Citi Simplicity Card Benefits Guide


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If you need to pay off high-interest debt, good news: the market is heating up for balance transfer cards, and issuers have increased the duration of zero-interest introductory offers.

One such card is the Citi Simplicity® Card, which recently increased its introductory APR from 0% from 18 to 21 months on balance transfers made in the first four months (15.49% to 25, 49% variable APR thereafter). While there are no enhanced rewards or benefits to speak of, the card is light on fees – no annual fees, late fees or penalty rates.

If you think this balance transfer card might work well for you, here’s a quick benefits guide that breaks down the key benefits Citi Simplicity has to offer.

Citi Simplicity Card Benefits

The first thing you might notice is that the map is relatively low on bells and whistles, but don’t let the lack of rewards and perks put you off. Depending on how much debt you’re willing to pay off with this card, it might still be worth owning.

0% introductory APR offers

First, Citi Simplicity offers an exceptionally long introductory APR of 0% on balance transfers made within the first four months. You will have 21 full months to pay off your debt, interest free (followed by a variable APR between 15.49% and 25.49%). Compared to other balance transfer cards on the market, this is one of the longest introductory periods available, also comes with the Citi® Diamond Preferred® Card with no annual fee.

Simplicity also offers a much shorter introductory APR of 0% on purchases for 12 months from account opening date, followed by the same variable APR.

Public liability

Like many credit cards, you’ll have fraud protection, which means you won’t be responsible for any unauthorized charges to your account. Since this benefit comes from the Mastercard network, you will be able to report unauthorized charges through the Mastercard app for faster response.

Account activity alerts

With the Citi Simplicity Card, you will receive updates with automatic account alerts. Your Citi Simplicity account allows you to set alerts for withdrawals, password changes, balance transfers, and payments.

Identity theft protection

Certain features can help protect both your Citi Credit Card account and your identity in general. Citi’s Fraud Early Warning feature notifies you of suspicious activity on your account and will contact you by text, email, phone, or mail to confirm your account activity or raise concerns. Another benefit is that if you are a victim of identity theft, you will receive free assistance as a Citi cardholder, even if the fraud occurred on a product from another company.

Additional security features

Citi takes special measures to secure your account with encryption and additional verification for high-risk or unusual transactions. If your account is compromised in any way, these security features can help you deactivate your card quickly and request a new one.

Low fees

Aside from the long introductory APR offers, another main advantage of the Citi Simplicity is its lack of fees. There are no annual fees or late fees – and if you make a late payment, there is no APR penalty.

The main thing you need to consider is its balance transfer fees. Citi Simplicity charges 5% ($5 minimum) on the amount you transfer. Balance transfer fees typically range from 3-5%, so it’s still average, but on the upper end.

Maximize the benefits of Citi Simplicity

The best way to make sure you’re fully maximizing Citi Simplicity is to transfer your balance as soon as possible. Balance transfers must be completed within the first four months of card ownership in order to receive the zero rate offer. Otherwise, you’re stuck with the standard variable APR of 15.49% to 25.49%.

Also, before applying, make sure you agree with the long-term value that Citi Simplicity has to offer. If you can get away with an introductory period of 18 or 15 months, there are plenty of rewards cards that might offer more value in the long run.

For example, the Citi® Double Cash Card offers both rewards (1% cash back when you purchase and 1% additional cash back when you pay for your purchase) and an introductory APR of 0% over 18 months on balance transfers (followed by a 14.74% discount). percent to 24.74 percent variable APR).

The bottom line

As noted, the Citi Simplicity Card is extremely lightweight in terms of benefits and perks, but it could be a boon for someone who needs more time to pay off high-interest debt.

Overall, be sure to review all of your options, including Bankrate’s list of the best balance transfer credit cards, before applying.


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