There aren’t many Citi Simplicity benefits, but one stands out – the 0% introductory APR period on purchases and balance transfers. You pay no interest on balance transfers for up to 21 months, one of the best 0% intro deals on any card.
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As its name suggests the Citi Simplicity® Card is a fairly simple and straightforward credit card with limited benefits. The Citi Simplicity credit card does not have a rewards program, so you won’t earn cash back or Citi ThankYou points either as a sign-up bonus or for ongoing purchases. The Citi Simplicity card has no annual fee but does come with a few benefits that make it useful. We’ll look at some of the Citi Simplicity benefits and which ones might make the card worth it for you.
Citi Simplicity Card benefits
The Citi Simplicity card is a very basic Citi credit card that comes with no annual fee and no rewards program. While there aren’t as many Simplicity benefits as there are with other credit cards, there are a few you’ll want to keep in mind.
0% introductory period for balance transfers
One of the best Citi Simplicity benefits is an introductory period with a 0% APR interest rate. Citi will charge you a 0% intro rate for any balance transfers that you make for the first 21 months from the date of your first balance transfer, as long as you perform the balance transfer within four months of your account opening. After that intro period, you’ll have a variable APR rate of 16.24% to 26.24%.
If you’re not familiar with how balance transfers work, they can definitely save you money if you already have a significant balance on another credit card. Transferring that balance to the Citi Simplicity would help you stop accruing interest on it, so you can focus your efforts on paying off the balance. To find out if you can pay off your debt during the card’s 21-month intro period, check out our balance transfer calculator.
Remember, there is also a balance transfer fee of $5 or 5% of each transfer (whichever is greater). Still, if you have a large balance on another credit card, being able to get 0% for nearly two years will save you a lot of money.
0% introductory period for purchases
In addition, the Citi Simplicity card also has a 0% intro APR on purchases. This intro APR period on purchases lasts for the first 12 months from when you open your account (16.24% to 26.24% variable APR thereafter). Any purchases you make during this period will not accrue any interest charges as long as you fully pay for them before the intro period is over. Of course, it is solid financial practice to pay off your credit card statement in full, each and every month when possible.
No annual fee, late fees or penalty APR
Another great Citi Simplicity card benefit is that there are hardly any fees. There is no annual fee on the card. For those still resolving their credit debt and happen to miss a payment, the card will not charge you any late fees or penalty APR. This is especially helpful to ensure you don’t incur new debt while you’re still paying off old debts.
Two fees with the Citi Simplicity card that you do need to be aware of are the balance transfer fee which we discussed previously, as well as a 3% foreign transaction fee if you use the Citi Simplicity card in another country.
Other Citi Simplicity benefits
Like most credit cards, you are not held liable for any unauthorized purchases made on your credit card account. The card also allows you to set up account alerts to keep you informed about your account as well as access to Citi’s 24/7 customer service. Through your online account, you may also choose the specific day of the month you’d like your payment to fall on. The Citi Simplicity also allows you to set up a digital card number and contactless pay.
Maximizing the Citi Simplicity Card
Because the Citi Simplicity credit card doesn’t come with a ton of perks, there isn’t much you can do to maximize your Citi Simplicity benefits. The Simplicity Card is one of the best credit cards for carrying a balance, thanks to the long intro 0% APR periods for both purchases and balance transfers.
There aren’t any rewards or other fees to watch out for, so just make sure you have registered your account online and set up autopay, preferably for the full balance, to ensure you don’t miss any payments. And of course, make sure you make your balance transfers within the first four months or else they will not qualify for the 21-month intro APR period.
If you were hoping for some travel perks, you should check out the Citi Premier® Card. However, with its long intro APR offers, the Citi Simplicity card is worth looking at for anyone carrying a balance. If you end up choosing it, this card can save you a significant amount of money in interest.
Before you settle, be sure to compare the Citi Simplicity to its cousin, the Citi® Diamond Preferred® Card. It may help to examine their similarities and differences before making an informed decision on which one you’ll apply for.