Citi Simplicity® Card review: A no-fuss balance transfer card

The BankAmericard credit card offers a 0 percent intro APR period for 18 billing cycles on purchases and balance transfers made in the first 60 days, with a 16.24 percent to 26.24 percent variable APR thereafter (a 3 percent balance transfer fee applies). While this is a shorter intro APR period on balance transfers, the BankAmericard comes with a longer intro APR offer on new purchases and a lower ongoing interest rate than the Citi Simplicity card, making it the better choice for purchases both during and after your introductory period. 

The Wells Fargo Reflect card should offer plenty of breathing room if you need to pay off debt or finance large purchases. While the Reflect card and the Citi Simplicity carry a similar intro APR offer on balance transfers, the Wells Fargo Reflect has the edge on new purchases thanks to its longer intro APR on new purchases. 

The card has a 0 percent intro APR for 21 months from account opening on both new purchases and on qualifying balance transfers made within 120 days of account opening (then a variable APR of 18.24 percent, 24.74 percent or 29.99 percent). Unfortunately, though, a 5 percent balance transfer fee (or $5 minimum) also applies, which is on the high side for a balance transfer card.

If you don’t anticipate an influx of new purchases, the Simplicity card might be all you need to manage your debt and ongoing credit card use. Plus, it doesn’t charge late fees or a penalty APR for late payments, making it a better choice if you’re not the most practiced credit card user and need to ease your way into a regular payment schedule.

The Citi Simplicity is a good choice for anyone learning to manage their credit cards and tackle their debt. If you are someone who may end up paying late, the Simplicity card’s lack of late fees and penalty APR make it one of the most forgiving balance transfer cards.

The intro APR offer on balance transfers with the Citi Simplicity is great, but the intro APR offer on purchases compares poorly to the competition. Someone who mainly wants to transfer a balance with Citi and not necessarily make a large purchase will get what they need from the Citi Simplicity card. 

It would be best to pair the Citi Simplicity with a card that earns rewards and doesn’t charge an annual fee. The Capital One Quicksilver Cash Rewards Credit Card (See Rates and Fees) lets cardholders earn unlimited 1.5 percent cash back on all purchases. It’s a great pair with the Simplicity card because it doesn’t require tracking categories, is affordable and rewards a modestly boosted flat rate for all purchases.

The primary factor in a balance transfer or low-interest card’s rating is the quality of its introductory APR offer and ongoing APR. This includes both the introductory rate itself and the length of the intro APR on both balance transfers and new purchases. 

For cards designed primarily for balance transfers, the intro APR offer on balance transfers has the largest impact on overall score. The quality of these cards’ intro APR on new purchases is also considered, but holds less weight than the intro APR on balance transfers. 

For general low-interest cards, the intro APR offer on new purchases has the largest impact on overall score, followed by the ongoing APR and intro APR offer on balance transfers. This weighting assumes cardholders considering a card in this category will prioritize payment flexibility on new purchases or may need to carry a balance long term, whereas cardholders trying to pay off debt will opt for a dedicated balance transfer card.

The cards that score the highest in these categories tend to offer long 0-percent intro APRs on both balance transfers and new purchases as well as a lower-than-average low-end APR. 

Along with evaluating each card’s intro APR offers, we score balance transfer and low-interest cards based on their fees. 

Of primary importance is a card’s balance transfer fee, since this can play a large role in the total cost of a balance transfer. We rate each card’s balance transfer fee based on how it stacks up against the fee you’ll find on competing cards. 

While this fee carries less weight when we assess general low-interest cards than dedicated balance transfer cards, it still factors into our evaluation since cardholders may decide to transfer debt to a low-interest card even if it offers no intro APR or an intro APR higher than 0 percent.

And while a lower balance transfer fee could save you more overall than a few extra months of 0-percent intro APR, this fee carries less weight in our scoring system than a card’s introductory APR and intro APR period. This is because many users prioritize getting as much time as possible to pay off debt while avoiding interest. 

Our ratings also factor in the presence of annual, foreign transaction, cash advance and late payment fees, along with penalty APRs. Annual fees are weighted most heavily since these are the only “unavoidable” fees in the list and tend to be less common on dedicated balance transfer and low-interest credit cards.

While getting a generous intro APR offer and low ongoing APR are likely to be the biggest priorities for someone looking for a low-interest or balance transfer card, we also consider how much value a card can offer after its intro APR comes to an end. 

Balance transfer and low-interest cards receive a higher rating if they also include an ongoing rewards program or unique and valuable perks. Such features make a card more useful long term and make it less likely you’ll need to apply for a new card (and temporarily hurt your credit score) after you pay off debt.

Because we suggest having a good to excellent score when applying, the Citi Simplicity may be difficult for some to obtain. However, if you maintain a good score and have a good credit history, your chances of Citi approving your application may be higher. If you have a lower score or have had issues keeping up with credit card payments, it could be better to look at credit cards that require fair to good scores or a starter card to help build up credit.

The process can take up to three weeks after account approval. We recommend checking your previous account as usual, as you will still need to make payments until the transfer is complete. If the transfer is still incomplete after four weeks, you can call Citibank’s customer service to check where you are in the process.