The Citi Simplicity® is a standout choice for dealing with credit card debt. This no-annual-fee card offers 21 months of 0% intro APR on balance transfers, allowing you to pay off your balance for an extended time without accruing interest. With no late fees or penalty rates and a low balance transfer fee, it’s tailored for people needing a little support to pay off their debts. However, it lacks a rewards system, so it’s not the best option if you also want to earn rewards on your new purchases.
Citi Simplicity Review: Longest 0% APR Period on Balance Transfers Plus No Fees
Updated: November 4, 2024
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MoneyGeek’s Take
Citi Simplicity® Card
On Issuer's Site
APR Regular
18.74% - 29.49% variableAnnual Fee
$0Recommended Credit
670-850 (Good to Excellent)Moneygeek.com credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
Rewards Earning
This card doesn't offer cash back, miles, or point...Citi Simplicity Overview
The Citi Simplicity is designed to tackle existing credit card debt from non-Citi cards. It offers a 21-month 0% intro APR on balance transfers — the longest on the market — allowing you to repay your balance with low monthly payments and no interest.
This card is also great if you’re tight on cash. It has no annual fee, no late fees and no penalty APRs. Plus, its balance transfer fee is only 3% for the first four months, compared to the usual 5% from other cards. Additionally, the Citi Simplicity provides a 0% intro APR on new purchases for 12 months. This gives you some breathing room for large purchases or if you need to pay only the minimum for a while.
However, it lacks a rewards program, and you’ll need good to excellent credit to qualify, which might make other options more appealing.
>>MORE: MoneyGeek's Best Balance Transfer Credit Cards
Citi Simplicity Card Details
Feature | Details |
|---|---|
Card Uses | Balance Transfer |
Annual Fee | $0 |
Introductory Offer | None |
Introductory APRs |
|
Rewards | None |
Regular APRs | 19.24%–29.99% variable |
Penalty APR | None |
Balance Transfer Fees | 3% for each transfer, minimum $5 |
Late Fees | $0 |
Foreign Transaction Fee | 3% of each transaction in U.S. dollars |
Other Perks |
|
Why You Might Want This Card
The Citi Simplicity Card’s balance transfer offer and no-fee policies are tough to beat. It’s one of the best options on the market for managing credit card debt.
Extended Balance Transfer Intro APR
The card gives you a lengthy 0% intro APR on balance transfers for 21 months, one of the best offers available. This gives you ample time to tackle existing debt without the pressure of accumulating interest.
Introductory Purchase APR
The card offers a 12-month 0% intro APR on purchases, providing a buffer period for new expenses without accruing interest. This feature can be a lifesaver if you're on a tight budget, allowing you to pay just the minimum balance for a year.
No Fees
With no annual, late or penalty fees, the Citi Simplicity® Card keeps your costs down. This card's lenient approach also provides peace of mind if you're occasionally late on a payment. Nevertheless, make sure that you’re spending responsibly and paying your bills on time.
Why You Might Want a Different Card
The Citi Simplicity is great for balance transfers, but the absence of rewards means there are likely better options for an everyday card.
No Rewards Program
If you want to earn points or cash back on your purchases, this card won't meet your needs. You won't earn any cash back on all the purchases you make with this card. It's not difficult to find cards like the Capital One Quicksilver Cash Rewards Credit Card, which comes with both a balance transfer intro APR period and a cash back system.
Credit Score Requirements
The card is targeted at individuals with good to excellent credit. If your credit history is less than stellar, you might face hurdles in getting approved, making it less suitable for consumers working on rebuilding their credit.
How to Get the Most From Citi Simplicity
The Citi Simplicity Card can help you overcome your credit card debt and get to your financial happy place by adopting these tactics:
- 1
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.
- 2
Develop a Payoff Strategy
If possible, plan to pay off your balance in 15 to 18 months. This gives you a few months buffer in case you’re unable to follow through on your payment plan. 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.
- 3
Spend Smartly on New Purchases
The 0% introductory APR for 12 months is great for emergencies, but don't use it as an excuse for irresponsible spending that could potentially get you into more debt.
How Citi Simplicity Compares
When looking for a balance transfer card, it's good to know your options. We compare the Citi Simplicity to other balance transfer cards on the market to help you make an informed decision.
Citi Simplicity vs. Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card balance transfer offer is shorter at 15 months, then 19.74% - 29.74% variable APR after that. But it comes with a $200 signup bonus and an unlimited 1.5% cash back on all purchases. If you can pay off your balance in 15 months, the Quicksilver Cash Rewards is a stronger option, allowing you to earn cash back while dealing with your debt.
Citi Simplicity vs. Citi® Diamond Preferred®
From the same issuer, the Diamond Preferred® Card provides the same 21-month 0% intro APR period on balance transfers. However, it comes with a higher balance transfer fee of 5% and lacks the forgiving policies of the Simplicity Card, so consider your options carefully.
All Citi Simplicity Card Comparisons
- Citi Simplicity Card vs. Discover it Miles
- Citi Simplicity Card vs. Citi Diamond Preferred Card
- Citi Simplicity Card vs. Citi Custom Cash Card
- Citi Simplicity Card vs. Wells Fargo Reflect Card
- Citi Simplicity Card vs. Discover it Cash Back Card
- Citi Simplicity Card vs. Citi Rewards Card
- Citi Simplicity Card vs. BankAmericard Credit Card
- Citi Simplicity Card vs. US Bank Altitude Go Visa Signature Card
- Citi Simplicity Card vs. Bank of America Travel Rewards
- Citi Simplicity Card vs. Wells Fargo Active Cash Card
- Citi Simplicity Card vs. Discover it Chrome
- Citi Simplicity Card vs. Capital One Venture Rewards Credit Card
- Citi Simplicity Card vs. Capital One Quicksilver Cash Rewards Credit Card
- Citi Simplicity Card vs. Citi Double Cash Card
Cards to Pair With Citi Simplicity
Pairing the Citi Simplicity's lengthy 0% APR period on balance transfers with a rewarding cash back card can help you maximize your earnings and debt-payoff strategy. We analyzed the marketplace to find a card that perfectly complements Citi Simplicity's offerings.
Pair With the Capital One Savor Cash Rewards Credit Card
If you want to earn rewards on your purchases while managing your debt, pairing the Citi Simplicity with another card can be a good idea. Its extended 0% intro APR period on balance transfers pairs well with a card like the Capital One Savor Cash Rewards, which offers generous cash back on dining, entertainment and groceries. You can transfer your existing balance to the Citi Simplicity Card and use the Savor for new purchases. This strategy allows you to earn cash back while paying off your balance.
Is Citi Simplicity Right for You?
The Citi Simplicity Card is great for those with good to excellent credit who need some flexibility in paying down their existing balance. If you're planning a balance transfer and can benefit from a 21-month 0% APR period, this card could help you save on interest charges.
However, if you're also looking to earn rewards on your purchases, you will need to pair the Citi Simplicity with another card or find another option. After you've paid off the balances, consider switching to a different card that offers rewards.
BEST BALANCE TRANSFER CARDS OF 2024
Still on the fence with the Citi Simplicity? Explore our picks for the best balance transfer credit cards to help you find one that matches your needs and preferences.
How We Evaluated the Citi Simplicity Card
In evaluating the Citi Simplicity, MoneyGeek considered several key features, each with a specific weight contributing to the card's Balance Transfer Score of 4.48 out of 5. Here's how the card stacked up in our analysis of 39 cards in the category, with a focus on features that are most relevant to those seeking to manage debt and rebuild credit:
- Balance Transfer Offer (50%): A 5 rating indicates an exceptional offer for balance transfers.
- Regular APR (15%): A 5 rating signifies a highly competitive regular APR after introductory periods.
- Intro Purchase APR (15%): A 5 rating reflects an excellent introductory APR offer for purchases.
- Issuer Satisfaction (5%): A 5 rating is based on high issuer satisfaction according to J.D. Power.
- Penalties (5%): A 5 rating means the card has no late fees or penalty rates.
- Recommended Credit (5%): A 5 rating suggests the card is accessible to a wide range of credit scores.
- Effective Reward Rate (5%): A 5 rating indicates a highly rewarding system, but this card does not offer rewards.
This comprehensive analysis allows us to review and directly compare balance transfer cards, helping you make the best choice for your finances.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
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
- Capital One. "Savor Rewards from Capital One." Accessed November 4, 2024.
- Capital One. "QuicksilverOne Cash Rewards for Students." Accessed November 4, 2024.
- Citi. "Citi® Diamond Preferred®." Accessed November 4, 2024.
- Citi. "Citi Simplicity® Credit Card." Accessed November 4, 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.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.