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Citi Simplicity: 3 Reasons We Love It

Jan. 12, 2015
Credit Cards, Low Interest and No Fee Credit Cards
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If you have good credit and are looking for a stellar 0% intro APR offer, the Citi Simplicity® Card - No Late Fees Ever delivers in a big way. Here are three reasons why NerdWallet has long recommended this card for those looking to save on interest.

1. There’s a long 0% intro period

The headline feature of the Citi Simplicity® Card - No Late Fees Ever is its super-long introductory interest-free period for balance transfers. You’ll get 0% on Balance Transfers for 21 months and 0% on Purchases for 12 months, and then the ongoing APR of 16.24% - 26.24% Variable APR.

We think this makes the Citi Simplicity® Card - No Late Fees Ever a good card for financing a large purchase you don’t have the cash to pay for upfront. You’ll have a year to eliminate the balance before it starts collecting interest. It’s also a decent choice for balance transfers, although you will have to pay a balance transfer fee of 5% or $5, whichever is greater.

» MORE:  NerdWallet’s best balance transfer credit cards .

2. You’ll never have to worry about late fees

The Citi Simplicity® Card - No Late Fees Ever doesn’t charge late fees, and it doesn’t impose penalty APRs for missed payments. For forgetful folks, this could amount to serious savings.

For example, say you pay your credit card bill late every four months or so. If your issuer charges a $35 fee per tardy payment, that amounts to $105 in fees annually. Over five years? A whopping $525. That’s a lot of money to shell out, and it could be easily avoided by choosing the Citi Simplicity® Card - No Late Fees Ever.

That said, paying late is a bad habit to develop. Other creditors won’t be as forgiving, and if payments are late enough, it could end up hurting your credit score.

3. The annual fee can’t be beat: $0

The whole point of using a 0% promotion for a balance transfer or to finance a large purchase is to save money on interest. But that savings is compromised if the card you sign up for carries an annual fee. This isn’t a concern with the Citi Simplicity® Card - No Late Fees Ever. Its annual fee is $0, so you won’t have to spend more money to save money.