Citi Simplicity Card overview
The Citi Simplicity® Card is a simple card that provides an introductory APR on purchases and stability transfers upon opening a brand new account. Nonetheless, this no-annual-fee card would not provide rewards, its advantages are minimal and its variable APR charges are comparatively excessive. Card ranking*: ⭐⭐
*Card ranking relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
Getting out of debt might be tough. However, if you happen to’re working to pay down bank card debt or want to repay a big buy over time, you could discover that the Citi Simplicity card is helpful because of its low introductory annual share price (APR) price for purchases and stability transfers.
Let’s look at this no-annual-fee card extra intently in an effort to resolve whether or not it is best for you.
The data for the Citi Simplicity Card has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
Citi Simplicity Card professionals and cons
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Citi Simplicity Card welcome provide
The Citi Simplicity would not provide a money or rewards bonus while you join. Its predominant attract is 2 introductory APR provides to new cardholders.
You will mechanically get 0% introductory APR on purchases for 12 months from the date you open your Citi Simplicity card account. After that, your APR will vary between 18.24% to twenty-eight.99%, variable primarily based in your creditworthiness.
Additionally, for stability transfers that you simply full inside 4 months of opening your Citi Simplicity, you will get 0% introductory APR for 21 months from the date of the primary switch. As soon as the introductory interval is over, your APR might be 18.24% to twenty-eight.99%, variable primarily based in your creditworthiness.
There may be an introductory stability switch payment of both $5 or 3% of the quantity of every bank card stability switch for the primary 4 months, whichever is bigger. After the four-month introductory interval, the payment is both $5 or 5% of the quantity of every bank card stability switch, whichever is bigger.
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Observe that after your introductory buy APR expires, each new purchases and unpaid buy balances will mechanically accrue curiosity till all balances — together with any transferred balances — are paid in full.
Associated: The very best stability switch bank cards
Citi Simplicity Card advantages
The Citi Simplicity would not provide any rewards and solely has minimal perks.
These are the advantages that you would be able to anticipate from this card:
- Automated account alerts that you would be able to set as much as remind you about your stability ranges, funds due or while you go over your credit score restrict
- Select your cost due date as any out there due date firstly, center or finish of the month
- Contactless-chip enabled card that may mean you can faucet to pay
- Identification Theft Safety Program supplied by Mastercard to assist if you’re a sufferer of identification theft
- No annual payment
- $0 legal responsibility on unauthorized fees
- 24/7 reside customer support
Associated: 5 steps to take when your private info is compromised
Incomes rewards on the Citi Simplicity Card
Once more, as a result of the Citi Simplicity would not earn rewards of any type, the principle purpose to make use of it’s its introductory APR provides for purchases and stability transfers. If you happen to’re not making an attempt to pay down debt, you’ve got little purpose to open this card. If you happen to choose to make use of these introductory provides, you will wish to repay your stability in full inside the introductory interval.
It is crucial to grasp what occurs as soon as your introductory buy APR interval ends if you’re additionally utilizing the introductory stability switch APR provide. At this level, new purchases and unpaid buy balances will mechanically accrue curiosity till all balances, together with transferred balances, are paid in full.
To attenuate the curiosity you pay on the variable APR price, you will wish to repay your buy stability in full and cease utilizing the cardboard for brand spanking new purchases till you’ve got paid off the whole stability in your card in full.
Moreover, the Citi Simplicity card fees a 3% overseas transaction payment, so you will not wish to use it for purchases outdoors the U.S.
Associated: use a bank card to finance house enhancements
Which playing cards compete with the Citi Simplicity Card?
If you happen to’re trying to construct your credit score, you’ve got a number of choices. Considered one of these could be a greater match than the Citi Simplicity.
- If you wish to earn bonus rewards whereas constructing credit score: The Uncover it® Secured Credit score Card earns 2% money again at gasoline stations and eating places (as much as $1,000 in mixed purchases every quarter) and limitless 1% money again on all different purchases. For extra particulars, see our full overview of the Uncover it Secured Credit score Card.
- If you have already got an excellent credit score rating: The Citi Double Money® Card (see charges and charges) earns limitless 2% money again on all purchases (1% while you make a purchase order, and 1% as you pay). Its simplicity makes it considered one of our favourite starter reward playing cards. For extra particulars, see our full overview of the Citi Double Money.
The data for the Uncover it Secured Credit score Card has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
For added choices, take a look at our picks for the most effective secured bank cards and the most effective starter bank cards.
Associated: earn factors and miles with a low credit score rating
Is the Citi Simplicity Card value it?
The Citi Simplicity Card is usually a good possibility if you’re searching for a card with an introductory APR on purchases or an possibility that does not cost late charges or penalty curiosity. Nonetheless, different playing cards provide decrease variable APRs and decrease stability switch charges, so you could wish to contemplate a special card relying in your particular wants.
Backside line
The Citi Simplicity card would not earn any factors — or another kind of rewards, for that matter — however could also be an excellent possibility if you happen to’re trying to make a big buy and have extra time to pay that stability off. If you happen to’re searching for a option to rebuild your credit score rating and reap the benefits of an extended introductory APR interval, this card might be a match for you.
Associated: What’s APR on a bank card?
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