If are looking for a credit card with a long interest-free introductory period, then the Citi Simplicity® Card should be high on your list.
With a 0% introductory APR on purchases and balance transfers for 21 months after opening your account, no late fees, and no annual fee, this is a great card for anyone looking for a balance transfer option that will help you pay down your existing debt.
- 0% introductory APR for 21 months from account opening for purchases and balance transfers
- No annual fee
- No late fees or penalty rates
At a glance
Citi Simplicity® Card - No Late Fees Ever
on Citibank's website
- The ONLY card with No Late Fees, No Penalty Rate, and No Annual Fee…EVER
- 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 14.99% - 24.99% based on your creditworthiness
- There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
- The same great rate for all balances, after the introductory period
- Save time when you call with fast, personal help, 24 hours a day – just say “representative”
- Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month
Balance Transfer Fee
Balance Transfer Intro APR
Intro Balance Transfer Period
Citi Simplicity® Card deep dive
For individuals who want a long interest-free introductory period, which can be used to pay down expensive balance transfers from other cards, the Citi Simplicity® Card is an enticing offer.
That being said, the Citi Simplicity® Card is, well, simple: it does not have a rewards program or cash back option, which may limit its appeal to card users accustomed to those perks.
Get it: If you are looking for a credit card with a long interest-free introductory period, few cards will top the Citi Simplicity® Card.
The 0% introductory APR for 21 months from account opening is especially valuable for individuals looking to transfer debt from other, higher-rate cards. You can use that time to pay down your debt to make it more manageable or even to pay it off in full.
On the other hand, individuals who need to make a large purchase can use the interest-free period to finance said purchase (for example, furniture or expensive electronics).
In addition to the long interest-free introductory period, the Citi Simplicity® Card has no annual fee, no late fees, and no introductory rates, making it ideal for individuals who tend to confuse due dates.
Though you will not be charged late fees or penalty rates for missing payments, it’s important to remember that you should always aim to make your payments on time as credit card issuers may report your late payments to the credit bureaus in the event that you do not make your payment within 30 days of the due date.
Some of the benefits of the Citi Simplicity® Card include:
- No annual fee
- 21-month interest free introductory period: This is much longer than most introductory offers, making this an ideal card to use for financing large purchases or for paying down high balances from other cards
- No late fees or penalty rates: Though you should always aim to make your payments on time, if you do miss your payment due date you will not be charged a late fee or penalty rate
- No Liability: You won’t be held accountable for unauthorized purchases made with your card
- Flexible payment due date: You can choose whichever available monthly due date works best for your schedule, whether in the beginning, middle, or end of the month
- Citi Price Rewind: If you make a purchase with your card, search through Citi Price Rewind to make sure that the item was not available at an online merchant for a lower price. If the item is found at a lower price with 60 days of purchase, you may receive the difference. The card also extends the manufacturer’s warranty when used on eligible purchases
- Citi Identity Theft Solutions: If your identity is stolen, Citi will help identify compromised accounts, file police reports, and take steps to get your credit back on track
- Worldwide Auto Rental Collision Damage Waiver: Be covered against theft or damage to your rental car when you pay for your rental with your Citi card and decline the rental company’s insurance
- Travel and Emergency Assistance: If trouble arises while you’re on a trip, emergency services are available 24/7 including emergency travel arrangements, travel issues, medical and legal referrals, and more
Skip it: If you do not want to pay a balance transfer fee, or want a credit card that earns rewards or cash back.
Though the Citi Simplicity® Card has a phenomenal interest-free introductory period on purchases and balance transfers, you will need to pay a balance transfer fee of $5 or 3%, whichever is greater, on every transfer you make. If you are making a substantial balance transfer in the hopes of paying down your debt, this fee can reduce the benefits of transferring your balance.
It is also worth noting that balance transfers must be completed within 4 months of account opening or you will forfeit the 0% introductory APR.
Once the introductory period is over, you will pay a variable APR of 14.99% to 24.99%, based on your creditworthiness. Those with less than excellent credit would do well to look for a card with a lower maximum APR.
The Citi Simplicity® Card also isn’t the best card to use to withdraw money, since you’ll be charged a cash advance fee of 5% of each transaction or $10, whichever is greater. You will pay a variable APR of 14.99% to 24.99% on cash advances, and when you use this card to get a cash advance, you start paying interest on that money right away. That’s a hefty price to pay when you’re in a tight spot and need cash right away.
Globetrotters won’t like the foreign transaction fees associated with card use outside the US — foreign transactions incur a fee of 3% on each transaction (in US dollars), which can add up quickly.
Additionally, the Citi Simplicity® Card does not earn bonus rewards or cash back, which can be a drawback for individuals used to receiving bonuses from their card use.
Consider these drawbacks of the Citi Simplicity® Card:
- No rewards
- Balance transfer fee: There is no introductory period during which the balance transfer fee is waived. You will be charged $5 or 3% of the amount transferred, whichever is greater. And balance transfers must be completed within 4 months of account opening to qualify for the 0% introductory APR
- Not a travel-friendly card: Travelers who frequently find themselves out of the United States may want to find a different card. Foreign transactions incur a 3% fee
- Requires good to excellent credit to qualify
- Medium to high interest rate: With a variable APR of 14.99% to 24.99% on purchases and balance transfers after the introductory 21 months, this may not be a card that you want to carry a balance on
- Not great for withdrawing money: The Citi Simplicity® Card isn’t a great card to use for withdrawing money, since you’ll be charged a cash advance fee of $10 or 5% of the transaction, whichever is greater. It also has a variable APR of 14.99% to 24.99% for cash advances, and when you use this card to get a cash advance, you start paying interest on that money right away
If you are looking for a credit card with an above-average interest-free introductory period or think that you may occasionally be late on a few payments, then the Citi Simplicity® Card should be right up your alley. But if you do not want to pay a balance transfer fee, want a credit card that earns rewards or cash back, are a frequent traveler or regularly make use of cash advances, you might want to check out some other cards.