Citi Simplicity Review: 21 Months of 0% to Whittle Down Debt
The Bottom Line
4.5
While this card can save you money on interest and penalties, you can earn rewards with other cards having similar balance transfer terms.
Rates, fees and offers
Rates, fees and offers
Annual fee
$0
Rewards rate
N/A
Bonus offer
N/A
Intro APR
0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months
Ongoing APR
APR: 18.24%-28.99% Variable APR
Cash Advance APR: 29.49%, Variable
Balance transfer fee
3% of each transfer (minimum $5) completed within the first 4 months of account opening, then 5% of each balance transfer; $5 minimum.
Foreign transaction fee
3%
More details from Citibank
More details from Citibank
- No Late Fees, No Penalty Rate, and No Annual Fee... Ever
- 0% Intro APR on balance transfers for 21 months and on purchases for 12 months from date of account opening. After that the variable APR will be 18.24% - 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Stay protected with Citi® Quick Lock
Pros and Cons
Pros
No annual fee
Intro APR period
Cons
No rewards
No new cardholder bonus offer
Requires good/excellent credit
Detailed Review
The Citi Simplicity® Card can help you pay down debt or finance a large purchase, although it may not the best option for either.
Its standout feature is a lengthy 0% intro APR period for balance transfers. That could make it a good choice for tackling existing debt, but this card earns no rewards. Plus, the fee you’ll pay to transfer a balance onto the card will eat into the money you’ll save on interest.
Still, the Citi Simplicity® Card may be a fit for the chronically forgetful. If you miss a payment, there is no late fee or penalty APR. (NerdWallet recommends always paying on time, however, as late payments can still affect your credit scores.)
Citi Simplicity® Card: Benefits
Card type: Balance transfer.
Annual fee: $0.
APR: 0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months, and then the ongoing APR of 18.24%-28.99% Variable APR.
Sign-up bonus: N/A.
Rewards: None.
Balance transfer fee: 3% of the amount of each transfer (minimum $5) for balance transfers completed within the first four months. After that it is 5% of the amount of each transfer (minimum $5).
Foreign transaction fee: 3% per transaction.
Other perks:
No late fees.
No penalty APR for late payments.
The option to choose your payment due date.
Compare to Other Cards
Benefits and Perks
A long 0% intro APR period for balance transfers
The Citi Simplicity® Card offers a 0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months, and then the ongoing APR of 18.24%-28.99% Variable APR. You'd be hard-pressed to find a card with a longer 0% into period on balance transfers.
No penalties for late payments
With this card, you'll never be charged a late fee, and your interest won't go up because of late payments. Yes, you should always strive to pay your bills on time every month, and yes, paying late is a terrible habit: Most accounts aren't as forgiving as this card, and your credit scores can still suffer if you pay too late. But sometimes you may forget or get overwhelmed; if you do, this card can save your bacon.
You can choose your due date
If money is tight, being able to pick exactly when your payment is due can help you avoid overdrafts.
MORE NERDY PERSPECTIVES
 | One of the best get-out-of-debt balance transfer credit cards on the market, and I should know; I used it to do just that. Just don't expect it to do much else for you once you've paid off that balance. (Instead, ask Citi if you can then product-change to one of their rewards-earning credit cards.) Kenley Young, editor, credit cards |
 | If you're getting this card for a balance transfer, make sure to do the transfer in the first four months to take advantage of the introductory transfer fee of 3% (minimum fee $5). After four months, the fee jumps to 5% (again, with a $5 minimum). Jae Bratton, writer, credit cards |
Drawbacks and Considerations
No rewards or sign-up bonus
This card's value lies in its 0% introductory APR period and its forgiving nature. If you want rewards, look elsewhere.
Limited long-term value
Once the 0% intro APR period ends, there isn't much incentive to keep using this card. The ongoing APR range is about average and, again, the card offers no rewards.
Short 0% intro period on new purchases
Even though the Citi Simplicity® Card has a best-in-class 0% APR intro period on balance transfers, you'll only get a reprieve from interest on new purchases for a year. Other cards offer long 0% intro APR periods on both balance transfers and new purchases.
Citi Simplicity® Card: Alternatives
For rewards: Chase Freedom Flex®
The Chase Freedom Flex® has a shorter intro APR on balance transfers: 0% intro APR on purchases and Balance Transfers for 15 months, and then the ongoing APR of 18.99%-28.49% Variable APR. But in exchange, this card has a longer intro APR on new purchases, plus ongoing value long after the intro APR ends. You'll earn 5% cash back on rotating categories on up to $1,500 in purchases each quarter (requires activation), plus 3% back on dining and drugstore purchases and 5% back on travel purchased through Chase. All other purchases earn 1% back.
For a lengthy 0% intro APR period on new purchases: Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card charges a 5% fee for transfers (minimum $5). New cardholders get a lengthy introductory APR: 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers, and then the ongoing APR of 17.24%, 23.74%, or 28.99% Variable APR. And the annual fee is $0. It doesn't feature late-payment forgiveness, but if you're the type who always pays on time, you won't miss it. However, as with the Citi Simplicity® Card, you won't earn rewards.
How To Decide If It's Right For You
The Citi Simplicity® Card is palatable if you need a long time to pay off existing debt or if you sometimes struggle to remember your bill's due date. It can save you money on interest and penalties. But as with most balance transfer cards, you’ll have to weigh the true cost to you, including the balance transfer fee.
And if you're looking for a card to help you finance a large expense upfront, you have plenty of similar options, including some cards that also offer rewards — and occasionally even a sign-up bonus.
Looking for other options? NerdWallet can help you compare and determine the best credit card to get based on your needs.
This card offers a 0% intro APR on balance transfers for 18 months, and then the ongoing APR of 18.24%-28.24% Variable APR. Plus, it also gives you 2% cash back on every purchase: 1% when you buy something and 1% when you pay it off. The annual fee is $0.
Looking For Something Else?
Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
Frequently asked questions
Does the Citi Simplicity offer rewards?
Does the Citi Simplicity offer rewards?
The Citi Simplicity® Card doesn't have rewards. Its value lies mostly in its long 0% introductory APR period for purchases and balance transfers, which make the card a good option for paying down debt. Additionally, as the card's promotional name makes clear, it never charges fees or penalty APRs for late payments.
Is the Citi Simplicity easy to get?
Is the Citi Simplicity easy to get?
You’ll need good to excellent credit to qualify for the Citi Simplicity® Card. That's typically defined as a credit score of 690 or better. Issuers will also consider other factors, such as your income and debts, when evaluating your application.
Is the Citi Simplicity a good credit card?
Is the Citi Simplicity a good credit card?
The Citi Simplicity® Card is a good option for paying down debt without interest, but beyond the 0% introductory APR period, it may not provide much long-term value. After that period, you could explore switching your account to a different Citi card. Or you could look for a zero-percent card or balance transfer card that also offers rewards.
How much is the Citi Simplicity balance transfer fee?
How much is the Citi Simplicity balance transfer fee?
The Citi Simplicity® Card charges a balance transfer fee of $5 or 3% (whichever is greater) for the first 4 months after opening the card. After that, it's $5 or 5% of the amount transferred, whichever is greater.
Does the Citi Simplicity have an annual fee?
Does the Citi Simplicity have an annual fee?
No. The annual fee is $0.
Is the Citi Simplicity a Visa or a Mastercard?
Is the Citi Simplicity a Visa or a Mastercard?
The Citi Simplicity® Card is a Mastercard.
About the authors
Erin El Issa
Senior Writer & Content StrategistMelissa Lambarena
Senior Writer & Content Strategist
