Citi Simplicity® Review

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Updated on Wednesday, June 14, 2017

Citi Simplicity® Card - No Late Fees Ever has one of the longest 0% intro balance transfer offers on the market. If you transfer credit card debt to Citi Simplicity® Card - No Late Fees Ever, you will get an incredible  intro 0% for 18 months on Purchases, then an APR of 14.74% - 24.74% (Variable). There is a balance transfer fee of Balance transfer fee – either $5 or 3% of the amount of each transfer, whichever is greater. You should do the math (and we will help you later in this post) — but for most people the fee is worth paying. As the name implies, Citi has tried to make this card “simple.” That means no late fees, no annual fee, and no penalty APR. It also means no rewards. If you have credit card debt at a high interest rate, Citi Simplicity® Card - No Late Fees Ever can help you save a lot of money and become debt-free faster if you use it wisely.

Citi Simplicity® Card - No Late Fees Ever

The information related to Citi Simplicity® Card - No Late Fees Ever has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Citi Simplicity® Card - No Late Fees Ever

Intro BT APR
0% for 18 months on Balance Transfers
Regular Purchase APR
14.74% - 24.74% (Variable)
Balance Transfer Fee
Balance transfer fee – either $5 or 3% of the amount of each transfer, whichever is greater.
Annual fee
Credit required

How the Card Works

The card gets its name, Citi Simplicity® Card - No Late Fees Ever, from its effort to keep things simple. There is a $0 annual fee, late fee, or penalty rate. There is an introductory offer of 0% for 18 months on Purchases. After that, a regular APR of 14.74% - 24.74% (Variable) will apply to any remaining balance.

The Introductory Offer

If you need to finance a purchase, this card offers a good deal. What we particularly like about this intro APR is that the interest is waived, not deferred. Most store credit cards only defer the interest, and you would be hit with a big penalty if you don’t pay the balance in full before the promotional period is over. That is not the case with Citi Simplicity® Card - No Late Fees Ever.

In addition to the intro APR offer on purchases, there is also a very strong 0% for 18 months on Balance Transfers, then an APR of 14.74% - 24.74% (Variable) applies. Just know, you will need to pay a balance transfer fee of Balance transfer fee – either $5 or 3% of the amount of each transfer, whichever is greater. If you think you can pay your debt in full within six months, a balance transfer is usually not worthwhile. However, if you think it will take longer than six months, the fee is usually worth it and you can use this calculator to see how much you can save.

Here is an example to help understand the math. If you are making a monthly payment of $300 on $10,000 of credit card debt at a current interest rate of 17% and you transfer it to the Citi Simplicity® Card - No Late Fees Ever card, you will be charged a $300 upfront fee. However, during the 21-month promotional period you would save over $2,000 — making the $300 fee worthwhile.

What Happens After 18 Months

Even if you still have a balance at the end of the 18 months, interest will start to accrue on your remaining balance on a go-forward basis. There is no penalty, and no retroactive interest will be applied.

No Late Fee

Most credit cards charge a late fee of around $30 when you miss paying at least the minimum payment by the deadline. However, the Citi Simplicity® Card - No Late Fees Ever does away with this fee and will let you choose your payment due date when you sign up.

However, just because Citi doesn’t charge a late fee doesn’t mean there aren’t consequences for making a late payment. If your payment is more than 30 days late, Citi would report that information to the credit bureau. This can have a negative impact on your credit score that can result in higher interest rates when you later apply for new lines of credit.

No Penalty Rate

Most credit cards in addition to charging a late fee will penalize you with an increased interest rate when you are late with a payment. This rate could be somewhere in the 30% range for purchases moving forward. The Citi Simplicity® Card - No Late Fees Ever card promises no penalty rate, meaning even if you are late with a payment, after all mistakes happen, you won’t be gouged with your credit card interest rate. However, if you bounce a check for payment, then you can be charged up to $35.

Same Interest Rate No Matter What You Use Your Card For

The Citi Simplicity® Card - No Late Fees Ever, keeping things simple, makes the interest rate for purchases, balance transfers, and cash advances all the same. Many other credit cards will have different interest rates for each.

Price Protection

It’s already been mentioned that the Citi Simplicity® Card - No Late Fees Ever card does not offer any rewards programs. However, they do offer some price protection. It’s called Citi® Price Rewind. After you make a purchase with your card, you can register that purchase with Citi. Then Citi will search for lower prices across hundreds of online retailers. If Citi finds it at a lower price within 60 days, you will receive the difference between what you paid and the lower price found, up to $200 per purchase and $1,000 per year.

The only downside is this benefit only applies to certain purchases. For example, it doesn’t apply to purchasing a car, but can apply for tires purchased. You can view the full list of what qualifies here. If you find a lower price yourself, then you can submit a Price Rewind Benefit Request.

How to Qualify for the Card

You need to have Excellent/Good credit in order to be approved for the credit card.

In addition to a strong credit score, you will also need to demonstrate your ability to repay the debt. Citi will look at your total debt relative to your income to ensure that you are not too deep into debt. This product is not a way for people in trouble to get a lower rate — it is a way for Citi to get borrowers with a good profile who want a lower interest rate.

What We Like About the Card

A long 0% intro APR period.

There is a balance transfer fee – either $5 or 3% of the amount of each transfer, whichever is greater. However, this is the longest balance transfer on the market. Time is money — and every additional month at 0% can represent considerable savings.

Fewer “gotcha” fees.

Although we hope you never need to take advantage of these benefits, the card has no late fees and no penalty APR. In order to avoid even the risk of a late fee, we strongly recommend that you automate your monthly payments. However, mistakes can happen — and we do applaud Citi for removing some of the most annoying fees.

Citi ®Price Rewind — it is actually a nice feature.

Citi® Price Rewind is a feature that is not used enough. Citi will look for a better deal — and give you the difference if you overpaid. This isn’t just a promise — we have spoken with people who have benefited from this feature.

What We Don’t Like About the Card

There is a balance transfer fee.

In most cases, and for most people, the fee will more than pay for itself. However, there are other balance transfer deals on the market that don’t have a fee. Just make sure you do the math to ensure that the fee is worth paying in your situation.

The APR after the 0% intro offer is not low.

After the intro period is over, the go-to purchase APR is not low, currently at 14.74% - 24.74% (Variable). It ranges from the teens to the 20s, depending upon your credit risk. Hopefully, the intro period is long enough to eliminate your debt completely.

How to Complete a Balance Transfer

After receiving your card, you should call the number on the back of your card to initiate the balance transfer. You will need to give the credit card number of the credit card that has the debt. You cannot transfer debt from another Citi credit card (including its co-brand cards).

Although it can take less time, Citi warns that a balance transfer takes at least 14 days to complete. And you will remain responsible for making all payments on your card until the transfer is complete. We recommend paying close attention so that you do not end up with any late fees on your existing cards.

Who Benefits Most from the Card

If you have a lot of credit card debt that will take a long time (more than 15 months) to pay off, this card is a great option. Over 18 months, the savings can be incredible. Just make sure you take advantage of the 0% intro period to attack your debt as quickly as possible.


No — you do not need excellent credit. Citi may approve anyone with Excellent/Good credit.

Once the introductory period is over, interest will start to accrue at the standard purchase interest rate on a go-forward basis. Interest during the introductory period is waived — so you do not need to worry about a retroactive interest charge.

In the short term, your credit score will probably take a small hit (5-10 points) because you applied for new credit. However, over time, a balance transfer can increase your credit score with proper practices. This is because while new credit makes up 10% of your credit score, the amount you owe accounts for 30%. By using a balance transfer, you will reduce your interest rate. That should help you get out of debt a lot faster.