How to do a balance transfer with Citi

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With over 200 years of experience, Citi offers an array of investing, banking and loan products that range from high-yield savings accounts to mutual funds, home loans and personal loans.

As of 2019, Citi also has solutions to some of today’s most common debt issues — boasting some of the best balance transfer credit cards on the market. Not only do a few of these cards let you secure an introductory period with zero percent APR for up to 18 months or more, but some come with cash back and other desirable perks.

Finding the right card and knowing how to successfully do a credit card balance transfer are essentials on your journey to financial freedom. Here’s a breakdown of what to know about Citi balance transfer cards and some tips to relieve yourself of debt efficiently.

Best Citi balance transfer credit card offers

Citi offers cards with various different benefits, including cash back, travel points or discounted balance transfer offers. Consider the different factors that make up each of the options below to find the best Citi credit card for your balance transfers:

Citi Simplicity® Card

Balance Transfer Offer: zero percent APR on balance transfers for the first 21 months (variable 14.74 to 24.74 percent thereafter)

Balance Transfer Fee: 5 percent (minimum $5)

Rewards: None

Annual Fee: $0

Credit Required: Good to Excellent (670 – 850)

Why should I balance transfer with the Citi Simplicity® credit card?: Offering 21 months interest-free on balance transfers, this card features one of the most generous balance transfer welcome periods on the market. Additionally, it comes with no late fees, no penalty APR and the Citi Price Rewind feature — a way to be refunded the difference if you find a cheaper price after already purchasing an item.

Citi Rewards+℠ Card

Balance Transfer Offer: zero percent APR on balance transfers for the first 15 months (variable 13.49 to 23.49 percent thereafter)

Balance Transfer Fee: 3 percent (minimum $5)

Rewards: 2X Citi ThankYou Points at supermarkets and gas stations (up to the first $6,000 per year, then 1X), plus 1X points on all other purchases

Annual Fee: $0

Credit Required: Good to Excellent (670 – 850)

Why should I balance transfer with the Citi Rewards+ credit card?: In addition to being welcomed with an introductory zero percent interest period on balance transfers, this card gives you access to 15,000 bonus rewards points after spending $1,000 in your first 3 months. You’ll also receive 10 percent points back on the first 100,000 you redeem each year and the lesser transfer fee may be a savior when moving your balance. Better yet, enjoy no interest on purchases for the first 15 months (variable 13.49 to 23.49 percent thereafter).

Citi® Double Cash Card

Balance Transfer Offer: zero percent APR on balance transfers for the first 18 months (variable 13.99 to 23.99 percent thereafter)

Balance Transfer Fee: 3 percent (minimum $5)

Rewards: 2 percent cash back on all your spending — 1 percent as you make the purchase and 1 percent when you pay your balance

Annual Fee: $0

Credit Required: Good to Excellent (670 – 850)

Why should I balance transfer with the Citi® Double Cash credit card?: With an 18-month introductory balance transfer window and a 3 percent balance transfer fee, this card may be the top option when it comes to transferring a balance. The straightforward cash back rewards are unlimited, making this a great option for any wallet — just be sure to pay off your balance to earn the extra 1 percent.

How to do a balance transfer with Citi

Before deciding on any card, do your research to be sure it fits your financial needs. Consider the benefits, APR period, fees associated and anything else that could impact your wallet.

If you’re in debt and have decided to go through with a balance transfer with one of the options above, the process isn’t difficult. When opening a new account, you’ll be given a chance to transfer a balance from an existing card during your application process. To initiate the transfer, provide the amount you’re looking to move as well as the necessary information on your other account.

If you have a new Citi balance transfer credit card

Start an application for your preferred Citi balance transfer card. During the application process you’ll see an option to transfer a balance from an existing credit card account. Select “Transfer a balance” to move on. Provide the information required about the account you’re transferring from and enter the amount you’re looking to transfer.

Keep in mind that your application could be denied and there’s no guarantee that, even if approved, your desired transfer amount will be moved. Citi has to check your creditworthiness to determine whether you’re a suitable cardholder and how much you’d be eligible to transfer.

If you have an existing Citi balance transfer credit card

To take advantage of the introductory APR on a Citi balance transfer card you must transfer balances within the first four months of opening the account. To proceed, log in to your Citi account and select the “Account” page, then select “Transfer a balance.” Enter information into the required fields – you’ll need the account details for the account you’re transferring from and the amount you’d like to transfer. You can also contact Citi customer service and request a transfer over the phone. Call the number on the back of your card and have your other account information handy.

Next steps: what to know after completing a balance transfer with Citi

With Citi, your balance transfer will take up to three weeks to complete, so keep a watch on your old account and make payments until it shows zero balance. You probably want to avoid canceling your old credit card, but it’ll depend on your situation.

When getting started on your budget, you may want to use Bankrate’s balance transfer calculator to see how much you should pay per month to eliminate your debt before the interest charges set in.

Frequently asked questions

What type of balances am I able to transfer with Citi?

You can transfer credit and store card debt, as well as personal and auto loans (in certain cases) to a Citi card. You cannot move a balance from one Citi credit card to another.

How much debt am I able to transfer with Citi?

The amount you transfer plus the associated fees can’t exceed the available credit limit of your Citi credit card.

Where can I check the status of balance transfers on Citi?

Your balance transfer details and history can be found on your Citi online banking account page.

Can balance transfers be partially approved?

Yes. Depending on your creditworthiness Citi may only approve a certain percentage of the transfer amount you request. The remaining balance will remain on your original card.

What circumstances may cause my balance transfer to be declined?

Your request could be declined if your account is past due or over limit, you request more than the maximum transfer amount allowed, Citi believes that you will be unable or unwilling to repay the balance, or for any other reason specifically stated in your credit card agreement.

Do balance transfers qualify for rewards?

The Citi Rewards+ and Citi Double Cash won’t always reward you for transferring a balance, but keep an eye out for Citi promotions where they give a little extra for executing a balance transfer.

How to do a balance transfer with different issuers