The Citi Simplicity Credit Card Review 2024
A Friendly and In-Depth Look at the Citi Simplicity Credit Card
The Citi Simplicity® Credit Card is designed for consumers who want to manage their debt efficiently. With no annual fee, no late fees, and no penalty APR, it offers an attractive package for those looking to take advantage of long-term balance transfer options and zero-percent introductory APR on purchases.
Quick Facts
- 0% intro APR on balance transfers: 21 months
- 0% intro APR on purchases: 12 months
- Regular APR: 19.24% – 29.99% (Variable)
- Annual Fee: $0
- Balance Transfer Fee: $5 or 3% of the transfer amount (within 4 months), then $5 or 5%
- Foreign Transaction Fee: 3%
Key Features
0% Introductory Rates
The Citi Simplicity® Card offers a 0% intro APR for 21 months on balance transfers from the date of the first transfer and 0% intro APR for 12 months on purchases from the date of account opening. After the introductory periods, the variable APR ranges from 19.24% to 29.99%, depending on your creditworthiness.
Table: Introductory Rates Comparison
| Feature | Citi Simplicity | Chase Freedom Flex | Amex EveryDay | Wells Fargo Reflect |
|---|---|---|---|---|
| Balance Transfer Intro APR | 0% for 21 months | 0% for 15 months | 0% for 15 months | 0% for 21 months |
| Purchase Intro APR | 0% for 12 months | 0% for 15 months | 0% for 15 months | 0% for 21 months |
| Variable APR | 19.24%-29.99% | 20.49%-29.24% | 18.24%-29.24% | 18.24%-29.99% |
| Annual Fee | $0 | $0 | $0 | $0 |
Benefits and Perks
No Late Fees or Penalty APR
With the Citi Simplicity® Card, you’ll never have to worry about late fees or penalty APR. This feature is particularly useful for those who might occasionally miss a payment due date.
Choose Your Due Date
Flexibility in choosing your payment due date helps manage cash flow better, ensuring you can plan your finances around your schedule.
Digital Wallet Integration
The card supports digital wallets, allowing you to store it on your mobile device and make payments online, in stores, or within apps seamlessly.
Additional Benefits
- Mastercard ID Theft Protection: Access to identity theft monitoring and resolution specialists.
- 24/7 Customer Service: Live help from customer service agents anytime.
- Automatic Account Alerts: Stay informed with balance alerts, payment reminders, and credit limit updates via email or mobile phone.
Fine Print
Interest Rates
- Regular APR: 19.24% – 29.99% (Variable)
- Purchase Intro APR: 0% for 12 months
- Balance Transfer Intro APR: 0% for 21 months
Fees
- Annual Fee: $0
- Intro Balance Transfer Fee: $5 or 3% of the amount of each transfer within 4 months of account opening, whichever is greater.
- Regular Balance Transfer Fee: 5% of the amount of each transfer; $5 minimum.
- Foreign Transaction Fee: 3% of the amount of each purchase.
Citi Simplicity vs. Other Cards
Citi Simplicity® Card* vs. Chase Freedom Flex℠
The Chase Freedom Flex offers an impressive 5% cash back on rotating categories and travel purchased through Chase, plus 3% back on dining and drugstores. It also has a 0% intro APR for 15 months on purchases and balance transfers, making it a strong contender for those who want rewards and a balance transfer option.
Citi Simplicity® Card* vs. Amex EveryDay® Credit Card*
The Amex EveryDay card offers 2 Membership Rewards points per dollar at US supermarkets and for travel booked through American Express, plus a welcome bonus. It also features a 0% intro APR for 15 months on purchases and balance transfers. However, it has a balance transfer fee of $5 or 3%, whichever is greater, and lacks the long 21-month balance transfer period of the Citi Simplicity card.
Citi Simplicity® Card* vs. Wells Fargo Reflect® Card
The Wells Fargo Reflect Card also offers a 0% intro APR for 21 months on purchases and qualifying balance transfers with a variable APR of 18.24%, 24.74%, or 29.99% after the intro period. It comes with up to $600 of cellphone protection if you pay your bill with the card, a unique benefit among these options.
Benefits and Drawbacks
Benefits
- Long 0% Intro APR Period on Balance Transfers: One of the longest periods available, allowing significant time to pay down balances without accruing interest.
- No Penalties for Late Payments: No late fees and no penalty APR, providing peace of mind if you miss a payment.
Drawbacks
- No Rewards or Sign-Up Bonus: This card is strictly for debt management, with no rewards program or introductory bonus.
- Limited Long-Term Value: Once the 0% intro APR period ends, there isn’t much incentive to keep using this card unless you need its flexible payment features.
FAQ Section
What is the Citi Simplicity Credit Card best for?
Answer: The Citi Simplicity Credit Card is best for consumers looking to manage and pay down existing debt, thanks to its long 0% intro APR periods on balance transfers and purchases.
Are there any rewards programs with the Citi Simplicity Card?
Answer: No, the Citi Simplicity Card does not offer any rewards programs or sign-up bonuses. It is designed purely for debt management.
What happens if I make a late payment?
Answer: With the Citi Simplicity Card, you will not incur a late fee or penalty APR if you miss a payment. However, it’s still important to pay on time to avoid interest charges and protect your credit score.
Can I use the Citi Simplicity Card for foreign purchases?
Answer: Yes, but be aware that there is a foreign transaction fee of 3% on the amount of each purchase made outside the United States.
How does the Citi Simplicity Card compare to other balance transfer cards?
Answer: The Citi Simplicity Card offers one of the longest 0% intro APR periods for balance transfers (21 months) compared to other cards like the Chase Freedom Flex and Amex EveryDay, which offer 15 months.
The Citi Simplicity® Card is a solid choice for those who need a straightforward solution for managing debt. With no annual fee, no late fees, and a lengthy 0% intro APR period on balance transfers and purchases, it provides a reliable way to reduce financial stress and pay down balances effectively. However, for those seeking rewards or long-term value, other options like the Chase Freedom Flex or Amex EveryDay may be more suitable. Ultimately, the Citi Simplicity Card excels as a no-frills tool for debt management.
