Citi Simplicity® Card Review 2024: Features, Benefits and Rates

The Citi Simplicity® Card is designed for those who prioritize simplicity and straightforwardness in a credit card. With no annual fee, no late fees, and a generous introductory offer, the Citi Simplicity® Card has gained popularity among consumers looking for an easy-to-manage credit card with essential benefits. In this detailed review, we’ll explore the card’s features, benefits, and potential drawbacks to help you decide if it’s the right choice for your financial needs.

Quick Highlights

• No late fees, penalty rates, or annual fees.
• 0% intro APR for 21 months on balance transfers and 12 months on purchases.
• Variable APR of 19.24%–29.99% applies after the intro period.
• Balance transfers must be completed within 4 months of opening the account.
• Introductory balance transfer fee of $5 or 3% of the transfer amount (whichever is greater).
• You are secured from fraud protection with Citi Quick Lock.

What is the Citi Simplicity® Card?

The Citi Simplicity® Card is a balance transfer and cash rewards credit card that aims to offer an uncomplicated, transparent experience for cardholders. This card stands out for its no annual fee, introductory 0% APR on balance transfers and purchases, and lack of late payment fees. Whether you want to pay off existing debt, make a large purchase, or simply earn rewards, this card offers a range of features with minimal hassle.

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Rewards and Key Benefits of the Citi Simplicity® Card

The Citi Simplicity® Card is designed with simplicity and flexibility in mind, offering several features that may appeal to consumers who want to avoid hidden fees and manage their finances easily.

Rewards

• The card offers no rewards 

Key Benefits

1. 0% Introductory APR on Purchases and Balance Transfers

One of the most attractive features of the Citi Simplicity® Card is its 0% introductory APR on both purchases and balance transfers for the first 21 months from account opening. This offer allows cardholders to make purchases or transfer existing credit card debt without paying interest for an extended period.

• 21 months of 0% APR on purchases.
• 21 months of 0% APR on balance transfers (after a balance transfer fee of 5%, min. $5).
• After the intro period, a variable APR of 19.24% – 29.99% applies.

This extended 0% APR period is perfect for individuals looking to pay off existing credit card debt or make larger purchases without worrying about accumulating interest.

2. No Late Fees or Penalty APR

Unlike many other credit cards, the Citi Simplicity® Card does not charge late fees, even if you miss a payment. It also avoids increasing your APR in case of late payments. This feature can be a relief for those who occasionally miss deadlines or need a little extra flexibility when it comes to managing payments.

3. No Annual Fee

The Citi Simplicity® Card has no annual fee, which makes it an affordable option for those looking to avoid additional charges for simply having the card. This feature is especially beneficial for individuals who want a straightforward credit card with no hidden fees.

4. Balance Transfer Options

In addition to the introductory 0% APR offer, the Citi Simplicity® Card allows you to transfer balances from other credit cards or loans. This can be a great way to consolidate high-interest debt and make it more manageable. However, it’s important to note that a balance transfer fee of 5% (minimum $5) will apply, which is a standard fee among many credit cards.

5. $0 Liability on Unauthorized Charges

Citi protects you from fraudulent charges on your card, so you won’t be responsible for unauthorized purchases you didn’t make.

6. Citi Quick Lock

Temporarily freeze your card if you lose it or suspect fraud, allowing you to reactivate it once you’ve confirmed its safety.

Rates And Fee

• Intro Purchase APR: 0% for 12 months on Purchases
• Regular APR: 19.24% – 29.99% (Variable)
• Intro Balance Transfers APR: 0% for 21 months on Balance Transfers
• APR for Cash Advances: 29.99%
• Annual Fee: No Annual Fee
• Minimum Interest Charge: If you are charged interest, the charge will be no less than 50 cents.
• Balance Transfer:  $5 or 3% of the amount of each transfer, whichever is greater, is the introductory fee for transfers made within 4 months of account opening. After that, your fee will be either $5 or 5% of the amount of each transfer, whichever is greater.
• Cash Advance: Either $10 or 5% of the amount of each cash advance, whichever is greater.
• Foreign Purchase Transaction Fee: 3% of each purchase transaction in U.S. dollars.
• Returned Payment: Up to $41

(See rates and fee)

Is the Citi Simplicity Card Right for You?

Here’s who might benefit from the Citi Simplicity Card:

• Balance Transfers: If you have existing high-interest credit card debt, the 0% introductory APR for balance transfers can help you pay down your balance without accruing interest for up to 21 months.
• Large Purchases: If you need to make a big purchase, you can use the 0% APR on purchases to pay it off over time without worrying about high-interest charges.
• Debt consolidators: The long intro period on balance transfers allows you to pay down existing debt without accruing interest for a significant period.
• Budget-conscious spenders: The no annual fee, no late fees, and no penalty APR structure keeps additional costs to a minimum.
• Those seeking simplicity: The card focuses on straightforward features without the bells and whistles of reward programs, making it easy to manage.

However, the Citi Simplicity Card may not be ideal for:

• Rewards Enthusiasts: The card doesn’t offer cashback, travel points, or other reward programs.
• Frequent Travelers: Foreign transaction fees can increase for those who travel internationally often.
• Those Who Need Comprehensive Protection: Compared to some cards, the Citi Simplicity offers limited insurance and protection features.

The Citi Simplicity Card depends on your needs and priorities. Consider your spending habits, travel frequency, and desire for rewards programs before deciding. Remember to compare different credit card options to find the one that best suits your unique financial situation.

Citi Simplicity® Card Downsides

While the Citi Simplicity® Card has many benefits, it’s not for everyone. Here are a few potential drawbacks:

• Balance Transfer Fee: The 5% balance transfer fee can add up, especially for larger balances. It’s important to calculate if the savings on interest outweigh this fee.
• No Rewards Program: The Citi Simplicity® Card does not offer rewards on purchases. If you’re looking for cashback or travel rewards, this may not be the card for you.
• Standard APR After Intro Period: After the 21-month intro period, the APR jumps to 19.24% – 29.99%, which is relatively high if you still have an outstanding balance.

How to Use the Citi Simplicity Card?

The Citi Simplicity® Card is ideal for individuals who want to simplify their finances. Below are some tips on how to make the most out of this card:

1. Strategize Balance Transfers

Move your high-interest debts to the card within the first 4 months to benefit from the 0% intro APR on balance transfers. Although balance transfers can save you money on interest, remember that the balance transfer fee of 5% (min. $5) can add up, especially if you’re transferring a large balance. Compare this fee to the interest savings to ensure it’s worth transferring your balance.

2. Make Payments on Time

Even though there are no late fees, it’s still a good idea to pay your bill on time to avoid interest charges once the 0% APR period ends. Late payments could negatively affect your credit score, which can impact future loan or credit card applications. So, create a plan to pay off your transferred balance within the 21-month intro period to avoid accruing interest after that. Remember, the standard APR is variable and can be high.

3. Pay Off Debt During the 0% APR Period

If you have existing credit card debt, use the 0% APR on balance transfers to pay off your debt without accruing interest. Make sure to pay as much as possible during the 21-month introductory period to maximize the benefit of not paying interest. This strategy can help you become debt-free faster.

4. Prioritize Responsible Spending

Only use the card for new purchases you can confidently pay off within 12 months, avoiding any potential accrual of interest.

5. Explore Citi Easy Deals (Optional)

Consider signing up for this program to potentially obtain discounts on specific purchases using your Citi Simplicity card

1. Citi Simplicity® Card vs. Discover it® Balance Transfer

The Discover it® Balance Transfer card is another popular choice for consumers looking to consolidate debt with a balance transfer card.

Citi Simplicity® Card

• 0% Intro APR for 21 months on balance transfers and purchases.
• Balance Transfer Fee: 5% of the amount transferred (min. $5).
• No Annual Fee.
• No Late Fees or Penalty APR.
• Ongoing APR: 19.24% – 29.99% variable after the intro period.

Discover it® Balance Transfer:

• 0% Intro APR: for 15 months on balance transfers (6 months on purchases).
• Balance Transfer Fee: 3% until February 10, 2025 (then 5%).
• Cashback Rewards: 5% cashback on all purchases, and 5% in rotating categories (on up to $1,500 each quarter, activation required).
• No Annual Fee.
• Ongoing APR: 18.74% – 27.74% variable after the intro period.

Comparison:

The Citi Simplicity® Card offers a longer 0% APR period on both balance transfers and purchases, making it a better option if you plan to make purchases or need more time for a balance transfer.

Discover it® Balance Transfer has a lower balance transfer fee (3% until February 10, 2025), which can make it a more affordable option for transferring a balance in the first few months. Additionally, it offers cashback rewards, which the Citi Simplicity® Card doesn’t provide.

However, Discover it® offers a shorter introductory APR period on purchases (only 15 months), which is not ideal for large purchase financing.

2. Citi Simplicity® Card vs. Wells Fargo Reflect® Card

The Wells Fargo Reflect® Card is another strong competitor for balance transfers, especially with its extended intro period.

Wells Fargo Reflect® Card:

• 0% Intro APR for 21 months on purchases and balance transfers.
• Balance Transfer Fee: 5% for each balance transfer.
• No Annual Fee.
• Cellphone Protection: Up to $600 of cell phone protection against damage or theft.
• Ongoing APR: 18.24% – 29.99% variable after the intro period.

Comparison:

Both cards offer the same 21-month 0% APR on balance transfers and purchases, making them very similar in terms of introductory offers.

The Wells Fargo Reflect® Card has a lower balance transfer fee (5% up to the second month of 2025), which makes it expensive for transfers in the early months. It also offers a $600 cash back for the sake of cellphone protection.

However, the Wells Fargo Reflect® Card has a higher ongoing APR (up to 29.9%) compared to the Citi Simplicity® Card, which could be important if you don’t manage to pay off your balance before the intro period ends.

3. Citi Simplicity® Card vs. BankAmericard® Credit Card

The BankAmericard® Credit Card is another balance transfer card offering competitive features.

• 0% Intro APR for 18 billing cycles on balance transfers.
• Balance Transfer Fee: 3% for up to 60 days, then 4% will apply.
• No Annual Fee.
• Ongoing APR: 15.74% – 25.74% variable after the intro period.

Comparison

The BankAmericard® Credit Card offer 0% introductory APR periods (for 18 months) while Citi Simplicity® offers 21 billing cycles, though the Citi Simplicity® Card offers 3 more months of interest-free payments.
The BankAmericard® Credit Card has a lower balance transfer fee (3% vs. Citi Simplicity®’s 5%), which can save you money if you are transferring a balance early on.
Both cards have no annual fee but the The BankAmericard® Card offer a less APR, making it perfect the payments.

Citi Simplicity Card Application and Approval Process

Eligibility

• You must be at least 18 years old.
• You must have a valid Social Security number, be a U.S. citizen, be a permanent resident, or have a valid visa.
• You will need to meet Citi’s creditworthiness criteria, which includes a good credit score.

Application Methods

You can apply for the Citi Simplicity Credit Card in three ways.

1. Online: The most convenient and fastest method is to apply for a Citi Simplicity Card, which can be found on Citi’s website.
2. Phone: Call Citi’s consumer line at 1-800-347-4934.
3. Branch: Visit your nearest Citi branch and submit a paper application form.

Application Information Required

• Personal information (name, address, phone number, date of birth)
• Social Security number
• Employment information (employer name, income)
• Housing information (rent or mortgage payment)

Approval Process

Once you submit your application, Citi will review your information and credit score to determine your eligibility. This process typically takes 7-10 business days, although you may sometimes receive an instant decision.

• Instant Approval: If approved, you will receive immediate notification and can expect to receive your card within 7-10 business days.
• Further Review: If your application requires further review, Citi may contact you for additional information or verification. This can extend the approval process by several days or weeks.
• Denial: Citi will inform you of the reason if your application is denied. You can request a copy of your credit report to understand the factors that led to the denial.

Final Verdict: Is the Citi Simplicity® Card Right for You?

The Citi Simplicity® Card is can be an excellent second credit card option for those looking for a simple, low-cost credit card with a long 0% APR period on balance transfers and purchases. It’s particularly beneficial for individuals who want to pay down existing debt without interest or make large purchases and pay them off over time. The lack of late fees and no annual fee make it an attractive choice for many.

However, if you’re looking for rewards or a lower APR after the introductory period, other cards may be a better fit. Overall, the Citi Simplicity® Card excels in offering simplicity and flexibility, making it a solid choice for individuals who want to avoid extra fees and manage their finances with ease.

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