Citi Simplicity 0% Credit Card Review
Stop Paying Interest,Transfer Your Balance
I hate credit cards, so when I use them, I only use cards with zero percent interest. I ride out the free interest period until the end and transfer the balance to another zero percent card before interest on the old card kicks in. I have never paid interest on a credit card doing it that way. Recently, I was approved for the Simplicity Visa card and I was able to do a balance transfer.
Simplicity is probably one of the best zero percent credit cards available by Citi. In the past, I used Chase credit cards, but there are too many fees and the zero percent interest period with Chase cards usually don't last longer than twelve months. Citi cards usually provide longer periods of no interest. Getting approved for their cards is difficult sometimes, but it's worth applying.
The Citi Simplicity card comes with zero percent interest on purchases and balance transfers for the first 18 months. After the introductory period ends, the APR falls between 13% to 22%, depending on your credit status. If you like getting rewards, or cash back, this isn't a good card, but it's a great card if you're looking to transfer a balance over from another interest credit card.
No Hidden Fees
Previously, I had been using the Chase Slate card, but it had fees and penalties. If you accidentally make a late payment, you can lose your zero interest privilege and get charged a high rate not long after. Several banks, including Chase, charge late fees, which is usually $35, but it can be greater.
The Citi Simplicity card doesn't have any fees or penalties for making a late payment. When you transfer your balance over, you'll be charged 3% of the balance total, but that's normal with most credit cards and there's no way around it.
Simplicity comes with a cool extended warranty feature that can save you money. Basically, if you make a purchase and the retailer is offering you an extended warranty that will cost more money, Citi will give you the extended warranty coverage for up to twelve months if it's a qualified purchase.
Citi also provides price protection on this card for up to $250. If you make a purchase and then the product price decreases within 60 days from the purchase, Citi will give you the difference in price. That's a pretty rare credit card feature and a nice added benefit.