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Key takeaways
- The Citi Simplicity Card is mild on advantages, but it surely boasts one of many longest 0 % intro APRs on stability transfers accomplished inside your first 4 months, which might go an extended solution to serving to you pay down high-interest debt.
- The cardboard can be mild on charges, with no annual charge, no late charges and no penalty APR after a late fee.
- To get probably the most out of your card, switch as a lot of your debt as attainable within the intro interval to keep away from paying curiosity for a whopping 21 months (after which you may pay 19.24 % to 29.99 % variable APR in your remaining stability).
Citi is an promoting companion.
If you want to pay down high-interest debt, excellent news — the Citi Simplicity® Card* is a stability switch card providing an extended 0 % intro APR supply for 21 months on stability transfers made throughout the first 4 months and a 0 % intro APR on purchases inside 12 months of account opening (19.24 % to 29.99 % variable APR thereafter for each). Though there aren’t any rewards or enhanced advantages to talk of, the cardboard is mild on charges — no annual charge, late charges or penalty charges.
We break down the important thing perks supplied by Citi Simplicity so that you could see how nicely it’d be just right for you.
Citi Simplicity Card advantages
The very first thing you may discover is that the Citi Simplicity Card is comparatively low on bells and whistles, however don’t let the dearth of rewards and advantages deter you. Relying on how a lot debt you stand to repay with this card, it could possibly be worthwhile to carry.
0% intro APR gives
At the start, the Citi Simplicity gives an exceptionally lengthy 0 % intro APR on stability transfers accomplished throughout the first 4 months — you’ll get a full 21 months to repay your debt, interest-free (adopted by a variable APR of 19.24 % to 29.99 %). In comparison with different stability switch playing cards available on the market, this is without doubt one of the longest 0 % intro APR intervals out there — matched additionally by the no-annual-fee Citi® Diamond Most well-liked® Card*, which comes with a 0 % intro APR on stability transfers for 21 months, adopted by a variable APR of 18.24 % to twenty-eight.99 %.
The Citi Simplicity additionally gives a shorter 0 % intro APR on purchases for 12 months from the date of account opening, adopted by a 19.24 % to 29.99 % variable APR.
Legal responsibility safety
Like many bank cards, you’ll take pleasure in fraud safety, that means you gained’t be accountable for unauthorized costs made to your account. Since this profit comes by means of the Mastercard community, you’re in a position to report unauthorized costs by means of the Mastercard app for a sooner response.
Account exercise alerts
With the Citi Simplicity Card, you obtain automated alerts for updates made to your account. You may set alerts for withdrawals, password modifications, stability transfers and funds.
Id theft safety
A number of options can assist shield each your Citi bank card account and your identification generally. Citi’s Fraud Early Warning characteristic informs you of any suspicious exercise in your account and contacts you by textual content, electronic mail, cellphone or mail to verify account exercise or increase issues with you. One other plus is that, should you’re a sufferer of identification theft, you’ll obtain free help from Citi as a Citi cardholder — even when the fraud occurred on a product from one other firm.
Low on charges
Except for the prolonged 0 % intro APR gives, one other essential good thing about the Citi Simplicity is its lack of charges. There’s no annual charge and no late charges — and should you make a late fee, there’s no penalty APR.
The primary factor to notice is that this card’s stability switch charge. There’s an introductory stability switch charge of three % of the quantity of every switch (minimal $5) for stability transfers accomplished inside 4 months of account opening. After the primary 4 months are up, the stability switch charge will increase to five % (minimal $5).
Maximizing the Citi Simplicity’s advantages
The easiest way to totally maximize the Citi Simplicity Card is to switch your balances as quickly as attainable. Steadiness transfers have to be made throughout the first 4 months of holding the cardboard with a view to obtain the 0 % intro APR supply — in any other case, you’re caught with the usual 19.24 % to 29.99 % variable APR.
Additional, earlier than making use of, make certain that you’re OK with the long-term worth the Citi Simplicity has to supply. If you may get away with an 18- or 15-month introductory time period, there are many different rewards playing cards on the market with shorter introductory phrases that may supply extra worth in the long term.
For instance, the Citi® Double Money Card* gives each rewards — 1 % money again as you purchase and an extra 1 % again as you pay on your buy — and a 0 % intro APR on stability transfers for 18 months (adopted by a 19.24 % to 29.24 % variable APR).
The underside line
The Citi Simplicity Card is extraordinarily mild on advantages and perks, but it surely could possibly be worthwhile for somebody who wants an extended time period to pay down high-interest debt. All in all, make sure you overview all of the choices out there to you, together with our listing of one of the best stability switch bank cards, earlier than you apply.
*All details about the Citi Simplicity® Card, the Citi® Diamond Most well-liked® Card and the Citi® Double Money Card has been collected independently by Bankrate and has not been reviewed or accredited by the issuer.
