Pros and cons
What you should know about the
The Citi Simplicity® Card may be a good option for people looking for a balance transfer card with a long introductory 0% APR offer. With nearly two years to pay off your balance transfer, this card can help you whittle down existing credit card debt without accumulating more interest.
Plus, the card has no annual fee, late fee or penalty APR charges. But you should expect to pay balance transfer fees.
If you’re considering the Citi Simplicity® Card, here are a few things to keep in mind.
You’ll get an introductory 0% APR on balance transfers for 21 months from the date of your first balance transfer (you may see different offers on Credit Karma). This is one of the longest balance transfer offers on the market. But note that if you want to take advantage of it, you’ll have to complete any balance transfers within four months of opening your account.
Expect to pay a balance transfer fee: Intro fee 3% of each transfer ($5 minimum) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 minimum). And once the introductory period ends, the card has a 18.49% - 29.24% variable APR on balance transfers.
Want to see how much you might be able to save with a balance transfer? Take a look at our balance transfer calculator.
Intro balance transfer and purchase offers have different timelines
Since the balance transfer introductory offer and the purchase introductory offer each have different timelines, you’ll want to keep close track of both balances.
Heads up: If you don’t pay your purchase balance off in full after the intro period is up, you could end up paying interest not only on new purchases after the 12 months are over, but also on any remaining amount from your balance transfer. Learn more about the risks associated with balance transfers.
It doesn’t earn rewards
The Citi Simplicity® Card is a bare-bones card that doesn’t offer any type of rewards program. So if you’re looking for a card for balance transfers that can also help you earn cash back, points or miles, this isn’t the card for you.
It also doesn’t come with any other extra perks or benefits.
What else you need to know about
If you’re still not sure about the Citi Simplicity® Card, here are some other card features that may factor into your decision.
- No ability to prequalify — There isn’t an option to prequalify for this card, so when you submit your application, expect a hard credit inquiry.
- Potentially low credit limit — Depending on your credit, you may only qualify for a limit of $500.
- Foreign transaction fees — If you’re planning to use this card while traveling abroad, you’ll be hit with a 3% fee on all international transactions.
Who this card is good for
The Citi Simplicity® Card is best for people looking for long 0% intro balance transfer offers to help pay down their credit card debt. With one of the longest intro APR offers around, this Citi card provides a little extra breathing room to pay off your balance without racking up extra interest charges.
But if you plan to also take advantage of the card’s intro 0% purchase APR offer, make sure to pay close attention to your monthly statements and pay off your purchase balance in full each month after the intro period is up.
Not sure this is the card for you? Consider these alternatives.
- Citi Double Cash® Card: This card is good for people who want to pay down existing credit card debt while still earning flat-rate cash back rewards.
- Wells Fargo Reflect® Card: This card may be a good fit for people looking for a lengthy intro APR on both balance transfers and new purchases.
Overall rating:
Everyone: you're supposed to use this type of credit card to get balance transfers at ZERO PERCENT interest for x months. THEN, you pay that transferred balance over the course of said x months. Don't be stupid and irresponsible and end up not being able to pay off your debts. So stupid to complain about your interest rate! Don't be a victim!