NEW Citi Simplicity Card Offers 0% Interest, No Late Fees, No Penalty APRs - NerdWallet
Advertiser Disclosure

NEW Citi Simplicity Card Offers 0% Interest, No Late Fees, No Penalty APRs

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved. Heres how we make money .

Citibank seems to be on a mission to be named 2011’s King of Low Interest Credit Cards. Every few weeks it seems like we come across an announcement for a new and improved no-interest offer from them, with the latest being the Citi Simplicity card (announced today).

A quick perusal of their current card lineup shows that the Citi Platinum Select, the Citi Diamond Preferred, and this new card are all offering 0% interest for 18 months on both purchases and balance transfers. And with the ThankYou Preferred offering the same deal for 12 months, the bank now occupies the top 4 out of 5 slots in both our low APR rankings, and our balance transfer rankings.

Low Rates, No Fees, No “Gotcha” Penalties

The Citi Simplicity offer sets itself apart from the pack in a few key ways. Most of these are features you won’t find on any credit cards not offered by Citibank, and there’s not a single bank credit card that offers all of them together:

  • 0% interest on balance transfers for 18 months: For those carrying balances on high-rate cards, this will inevitably save them a ton of month in interest charges.  Even after the 3% transfer fee, this is a huge savings. And outside of Citibank’s arsenal, you won’t find another card offering no interest for almost two years.
  • 0% interest on purchases for 18 months: This might even be a bigger deal, because most balance transfer offers are meant to lure you in with low interest promises, while charging you high rates on anything you buy in the meantime. With the Simplicity, however, you avoid paying interest on anything until the promo period is over.
  • No Late Fees: Have you ever been a few days late on a payment and gotten hit with a $35 fee? It hurts. Most banks will try to hit you with the legal maximum for even the most minor infringements, and only credit union cards ever waive these fees. Well, now we can say “only credit union and Citibank cards.”
  • No Penalty APRs: The only thing that might hurt worse than a $35 late fee is the sky-high APR that most banks will start charging you on purchases, to penalize you for your discretions. Most of the time, these rates are as high as 29.99%.  This is another area where Citibank is bucking the trend and acting a bit more like a consumer-friendly credit union.

Citi Simplicity® Card

Apply Now on Citibank's secure website


  • No late fee
  • No annual fee
  • 0% if you qualify for 21 mos on transfers


  • No rewards
  • Needs excellent credit

Bonus Offer

0% on purchases and balance transfers for 21 months

Annual Fee


Intro APR Promotions

0% on purchases and balance transfers for 21 months


  • Min APR: 13.24%, Variable
  • Max APR: 23.24%, Variable

Card Details

  • 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 13.24% - 23.24% based on your creditworthiness.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • No late fees - EVER
  • No penalty rate - EVER
  • No annual fee - EVER
  • Save time when you call with fast, personal help, 24 hours a day.

Please Guys, Keep the Competition Coming

With the battle for prime credit card customers in full swing, most card companies have chosen to fight with rewards and signing bonuses.  There’s the up-front cash payouts like the Chase Freedom; the huge frequent flyer payouts like the British Airways credit card 100,000 mile offer; and new international traveler perks like those being offered by the American Express Platinum. But Citibank, on the other hand, seems to have taken a different approach, with the Citi Simplicity being the most recent example.

Instead of competing primarily for the frequent flyers, the rewards hackers, and the big spenders, Citi seems to be focusing on those who are battling the Debt Demon and need a few months or a couple of years to pay off the load. And just as importantly, Citi seems to be eschewing complicated rewards tiers and redemption options in favor of offering simplicity (hence the name).

  • Did you find this article helpful?
  • yes   no
  • Anonymous

    Applied… Needs further review. Really?? I have a score in the mid 700’s..

    • Gia

      Did you end up getting it? Just curious. My husband received an application in the mail and we were thinking about applying but his credit score is currently 705 and I’ve read that you need a 725 to be considered. We have never missed a payment or even been late but our debt ratio is keeping his score down. We’re slowly chipping away at our debt but not having to pay interest for 21 months sure would help get it down quicker.

      • Anonymous

        Nope. Shot down. :-(

  • Caleb E. Ng

    You say– Well, now we can say “only credit union and Citibank cards.”
    Actually, AmEx Clear has been this way for years.

  • Joe

    Great – they offer 0% to someone who has never done business with them and jack up a loyal customer’s rate to 29.99%.   All because THEY couldn’t manage their own business and risk and got into the sub prime mortgage area – were they not around in the early ’80’s?   So they instead choose to screw overa a customer they have had for over 12 years who has NEVER been late who has paid interest charges who sometimes carries a balance and sometimes doesn’t but who let’s face it – they make money off of.   A low risk interest earning client.   I spoke with customer service numerous times – nothing they would do about the 29.99% rate – which let’s face it was exactly .01% under the legal limit imposed not too long ago.  So they jacked it as high as they possibly could with no regard for their long term customers.  So long “Shitty” bank I will never never do business with you again – have your actuaries factored that into their little equation – I don’t think so – and I expect ShittyBank will suffer ongoing losses as a result.   Great they deserve it!

    • Tim

      You did the right thing Joe – call the company and demand they lower your
      rate. Then, if they don’t budge, switch.

      There are plenty of card companies offering rates much, much lower than

      (just skip past the first few, since Citi is offering 0% on so many cards
      right now…)

  • Pingback: Stop! Don’t Touch That Pre-Approved Credit Card Offer()

  • Pingback: Stop! Don’t Touch That Pre-Approved Credit Card Offer |