Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- Long Intro 0% APR
- Extreme Forgiveness
- No Rewards System
- Balance Transfer Fee
On Citi’s Secure Website
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Long Intro 0% APR
- Extreme Forgiveness
CONS
- No Rewards System
- Balance Transfer Fee
APR
18.49% - 29.24% (Variable)
Annual Fee
$0
Balance Transfer Fee
$5 or 5% (whichever is greater)
Credit Requirements
Good - Excellent
The Citi Simplicity® Card markets itself as the premier choice for the occasionally forgetful customer who still maintains good credit (660 or above). The card never charges late fees for any late payment, ever. Although you should always strive to pay your bills on time, this card can take you a long way if you’re prone to slip up every now and then.
While most cards waive the fee on just the first late payment, the Citi Simplicity Card waives fees on all late payments. It also provides the freedom to choose payment due dates in order to accommodate any kind of financial situation.
Despite its exceptional forgiveness policy, the card has no kind of rewards program enticing customers to swipe. There’s also a sizable difference in duration for the card’s intro 0% APR periods on purchases and balance transfers, which, as you’ll see, can come into conflict with the card’s seemingly generous interest policy.
Let’s take a closer look at the benefits and drawbacks of the Citi Simplicity Card.
- No Annual Fee
- Extreme Forgiveness
- 0% Intro APR
- No Rewards System
- No Sign Up Bonus
- High Ongoing Variable APR Range
- High Balance Transfer Fee
What is the Initial Credit Limit?
Citi does not promote a minimum credit limit for successful applications, but it should be at least $500. However your specific credit limit will be determined by a number of factors including your credit history, income and current income to debt ratio.
Can I Get Pre Approved?
It is possible to get pre approved for the Citi Simplicity via mailer, but if you apply online, it is a full application process, which will trigger a hard credit pull. So, unless you receive a direct mailer, you will struggle to obtain pre approval.
When Should You Consider It?
The Citi Simplicity is a great card if you’re carrying a credit card balance or are planning a large purchase in the near future, since there is a 0% introductory rate for up to 21 months. This will allow you to pay down your debt or cover your purchase without paying any interest.
When Shouldn't You Consider It?
The 0% introductory rate is the main perk of this card. So, if you’re looking to earn ongoing rewards and benefits, there are other cards for those with good to excellent credit that have these features.
In This Review..
Benefits
Let’s take a closer look at the benefits and drawbacks of the Citi simplicity Card – and whether or not it’s right for your wallet.
- No Annual Fee
As with most other Citi options, this card doesn’t charge an annual fee, which means you don’t have to worry about swiping enough to cover a fixed yearly payment. No annual fee is a highly competitive perk since the average annual credit card fee is around $147.
- Extreme Forgiveness
The Citi Simplicity Card is the only card on the market that doesn’t charge penalties on any late payments or raise interest as a result.
The generous forgiveness policy also beats out dozens of competitors that only forgive the first late payment, such as the Citi Double Cash Card.
- 0% Intro APR
The Citi Simplicity Card’s other attractive perks are the exceptionally long interest-free periods for purchases. New customers enjoy 0% interest 12 months on purchases and 21 months on balance transfers, then 18.49% – 29.24% (Variable).
However, keep in mind that the two lengthy zero-interest periods can backfire on your credit if you’re not diligent with your payments.
Drawbacks
Here are the most important cons you should consider before apply:
- No Rewards System
The card doesn’t offer any rewards on purchases, leaving customers with little incentive to actually use it. Most credit cards, on the other hand, typically offer rewards for either specific spending categories
(e.g. the Capital One Savor Card, which offers unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases. or the Chase Freedom Unlimited, which provides 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases).
- No Sign Up Bonus
Besides the long 0% intro, there is no sign up bonus.
- High Ongoing Variable APR Range
The Citi Simplicity Card’s high APR range between 18.49% – 29.24% (Variable) leaves little incentive for customers to swipe after the intro 0% APR periods.
- High Balance Transfer Fee
The card has a balance transfer fee of $5 or 5% (whichever is greater), which rests at the high end of the average range of 3% to 5% for most credit cards.
How To Apply For Citi Simplicity Credit Card?
- 1.
Visit the Citi Simplicity Credit Card home page and then click “Apply Now”.
- 2.
A page comes up; just fill in your personal information correctly.
- 3.
Next, fill in your security number, date of birth and other information. Also fill in your financial information, and then take your time to read through the terms and conditions.After this, tick to agree and then click on “Agree and Submit.”
Is the Citi Simplicity Card Right for You?
The card may seem a good option for the type of customer privy to slip up on payments from time to time.
But with a high interest range, mismatched intro 0% APR periods, and a dearth of rewards, the Citi Simplicity Card leaves much to be desired by the average payment-conscious customer.
Compare The Alternatives
Though the Citi Simplicity Card stands alone when it comes to exceptional late-payment forgiveness, many other cards still boast either strong forgiveness policies or generous intro 0% APR periods.
|
|
| |
|---|---|---|---|
Capital One Savor card | Chase Freedom Unlimited® card | Citi Simplicity® Card | |
Annual Fee | $0
| $0
| $0
|
Rewards |
1% – 3%
earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases.
|
1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
|
None
None
|
Welcome bonus |
$200
$200 cash bonus once you spend $500 on purchases within the first 3 months from account opening
|
Up to $300
additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
|
None
None
|
Foreign Transaction Fee | None
| 3%
| 3%
|
Purchase APR | 19.24% – 29.24% variable
| 19.49% – 28.24% variable
| 18.49% – 29.24% (Variable)
|
FAQ
Although you can apply by phone, the quickest application method is online. When you submit an application, you should get an approval decision almost immediately.
In most cases, you can expect a decision within one or two business days. It will then take a further 10-14 days to receive your new card.
One of the attractive things about getting a Citi credit card is that it will integrate with your Citi bank account. Citi has a linking feature, which allows you to link your credit cards, checking account, savings account and other Citi products.
This not only means that you can log in to all your accounts with a single ID and password, but you can enjoy real time transfers and benefit from any relationship discounts.
There are a number of reasons why your application was denied and Citi may not be forthcoming with its specific reason, so you’ll need to do a little detective work. The most obvious reason for denial is your credit score is too low to qualify.
However, if you have a good to excellent score, your application may be rejected due to insufficient income, or unstable employment. If you can work out the reason why your application was denied, you can work on this and consider reapplying in six to 12 months.
Most credit card companies tend to reserve the cards with the best benefits for those with high credit scores. The Citi Simplicity is essentially a balance transfer card offering 0% introductory rate for up to 21 months.
Since this is a potentially a very lucrative benefit, Citi needs to be confident that you are financially responsible.
Review 0% Intro Balance Transfer Cards
Chase Freedom Flex
Citi Simplicity
Capital One Quicksilver
Chase Freedom Unlimited
Wells Fargo Reflect
Capital One SavorOne
Citi Diamond Preferred
Chase Slate
U.S. Bank Altitude Go Visa
U.S. Bank Cash+ Visa
Review Citi Credit Cards
Citi Custom Cash
Best Buy Credit Card
American Airlines AAdvantage MileUp
AAdvantage Executive World Elite Mastercard
AAdvantage Platinum Mastercard
Citi Diamond Preferred
Citi Double Cash
Citi Prestige
Citi Rewards+
Citi Secured Mastercard
Citi Simplicity
Costco Anywhere Visa
