Citi Simplicity makes credit card management easier for consumers. With no late fees and penalty rates, managing your bills is less complicated. Plus, with a lengthy introductory 0% interest rate, this is the ideal card for balance transfers. In exchange for no late fees, this card does not offer any sort of rewards program.
 | | - 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 12.99% - 21.99% based on your creditworthiness.
- Peace of mind through direct access to a service representative, no late fees and no penalty rate
- No annual fee*
| | | | Intro APR for Purchases | Intro APR for Balance Transfer | APR as low as | Annual Fee | 0% | 0% | 12.99% - 21.99% (Variable) | $0 |
|
| | |
| Overall Score | 4.5 | |
|
| |
| Fees | 5.0 | |
| Benefits | 4.0 | |
| | |
Pros and Cons
- 0% intro APR for 18 months
- No late fees
- No penalty interest rate
- No annual fee
Bottom Line
Excellent card for people who carry a balance
No Annual Fees
This card does not charge an annual fee for use.
No Late Fees
This card also avoids many fees associated with other credit cards. A major benefit of this card is its lack of a penalty rate for late payments. Other credit cards may raise your monthly interest rate to the APR penalty rate of 29.99% if you are late on a payment. Cards can also charge you a fee and the penalty interest rate if you spend over the credit limit on your card. The Citi Simplicity does not charge any of these fees. You can use this card without worrying about excess fees on your purchases.
0% Introductory APR
The Citi Simplicity Credit Card also offers a generous introductory APR. For the first 18 months of this card, you do not owe any interest on your account balance. This applies to both purchases and balance transfers from other cards. The card does charge a onetime 3% fee on balance transfers. If you transfer over $1000, you owe an additional $30 because of the fee. While transfers are not free, the fee is significantly lower than paying interest on a balance for almost two years. This introductory rate gives you a chance to pay off your credit card debt without paying interest. After the first 18 months, this card charges a variable APR of 12.99% to 21.99% based on your creditworthiness. Cardholders with good credit scores receive the lower rate.
No Rewards
The downside of the Citi Simplicity Credit Card is it does not offer any sort of rewards program. Your purchases on this card do not generate any points for cash back, hotel visits, and travel tickets. Citi does not offer a rewards program on this card so it can keep the fees on this card low. If you pay off your balance in full every month, you are probably better off using a rewards card as the Citi Simplicity Card does not offer any extra benefits on top of its low interest rate.
Pros:
- No penalty charge on late payments or purchases over the credit line.
- No penalty interest rate increase on late payments or purchases over the credit line.
- 0% introductory APR for the first 18 months.
- Low 3% fee on balance transfers.
- No annual fee.
Cons:
- No rewards program
- Balance transfers can only be made in the first 4 months of the card for the 0% introductory APR
Bottom Line:
The lack of most common fees (annual fees, late fees, penalty rates) and long introductory APR make this a fantastic card for consumers with a credit balance. Cardholders who pay off their balance every month are better off with a rewards card.
Write to David R at davidr@creditdonkey.com
Share this on Facebook or Twitter
Disclaimer: This content is not provided or commissioned by Citi. Opinions expressed here are author's alone, not those of Citi, and have not been reviewed, approved or otherwise endorsed by Citi. This site may be compensated through Citi Affiliate Program.
Disclaimer: This content was first published on January 7, 2012. This content may have been updated on February 1, 2012. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Citi website for updated information.
