Citi Simplicity® Credit Card Review

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Citi Simplicity® CardOne of the latest credit cards to make a splash in the world of plastic transactions is the Citi Simplicity® card. With a long introductory period for the 0% APR on purchases and balance transfers for 18 months, and no over the limit fees or late payment fees, Citi Simplicity® offers something unique in the credit card universe.

While there are definite advantages to the Citi Simplicity® card, including no annual fee, it does not come with a rewards program. So, the card, while offering a lot to some individuals, is not the best choice for others. Here is a rundown of the new Citi Simplicity® credit card:

Citi Simplicity® Features

Just as the name suggests, the Citi Simplicity® credit card is fairly straightforward. There is no rewards program, so you won’t get bogged down in those types of details. Other features include:

  • No fees for late payments or going over the limit: I’ll give you a few seconds to read that again. Yes, you read it right. Citi won’t be charging you fees if you pay late, or if you go over the limit. That alone can save some hundreds of dollars a year. (I wouldn’t be surprised, though, if repeat offenders end up with their accounts being closed.) Realize, though, that your late payments and over the limit transgressions will still be reported to the credit bureaus and influence your credit score.
  • No penalty interest rate: Your interest rate won’t be jacked up if you are late, or go over the limit.
  • 18-month introductory rate: When was the last time you saw an intro rate longer than nine months? This 18-month 0% APR is a god-send for those trying to pay down their debts. The variable rate after the introductory period will vary.
  • Fraud protection: You will have $0 liability for purchases made fraudulently. If you want to shop online with a virtual number, Citi will provide one connected to your credit account, protecting you from hackers.
  • Travel benefits: There are a number of perks offered by the Citi Simplicity® card. Lost luggage coverage, trip cancellation coverage, and rental car collision loss/damage are all included with the card.

Who is the Citi Simplicity® Credit Card For?

In most cases, the Citi Simplicity® card will benefit someone trying to pay down his or her debt. The card, with its 0% APR for 18 months, and its forgiving policy if you are late with a payment, offers a situation in which someone with credit card debt can make solid headway. The Citi Simplicity® card is ideal for someone living paycheck to paycheck, looking for a way to better his or her financial circumstances. Make on time payments, and use it as a way to slay your credit card debt, and the Citi Simplicity® credit card can be a helpful tool in improving your credit score.

On the other hand, someone with good credit already, and who doesn’t carry a balance, may not benefit as much from the Citi Simplicity®. If you are a super credit card user who likes to take advantage of rewards programs to get cash back, free travel and other perks, the Simplicity® card won’t fulfill your needs.

{ 9 comments, please add your thoughts now! }

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9 Responses to “Citi Simplicity® Credit Card Review”

  1. Jonathan Ira says:

    I am always suspicious of 0% credit card offers. These offers started after a “consultant” advised credit card companies that most people will, sooner or later, pay late of default on one of the 0% offer’s terms of use. At that point the interest rate goes into very high interest default mode, and the credit card company makes up any interest they lost during the 0% term.

  2. Shirley says:

    I think I would recommend this card only for people with LOTS of self-control who are earnestly trying to pay down debt.

    For others, if there is no consequence for late or missed payments, there is no incentive to be on time and nothing productive is learned.

  3. skylog says:

    while i would pass on the card, there is no doubt the 21 month intro period is certainly attractive to someone who needs to pay down some debt from another high-rate card.

  4. Michael says:

    It’s not true that Citi will not jack up your rate. I’ve had Citi for 12 years and I always pay my bills. My credit score is 800. I was late on a couple of very small payments when I misplaced the staement and forgot about it. Rate went up to 23.9% before I was ever late, now 29.9% This is common practice with them, read the complaint boards, good customers with good credit. They are merciless. “your interst rate won’t be jacked up if you are late” is pure bunk. Always use auto pay as a backup. Citi puts up a front, but they are ruthless with good honest customers

    • JWH3RD says:

      Your story sounds bogus. Your reported credit score seems dubious since misplacing bills is a sure sign of irresponsible consumer behavior. In addition, making a broad and sweeping statement based upon only your experience is illogical.

  5. Jennifer says:

    I’m trying to build a house and need some extra cash handy – this will come in perfect. For the person that says Citi will jack up the rate – yeah, eventually they’ll have to. But with a Simplicity card they’ll cut you a break at least to a certain point. I don’t think the Simplicity was around 12 years ago – so the same wouldn’t apply to your card.

    I think most credit card companies will jack up payments if they can. The one good thing I”m looking at with this one is the 21 month 0 apr.

  6. foxi2u says:

    I believe this new card is a good deal for people who need a new start to build their credit. As far as the interest rate….what does it matter as long as you pay your bill on time you won’t be charged that interest rate fee. “duh”…some people just don’t think! The whole point is to give you a chance to rebuild your credit worthiness. If you don’t intend to use the card as it is intended, then you don’t need any credit cards in “my Opinion”. Some people just charge up their card..then can’t pay it, are late..they end up paying high interest charges..that’s their fault! Self Control is the big issue with any credit card. I certainly like their offer and believe it will help many people..others will only take advantage and they’re just messing their own finances up and credit up when they take advantage.

  7. Graceland says:

    Ok I can speak to this exact card offer – recently got my card and I thought the same as people here – sounded too good to be true; well I was late by about a week due to illness and guess what? Credit limit was downgraded to existing balance (i.e. effectively shuts account off for further use), AND they took $127 from my Thankyou Reward account ….. so you tell me, when they say there are no penalties, late fees etc you can put that in a pipe and smoke it cos obviously they will try everything else they can do to unscrupulously and unethically steal money from you … I don’t mind the downgrade (but would prefer they say what the penalty is upfront) but to then steal $127 dollars that I earned based on a purchase is not right …. if you are considering this card, STAY AWAY … this just happened after first few statements, hate to see what a long term relationship with them looks like …. STAY AWAY you have been warned

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