The initial credit limit will be at least $500. We value your trust. Set alerts for withdrawals, password changes, balance transfers and payments. You choose the monthly date when you pay the minimum or full balance on your card. Though this fee is high, it may be significantly lower compared to the interest youll pay without the card. However, there are other cards with longer 0% APR periods for purchases, including cards that also earn rewards on your spending. Does the Citi Simplicity Card raise credit limits automatically or charge for limit increases? But theres no penalty APR or late payment fee if you pay late. Consistently provide up-to-date, reliable market information so you\'re well-equipped to make confident decisions. The Citi Simplicity card does not have a welcome offer. It is recommended that you keep an eye on your previous account, as you will need to still make payments on the account until the transfer is completed. Citi Simplicity Card Review: Long Balance Transfer Period, We want to help you make more informed decisions. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. is an independent, advertising-supported publisher and comparison service. This cards excellent 0% APR introductory period makes it a good option for people looking to consolidate debt or financing a large purchase. Considering the Citi Simplicity isnt a rewards card and doesnt offer a sign-up bonus, you may find its value diminished after your balance is paid off. 0% Intro APR for 21 months for balance transfers and 12 months for purchases (then variable APR 16.24% to 26.24%), Balance transfers must be completed within 4 months of account opening, Includes Citi Identity Theft Solutions protection. What is the average credit score needed to get approved for a Citi Simplicity Card? Since credit cards come with different fees and terms, its wise to understand the fine print before applying. 2022 NextAdvisor, LLC A Red Ventures Company All Rights Reserved. The offers that appear on this site are from companies from which receives compensation. Since the card is chip-enabled, you can tap your card on payment readers for convenience. The information on this site does not modify any insurance policy terms in any way. For more information, see, The Citi Simplicity Card doesnt have any rewards for spending, so a. is a better bet for everyday spending. A good no annual fee card for balance transfers. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. We factored in each card's balance transfer fee, the length of the 0% interest period and any interest you'd pay once the intro period ends. Citi offers a 24/7 phone helpline so that you can get in touch with a representative almost immediately. no say or influence on how we rate cards. Citi is an advertising partner. Some of us need more time than others, especially when it comes to balance transfers. There are also no late fees. Balance transfers must be completed within 4 months of account opening. Pre-Approved: Whats the Difference? The card comes with $0 liability protection on unauthorized charges made to your account through Mastercard. Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Our editors and reporters thoroughly fact-check editorial content to ensure the information youre reading is accurate. Cardholders do have access to Citi Entertainment, which provides early access and special perks at music, theater, dining and sports events, such as Keith Urban in Las Vegas, Broadway shows and the Basketball Hall of Fame showcase. Not only does it have no annual fee, but it also offers a 0% intro APR on balance transfers (made in the first 60 days) for 15 billing cycles (then 15.49% 25.49% variable APR), and offers a $200 welcome bonus (after spending $1,000 in purchases within 90 days of account opening). You can take advantage of the long $0 intro APR period and $0 annual fee. For balance transfer cards, we used a Bankrate calculator to tally the interest rates and fees you could incur if you transferred $6,194, the average balance Americans carry on their credit cards in 2019, according to Experian. The Citi Simplicity card offers exactly that: simplicity. rates and fees, presented in the review is accurate as of the date of the review. Use of this site constitutes acceptance of our Terms of Use, Privacy Policy (Your California Privacy Rights) and California Do Not Sell My Personal Information. BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access. 2022 Bankrate, LLC. The information, including card rates and fees, is accurate as of the publish date. For every international transaction you make, youll pay 3% of the total. Youll have 4 months from opening your account to make a balance transfer, but your 18-month no-interest countdown wont start until the first one is posted to your account. The Citi Simplicity Card is designed to help you pay off lingering credit card balances or finance a large purchase and offers no ongoing rewards structure. The more you pay each month toward your debt, the faster you'll pay off the balance you've transferred, and ideally, you could pay off the card in full before the higher interest rates kick in. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens.

Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. There is a $5 or 5% fee (whichever is greater) charged to make the balance transfer. Claire Dickey is a product editor for Bankrate, and To Her Credit. After the introductory period, the variable APR will be 16.24% to 26.24%. This costs either $5 or 5% of the amount of each credit card balance transfer, depending on which is greater. Since the card is designed for building credit, it doesnt offer any rewards or cash back. Before submitting a Citi Simplicity Card application, its a good idea to understand its advantages and disadvantages. Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. does not include all companies or all available products. The Simplicity card is now once again one of the leading options if you need a long balance transfer APR, but another card may offer a more balanced choice if you have big purchases coming up, want to earn rewards or need to shield yourself from interest. It's important to note the value of a point or mile varies from card to card and based on how you redeem them. If you want more long-term value from a balance transfer credit card, this is one of the best flat-rate cash back cards on the market, so its definitely worth hanging onto. Then, your variable APR is based on your creditworthiness and ranges from 14.74% to 24.74%. When we crunched the numbers to see which cards could help you pay down debt at the lowest cost, we assumed you'd transfer an average debt of $6,194 and pay $200 per month, which means you could pay off the debt in roughly 34 months. If you want a higher rewards rate and dont mind a spending cap, the Citi Custom Cash can be a good fit. Whether youre taking advantage of the Citi Simplicity Card for a balance transfer or financing a large purchase, make sure you have a plan in place to pay off the balance before the end of the introductory period. If you are looking for a long balance transfer intro period but also want some type of rewards program, the Discover it Balance Transfer is another good option. Some cards 0% balance transfer periods start as soon as you open the card, so Citi Simplicity gives a bit more flexibility as to when you make your first balance transfer. The lack of rewards may not make this a card to keep in your wallet forever, but it will help build your credit history and lower debt. (See our methodology for more information on how we choose the best cards.). Should you accept an early retirement offer? Does the Citi Simplicity Card have a mobile app or the option to pay or manage your account online? For a credit card without a rewards rate, welcome bonus or fancy perks, the Citi Simplicity still offers several helpful protections and services. Ryan Haar is a former personal finance reporter for NextAdvisor. Yes, this card reports to the three credit bureaus. Not having to pay an annual fee or late fees are also major perks. With the 21-month zero percent intro APR balance transfer offer, Bankrates credit card balance transfer calculator shows that youll pay around $239 a month for 21 months without owing additional fees in interest (16.24 percent to 26.24 percent variable APR thereafter).

There is no annual charge to be a Citi Simplicity Card customer. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). You will owe a balance transfer fee of $250, though. You can read more about their methodology here. is an independent, advertising-supported comparison service. Youll need to have good to excellent credit to qualify for this card. Does the Citi Simplicity Card offer the option to freeze your credit/account or have other security features? Is the Citi Simplicity Card application process lengthy? Keep in mind the 5% balance transfer fee ($5 minimum), which would cost $150. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. The use of this website means that you accept the confidentiality regulations and the conditions of service. This commission does not influence the opinions, recommendations, or placement of any products on our site. These are the best available rates across different account types, 0% intro for 18 months on Balance Transfers, 0% intro APR for up to 21 months from account opening on qualifying balance transfers. What information is needed to apply for the Citi Simplicity Card? There is no rewards program or welcome bonus. Just make sure youre paying off that cards balance as well since you only have 4 months from opening your Citi Simplicity Card to make balance transfers. INTERESTED IN COMPARING THE BEST CREDIT CARDS OF 2022? However, the Unlimited Cash Rewards cards balance transfer fee can be slightly higher than the Citi Simplicity (3 percent fee, minimum $10) and the intro offer is six months shorter.

Accessible through both your web account and mobile app, these features include additional authentication methods, account encryption, and automatic notifications. The application process to get pre-approved with Citi takes a few minutes. With the Citi Simplicity Card, you can pay off debt easily since it has no annual fee and a long introductory 0% APR period. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout lifes financial journey. These might not save you as much money as waiving a transfer fee, but they can still provide a valuable safety net in case you occasionally forget your payment due date. Carrying a balance on a high interest credit card can be costly. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. When choosing the best balance transfer card, we focused on the card that provides consumers with the cheapest way to pay off their debt rather than the number of rewards they could potentially earn. You can also report unauthorized charges through the Mastercard app for a quicker response. Yes, it does. During the intro period, make sure to create an aggressive repayment plan so you can start living debt-free. Keep in mind, while this may be helpful down the line, the goal of this card is not to get the highest limit possible. The Citi Simplicity is a great option for those who need a longer introductory period for balance transfers, but the comparatively steep balance transfer fee may be enough to sway you in the direction of another card. BALANCE TRANSFERS WITH CITI: AN IN-DEPTH GUIDE, increase your Citi Simplicity Card credit limit. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. The Citi Simplicity card does not offer rewards. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access That's a significant savings. NextAdvisor may receive compensation for some links to products and services on this website. Can you prequalify? We recommend visiting the card issuers website for the most up-to-date information available. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Theres no annual fee for this card, and the ongoing variable APR ranges between 16.24%- 26.24% after the intro period, based on creditworthiness. Youll be charged 3% of each purchase transaction after its converted to U.S. dollars. Though some balance transfer cards dont charge a balance transfer fee, the Citi Simplicity is unique in that it wont charge late payment fees or subject you to a penalty APR. She previously wrote for Bloomberg News, The. Theres no rewards structure, but if getting one of the longest available intro APRs on the market provides you with the necessary breathing room to pay off your debt, the sacrifice may be worth it. Your creditworthiness determines your variable APR. You will not be responsible for fraud charges made in store, online or over the phone. Say you have $5,000 in credit card debt and transfer your balance to the Citi Simplicity. Check the banks website for the most current information. While a balance transfer card can be a smart tool for managing your debt, before you open a new card you should first set up a debt repayment plan. If you need quick access to a representative, Citi offers help whenever you need it. The Capital One Quicksilver Cash Rewards Credit Card lets cardholders earn unlimited 1.5 cardholders earn unlimited 2 percent cash back on all purchases. However, the limit can go much higher depending on your credit history, income, and any potential debt. You need to pay a fee of either $5 or 5% of the amount of each credit card balance transfer, whichever is greater. The Citi Simplicity Card doesnt have any rewards for spending, so a cash back credit card is a better bet for everyday spending. may not offer insurance coverage in all states or scenarios. General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses. You wont be held liable if theres a charge on your account that you didnt authorize. The Citi Simplicity Card offers no annual fee, no late fee and more.

Home equity line of credit (HELOC) calculator. While you have more time to complete a transfer, the intro APR period starts at account opening so you'll want to make the transfer as soon as possible to get the most benefit of the interest-free period. You could pay between 14.74% and 24.74%. However, credit score alone does not guarantee or imply approval for any The Citi Simplicity Card is ideal for individuals looking for straightforward terms who want a balance transfer card. These might not save you as much money as waiving a transfer fee would, but they can still provide a valuable safety net in case you occasionally forget your payment due date. Does Citi offer other credit cards besides the Citi Simplicity Card? At NextAdvisor were firm believers in transparency and editorial independence. * See the online application for details about terms and conditions for these offers. credit cards based on a variety of factors Compare top rates from our trusted partners. It has no annual fee, no late fees and a 0% intro APR period for purchases in the first 12 months. However, this will be fulfilled as 20,000 ThankYou points, which you can then redeem as a $200 cash back. Offers may be subject to change without notice. Otherwise your remaining balance will be subject to a variable APR of 16.24% to 26.24%, which is a higher APR range than some other similar cards. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. To apply for the Citi Simplicity Card, youll need to provide your name, birthday, Social Security number, address and other important financial information. Terms apply to the offers listed on this page. Disclaimer: Credit card offers are constantly changing. Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. American Express Marriott Bonvoy Business Card, American Express Delta SkyMiles Gold Card, PenFed Power Cash Rewards Visa Signature Card, American Express Delta SkyMiles Platinum Business Card, U.S. Bank Altitude Connect Visa Signature Card, American Express Delta SkyMiles Platinum Card, Alliant Credit Union Cashback Visa Signature Credit Card, American Express Delta SkyMiles Reserve Business Card, American Express Delta SkyMiles Reserve Card, Capital One Spark Cash Select - Good Credit, American Express Hilton Honors Surpass Card, Credit One Bank Platinum Visa for Rebuilding Credit, American Express Hilton Honors Business Card, Chase Southwest Rapid Rewards Performance Business, Navy Federal More Rewards American Express, NASCAR American Express Card from Credit One Bank, U.S. Bank Triple Cash Rewards Visa Business Card, Citi AAdvantage Executive World Elite Mastercard, Bank of America BankAmericard for Students, Bank of America Travel Rewards for Students, .css-9seimi{position:static;-webkit-text-decoration:none;text-decoration:none;color:var(--chakra-colors-mg-navy);}.css-9seimi::before{content:'';cursor:inherit;display:block;position:absolute;top:0px;left:0px;z-index:1;width:100%;height:100%;}Business vs. Corporate Credit Cards. card visa platinum credit rate cards advantage usaa simmons apply karma popular