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Citi Simplicity Card Offers 0% Interest, No Late Fees and No Penalty APR

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Citi Simplicity Card Offers 0% Interest, No Late Fees and No Penalty APR

Citi Simplicity® Card - No Late Fees Ever: Quick review

The Citi Simplicity® Card - No Late Fees Ever gives you a lot by taking next to nothing. It offers an industry-leading introductory 0% APR period on both purchases and balance transfers, and it has an annual fee of $0. For those who occasionally fall behind on their paperwork, it charges no late fees and no penalty APR. (Even so, make a habit of paying on time.)


Citi Simplicity® Card - No Late Fees Ever Editor's Rating: 4.1 / 5

As the reigning king of 0% credit cards, the Citi Simplicity® Card - No Late Fees Ever boasts an industry-leading 0% introductory APR period, as well as no late fees or penalty APR if you miss a payment. Whether you’re looking to get rid of existing debt or make a big purchase that you can take your time paying off, this card is a solid option.

Citi Simplicity® Card - No Late Fees Ever

Citi Simplicity® Card - No Late Fees Ever

Apply Now on Citibank's secure site
  • Recommended Credit Score
  • 690
    850
    Good - Excellent
  • Card Details
  • Pros

    • No late fee
    • No annual fee
    • 0% on Purchases and Balance Transfers for 21 months

    Cons

    • No rewards

    Annual Fees

    $0

    APR

    • APR: 14.99% - 24.99% Variable APR

    Bonus Offers

    None

    Intro APR

    • 0% on Purchases and Balance Transfers for 21 months
  • Additional Information
    • The ONLY card with No Late Fees, No Penalty Rate, and No Annual Fee…EVER
    • 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 14.99% - 24.99% based on your creditworthiness*
    • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
    • The same great rate for all balances, after the introductory period
    • Save time when you call with fast, personal help, 24 hours a day – just say “representative”
    • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month

At a glance
Annual fees $0
Introductory APR 0% on Purchases and Balance Transfers for 21 months, and then the ongoing APR of 14.99% - 24.99% Variable APR
Balance transfer fee 3% or $5, whichever’s greater
Rewards program None
Verdict: If you need to make a large purchase and need some time to pay it off, this is a great card
Good for:
  • Someone who wants a long APR on purchases or balance transfers
  • Someone who occasionally makes late payments
Bad for:
  • Someone who doesn’t want to pay a balance transfer fee
  • Someone who wants rewards

In this article:

Citi Simplicity® Card - No Late Fees Ever: The basics
Where the Citi Simplicity® Card - No Late Fees Ever shines
Where the Citi Simplicity® Card - No Late Fees Ever falls short
Should I get the Citi Simplicity® Card - No Late Fees Ever?

Citi Simplicity® Card - No Late Fees Ever: The basics

The Citi Simplicity® Card - No Late Fees Ever lives up to its name with a simple value proposition: An extra long 0% introductory APR and no fee or rate penalties on late payments, ever. You’ll enjoy an APR of 0% on Purchases and Balance Transfers for 21 months, and then the ongoing APR of 14.99% - 24.99% Variable APR — giving you time to pay off existing debt or new purchases. And if you accidentally miss a payment (or three), you won’t be hit with a late payment fee or a penalty APR increase.

Nerd note: While the Citi Simplicity® Card - No Late Fees Ever won’t penalize you for late payments with fees or rate hikes, you should always aim to make payments on time. First, it’s a good habit to have, especially because most of your other lenders and creditors probably aren’t so forgiving. Also, your late payment may eventually be reported to the credit bureaus if you fail to pay within about 30 days.

Where the Citi Simplicity® Card - No Late Fees Ever shines

The Citi Simplicity® Card - No Late Fees Ever is ideal for two groups of people: Those who need a long time to pay off their initial purchases, and those who make late payments.

For the first group, the card’s industry-leading introductory APR period is an average of six to nine months longer than most cards with 0% introductory APRs.

For the second group, if you happen to make a payment late, you won’t see an increase in APR or a late payment fee. Many cards waive your first late payment fee and then charge you around $35 for each late payment after that. So if you frequently forget to make payments, the Citi Simplicity® Card - No Late Fees Ever could potentially save you a lot of money.

While the Nerds encourage you to pay off your balance in full each month to avoid interest, for people who do carry balances, a penalty APR could cost them.

Where the Citi Simplicity® Card - No Late Fees Ever falls short

The Citi Simplicity® Card - No Late Fees Ever is not a perfect card for everyone. Rewards junkies and folks with credit card debt should look elsewhere.

Better for balance transfers: BankAmericard® Credit Card

While the Citi Simplicity® Card - No Late Fees Ever does have a balance transfer option and a long 0% transfer APR, the BankAmericard® credit card is a better option for this purpose. It charges no balance transfer fee during the first 60 days and has an annual fee of $0, along with a long introductory APR: 0% on Purchases for 15 billing cycles and 0% on Balance Transfers for 15 billing cycles for balance transfers made in the first 60 days (This offer is no longer valid on our site), and then the ongoing APR of 12.99% - 22.99% Variable APR. Even if you keep your debt longer than 15 months, you’ll likely come out on top with the BankAmericard® credit card.

Nerd note: Say you’re going to transfer a debt of $5,000, and you plan to pay $240 a month, which will eliminate the debt within 21 months. With the Citi Simplicity® Card - No Late Fees Ever, you wouldn’t pay any interest, but you’d pay a transfer fee of $150. With the BankAmericard® credit card, once the introductory rate expired, you’d begin accruing interest — but the total amount of interest you’d pay over the remaining months would be considerably less than $150. Even paying interest toward the end of a balance transfer is cheaper than the typical balance transfer fee.

Better for rewards: Citi® Double Cash Card – 18 month BT offer

When you’re using a credit card for a balance transfer or a long 0% APR, rewards shouldn’t be your main focus. Still, if you’re looking for a card with a respectable introductory APR period and high rewards, the Citi® Double Cash Card – 18 month BT offer is a great choice. It offers 1% cash back when you make purchases and another 1% back when you pay them off.

The Citi® Double Cash Card – 18 month BT offer has an annual fee of $0 and an introductory APR of 0% on Balance Transfers for 18 months, and then the ongoing APR of 14.49% - 24.49% Variable APR. So this amounts to a trade-off between the length of your introductory APR period and rewards.

Should I get the Citi Simplicity® Card - No Late Fees Ever?

If you’re planning to make a big purchase and need time to pay it off,  the Citi Simplicity® Card - No Late Fees Ever is an excellent option. It’s also great if you think you might be late on a few payments. For affordable balance transfers or a rewards card, check out the alternative cards above.

Last updated June 29, 2017. 

Erin El Issa is a staff writer covering personal finance for NerdWallet. Follow her on Twitter @Erin_Lindsay17 and on Google+.


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