Citi Simplicity® photo
Citi Simplicity®
Recommended credit score: Excellent Good
Apply Now

Citi Simplicity® is a close to ideal solution for those with a large credit card debt or those willing to consolidate their balances from different credit cards to a single card account. If you have an excellent credit score, you may benefit from a special balance transfer offer – a 21-month period free of any interest for repaying your debt.

Best way to use the card

The card has a 21-month introductory period with 0% APR on balance transfers completed within the first four months of account opening. So make sure to plan it properly and allocate enough time for balance transfer request processing.

To request a balance transfer, you should contact Citi customer service. You may find their phone number on the back of your card. Alternatively, you may request a balance transfer while applying for the Citi card. However, note that balance cannot be transferred within the first two weeks of account opening.

There is a balance transfer fee of $5 or 3% of each transfer, whichever is greater. The fee is a downside of the card, however, 3% is lower than average among similar offers. Bear in mind this fee while requesting a balance transfer – the total amount must not exceed your credit limit.

The best part of this promotional balance transfer offer is that the interest is waived not just deferred. After a 21-month period with 0% interest, a regular purchase APR is applied to your unpaid balance. Do your best to reduce your balance and you’ll save a lot on interest.

Who qualifies

This balance transfer offer is available to new accounts only.

To qualify for this card, you should have a good to excellent credit score. Your credit line is defined based on your existing debt and your annual salary, wages and other income.

Costs and rewards

The card has neither annual fee nor rewards programs. It stands out because of its incredible tolerance of late and even missed payments. It promises to never charge you with late fees and penalty APRs. However, inaccurate payments may be reported to credit bureaus and reduce your credit score. Also after two months of missed payments, you may lose your promotional zero APR offer.

The bottom line

The card proves its name, it is simple and fair. The Citi Simplicity® card has no annual fee, no hidden costs like fees and penalties for late payments, and what’s even more pleasant, it waives interest for the whole 21-month long introductory period not just defers it. This is a brilliant combination of features if you are eager to pay down your debt without any pitfalls.

If you want to save on interest payments for additional 21 months while paying down your debt, this option is for you.

Citi Simplicity® photo
Citi Simplicity®
Recommended credit score: Excellent Good
Apply Now