A former champion among balance transfer cards reigns once more. On Oct. 11, 2018, the intro 0% APR period for balance transfers on the Citi Simplicity® Card - No Late Fees Ever was extended to 21 months from 18 months.
This means the card reclaims its spot as one of the better options for those seeking a super-long interest-free period on transferred balances.
Key features of the Citi Simplicity® Card - No Late Fees Ever include:
- An introductory APR offer of: 0% on Purchases for 12 months and 0% on Balance Transfers for 21 months, and then the ongoing APR of 16.74% - 26.74% Variable APR.
- A balance transfer fee of 5% of the amount being transferred or $5, whichever is greater.
- An annual fee of $0.
- No late fees or penalty APR if you miss or skip a payment.
We’ve been here before
If the current balance transfer offer on the Citi Simplicity® Card - No Late Fees Ever sounds familiar, that’s because the issuer has offered it before. But in January 2018, it trimmed those balance transfer terms by three months.
The card’s current terms on balance transfers and purchases are likely intended to mirror what used to be offered on the Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer, which stopped taking new applications the same day the Citi Simplicity® Card - No Late Fees Ever changed its introductory offers.
But the Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer wasn’t as forgiving with late payments, making the Citi Simplicity® Card - No Late Fees Ever a better choice for anyone who thinks they might occasionally miss a payment due date.
Shorter window on purchases
If you were eyeing the Citi Simplicity® Card - No Late Fees Ever as a potential option for making a big purchase, you may be better off with another card offering a longer 0% intro APR on purchases. Although the balance transfer offer was extended, the length of time at 0% on purchases shrank by six months. If you’re looking for the longest time possible to pay off a big purchase, other cards on the market have 0% intro APR offers on purchases ranging from 15 to 20 months.