complete in the first four months. After that, the balance transfer fee increases to 5% of each transfer ($5 minimum).
While the Citi Double Cash doesn't offer an intro APR on purchases, getting at least 2% cash back on all spending is an amazing return for all sorts of purchases.
What makes the Citi Double Cash® Card special is that it sits near the top of its class in several categories. It is an excellent option if you want flat-rate rewards, a balance transfer intro-APR or no annual fee.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- Earns transferable rewards
- No annual fee
- It has a foreign transaction fee
- Intro APR only applies to balance transfer
- Points transfer ratios are reduced compared to premium cards
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
Citi Simplicity Card vs. Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card (see rates and fees) is another no-frills balance transfer card from Citi, but it offers a longer zero-interest period on balance transfers compared to the Simplicity.
Similar to the Citi Simplicity, there's an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, the fee is 5% of each transfer (minimum $5).
The card also offers a promo on purchases, though it's shorter than the Simplicity's offer.
The Citi® Diamond Preferred® Card has an exceptionally long intro-APR for balance transfers and is also notable for its reasonable 3% intro fee for balance transfers.
- One of the longest intro-APR offers for balance transfers
- Lower intro balance transfer fee
- No annual fee
- No rewards
- No welcome bonus
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- 0% Intro APR on balance transfers for 21 months and on purchases for 12 months from date of account opening. After that the variable APR will be 16.49% - 27.24%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- No Annual Fee - our low intro rates and all the benefits don't come with a yearly charge.
- Buy now and pay later. Split your payment for eligible purchases of $75 or more into a fixed payment with Citi® Flex Pay.
- Get free access to your FICO® Score online.
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Foreign transaction fee
3%
Have less-than-perfect credit? Consider these options
Is the Citi Simplicity Card right for you?
The Citi Simplicity offers exactly that: simplicity. Its lack of a penalty APR, no late fees and no annual fee allows you to focus solely on paying down your debt during the intro APR period.
If you're working your way out of credit card debt, it's hard to beat the Citi Simplicity. Its intro offer on balance transfers is top-tier while still offering a decent zero-interest period on purchases. However, this card doesn't offer rewards or any significant benefits outside of its intro APR offers; once you've paid off your debt, you'll want to start looking at more valuable rewards credit cards.
- Features a generous intro APR on both balance transfers and purchases
- Offers a lower intro balance transfer fee for the first few months
- Doesn't charge an annual fee, late fees or a penalty APR
- You won't earn rewards on your purchases or a welcome bonus
- Charges a 3% foreign transaction fee on purchases made outside of the U.S.
FAQ
What are the Citi Simplicity Card credit score requirements?
To get approved for the Citi Simplicity, you'll likely need a good-to-excellent credit score, or a FICO Score of 670 and up.
Is the Citi Simplicity Card a good card to have?
The Citi Simplicity Card is one of the best balance transfer credit cards available, and it also makes our list of the best 0% APR credit cards. A large part of its appeal is its lack of a penalty APR and late fees.
Do intro APR credit cards have rewards?
Typically, credit cards with the best 0% intro APR offers have fewer benefits or rewards. There are rewarding cards that also feature intro APRs. However, these APR offers tend to be shorter than the best deals, which provide no interest for 18 to 21 months.
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