![]() Check out our full review of the Citi Double Cash for more details. The card earns 2% back on every purchase (1% when you buy plus 1% as you pay). Like the Citi Simplicity, it does not have an annual fee. If you'd like to earn cash back or reward points plus have a low intro rate for balance transfers, the Citi Double Cash ® Card is a great option.5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply).1.5% cash back on every purchase, every day.Related: Understanding Credit Card Application Rules and Restrictions Cards That Compete With the Citi Simplicity For application frequency, you can only apply for one personal card per eight-day period and only two cards in a 65-day period. Instead, it restricts the combined total credit limit extended across all of your Citi cards. There does not seem to be a 48-month restriction, like Citi's ThankYou Points-earning cards or AAdvantage cards have, likely due to the fact that the Citi Simplicity does not earn rewards or have a welcome bonus.Ĭiti doesn’t have a stated rule on the number of cards you can have. However, what constitutes a new account is unclear. The application states “This offer is valid for new accounts only” and that Citi will be make the final determination about an applicant's eligibility. There are no redemption options since the Citi Simplicity does not earn rewards. Related: An Introduction to the Types of Reward Points Redeeming Rewards With the Citi Simplicity For trips outside the U.S., you should use a card with no foreign transaction fees. It also has a 3% foreign transaction fee, making it a poor choice for use during international travel. If you're looking to earn cash back or points and miles for travel by using a card to pay for your everyday spending, then this card may not be the best option for you. ![]() The Citi Simplicity does not earn any rewards on spending. In order to help you pay on time (even though there's no late fee), Citi lets you choose a date to pay your bill in the beginning, middle, or end of the month. This can adversely affect your credit score. However, late and missed payments may still appear on your credit report. Though you shouldn't make a habit of paying your bill late, you will not be penalized by late fees or an increased interest rate. The Citi Simplicity can get you out of trouble when you run into financial hurdles that cause you to miss your payment due date. Related: A Beginner's Guide to Building Healthy Credit No late fees or penalty APR For example, if you have the option to transfer a $5,000 balance to the Citi Simplicity with a 5% balance transfer fee or transfer to the Amex EveryDay ® Credit Card, which charges a balance transfer of the greater of $5 or 3%, you would save $100 by choosing the Amex card. Just keep in mind that there are fees on balance transfers. When compared to other balance-transfer cards that charge a 3% fee, the 5% fee on amounts transferred after the first four months can really add up. If you find yourself struggling with high-interest credit card debt, or you have a change of circumstance that affects your ability to pay off your card in full, you can transfer the balance to the Citi Simplicity and have 21 months to pay the debt off before you are required to pay interest. The intro 0% APR on balance transfers is also a great benefit if you have existing debt to pay off. After the introductory period, you'll pay a variable rate of 19.24% - 29.99. However, you can take advantage of the 12 months 0% introductory APR (annual percentage rate) on purchases to finance large items that may take a few months to pay off. The Citi Simplicity doesn’t provide traditional rewards, like cash back or travel points. Learn More: How Does a Credit Card Sign-Up Bonus Work? Citi Simplicity Benefits 0% introductory APR on purchases A 5% balance transfer fee is a fair bit higher than many of the cards on our list of the best 0% APR credit cards for balance transfers. After that, 5% of each transfer ($5 min). Balance transfer fees go up after an introductory period: Intro fee 3% of each transfer ($5 min) completed within the first 4 months of account opening. While the length of the introductory APR period is an important factor, you should always include the balance transfer fee in your calculation. For purchases, you’ll get a 0% introductory APR for 12 months (then a Variable APR of 19.24% - 29.99). The Citi Simplicity does not have a welcome bonus, but it boasts one of the longest 0% introductory APR offers for balance transfers at 21 months (then a Variable APR of 19.24% - 29.99).
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