Citi Simplicity Card Review
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Written by
Jasmin Baron
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Edited by
Emily Gadd
The Citi Simplicity® Card from our partner Citi offers a lengthy introductory APR period for purchases and balance transfers, making it ideal for those looking to manage their debt or finance large purchases. Plus, it has no late fees, penalty rates, or annual fees, giving cardholders peace of mind and straightforward terms.
Purchase and Balance Transfer APR
0% Intro APR on purchases for 12 months and 0% Intro APR on balance transfers for 21 months, then 18.24% – 28.99% (Variable)
Recommended Credit Score
Excellent/Good
670 – 850*
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)
Intro Bonus
N/A
Annual Fee
$0
Rewards
N/A
CardCritics™ Opinion
If you’re looking to optimize your credit card interest payments, a balance transfer card is rated based on how much time the card issuer gives you to pay down your existing balance without any interest payments. With 21 full months of 0% interest on balance transfers it’s easy to see why the Citi Simplicity® Card is our top-rated balance transfer card.
Our Critical Analysis:
Citi Simplicity® Card
- Introductory interest rates
- No annual fee
- No late fees
PROS
- No welcome bonus
- No rewards earned on purchases
CONS
Generous Intro APR
The Simplicity Card is a no-frills card with an excellent introductory interest rate since it offers a 0% intro APR for 21 months on Balance Transfers and 0% intro APR for 12 months on Purchases. After the introductory period, a 18.24% – 28.99% (Variable) will apply.
These incredibly generous intro periods make the Simplicity Card one of the best available options especially for balance transfers.
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). This fee is likely significantly less than the interest you are currently paying on another card especially if you can complete your transfer within the first 4 months to get the lower transfer fee.
Additional Benefits
One of the key benefits of this card is that Citi will never charge you for late payments. Additionally, Citi promises not to charge you a penalty rate for having a payment returned.
While this card doesn’t have welcome bonuses or offer any rewards, it does have a few worthwhile perks when it comes to security features. Citi protects its customers against fraud with its Citi Fraud Early Warning systems and the CitiManager features. You’re able to access both through their website or mobile app. You’ll have multiple authentication methods, notifications and encryptions to keep you safe. Additionally, you’ll be able to set alerts for withdrawals, balance transfers, password changes and any payments.
What Makes the Simplicity Card Stand Out?
The Simplicity Card benefits those wanting to transfer a balance and pay down debt. It stands out because it has one of the longest introductory APR periods on the market with a reasonable balance transfer fee.
Is it the Right Card For You?
The Simplicity Card may be the right fit for you if any of the following apply:
- You are looking to consolidate and manage existing debt with a long introductory APR on balance transfers.
- You want to avoid late fees and penalty rates.
- You are planning large purchases and need an extended introductory APR period to pay them off.
Card Details From Citi®
- No Late Fees, No Penalty Rate, and No Annual Fee… Ever
- 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 18.24% – 28.99%, 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).
- Stay protected with Citi® Quick Lock
Frequently Asked Questions
These answers to some frequently asked questions will help you decide if the Citi Simplicity® Card is the right card for you.
What credit score is needed for the Citi Simplicity® Card?
The Simplicity Card requires good to excellent credit. Typically a FICO credit score of 670 or above meets this criteria. However, having a credit score of 670 or above does not guarantee approval since other factors are taken into consideration.
Does the Citi Simplicity® Card charge an annual fee?
No. The Simplicity Card does not charge an annual fee.
Does the Citi Simplicity® Card charge late fees?
No. The Simplicity Card does not charge late fees.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics™ references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.
