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What’s the same for both
- Both cards have a $0 annual fee
- Neither card offers rewards or a sign-up bonus
- Both cards require good to excellent credit for approval (learn about the range of credit scores, or get your free credit score on NerdWallet)
- BankAmericard® credit card: 0% on Purchases for 18 billing cycles and 0% on Balance Transfers for 18 billing cycles for balance transfers made in the first 60 days, and then the ongoing APR of 14.99% - 24.99% Variable APR.
- Citi Simplicity® Card - No Late Fees Ever: 0% on Purchases for 12 months and 0% on Balance Transfers for 21 months, and then the ongoing APR of 15.99% - 25.99% Variable APR.
Which is better?
The BankAmericard® credit card offers the potential for a slightly lower ongoing interest rate, but Citi gives you four months to transfer balances and still claim the 0% intro APR. With the BankAmericard® credit card, you have only 60 days. If your primary concern is paying off debt without interest, the edge goes to the Citi Simplicity® Card - No Late Fees Ever.
Balance transfer fee
- BankAmericard® credit card: Either $10 or 3% of the amount of each transaction, whichever is greater. However, as of this writing, Bank of America® was offering a $0 introductory fee for balance transfers made in the first 60 days. That offer was available only on the bank’s own website, not through any other source.
- Citi Simplicity® Card - No Late Fees Ever: 5% of each balance transfer; $5 minimum.
Which is better?
If you can get a $0 transfer fee, hop on it. But even without such an offer, the BankAmericard® credit card will have a lower fee for any transfer amount over $200.
Late payment policies
- BankAmericard® credit card: The issuer won’t raise your interest rate if you pay late, which is especially important if you have a 0% intro APR in place. However, the card charges late fees, which can cost you up to $38.
- Citi Simplicity® Card - No Late Fees Ever: As its promotional name makes clear, this card doesn’t charge late fees. It also doesn’t impose a penalty interest rate for paying late.
WHICH IS BETTER?
If you’re the absent-minded type, the Citi Simplicity® Card - No Late Fees Ever can save you real money. Even so, paying late is a bad habit to develop, and it could hurt your credit scores if you’re more than 30 days late.
Which should you get?
- If you want a 0% intro period primarily for purchases: The Citi Simplicity® Card - No Late Fees Ever gives you more time to lock in the 0% introductory rate.
- If you want to transfer a balance: You’ll have to weigh the lower fee on the BankAmericard® credit card against the longer 0% intro period on the Citi Simplicity® Card - No Late Fees Ever. If you’re confident you can pay off your transferred debt in less than 15 months, then the BankAmericard® credit card is the easy choice. Otherwise, use the calculator below to estimate your costs with both cards.