If you need a bit of time to repay any revolving credit card debt, consider the Citi Simplicity® Card, which has a long intro offer on balance transfers.
The Citi Simplicity Card ranked on CNBC Select's list of the best balance transfer credit cards because it has one of the longest 0% intro APR periods out there. Below, we break down Citi Simplicity's rewards, benefits and fees to help you decide if it's the right card for you.
The Citi Simplicity® Card may not earn rewards, but it can still save you money due to its amazing intro-APR offers.
- One of the longest intro APR offers for balance transfers
- No annual fee
- No rewards
- No welcome bonus
Compare debt relief options
Welcome bonus
The Citi Simplicity Card has no welcome bonus offer.
Benefits and perks
For new cardmembers, the Citi Simplicity Card stands out for having one of the longest introductory periods for balance transfers at 0% intro APR for 21 months on balance transfers (after that, 17.49% - 28.24% variable APR) from the date of account opening.
New cardholders have four months to complete their balance transfer, which is longer than the typical 60 to 90 days. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
In addition to the balance transfer offer, the card can also help you benefit from no interest on purchases for 12 months from account opening.
Unlike a rewards credit card, the Citi Simplicity doesn't come with a ton of additional perks. Cardholders do have Citi Entertainment, which provides early access and special perks at music, theater, dining and sports events.
How to earn and redeem Citi rewards
The Citi Simplicity Card doesn't earn rewards of any type.
Rates and fees
Not only does the Citi Simplicity offer you a long time to pay off your debt, but there are never late fees if you miss a credit card payment — though we always recommend you pay your balance on time and in full to keep your credit score in tip-top shape. The card has no annual fees, but a 3% fee is charged on all foreign transactions.
Currently, you'll pay an introductory balance transfer fee of 3% of each transfer (minimum $5) completed within the first four months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Card comparison
Citi Simplicity Card vs. Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card can help you save on interest charges thanks to its extra generous intro-APR offer on purchases and qualifying balance transfers.
- Best-in-class intro-APR for purchases and qualifying balance transfers
- No annual fee
- Cell phone insurance: up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible
- No rewards
- No welcome bonus
- High balance transfer fee
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.49%, 23.99%, or 28.24% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
- $0 annual fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
Balance transfer fee
5%, min: $5
Foreign transaction fee
3%
The Wells Fargo Reflect® Card is very similar to the Citi Simplicity. It offers the same length intro offer on qualifying balance transfers, but this offer applies to purchases as well. The Wells Fargo Reflect has a higher balance transfer fee of 5% of each transfer with a $5 minimum, compared to the Citi Simplicity's 3% intro balance transfer fee, but it offers a much longer intro-APR for purchases.
Neither card offers rewards or many other benefits, so if you need to finance a large purchase, the Reflect Card is likely to be the better option.
Citi Simplicity Card vs. Citi Double Cash® Card
The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- No annual fee
- Travelers face a foreign transaction fee
- Intro APR only applies to balance tranfer
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- 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).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
The Citi Double Cash® Card is one of the top cash-back credit cards and it offers a solid intro APR on balance transfers. Citi Double Cash users get an unlimited 2% back on every purchase: 1% when they buy and 1% when they pay.
This card has an 18-month offer on balance transfers. There's an intro balance transfer fee of 3% of each transfer ($5 minimum) for transfers you complete in the first four months. After that, the balance transfer fee increases to 5% of each transfer ($5 minimum). While the Citi Double Cash doesn't offer an intro APR on purchases and its balance transfer offer is three months shorter than what's available with the Citi Simplicity, it earns rewards.
Getting at least 2% cash back on all spending is an amazing return for all sorts of purchases. When you factor in the opportunity to earn cash back, the Double Cash will work out for some people in the long run.
Is the Citi Simplicity Card right for you?
The Citi Simplicity offers exactly that: simplicity. It's no penalty rate, no late fees and no annual fee allows you to focus solely on paying down your debt during the intro-APR period.
If you're working your way out of credit card debt, it's hard to beat the Citi Simplicity. Its intro offer for balance transfers is top-tier and it also provides an intro-APR time frame for purchases. However, this card doesn't offer rewards or any significant benefits outside of its no-interest offer. So, once you've paid off your debt, you'll want to start looking at more valuable rewards credit cards.
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