Citi Simplicity® Card Full Review: Should You Get It?

The Citi Simplicity® Card is designed to address a specific financial concern: avoiding interest charges. If you’re looking for a credit card that offers an extended period of 0% intro APR, fee waivers, and a straightforward approach to managing your finances, read on to determine if this card is the right choice for you:

Key Features of the Citi Simplicity® Card

• Credit Score Requirement: Good/excellent (670-850).
• Annual Fee: $0.
• Regular APR:
  • 0% intro APR for the first 21 months for balance transfers (from the date of the first transfer).
  • 0% intro APR for 12 months on purchases (from account opening).
  • After the introductory periods, a variable APR ranging from 16.99% to 27.74%, depending on your creditworthiness, will apply.

Benefits of the Citi Simplicity® Card

1. Extended 0% APR Period: This card offers an impressive 0% intro APR for 21 months on balance transfers and 12 months on purchases. This makes it an excellent choice if you want to consolidate debts or make significant purchases without incurring interest charges.
2. No Annual Fee: You won’t have to worry about annual fees, which helps keep your cost of ownership low.
3. Late Fee and Penalty APR Waiver: The Citi Simplicity® Card eliminates late fees and penalty APRs, providing peace of mind if you occasionally miss payment due dates.
4. Unauthorized Purchase Protection: This card offers a robust unauthorized purchase protection service, ensuring you won’t be held responsible for unrecognized transactions.
5. Flexible Payment Due Date: You can choose the due date that works best for you—whether it’s at the beginning, middle, or end of the month.
6. Mastercard Acceptance: As a Mastercard, this credit card is widely accepted both in the United States and internationally.

Drawbacks of the Citi Simplicity® Card

1. No Rewards Program: The card doesn’t offer a rewards program, so you won’t earn cashback, points, or miles on your spending.
2. No Welcome Bonus: There’s no introductory bonus, which means you won’t receive extra rewards or cash for signing up.
3. Post-Introductory APR Rates: After the 0% APR introductory periods end, the card’s APR rates are not particularly competitive, falling within the market average. It’s essential to consider your long-term interest costs.
4. Balance Transfer Fee: While the card provides a lengthy 0% APR period for balance transfers, it charges a balance transfer fee of 5% or $5, whichever is greater. On a $5,000 balance transfer, for instance, the fee would be $250.

Credit Score Requirements: To increase your chances of approval for the Citi Simplicity® Card, it’s advisable to have a good or excellent credit score, typically above 670.

Application Process: You can apply for the Citi Simplicity® Card online from the comfort of your home. The application process is straightforward, and you can find step-by-step instructions in the provided post.

In summary, the Citi Simplicity® Card is an excellent choice if you need an extended 0% APR period for balance transfers or significant purchases, and you want to avoid annual fees, late fees, and penalty APRs.

However, it may not be the best option if you’re seeking rewards or plan to carry a balance beyond the introductory periods due to its post-introductory APR rates. Consider your financial goals and spending habits to determine if this card aligns with your needs.