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MoneyGeek’s Take
The Citi Simplicity® card stands out for its extended 0% introductory APR on balance transfers and no-fee policy. But if you have a large upcoming expense and want to get cash back and an extended 0% APR on purchases, other cards may be more suitable.
This card is good for you if you:
- Need a long balance transfer payment period to pay off your balances from non-Citi cards
- Want a card that doesn't charge fees
This card is an even better option if your only requirement from a new card is having a long introductory period to pay down existing balances.
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Citi Simplicity® Card Overview
The Citi Simplicity® card is a great choice if you’re looking to manage your debt with a balance transfer. It allows you to pay your existing credit card balance interest-free for 21 months, the longest time frame from the cards we’ve surveyed. Additionally, it comes with no annual, late or penalty fees.
Although it stands out for balance transfers, the Citi Simplicity® is not the best if you have a large, upcoming purchase. Its 12-month 0% introductory APR on purchases is adequate if you need to pay minimums for a while without worrying about interest. However, that's shorter than the usual 15-month period for 0% introductory purchase APR from similar cards.
Additionally, the Citi Simplicity® lacks cash back rewards and a welcome bonus offer that would allow you to make the most of a large upcoming purchase.
More: MoneyGeek's Best Balance Transfer Cards
Citi Simplicity® Card Card Details
Details | Description |
|---|---|
Card Type | Balance Transfer |
Annual Fee | $0 |
Introductory Offer | None |
Introductory APRs | 0% intro APR on purchases for the first 12 months following the opening of your account; 0% intro APR for 21 months on balance transfers made from the date of the initial transfer |
Rewards | None |
Regular APRs | 19.24%–29.99% (Variable) |
Penalty APR | None |
Balance Transfer Fees | $5 or 3% of the transfer amount, whichever is higher, for transfers finalized within four months of opening the account. Afterward, the fee for each transfer will be 5%, with a minimum of $5. |
Late Fees | None |
Foreign Transaction Fee | None |
Other Perks | $0 liability on unauthorized charges, contactless pay, automatic account alerts, choose your payment due date, access to digital wallets |
Why You Might Want This Card
The Citi Simplicity® card offers notable benefits if you’re planning to transfer balances or finance purchases. Here's why you might consider this card:
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Why You Might Want a Different Card
The Citi Simplicity® Card shines in debt management but lacks additional features.
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How to Get the Most From Your Citi Simplicity® Card
The Citi Simplicity® Card can help you get to your financial happy place by adopting these tactics:
Transfer balances promptly
Make your balance transfers within four months to take advantage of the lower balance transfer fee and the full introductory balance transfer period.
Develop a payoff strategy
Make sure you're paying down your balances. You'll need to stick to a budget. Otherwise, you'll return to those headache-inducing moments when you open your credit card statement with lots of interest charges.
Spend smartly on new purchases
The 0% introductory APR for 12 months is ideal for necessary expenses, but don't use it as a reason to spend money and potentially get into debt.
How Citi Simplicity® Card Compares
When looking for a balance transfer card, it's important to be aware of your options. We compare the Citi Simplicity® Card to two other balance transfer cards on the market to help you make an informed decision.
Citi Simplicity® Card vs. Citi Double Cash® Card
The Citi Simplicity® Card offers a longer 0% APR on balance transfers at 21 months compared to the 18 months from the Double Cash® card. However, the Double Cash® lets you earn 2% cash back on all your purchases, while the Simplicity® lacks rewards. If earning cash back is important for you, the Double Cash® is a strong alternative.
Citi Simplicity® Card vs. Discover it® Cash Back
The Citi Simplicity® Card offers 0% introductory APR on purchases for 12 months and no rewards. In contrast, the Discover it® Cash Back card gives you 0% introductory APR for 15 months on purchases, 5% cash back on rotating categories and 1% cash back on all other purchases. If you’re anticipating a large credit card expense, you may find the Discover it® Cash Back more beneficial.
How We Evaluated the Citi Simplicity® Card
Our assessment of the Citi Simplicity® Card card involved a thorough comparison with 23 other cards in its category. We focused on key features such as the length of the APR introductory periods, ongoing interest rates, reward structures and associated fees.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
sources
- Citi . "Citi Simplicity® Credit Card." Accessed January 20, 2024.
- Citi. "Citi Double Cash® Credit Card." Accessed January 20, 2024.
- Discover. "Discover it® Cash Back Credit Card." Accessed January 20, 2024.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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