How to do a balance transfer with Citi
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- Citi offers some of the longest introductory APRs for balance transfers, with some cards allowing you to save money on interest for up to 21 months
- You can complete a balance transfer with Citi after you're approved for an eligible Citi card or if you receive an offer on an existing account
- Citi credit cards with intro APR offers include Citi Simplicity® Card, Citi® Diamond Preferred® Card, Citi® Double Cash Card and Citi Rewards+® Card
Citi offers some of the longest introductory APRs for balance transfers on the market. With some Citi cards, you save money on interest for up to 21 months, which may be enough time to pay off all of your high-interest credit card debt. Some Citi cards also extend 0 percent intro APRs to purchases, while others offer cash back for each dollar you spend. Finding the right balance transfer card can help you save money and get your finances on track. Here’s a breakdown of what you should know about Citi balance transfer cards and the steps you need to take to consolidate your credit card debt.
How to do a balance transfer with Citi
How to transfer a balance to a new card
If you haven’t signed up for a balance transfer card from Citi yet, you can apply for a card and, if approved, set up your balance transfer at the same time. Upon approval of your new account, you’ll be given a chance to transfer a balance from an existing card during your application process. To initiate the transfer, you’ll simply need to provide the account number of your other account, the card issuer’s name and the amount of debt you want to transfer.
How to transfer a balance to an existing card
If you already have a new Citi credit card and you want to transfer a balance, you should know that you’ll likely face a time limit. With the Citi Simplicity® Card, Citi® Diamond Preferred® Card, Citi® Double Cash Card and Citi Rewards+® Card, you can only take advantage of the introductory balance transfer offer if you initiate your balance transfer within four months of account opening.
If you’re within that time frame, here are the steps you need to take:
- Log in to your Citi account and click “Payments and Transfers” at the top of the page.
- Click on “Balance Transfers.”
- Click “View Available Balance Transfer Offers.”
- Select the balance transfer offer you want to pursue and enter the required details, such as the account number for the credit card you want to transfer a balance from and the balance transfer amount.
If you’re beyond the four-month timeframe — say you’ve had a Citi account for years — it’s worth noting that you may still receive balance transfer offers in your Citi account from time to time.
Additionally, you can also contact Citi customer service and initiate a balance transfer over the phone. All you have to do is call the number on the back of your card with your account information ready.
How to check the status of your balance transfer
You can check the status of your Citi balance transfer through your account. All you have to do is:
- Log in to your Citi account.
- Click “Payments and Transfers” at the top of the page.
- From there, click “Balance Transfers.”
- Then, click “View Balance Transfer Status.”
What to know after completing a balance transfer with Citi
Your Citi balance transfer may take anywhere from two to 21 days from start to finish, so you’ll want to keep an eye on your old account until it shows a $0 balance. You’ll also need to continue making payments on your old credit card account until the balance transfer is complete. If you still have a balance showing and you fail to make a payment on your old card before your due date, you could be stuck paying late fees and see a drop in your credit score.
Once your balance transfer has been fully processed and your old account shows a $0 balance, you can choose to keep that account open or call the card issuer and close it. Just remember that keeping old accounts open is typically positive for your credit score since old accounts can increase the average length of your credit history (even if you’re not using them).
Best Citi credit cards for balance transfers
Citi offers an array of competitive credit card offers, including cards that provide a 0 percent intro APR for a limited time. Make sure to compare Citi balance transfer cards in terms of their benefits, introductory balance transfer offers, rewards and fees before choosing a card.
The following Citi credit cards offer the best balance transfer terms:
Citi Simplicity Card: Best for debt consolidation
The Citi Simplicity Card offers a 0 percent intro APR on balance transfers for 21 months (then a variable APR of 18.99 percent to 29.74 percent), which is one of the longest introductory APR offers on the market today. There’s no annual fee, but you’ll be required to pay an introductory balance transfer fee of $5 or 3 percent of the amount of the transfer (whichever is greater) for balance transfers completed within four months of account opening.
Also, with the Citi Simplicity Card, you won’t pay any late fees or penalty APR. Other cardholder benefits include a 0 percent intro APR on purchases for the first 12 months (followed by a variable APR of 18.99 percent to 29.74 percent), the flexibility to choose your own due date and $0 fraud liability.
Citi Diamond Preferred Card: Best for purchases and balance transfers
The Citi Diamond Preferred Card also offers a 0 percent intro APR on balance transfers for 21 months and a 0 percent intro APR on purchases for 12 months (then a 17.99 percent to 28.74 percent variable APR). You’ll also avoid an annual fee, but you’ll have to pay a 5 percent balance transfer fee (minimum $5) on debt you transfer over, and balance transfers must be completed within four months of account opening.
This card lets you choose your own payment due date, too. You’ll also get Citi Entertainment access, which lets you purchase presale tickets to concerts, sporting events and more.
Citi Double Cash Card: Best for earning flat cash back
The Citi Double Cash Card is unique because it offers both cash back rewards and a lengthy balance transfer offer. You’ll get a 0 percent intro APR on balance transfers for 18 months (followed by a variable APR of 18.99 percent to 28.99 percent). You’ll also get the chance to earn up to 2 percent cash back on everything you buy — 1 percent when you make a purchase and another 1 percent when you pay it off. This card also comes with no annual fee.
With this card, you’ll get an intro percent balance transfer fee of 3 percent (minimum $5) for any balances you transfer within the first four months of account opening. A 5 percent fee (minimum $5) applies for any transfers completed after four months.
When it comes to redeeming rewards, this card lets you cash in your rewards for statement credits, direct deposits, checks or basic Citi ThankYou points, which offer more redemption options like shopping on Amazon or gift cards.
Citi Rewards+ Card: Best for rewards on everyday spending
The Citi Rewards+ Card, which comes with no annual fee, is a good card for both balance transfers and everyday spending. You’ll get a 0 percent intro APR on balance transfers and purchases for 15 months (followed by a variable APR of 18.49 percent to 28.49 percent). Note that a 3 percent intro balance transfer fee (minimum $5) will apply on transfers completed within the first four months of account opening. After that, a 5 percent balance transfer fee (minimum $5) applies.
As for everyday rewards, you’ll earn 2X points at supermarkets and gas stations (on up to $6,000 in purchases per year, then 1X points) and 1X points on all other purchases. You can also earn a welcome bonus of 25,000 points (worth $250) when you spend $1,500 within three months of account opening. Additionally, Citi will round up all your rewards to the nearest 10X points, meaning a $3 coffee will net you 10X points. Plus, this card comes with Citi Entertainment access and Mastercard benefits.
FAQs for Citi balance transfers
Citi doesn’t list any explicit limitations on how often you can transfer balances from other cards to a Citi credit card. However, the amount of debt you transfer (plus balance transfer fees) cannot exceed the available credit limit of your Citi credit card.
You cannot transfer a balance from one Citi credit card to another Citi credit card. If you have debt on a Citi credit card that you want to consolidate, you should consider the top balance transfer credit cards from other issuers (like Wells Fargo, Discover and Bank of America).
Citi balance transfers do not qualify for rewards. Only purchases made with your card qualify for cash back or rewards points.
The bottom line
Citi offers some of the best balance transfer cards available today. None of the Citi credit cards we have highlighted charge an annual fee, and they all extend intro APR offers for well over a year. With that much time to pay down debt interest-free, you could make a huge dent in your debt — or even pay it off for good. Before you select a card, make sure to compare all of the top balance transfer cards on the market to find the right card for you.