Is the Citi Simplicity Worth It?
-
Written by
Harlan Vaughn
-
Edited by
Emily Gadd
-
Reviewed by
Jasmin Baron
The Citi Simplicity® Card, an advertising partner, is about as bare bones a card as you can possibly get, with two outstanding features: an introductory APR rate on both balance transfers and purchases. The balance transfer period is among the longest on the market, while the balance transfer fee is as low as you’ll find for a similar offer.
That’s where the card’s benefits come to an end. Other than standard features, the only other things worth mentioning are a notable lack of annual, late and penalty fees. However, if you use the intro APR offers to the fullest, you stand to save a heap of cash on interest — and that’s a potentially valuable reward unto itself.
400+ Credit Cards
Analyzed independently across 50+ data points in 30+ product categories
Reviewed
By a team of credit card experts with an average of 9+ years of experience
Trusted by
More than one million monthly readers seeking unbiased credit card guidance
CardCritics™ editorial team is dedicated to providing unbiased credit card reviews, advice and comprehensive comparisons. Our team of credit card experts uses rigorous data-driven methodologies to evaluate every card feature, fee structure and rewards program. In most instances, our experts are longtime members or holders of the very programs and cards they review, so they have firsthand experience maximizing them. We maintain complete editorial independence — our ratings and recommendations are never influenced by advertiser relationships or affiliate partnerships. You can learn more about our editorial standards, transparent review process and how we make money to understand how we help you make informed financial decisions.
Quick Verdict
The Citi Simplicity Card is best for those looking to consolidate balances from other high-interest credit cards and/or make a big purchase with extra time to pay it off. You’ll ideally have good to excellent credit when you apply for the best chance of approval — plus, a lower credit score could result in a low credit limit, negating the card’s main benefits.
The card has a 0% Intro APR on purchases for 12 months and 0% Intro APR on balance transfers for 21 months, then 17.99% - 28.74% (Variable) APR. In particular, the balance transfer offer is one of the longest of any credit card.
Other than the introductory APR offers, there’s not much else to note: no rewards, no built-in perks and no traditional welcome offer. There’s also a 3% foreign transaction fee and no purchase or travel protections, so it’s not an ideal card for travel or purchasing items that might need repair or replacement down the line.
Citi Simplicity Card: At a Glance
- Annual fee: $0
- Welcome offer: N/A
- Introductory APR: 0% Intro APR on purchases for 12 months and 0% Intro APR on balance transfers for 21 months, then 17.99% - 28.74% (Variable) APR
- Rewards structure: N/A
- Statement credits and perks: No late fee or penalty fee for making a late payment
- Estimated value: Wholly depends on the amount of your credit limit, your other cards’ interest rates and how much you transfer onto the card, but it stands to be in the hundreds if you have high-interest debt
Who Should Consider Citi Simplicity?
Because the two main benefits of the Citi Simplicity Card are an introductory APR on purchases and balance transfers, that means two types of cardholders will get the most benefit.
You Want To Consolidate Other Credit Card Debt
Having 21 months to repay your credit card balances is one of the longest repayment periods around and can save you a ton of money on interest. That’s exactly what I did when I opened the Citi Simplicity Card to take advantage of the 0% intro APR for 21 months on Balance Transfers (followed by a 17.99% - 28.74% (Variable) APR).
My balance on other cards was around $7,000 with an average 27.99% interest rate. Even though the Simplicity Card didn’t have a welcome offer or earn any rewards, I was in a spot where I wanted to get my finances under control — and that was worth more to me than a welcome bonus or rewards on purchases.
In fact, when I calculated my credit card interest, I saw I was paying $162.84 per month. Over 21 months, that’s over $3,400 — a staggering amount. The Simplicity Card gave me a long enough runway to pay down the balance completely. On $7,000, there was a 3% balance transfer fee of $210, but it’s much lower than the interest I was paying. And on a $7,000 balance, even with the $210 fee included, it breaks down to about $343 per month for 21 months, which was perfect for my budget. Plus, paying down that balance put me in a much better financial position with a stronger credit score.
You Want To Make Purchases and Repay Them Later
While not quite as impressive as the balance transfer offer, the Citi Simplicity Card has a 0% intro APR for 12 months on Purchases (then a 17.99% - 28.74% (Variable) APR). Still, that gives you a year to repay either a big expense or a lot of varied purchases. That could come in handy for a variety of reasons, like a long-distance move, home remodel, paying bills or many other scenarios.
While many of the best low APR credit cards have an intro APR on purchases, they also earn rewards and have a welcome offer — which the Citi Simplicity Card doesn’t.
Who Should Skip Citi Simplicity?
There are a couple of obvious answers we’ve already addressed, like if you want to earn rewards or earn a welcome offer. If either of those apply, the Citi Simplicity Card is an easy skip. But here are two more situations where you might want to pass on this card.
You’re About To Apply for a Big Loan
If you know a big purchase requiring a loan is coming up, like if you’re house shopping or thinking about buying a new vehicle, you might want to skip opening this card — or any card for that matter. That’s because seeking a lot of new credit in a short time period is often a red flag to lenders.
Not to mention that you’ll likely instantly charge up your credit limit with balance transfers, which will send your credit utilization ratio sky-high until you pay your balance down. That’ll likely send your credit score down, but it usually recovers as your balances get paid. Still, you’ll want to pump the brakes on new card applications if you’re considering a big loan in the near future.
You Have Poor Credit
Your odds of getting approved for the Citi Simplicity Card are best if you have good to excellent credit (a FICO score of at least 670). If your score is lower than that, you shouldn’t apply — especially since the application will add a hard credit inquiry to your report.
Because your credit limit is partially based on your credit score, if you know yours is in the lower range, you may not get a very high limit. That, in turn, will limit the usefulness of this card as well, especially if you plan to use it for a balance transfer.
How To Maximize Citi Simplicity’s Value
The best use of the Citi Simplicity Card is to use it for a balance transfer. Even with the 3% balance transfer fee for transfers completed within the first four months factored in, you’ll likely still come out ahead than if you had to pay interest charges.
For the best value, look at all the interest rates on your other credit cards and transfer the balances from those with the highest interest rates. Even if you can’t fit the entire balance onto the Simplicity Card because of the credit limit, you stand to save hundreds, if not thousands, on interest within the introductory APR period.
You can find your cards’ interest rates on your monthly statements. Then, go down the list and transfer as much high-interest debt as you can to the Citi Simplicity Card.
Final Verdict on the Citi Simplicity Card
I chose the Citi Simplicity Card because:
- I like the other Citi credit cards I have
- The introductory APR is one of the best available
- I had good credit, and saving money on interest was better than any welcome offer
- I was ready to take control of my finances
The Simplicity Card certainly lives up to its name — it’s a simple card — but sometimes all you need is one powerful tool to get the job done, and that’s exactly what this card offers.
You won’t get bells and whistles, but if you’re ready to pay down some high-interest debt from other credit cards, this one is a fine place to start.
Frequently Asked Questions About the Citi Simplicity
How hard is it to get Citi Simplicity?
For the Citi Simplicity Card, a good to excellent credit score (670 to 850 on the FICO scale) will give you the best chance of approval. Citi will consider other factors, including your overall financial profile, when it evaluates your application.
What are the benefits of Citibank Simplicity?
The Citi Simplicity Card has two main benefits: a 0% Intro APR on purchases for 12 months and 0% Intro APR on balance transfers for 21 months, then 17.99% - 28.74% (Variable) APR.
Does Citi Simplicity give a high credit limit?
Your credit limit on the Citi Simplicity Card will depend on several factors, including your credit score and limits on other Citi cards you have. The minimum credit limit is $500, but it could be much higher than that.
Why is my Citi Simplicity credit limit so low?
Citi likes to see good credit and a decent amount of income on card applications. If you have a modest income or if you already have Citi cards with high limits, you might be offered a lower limit on the Citi Simplicity Card. With responsible use, you may increase your limit, but it might not happen quickly enough to take advantage of the card’s intro APR.
