Citi Simplicity® Card Review – 0% APR for 18 Months

Citi Simplicity® Card Review – 0% APR for 18 Months

The Citi Simplicity® Card really lives up to its name. This straight-shooting credit card has one of the longest introductory 0% APR promotions in the business, covering both purchases and balance transfers. Accordingly, it appeals to consumers who wish to transfer high-interest balances from existing credit card accounts or finance large purchases that they can pay off before the regular APR kicks in. Although it doesn’t have an unusually low APR once the introductory period ends, Citi Simplicity’s lack of penalty fees and interest charges is great for cardholders who occasionally slip up.

Citi Simplicity is comparable to other no-frills cards with favorable rates and terms, including Chase Slate Card, BankAmericard Credit Card, and U.S. Bank Visa Platinum. It’s also comparable to entry-level cash back credit cards with long intro APR deals, such as Capital One Quicksilver, Discover it and Discover it Chrome, BankAmericard Cash Rewards Credit Card, and Chase Freedom. However, it lacks the rewards programs and sign-up bonuses of those cards.

There is no sign-up bonus, but the introductory APR described below is the main appeal of this card.

Citi Simplicity has a 18-month 0% APR purchase and balance transfer promotion. Qualifying balance transfers must be made within four months of account opening.

There is never an annual fee or late payment fee. The foreign transaction fee is a flat 3%. Balance transfers cost the greater of $5 or 3% of the transferred amount, while cash advances cost the greater of $10 or 5%. Returned payments cost $35.

Citi Simplicity has an impressive lineup of value-added benefits. These include 24/7 concierge service for travel and event bookings, 120 days of purchase protection for stolen or damaged items (up to $1,000 per item and $50,000 per calendar year), complimentary loss and damage coverage for car rentals charged in full on the card, and complimentary one-year warranty extensions on items with existing warranties set to expire in five years or less.

Citi Simplicity also comes with Citi Private Pass benefits, which include VIP access to popular sporting events and concerts, plus exclusive access to special events, such as celebrity dinners.

This card requires excellent credit. If you have any dings on your credit record, you likely won’t qualify.

The Citi Simplicity® Card holds applicants to pretty high credit standards. Those fortunate enough to qualify for this card are handed a rare opportunity: the ability to make large upfront purchases and transfer high-interest balances from other cards, and pay no interest for 18 months. If you’ve taken the trouble to research and apply for Citi Simplicity, chances are good that you already know how you’re going to use it.

The Citi Simplicity® Card is a fantastic credit card for consumers who wish to transfer existing high-interest credit card balances or finance large purchases – provided they have the discipline to pay for those activities before the 18-month introductory APR period ends. On the other hand, this isn’t a great card for people with spotty credit, nor those who value rewards in any form.

This card’s industry-leading intro APR promotion, low balance transfer fees, and lack of an annual fee, penalty APR, and late fees are all great benefits. Its rather high regular APR, foreign transaction fee, credit requirements, and lack of a sign-up bonus or rewards count against it. Overall, it’s an excellent balance transfer and purchase financing tool.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Categories: Citi, Credit and Debt, Credit Cards, Reviews

Brian Martucci writes about frugal living, entrepreneurship, and innovative ideas. When he’s not interviewing small business owners or investigating time- and money-saving strategies for Money Crashers readers, he’s probably out exploring a new trail or sampling a novel cuisine. Find him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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