The Good

• No annual fee
• Long 0% introductory period on purchases and balance transfers (21 months)
• No penalty Annual Percentage Rate (APR) if you miss a payment or go over your credit limit
• FICO® Score updated monthly for free
• No late fees ever, no penalty fees, EMV chip, low interest rate on cash advances

In our review of The Citi Simplicity® Card – created specifically for consumers with debt hoping to transfer that balance and save – there is a lot to love.  No Late Fees are a great option for consumers who need to get their credit card debt under control. This card was designed to help people avoid late payment and over-limit charges, which means it is best suited for consumers who have had problems with late payments in the past.

While the lack of late fees is a unique offering, the Citi Simplicity credit card ranks near the top of balance transfer category primarily because of its balance transfer introductory offer – 21 months.  That is easily one of the longest offers available and much longer than the standard 12 months.  What this means is that you have 9 months extra to pay down your existing debt.  If you think you’ll have no problem paying down debt within the first year, than this extra time is probably not valuable and you should look to cards that have no transfer fee or offer you rewards.  But for those that would find the extra time valuable, this is big benefit.

However, the intro offer is not the only thing that grabs our attention. The potential savings on penalties can be valuable to consumers struggling to pay off a large balance.  Some other credit cards frequently ensnare consumers with penalties, fees and complex payment terms.  The Citi Simplicity card strives to provide more consumer-friendly terms.

Citi Simplicity® Card, a partner card issued by Citibank, has a generous introductory APR period for both purchases and balance transfers, and can be considered one of the best balance transfer credit cards currently available in the US. If you tend to make late payments, or simply want the peace of mind knowing that you will not have a penalty if you do, this credit card may be a good fit.

With the Citi Simplicity Card, additional benefits include:

• Emergency assistance and travel
• Extended warranty coverage
• Car rental insurance
• Citi Price Rewind

The Bad

• Requiring a minimum credit score of 700, this card is exclusively for those at the higher end of the credit score spectrum
• No rewards
• High cash advance fee

Not everyone is into earning credit card rewards, but for those who are, the Citi Simplicity® Credit Card – No Late Fees Ever card is not for you. A no-rewards program isn’t a deal-breaker if your number one goal is saving on interest charges, but someone who always pays their balance in full each month isn’t likely to find any real advantage in using this credit card. If managed responsibly by you, a rewards program can be a valuable way to earn points or cash back on the things you buy or miles towards travel.  If using the card to make new purchases – a risky strategy that we do not recommend for consumers paying off debt – and can pay your current debt off in 12 months, you could consider a reward card like the Citi Double Cash card.

Consumers pay a big fee to get cash.  If you are using any balance transfer card to pay down debt, you should not use it to get cash anyway.  But definitely dn’t use this card to get cash at ATMs or other cash dispensers, as you will pay $10 minimum every time. This credit card has a cash advance fee of either $10 or 5% of the amount of every cash advance, whichever is greater.

Our Summary

The Citi Simplicity credit card gets one of the highest ratings in the balance transfer category primarily because of the 21 month 0% introductory offer – that’s one of the best available.  But the simplified payment terms and minimal penalties are also a solid benefit. It’s highly recommended to those consumers with good credit scores who need 1.5-2 years to pay off their existing debt.

Citi Simplicity® Card is a good card to use if want to stop wasting money on interest by paying off your debt, but at the same time, you can’t afford to make high monthly payments. The lengthy intro APR period lets you break up your payments into almost 2-year worth of monthly payments. With no penalty APR or hidden fees, this is an uncomplicated and simple card, and the credit card lives up to its name “Simplicity”.