Learn how to apply for the Citi Simplicity® Card
If your goal is to avoid high interest rates and pay off your obligations, you can consider applying for this card.
What do I need to know about the Citi Simplicity® Card?
The Citi Simplicity® Card is an option for customers searching for a long-term balance transfer card or those preparing to make a big purchase.
On purchases made after account opening and balance transfers beginning on the date of the first transfer, the card offers 0% intro APR for 12 months.
After that, the variable APR will fluctuate between 17.74% and 28.49% depending on your creditworthiness.
There is an initial balance transfer fee of $5 or 3% of the transfer amount, whichever is higher, for transfers made within four months of account opening.
After that, a fee for balance transfers of $5 or 5% of the total value of each transfer, whichever is higher, is imposed.
The Citi Simplicity card is a straightforward, annual-fee-free card that works best for balance transfers while the promotional 0% APR rate is in effect.
Customers searching for a rewards program should go elsewhere because the card does not have one.
The comparatively long introductory 0% APR period for the Citi Simplicity Card is an appealing factor for consideration for customers searching for a straightforward debt management card.
A card like Citi Simplicity could help reduce the burden of debt buildup rather than becoming caught in an endless loop of minimum payments and interest fees.
Who can apply for the Citi Simplicity® Card?
You must be within the bank’s established age range in order to apply for a Citibank credit card. The candidate must be at least 18 years old.
Anyone who is younger than this age range is eligible to apply for a credit card from Citibank. The primary credit cardholder must be at least 18 years old.
To receive a credit card from Citibank, the customer must provide documentation of a reliable source of income. You have the option of working as a salaried employee for an existing business or as a self-employed professional running your own enterprise.
Also, this is a card for those with good credit scores, so you need to have at least 700+ to have a chance of applying for this card
How to apply for the Citi Simplicity® Card?
Like almost all cards these days, most part of the Citi Simplicity application is made online.
All you have to do is get on their websites and click on the “Apply Now” button and provide some personal information.
As stated, you need to provide some things in order to prove you have an excellent score and all the needs to apply for this card. Once you have done it, simply wait for your answer.
Is it worth it to have a Citi Simplicity® Card?
If you have debt on high-interest credit cards and want to move it to a card with a lower interest rate, the Citi Simplicity card is a great choice.
This card allows you to pay off your credit card debt without accruing any further interest fees for a generous 21 months following the date of your first transfer.
Consider carrying a $6,000 balance on a regular credit card to put it into perspective. The Federal Reserve reports that as of Q3 2021, the average assessed interest rate for credit cards was 17.13%.
If you were to pay that average rate over a 12-month period, you would have to pay back $6,576 in total, including $571 in interest.
Nevertheless, suppose you used the Citi Simplicity card to transfer the $6,000 balance transfer instead. A transfer fee of 5% of the balance, or $180, would be incurred. In contrast to your old card, the balance transfer would save you.
Citi Simplicity® Card vs Deserve® EDU Mastercard for Students
The Deserve® EDU Mastercard for Students is the best option if you are more of a student or if you know someone who needs a card without an annual charge and that may assist establish credit.
The Citi card, however, is for someone that is in another step of their lives, paying debts or wanting to make a large purchase.
Citi Simplicity® Card benefits
- Zero late fines
- No fines APR
- No yearly charge
- Deal for the introductory APR on purchases and debt transfers
Deserve® EDU Mastercard for Students benefits
- No annual fee
- Foreign transaction fees are not present.
- Phone security is one of the benefits.
- Does not require a Social Security number, making applications from international students possible.
How to apply for the Deserve® EDU Mastercard for Students?
If you got interested, check out our article on how to apply for the Deserve® EDU Mastercard right away!