Some credit cards are designed specifically to help you pay off credit card debt, and Citi Simplicity® Card - No Late Fees Ever, a partner card, is one of these. Although there are other "hybrid" credit cards which provide good terms for balance transfers but double as a cash back or travel credit card, Citi Simplicity® Card - No Late Fees Ever has a special set of benefits which make it stand out from similar cards issued by other nationwide banks.
|Credit Card||Features||Intro APR||Regular APR||Annual Fee||Why we like it||We least like||Credit Required||Related links|
Citi Simplicity® Card - No Late Fees Ever
0% intro APR on purchases for 12 months and balance transfers for 21 months
16.24% - 26.24% (Variable)
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Here GET.com provides answers to key questions about Citi Simplicity® Card - No Late Fees Ever to help you better understand the advantages and disadvantages of using this card.
Questions And Answers For Citi Simplicity® Card - No Late Fees Ever
Answer: Although getting Citi Simplicity® Card - No Late Fees Ever will not magically erase your old credit card debt, it can help you avoid getting deeper into debt because it has a 0% intro APR on purchases for 12 months and balance transfers for 21 months, only after which the standard 16.24% - 26.24% variable APR applies. That gives you nearly two years to pay off your balance without being charged interest. If you currently pay 10% - 20% in interest on your credit card balances, transferring those balances to Citi Simplicity® Card - No Late Fees Ever will help you stop accumulating more debt due to interest charges so you can focus on paying off your existing debt.
Answer: Yes, there is a balance transfer fee of 5% of each balance transfer; $5 minimum. There are other cards which do not charge a balance transfer fee, but have shorter introductory low APR periods, or none at all. If you have a large amount of debt, the money you save on interest charges over the lengthy introductory APR period you get with Citi Simplicity® Card - No Late Fees Ever could more than make up for what you pay in balance transfer fees.
Answer: That depends on the line of credit you are approved for. You can transfer balances up to your available credit limit. Bear in mind that transfer fees will be deducted from available credit. If, for example, you get a $5,000 line of credit when you first open the account, you can transfer up to $4,850 (the balance transfer fee would use the remaining $150 of credit). The credit limit you get will be determined by your annual income, and a review of your debt. Credit limits can be as low as $500, but if you have a decent income and credit history you may get a much higher line of credit.
Answer: No, you pay no annual fee to use Citi Simplicity® Card - No Late Fees Ever.
Answer: No, you do not earn rewards when you use Citi Simplicity® Card - No Late Fees Ever to make purchases.
Answer: Even though you do not earn rewards for purchases, this card can still work well for big-ticket purchases because of the long introductory APR period (0% intro APR on purchases for 12 months and balance transfers for 21 months with 16.24% - 26.24% variable APR after that - based on your creditworthiness). The money you can save on interest payments by paying for a big purchase during the introductory period makes using this card an attractive alternative to buying on installments or leasing.
Answer: When you use Citi Simplicity® Card - No Late Fees Ever to pay for purchases, Citi extends the warranties of the items you buy. Citi Price Rewind is a particularly useful price protection service through which you can have Citi track online offers for things you buy using this card to see if lower prices appear during 60 days after you make the purchase. If a lower price is found, you may be reimbursed for the difference.
Answer: Not really. The standard APR (16.24% - 26.24% variable cash advance APR) applies to cash advances, which is a plus because many other credit cards have a higher APR for cash advances. However, you pay 5% of each cash advance; $10 minimum every time you use this card to get cash, which is a huge amount of money to pay just to get some ready money.
Answer: You get to set up your own bill payment schedule on any available due date throughout the month. As with other credit cards, you can either pay your full balance or just the minimum payment due each month, though paying in full is always recommended because that way you avoid interest charges. The due date for your payment is at least 23 days after the close of each billing cycle.
Answer: No, because it has a 3% foreign transaction fee which you pay when you use this card to make purchases outside of the U.S. in foreign currencies.
Answer: No, Citi Simplicity® Card - No Late Fees Ever has no late fees and no penalty rate. That is a major benefit which provides a lot of peace of mind, but don't get too comfortable. Paying your credit card bill late will still affect your credit history, so you should avoid doing so at all costs.
Answer: No, free access to your credit score is not provided as a card benefit with Citi Simplicity® Card - No Late Fees Ever.
Answer: No, this card is only available to people with excellent credit. If you do not have excellent credit then you should not apply at all because being rejected can hurt your credit.
Answer: This card is for people who want a very long introductory low APR period for both balance transfers and purchases. Whether you want to invest in a big purchase and pay it off interest-free or enjoy a reprieve from interest rates during which you can pay off your credit card debts, Citi Simplicity® Card - No Late Fees Ever with its 0% intro APR on purchases for 12 months and balance transfers for 21 months will help you do those things before the 16.24% - 26.24% variable APR kicks in.
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