Citi Simplicity® Card: One of the Best 0% APR Cards

Citi Simplicity® Card: One of the Best 0% APR Cards

On Citibank's Secure Website

Editor's Rating


Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Citi is an advertising partner.

The Citi Simplicity® Card can be an excellent tool for consumers who wish to get their credit card debt under control. This card comes with an intro APR of 0% for 21 months on Balance Transfers – which is among some of the better offers we've seen–then a 14.74% - 24.74% (Variable) APR applies, based on your creditworthiness.

Review: The Citi Simplicity® Card Is A Great Option For Lowering Your Interest Payments

The Citi Simplicity® Card is a great option if you have a balance on an existing card and are seeking to pay it down quicker, and avoid interest. The intro 0% for 12 months on Purchases and intro 0% for 21 months on Balance Transfers gives you ample opportunity to put a dent in your debt. After the intro rate, a 14.74% - 24.74% (Variable) APR applies. According to reports from the Federal Reserve, the average credit card APR for accounts that are assessed interest hovers at around 15%. If you have $10,000 in credit card debt and are making $550 monthly payments on an average card, moving the debt over to the Citi Simplicity® Card can save you as much as $1,255. On top of this, transferring the balance over will also cause you to be rid of the debt sooner than had you stuck with the 15% card.

Citi Simplicity® Card

On Citibank's Secure Website


14.74% - 24.74% (Variable)

660 - 850

  • 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 14.74% - 24.74%, 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 14.74% - 24.74%, 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

There are never any late fees nor penalty APR on the Citi Simplicity® Card. Most other cards charge as much as $35 dollars for late payments and can raise your APR as high as 29.99%. Keep in mind that other consequences for missing payments can still apply, such as damage to your credit score. We implore consumers to only treat this benefit as a safety net, in case they ever happen to forget a bill.

The one area where this card underperforms is in its lack of rewards. If you consistently maintain no monthly balance and pay on-time, the Citi Simplicity® Card really doesn't offer much value. Under these circumstances, Citi and other card companies have a wide array of rewards credit cards that will earn you points, miles or cash back on all your purchases. If you're willing to settle for slightly worse terms, you can also opt for a balance transfer/reward card hybrid, such as the Chase Freedom Flex℠.

Bottom Line: The Citi Simplicity® Card is one of the better cards for paying down debt. If you diligently pay off your credit card debt in full every month, however, you'll be better off looking for a reward credit card instead.

Citi Simplicity® Card Benefits & Features

The main benefit of the Citi Simplicity® Card is the fact that it provides users with a good balance transfer period -0% for 21 months on Balance Transfers. With each transfer to the card, you will have to pay a Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum. This is a standard rate, and is found on most credit cards of this type. After this promotional period ends, your APR will shift to somewhere between a 14.74% - 24.74% (Variable) APR.

Reducing Debt With the Citi Simplicity® Card

One of the major reasons we like the Citi Simplicity® Card is that the card can be used to help you regain control over you financial situation. Unfortunately, a scenario we see too often is a cardholder who has accumulated too much credit card debt and ends up spending most of their monthly payments paying off the interest, rather than reducing their total debt. That is where a card like the Citi Simplicity® Card can help. By taking advantage of the intro APR offer new cardholders can transfer their existing credit card balance and begin using their payments to reduce their debt.

No Penalty Rates, Late Fees and No Annual Fees Explained

Marketed as "No Late Fees Ever", the Citi Simplicity® Card does try to differentiate itself with how it handles missed or late payments. Most credit cards we've looked at will charge up to $35 for a late payment which may not be a lot but can add up if it occurs consistently. As its name suggests, the Citi Simplicity® Card does not tack on any fees for late payments, just one small way you could save if you're in this situation.

The card also has no penalty rate. Card companies are generally prohibited from adjusting the interest rate on the card unless one of a few things occur. This list can include but is not limited to things such as making a late payment, exceeding your credit limit and having your payment returned. When this does occur however, your card company can raise the APR on your card, often to a rate that is significantly higher than the worst rate initially offered. Many cards we've seen have penalty APRs as high as 29.99%. Having your interest spike up to this amount can be a much larger cost, over time, than a simple $35 late fee. Therefore, the fact that the Citi Simplicity® Card doesn't come with any penalty APR can be a real money saver.

How Does The Citi Simplicity® Card Compare To Other Credit Cards?

In order to help you determine whether the Citi Simplicity® Card is a good fit, we took a look at how it stacks up against some of its competitors. Below we highlight the major strengths and weaknesses of each matchup.

Citi Simplicity® Card vs Chase Slate®

The Chase Slate® offers No bonus but is one of the few credit cards to waive the transfer fee as an intro offer on balances transferred within the first 60 days of account opening. As a trade-off, the introductory APR is one of the shorter ones on the market: 0% Intro APR on Balance Transfers for 15 months then an APR of 16.49% - 25.24% Variable. As long as you are diligent about paying your credit card bill, and can pay off your debt in under 15 months, the Chase Slate® will be a better deal. In terms of other features, the Chase Slate® comes with the ability to monitor your FICO score, which can be a nice benefit to individuals working on building their out their credit history. Neither card offers rewards for shopping, making them both less valuable once the promotional period ends.

Citi Simplicity® Card vs Citi® Diamond Preferred® Card

On Citibank's Secure Website

The Citi® Diamond Preferred® Card is very similar to the Citi Simplicity® Card in that they offer the same balance transfers period – an intro APR of 0% for 21 months on Balance Transfers. After that, your APR on the Citi® Diamond Preferred® Card will be 13.74% - 23.74% (Variable) and your APR on the Citi Simplicity® Card will be 14.74% - 24.74% (Variable). The Citi Simplicity® Card is the more forgiving of the two for customers who might miss a payment every so often. Nevertheless, if you're looking for a balance transfer card to help pay off debt, then either of these cards will be a great help.

The information related to the Chase Slate® has been independently collected by ValuePenguin and have not been reviewed or provided by the issuer of this card prior to publication.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

On Citibank's Secure Website

Editor's Rating