Best Balance Transfer Credit Card for Long-Term Use

Citi Simplicity® Card
  • Generous with fees
  • A long 0% introductory APR promotion
  • You can set your own due date
Learn More
On Card Issuer’s Secure Website
Card attributes
  • Variable APR
    15.49% - 25.49%
  • Cash Advance APR
    15.49% to 25.49%
  • Rewards Rate
    n/a
  • Annual Fee
    $0
  • Intro APR
    0% on purchases and balance transfers for 18 months
  • Bonus Offers
    n/a
Highlights
  • The ONLY card with No Late Fees, No Penalty Rate, and No Annual Fee…EVER
  • 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness*
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day – just say “representative”
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month

  • No late fees or penalty APR
  • No annual fee
  • A 0% introductory APR on purchases and balance transfers for 18 months
  • No rewards program
  • High balance transfer fee
Details

Application Process: Apply online and get a response within 60 seconds.

Bonus Offers: None.

Rewards: None.

APR: 0% on purchases and balance transfers for 18 months. Then 15.74% - 25.74% variable.

Annual Fee: None.

Faveable Review

In the world of low-interest credit cards, the Citi Simplicity® Card stands out as one of the best. It offers one of the longest introductory 0% APR periods for both new purchases and balance transfers, and also throws a few extra minor perks into the mix.

That said, the card is remarkably one-dimensional, and likely won’t offer you much value after the initial interest rate promotion. Read on to learn more about the Citi Simplicity® Card, what makes it one of the best in its class, and whether it’s right for you.

Citi Simplicity® Card highlights

The Citi Simplicity® Card honors its name by sticking to what it does best: helping people pay down credit card debt interest-free.

You can do this in one of two ways:

  • Make purchases during the first year and a half with the card and pay no interest as long as you make at least the minimum payment each month.
  • Transfer a balance within the first four months of having the card and pay no interest as you pay it down over 18 months.

The card also has some other perks that you won’t get with every card, namely no penalty APR and no late fees. These can be handy if you have a history of missing payments.

But don’t let the benefits lull you into a false sense of security. Paying your credit card bill late can hurt your credit if you’re not careful, and it can also void your 0% APR promotion.

Citi Simplicity® Card rewards and perks

The Citi Simplicity® Card doesn’t offer rewards on every purchase like some other 0% APR credit cards. Instead, it offers a 0% APR promotion on both purchases and balance transfers for 18 months — the longest you’ll get with most other similar cards is 15 months.

To give you an idea of how much you can save with this card, consider the following scenario: you owe $15,000 on your current credit card and have a 15% interest rate.

Let’s say you have a plan to pay it off in 18 months. If you keep it on your current card, you’d have a monthly payment of $936, and you’ll pay $1,844 in interest over a year and a half.

If you transfer the balance to the Citi® Simplicity, however, you’ll pay an upfront balance transfer fee of $750 and no interest at all. Your monthly payment will also be lower at $833 per month.

In addition to the 0% APR promotion, the card also offers access to Citi Private Pass, which has some valuable perks. For example, you can get VIP access to your favorite sporting events and concerts, and even get a chance at presale tickets before they are available to the public.

You could also get special dining experiences and complimentary movie screenings. You won’t get notifications for this, however, so you’ll need to be on top of your game if you want to benefit from it.

Citi Simplicity® Card benefits

As mentioned previously, the Citi Simplicity® Card isn’t packed with perks like some other credit cards. That said, the lack of a penalty APR and late fee could be beneficial for some people.

The other benefits the card offers are pretty standard among credit cards, including:

  • Identity theft solutions
  • EMV chip technology
  • Zero liability for fraudulent purchases
  • 24/7 customer service
  • Choose your due date
  • Automatic account alerts
  • Apple Pay

In other words, this card is sort of a one-trick pony — it’s good at what it does, but that’s about it.

Citi Simplicity® Card costs and fees

The main fee you may have to deal with on this card is the balance transfer fee. Citi charges 5% of the transferred amount with a $5 minimum. In some situations, the balance transfer fee could be high enough to eliminate the benefits of the 0% APR promotion.

The card doesn’t charge an annual fee, and we’ve already mentioned the penalty APR and late fee situation.

While it offers an introductory 0% APR promotion, the card’s ongoing APR after the promotion ends is high, so it’s not wise to carry a balance on this card.

Does the Citi Simplicity® Card make sense for me?

The Citi® Simplicity Card is a solid choice if your priority is paying no interest. This card could be a great option if you’re moving, starting a home improvement project, or have some other major expense coming up.

It can also be worth it if you want to eliminate high-interest credit card debt.

But this is not the only 0% APR credit card. There are others, like the Chase Freedom Unlimited®, that offer a 0% APR promotion and rewards. And the Amex Everyday Credit Card from American Express offers a long 0% APR promotion, rewards, and a waived upfront balance transfer fee.

Before you apply for this or any other credit card, it’s essential to compare it with other cards in its class. This includes 0% APR credit cards and balance transfer credit cards. As you do your research, consider every aspect of these cards and pick the one that best suits your needs and preferences.

Get the card that gives you the most value for your specific time horizon, whether that’s long-term or short-term. As your needs change, you can always apply for a different card in the future.

Join the conversation: Citi Simplicity® Card

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