updated Aug 26, 2016
Here you can find out exactly what Citi Simplicity® Card - No Late Fees Ever gives you, and get a clear picture of how it compares to similar credit cards. Read on to find out if this is the card that can help you pay off your debt stress-free.
The ONLY card with No Late Fees, No Penalty Rate, and No Annual Fee… EVER.
No annual fee - ever. You don't have to pay a single dollar of annual fees to use this card!
0% introductory APR on balance transfers for the first 21 months. If you think you will be able to pay off your balance in 21 months, then this is an ideal card since it allows you to do so without you having to pay a single cent of interest. This means that you have 21 months to pay off your debt without having to pay any interest fees. Remember that this introductory period will only apply as long as your transfers are done in full during the first four months of opening your account. After this introductory period, you will have a 13.24% - 23.24% (Variable). 13.24% - 23.24% (Variable), depending on your creditworthiness. There is a balance transfer fee of $5 or 3% of the amount of each transfer (whichever is more). Do note that you can only transfer an amount not exceeding your credit limit, including the balance transfer fee of 3%.
0% introductory APR on purchases for 21 months. For anything you purchase with this card for the first 21 months, you won't have to pay any interest even if you carry a balance from month to month. This will be particularly helpful if you have plans to buy something expensive such as a vacation package or a new TV. After this fixed 0% APR introductory period, there will be a 13.24% - 23.24% (Variable). 13.24% - 23.24% (Variable) (depending on your creditworthiness).
No late fees - ever, if you make a payment after the due date. Most other cards charge you a late payment fee ($35 average). In the unfortunate event that you do miss a payment, you won't get hit with a nasty fee.
No penalty rate - ever. This is a benefit that very few cards offer. You need not worry about incurring penalty interest rates when you don't make your minimum payments on time, or if you go over your credit line. Most other credit cards charge a penalty APR of 29.99% or even more when you make a late payment or exceed your credit line. But note that making a late payment may still impact your credit score, and is generally a bad idea.
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Transfer any kind of debt. A big advantage of this balance transfer card is that you can transfer any kind of debt to it - even non-credit card debt. So for example you could transfer a student loan or auto loan debt to this card to benefit from the intro APR. There is only one rule: the account number can't include any letters and it must have at least five digits.
Free FICO score access. Another good perk that this card offers is a perk that seems to be trending lately on top credit cards. You can get free access to your FICO credit score, which is very convenient. The FICO Score is one of the most widely reviewed credit scores in the U.S., and gives you a very good idea of what you overall credit looks like.
Balance transfer fee. Citi Simplicity® Card - No Late Fees Ever is a very useful balance transfer card thanks to the 0% intro APR on purchases and balance transfers for 21 months it offers (13.24% - 23.24% (Variable). 13.24% - 23.24% (Variable) depending on your creditworthiness after that). But you do have to pay a balance transfer fee of either 3% of the amount of each transfer or $5, whichever is greater. Depending on how much credit card debt you have, the interest you avoid thanks to the long APR period might well make up for what you spend on the balance transfer fee.
You pay a big fee to get cash. This card has a cash advance fee of either $10 or 5% of the amount of every cash advance, whichever is greater. So don't use this card to get cash at ATMs or other cash dispensers, or you will pay $10 minimum every time.
Citi® Diamond Preferred® Card is a close relative of Citi Simplicity® Card - No Late Fees Ever but gives you more benefits. It also has no annual fee and gives you 0% intro APR on purchases and balance transfers for 21 months, with a regular 12.24% - 22.24%* (Variable). 12.24% - 22.24%* (Variable) (depending on your creditworthiness) for both balance transfers and purchases after that intro period. Like Citi Simplicity® Card - No Late Fees Ever, this card has a balance transfer fee of either $5 or 3% of the amount of each transfer. So the balance transfer options are pretty similar, but you may enjoy a lower ongoing purchase and balance transfer APR compared to what you get with Citi Simplicity® Card - No Late Fees Ever. But this card gives you more to boot, with perks like a 24/7 concierge service, Citi® Private Pass® (special access to events including pre-sale tickets, preferred seating and more), Citi® Identity Theft Solutions and $0 liability on unauthorized purchases. But if you ever are late in paying your credit card bill, Citi Simplicity® Card - No Late Fees Ever is a more merciful card. It has no late fees and no penalty rate (ever), unlike Citi® Diamond Preferred® Card which has a late payment fee of null and a penalty APR of up to 29.99%.
Citi Simplicity® Card - No Late Fees Ever makes it easy for you to pay off debt or buy big-ticket items by giving you a very long introductory APR period on both balance transfers and purchases, while charging no annual fees, no late fees and no penalty rates.
Citi Simplicity® Card - No Late Fees Ever is a good balance transfer card for those of you who would like to transfer your existing balances and stop paying any interest. This card offers a 0% intro APR on purchases and balance transfers for 21 months (almost 2 years!), which gives you the opportunity to pay off your balances in full during those 21 months without having to pay any interest, as well as purchasing big-ticket items at 0% interest. Even after that there will be a 13.24% - 23.24% (Variable). 13.24% - 23.24% (Variable) on purchases and balance transfers based on your creditworthiness.
In my opinion, the most attractive feature of this card is that it does not charge any late fees or penalty APR when you make late payments or spend more than your available credit line. Your 0% intro APR will not be taken away, or be raised to a penalty interest rate, which is what almost all other credit cards will do. Remember though that you should always strive to pay on time so as not to accumulate debt.
This is a good card to use if want to stop wasting money on interest by paying off your debt, but at the same time can't afford to make high monthly payments. The lengthy intro APR period lets you break up your payments into almost 2 years worth of monthly payments. I would highly recommend it to those of you who want to enjoy the balance transfer benefits it has to offer. With no hidden fees or penalty APR, this really is a very simple and uncomplicated card, and in my opinion it definitely lives up to its name "Simplicity".
Click here to go to Citi's official website to apply online for Citi Simplicity® Card - No Late Fees Ever now.
Katrina Gutierrez is a writer at GET.com, a lifestyle and personal finance website. Email: email@example.com.
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Can your balance transfer be an existing Citi bank credit card
November 05 2014 at 11:34
You fail to realize that even though they say you can be late once or twice on a payment, it WILL still show as poor credit worthiness and one who makes late payments anyway for whatever reason, credit card companies are in it to make money. The interest rate WILL go to 21% easily or much more, because after 21 months, who really knows what the interest rate will be !!?? so, if you do NOT do well paying on time, this is NOT a good card to get; however, if you need a 0% for almost 2 years on purchases for example, then I agree, this is a good card to have.
April 16 2015 at 23:03
try it and see
April 23 2015 at 19:52
is the interest deferred ?
October 23 2015 at 16:32
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At GET.com we compare credit cards and rate them objectively based on the credit card's features, interest rates and fees.
Cards are rated by our team based primarily on the basis of value for money to the cardholder. The GET.com team rates each card based on its annual fee, rewards, benefits, bonus, introductory APR, ongoing APR, flexibility (in how its benefits can be used and how rewards are earned and redeemed), and other card features.