Citi Simplicity bank card evaluation: Full particulars

Citi Simplicity Card overview

The Citi Simplicity® Card is a simple card that gives an introductory APR on purchases and steadiness transfers upon opening a brand new account. Nonetheless, this no-annual-fee card does not supply rewards, its advantages are minimal and its variable APR charges are comparatively excessive. Card ranking*: ⭐⭐

*Card ranking is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

Getting out of debt will be troublesome. However, should you’re working to pay down bank card debt or wish to repay a giant buy over time, chances are you’ll discover that the Citi Simplicity card is beneficial because of its low introductory annual proportion charge (APR) charge for purchases and steadiness transfers.

Let’s study this no-annual-fee card extra intently so that you could 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 execs and cons

Citi Simplicity Card welcome supply

The Citi Simplicity does not supply a money or rewards bonus once you enroll. Its important attract is 2 introductory APR gives to new cardholders.

You will routinely 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 based mostly in your creditworthiness.

Additionally, for steadiness 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 will likely be 18.24% to twenty-eight.99%, variable based mostly in your creditworthiness.

There’s an introductory steadiness switch price of both $5 or 3% of the quantity of every bank card steadiness switch for the primary 4 months, whichever is bigger. After the four-month introductory interval, the price is both $5 or 5% of the quantity of every bank card steadiness switch, whichever is bigger.

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Word that when your introductory buy APR expires, each new purchases and unpaid buy balances will routinely accrue curiosity till all balances — together with any transferred balances — are paid in full.

Associated: The most effective steadiness switch bank cards

Citi Simplicity Card advantages

The Citi Simplicity does not supply any rewards and solely has minimal perks.

These are the advantages that you would be able to count on from this card:

• Automated account alerts that you would be able to set as much as remind you about your steadiness ranges, funds due or once you go over your credit score restrict
• Select your fee due date as any obtainable due date at the start, center or finish of the month
• Contactless-chip enabled card that may can help you faucet to pay
• Identification Theft Safety Program provided by Mastercard to assist in case you are a sufferer of id theft
• No annual price
• $0 legal responsibility on unauthorized prices
• 24/7 dwell customer support

Associated: 5 steps to take when your private data is compromised

Incomes rewards on the Citi Simplicity Card

Once more, as a result of the Citi Simplicity does not earn rewards of any form, the primary cause to make use of it’s its introductory APR gives for purchases and steadiness transfers. When you’re not making an attempt to pay down debt, you might have little cause to open this card. When you choose to make use of these introductory gives, you will need to repay your steadiness in full throughout the introductory interval.

It is crucial to grasp what occurs as soon as your introductory buy APR interval ends in case you are additionally utilizing the introductory steadiness switch APR supply. At this level, new purchases and unpaid buy balances will routinely accrue curiosity till all balances, together with transferred balances, are paid in full.

To reduce the curiosity you pay on the variable APR charge, you will need to repay your buy steadiness in full and cease utilizing the cardboard for brand new purchases till you’ve got paid off the complete steadiness in your card in full.

Moreover, the Citi Simplicity card prices a 3% international transaction price, so you will not need to use it for purchases outdoors the U.S.

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Which playing cards compete with the Citi Simplicity Card?

When you’re trying to construct your credit score, you might have a number of choices. One in every of these may 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 evaluation of the Uncover it Secured Credit score Card.
• If you have already got a superb credit score rating: The Citi Double Money® Card (see charges and costs) earns limitless 2% money again on all purchases (1% once you make a purchase order, and 1% as you pay). Its simplicity makes it one among our favourite starter reward playing cards. For extra particulars, see our full evaluation 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 finest secured bank cards and the finest starter bank cards.

Associated: The best way to earn factors and miles with a low credit score rating

Is the Citi Simplicity Card value it?

The Citi Simplicity Card generally is a good possibility in case you are 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 supply decrease variable APRs and decrease steadiness switch charges, so chances are you’ll need to take into account a unique card relying in your particular wants.

Backside line

The Citi Simplicity card does not earn any factors — or every other sort of rewards, for that matter — however could also be a superb possibility should you’re trying to make a big buy and have extra time to pay that steadiness off. When you’re searching for a technique to rebuild your credit score rating and reap the benefits of a protracted introductory APR interval, this card may very well be a match for you.

Associated: What’s APR on a bank card?