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One of the best balance-transfer offers on the market just got a little less attractive.
Citi has reduced the 0% introductory APR period on the Citi Simplicity® Card - No Late Fees Ever. As of January 2018, the card offers 18 months of 0% for purchases and balance transfers. That’s three months less than the card’s previous offer.
Don’t get us wrong: The Citi Simplicity® Card - No Late Fees Ever remains a forgiving card. It still charges no late fees or penalty interest rates, a helpful feature if you’re the forgetful type, as your APR won’t shoot up should you fall behind on payments (although we suggest not making that a habit, as it could still hurt your credit scores). And the card’s annual fee remains $0.
Still, the reduction in the promotional APR period means the Citi Simplicity® Card - No Late Fees Ever now has serious competition in the field of best cards for balance transfers — and one of them happens to be a sister card: the Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer, which offers 21 months of 0% for transfers and 12 months for purchases.
Note, however, that the Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer doesn’t have the same late-payment forgiveness features as the Citi Simplicity® Card - No Late Fees Ever, and also that its 0% intro APR offer on purchases isn’t as long. Also, both cards charge a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater. On that count, too, you may find options that work better for you.
Your primary concern with balance transfer credit cards is paying down debt, and in that respect the Citi Simplicity® Card - No Late Fees Ever is still a worthy and merciful card. But it’s no longer an undisputed king, so make sure you explore your options.