Citi Simplicity® Card has some impressive perks designed to give you flexibility and peace of mind.
Our expert’s summary:
- 0% intro APR on balance transfers for 21 months. This means you’ll pay no interest well into 2024!
- 0% intro APR on purchases for 12 months
- No penalty APR. Your APR won’t increase if you slip up and are late on a payment!
- Choose your payment due date
- No late fees & $0 annual fee
Simply put, if you’re looking to avoid credit card interest on balance transfers for the longest time possible, it’s hard to beat this card.
Intro APR
Purchases: 0%, 12 months
Balance Transfers: 0%, 21 months
Regular APR
15.49% – 25.49%, (Variable)
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- No Late Fees, No Penalty Rate, and No Annual Fee… Ever
- 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 15.49% – 25.49%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater.
- The standard variable APR for Citi Flex Plan is 15.49% – 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.
- Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges
What I Like About Citi® Simplicity® Card
0% introductory APR for 21 months on balance transfers: One of the longest introductory periods on balance transfers we’ve come across, you’ll get a 0% intro APR on the balance transferred for a full 21 months, which means you’ll have almost two years to pay off your balance.
0% introductory APR for 12 months on purchases: You’ll also get a 0% intro APR on new purchases for the first 12 months. This is a helpful perk if you plan on buying anything with the card.
Choose your payment due date: A little flexibility can go a long way when it comes to managing your finances. The card lets you choose from any available payment date, whether it’s in the beginning, middle, or end of the month. That way, you can set up automatic payments that are aligned with your paycheck.
No late fees: One of the most unique perks is that there are no late fees, ever. While you should always pay your bill on time, because late payments can still affect your credit, it’s nice to know that you won’t be charged if you do slip up and miss a payment.
No penalty APR: If you miss some payments, most credit cards will increase your interest rate to their penalty APR. Citi® Simplicity® Card never charges a penalty rate, so your APR isn’t at risk of increasing due to late payments.
No annual fee: This card comes with no annual fee, which is an important feature if your goal is to pay off debt.
With the quality benefits the card offers, it’s primarily aimed at consumers who have a credit score of 670 or better. There are reports of people with scores in the mid 600s being approved for this card. For tips on increasing your credit score above 670, click herestyle=”text-decoration: underline”>.
If your priority is a long 0% intro APR for a balance transfer, the Citi® Simplicity® Card clearly outshines the competition. We haven’t found a card that offers a longer period to pay intro 0% interest on balance transfers with the added benefits of no late fees, flexible payment date, and no penalty APR Citi® Simplicity® offers. The 12 month 0% intro APR on purchases is also helpful if you have an unexpected large expense and need to spread the cost out over time.
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About the Author
Director and personal finance industry analyst for The Ascent by The Motley Fool, a new online publisher of the year award recipient in 2017. Prior to that, he was a Director for The Motley Fool. He has 15 years of finance experience under his belt and has published over 800 educational and research articles that have appeared on websites such as MSN, AOL, and Yahoo Finance. He holds an MBA in Finance from George Washington University.
