Credit Cards Balance Transfer Cards

Citi Simplicity Credit Card Review

overall rating

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The Citi Simplicity card offers an outstanding introductory APR offer for balance transfers. You can enjoy 0% APR for 21 months on transferred balances, an arrangement that will save you a lot of money if you have high-interest debt from another card. It has no annual fee, late fees, or penalty rates, but be aware that it charges $5 or 5% of the amount of each transfer, whichever is greater.

Citi Simplicity®

Overall Rating
Citi Simplicity®
On Citi's Secured Site.
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 18.99% - 29.74% variable
Annual Fee $0
INTRO PURCHASE APR 0% for 12 Months
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
Rewards Earning Rate This card does not offer a rewards program.
how this card stacks up
When compared among all balance transfer cards in our database:
Low Introductory Interest
Low Fees
Low Long Term Interest
Security/Customer Experience
worst best

Full Review of Citi Simplicity Credit Card

  • Outstanding 0% APR offer on balance transfers

  • 0% introductory APR offer on new purchases

  • No penalty rates or annual fees

  • 3% foreign transaction fee

  • No rewards program

  • No one-time offer

Pros Explained

  • 0% Introductory APR for 21 months on Balance Transfers: According to Experian, the average credit card balance in 2020 was $5,313. If you’re struggling with credit card debt, and paying the customary 20% or so in annual interest on that balance, one way to tackle the problem is to complete a balance transfer—as in, moving your balance to a card with a low introductory APR. The Citi Simplicity card has one of the best such offers of any credit card: you’ll get 0% APR on balance transfers for 21 months from the date of your first transfer. (The transfer fee, however, is the greater of $5 or 5%) All transfers must be completed within the first four months of opening an account, but there’s no time limit of course on paying off the principal. After the introductory APR period is over, though, the APR is 18.99% to 29.74%, depending on your creditworthiness, which is a fairly typical range. 
  • 0% Introductory APR for 12 Months on New Purchases: This card is also a fine choice if you plan to make major purchases soon, such as replacing your home appliances or upgrading your computer setup, and want to put off paying interest on them, at least for a while. You can get 0% APR on purchases for 12 months from the date of opening an account, giving you more than a full year to finance your purchase without worrying about interest charges. It’s best, of course, to pay off most or all of that spending before that interest-free period is up. Once the introductory offer expires, the regular APR will kick in, and could markedly add to your remaining debt. 
  • No Late Fees, Penalty Rates, or Annual Fees: For a card with such generous introductory APR offers, the absence of an annual fee is an added perk. There are also no late fees, no matter when you make a payment, although you will continue to incur interest on the outstanding balance, at least after the initial 0% APR period. Also, unlike with some cards, the APR doesn’t increase to a penalty rate—usually the highest interest rate charged on the card—after you’ve been in arrears on payments for 60 days or more.  

Cons Explained

  • Foreign Transaction Fee: The Citi Simplicity card’s 3% foreign transaction fee makes the card less than ideal for use outside of the United States or to make online purchases from foreign vendors. While that’s a typical rate for this fee, not all credit cards impose this charge. You may want to also carry another credit card, such as the Capital One VentureOne Rewards card, that has no foreign transaction fee.
  • No Rewards Program: With many credit cards, you earn valuable rewards in the form of cash back, points, or airline miles when using your card to make purchases. The Citi Simplicity card doesn’t have this perk. You earn no rewards for purchases you make.
  • No One-Time Offer: This card doesn’t have a one-time offer, so there’s no incentive for spending a certain amount after you receive it. (Which, alternatively, might be a plus to the card if you fear earning the offer might make you spend beyond your means.) If you’re looking for a card with a generous one-time offer, consider the Citi Rewards+ card. You’ll get 15,000 bonus points if you spend $1,000 within the first three months of opening an account, a $150 value.

Who This Card Is Best For

The Citi Simplicity card is an excellent option for those carrying debt on high-interest credit cards and are seeking relief in the form of a low-interest balance transfer. This card offers 0% APR for a generous 21 months after the date of your first transfer, allowing you a year and a half to pay off your credit card debt without incurring further interest charges. 

To put that in perspective, let’s say you are carrying a $6,000 balance on a typical credit card. According to the Federal Reserve, the average assessed interest rate for credit cards was 17.13% as of Q3 2021. Assuming you were paying that average rate over 12 months, you’d repay $6,576, including interest charges of $571. 

But, let’s say you instead transferred the $6,000 balance transfer to the Citi Simplicity card. You’d be charged a transfer fee of 5% of the balance, which would come to $180. However, provided you stuck with a $180 monthly payment, and you qualified for a 16.99% interest rate after the introductory APR offer ended, you’d eliminate the balance in 36 months (you would eliminate $3,240 at 0% interest during the first 21 months and then it would take another 21 months to pay down the remaining $2,760 once the introductory rate expires). Even better, you’d pay just $317 in interest, in addition to the transfer fee. The balance transfer would save you $479.80 in interest compared with your old card.

The card is also a fine choice if you plan major purchases, since it allows you to forgo interest on those buys for the 21 months you own the card. That feature could allow you to skip hundreds of dollars in interest charges on buying a pricey new computer, say, or on completing a major home renovation or taking an expensive vacation.   

Standard Benefits

  • Citi Identity Theft Solutions
  • Digital wallet access
  • Choose your own payment due date

Cardholder Experience

In the J.D. Power 2021 U.S. Credit Card Satisfaction study, Citi ranks sixth out of 11 card issuers. Its score was below average.

If you have questions about your card or your account, Citi’s customer service is available 24 hours a day, 365 days a year. Just call 1-800-950-5114. 

Security Features

As a Citi cardholder, you can set up automatic account alerts. Once in place, the alerts help you monitor your account. Citi will remind you about balance totals and payment due dates, as well as warning you if you go over your credit limit. 

As a Citi cardholder, you get access to Citi Identity Theft Solutions for all your cards and accounts. If your personal information is stolen, even through fraud on a card issued by a different company, you can receive personalized support and assistance through the program. A Citi representative will assist you in contacting credit bureaus to report the theft, advise on how to complete any necessary police reports or government forms, and help you identify other accounts that may have been compromised. 

Hidden Fees to Watch Out For

With no penalty APR, late fees or annual fees, the Citi Simplicity card is a relatively low cost option. However, you should be aware that the 3% foreign transaction fee could add to your costs when traveling internationally. 

There’s also a fee for balance transfers. It will cost you $5 or 5% of the amount transferred, whichever is greater. If you're looking to transfer a balance, there are cards available that don't charge a fee, or who charge a lower fee than the Simplicity card.  

Our Verdict

If you have credit card debt and need some time, interest-free, to pay it off, signing up for the Citi Simplicity card makes a lot of sense. You’ll get 21 months at 0% APR on eligible balance transfers, giving you nearly two years to reduce or eliminate your debt without incurring costly interest fees. The offer could help you save hundreds or even thousands of dollars in interest. 

However, the Citi Simplicity card has little to recommend it once your debt is paid off. After that, consider signing up for a rewards credit card, such as the Chase Freedom Unlimited card. Like the Citi Simplicity card, the Chase Freedom Unlimited card has no annual fee. However, you’ll earn unlimited 1.5% cash back on every purchase you make.

Next Steps
For Citi Simplicity®
on Citi's Secured Site.
Compare This Card
See how this card compares to similar cards
Citi Simplicity®
overall rating
Recommended Credit
Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 18.99% - 29.74% variable
Annual Fee $0
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
Investopedia Credit Card Rating Methodology
Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members.
Overall Star Rating Explained
To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card:
We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
  1. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards’ introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates.
  2. We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel.
  3. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket).
  • Cards that are selected best overall in their respective categories generally feature most if not all of the following attributes:
  • Low or Reasonable Fees Credit card fees come in many forms but the primary ones involve those for annual card membership and balance transfer. There are a myriad of reward and non-reward card options that charge no annual fee but for the many that do assess an annual fee the cost is often justified by their lucrative ongoing rewards and initial signup bonuses. Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned
  • Competitive Interest Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range.
  • Valuable Rewards Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. We also assign value to sign-up bonus offers and their initial spending requirements, when present.
  • Excellent Benefits Credit card benefits cover a range of offerings like concierge service, TSA Pre-check, auto rental coverage, travel accident insurance, lost luggage assistance and free credit scores. We rate cards on the number and level of over a dozen standard and upscale benefits and provide extra weighting emphasis for those travel-related perks that apply to premium travel cards when present.
  • Solid Security/Customer Service Security and customer service features like lost or stolen card replacement, being able to lock one’s card from an issuer app and 24 hour customer support are becoming more standard across the card market and we provide a significant amount of weighting to features in this area.
  • You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.