After a multi-year hiatus, the Citi Simplicity® card has been retooled and relaunched. The new Citi Simplicity® card retains many of its former features – it has no annual fee, no late fees, and no over the limit fees – while incorporating a few new benefits, the most notable of which is an interest rate that will not increase when consumers miss a payment or spend beyond their credit limit. These features are complimented by an ultra-long 0% introductory rate on both purchases and balance transfers that lasts 18 months* – presently the longest 0% APR promotion being offered by any credit card company.
Who Can Benefit from the Citi Simplicity® Card?
The Citi Simplicity® card is clearly targeted towards consumers who want a no frills credit card that offers protection against late fees and the interest rate increases that often accompany them. The Citi Simplicity® card’s terms and conditions are very much in line with the card’s name. A low variable interest rate that only increases with the Prime Rate is offered to all approved applicants as is the aforementioned 18 month 0% introductory period that covers balance transfers and new purchases*. This is a departure from other cards, all of which reserve the right to raise interest rates on future purchases.
Citi Simplicity® vs. Other Citi Credit Cards
The Citi Simplicity® card is extremely similar to the Citi® Diamond Preferred® Card. Both cards offer industry leading 0% rates on purchases and balance transfers that last 18 months* and carry no annual fees. With the Citi Simplicity® card, however, consumers get the added benefit of direct access to customer service representatives. This quality of life feature – also available on the high end Chase Sapphire ® Card – is one that any consumer who regularly needs to speak to a live person should appreciate.
Final Thoughts on the Simplicity® Card
As far as value credit cards go, the Citi Simplicity® card is an industry leader. Citibank is the only credit card company currently offering generous, 18 month 0% rates on both purchases and balance transfers*. And, although they do offer an interest rate that can potentially be 1% lower on the Citi® Diamond Preferred® Card, the Citi Simplicity® card is the only offer on the market that waives late fees and provides protection against interest rate increases.
Ultimately, choosing between Citi’s two value cards is like flipping a coin. If you have excellent credit and want a marginally lower interest rate, then the Diamond card is the best option. However, if you want protections against fees, direct customer service access, and don’t want to risk getting a potentially higher rate in the future, then Citi Simplicity® is likely the best bet.
For additional information, please see the online application here.