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Citi Simplicity® Card is a personal credit card designed for business owners who need to transfer a balance from another credit card. It features a 0% introductory Annual Percentage Rate (APR) on balance transfers for 21 months and purchases for 12 months. While it lets you enjoy $0 annual fees, it doesn’t offer a sign-up bonus or ongoing rewards.
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| Intro APR | 0% for 12 months on purchases; 21 months for balance transfers |
|---|---|
| Regular APR | 18.74% to 29.49% variable |
| Annual Fee | $0 |
| Credit Needed | Good - Excellent |
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When evaluating personal credit cards for businesses like the Citi Simplicity® Card, we first considered the introductory and ongoing APR. After which, we check if the card offers introductory and ongoing rewards and its standout features, such as purchase protection and extended warranty.
| Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
| Introductory APR | 35 | 35 |
| Ongoing APR | 28 | 35 |
| Features | 8 | 10 |
| Ongoing Rewards | 0 | 10 |
| Introductory Rewards | 0 | 10 |
| Total Score | 71 | 100 |
Who the Citi Simplicity® Card Is Best For
- Those who don’t need to earn rewards: It doesn’t have introductory and ongoing rewards on purchases.
- Those who need to pay an existing credit card debt: It offers a 0% APR on balance transfers for 21 months from the date of the first transfer, which is a much longer period than what other credit cards offer.
See
below if this card isn’t the best fit for your business.
Citi Simplicity® Card Rewards
Citi Simplicity® Card doesn’t offer any rewards for its new and existing cardholders. However, you can take advantage of the long introductory 0% APR period on both purchases and balance transfers to help you pay off your credit card debt. Additionally, this is the only Citi card that has no late fees, no penalty rate, and no annual fee.
Citi Simplicity® Card Features
Convenience
- Flexible due date: Pay your bill on any available due date at the start, middle, or end of the month. In addition, you have the flexibility of paying either the full balance or just the minimum payment due every month.
- Digital wallets: Shop with confidence in millions of online stores, within apps, and in-store. Using a digital wallet, you can speed through checkout and continue to enjoy all the benefits that come with this card.
- No additional fees: Be assured that Citi® does not charge additional fees, such as late fees or penalty rates, on the Citi Simplicity® Card.
Protection
- Zero liability protection: Receive protection against unauthorized charges on your account—you won’t be responsible for a charge you didn’t authorize.
- Automatic account alerts: Set up automatic account alerts to remind you about your balance levels, payments due, and when you go over your credit limit. You can be notified either by email or on your mobile phone.
Support
- 24/7 customer service: Secure access to 24/7 customer service if they have any concerns related to their credit card. Call the number on the back of the card and say “representative” to access help from a live rep.
Citi Simplicity® Card Fees
APR
- Introductory: 0% APR on purchases for the first 12 months from the date of account opening; 0% APR on balance transfers for the first 21 months after a transfer was made within four months from the date of account opening (with a minimum interest charge of no less than 50 cents).
- Ongoing: 18.74% to 29.49% variable—adjusts with the prime rate
- Balance transfer: 18.74% to 29.49% variable—adjusts with the prime rate
- Citi Flex Plan: 18.74% to 29.49% variable—adjusts with the prime rate
- Cash advance: 29.99% variable—adjusts with the prime rate
Fees
- Annual: $0
- Balance transfer: An introductory balance transfer fee of either $5 or 3% of the amount of each transfer will apply if you make a transfer within the first four months after account opening. After that, either $5 or 5% of the amount of each transfer (whichever is greater) will be applied.
- Plan fee (fixed finance charge): Monthly fee of up to 1.72% will be applied based on the Citi Flex Plan duration
- Foreign transaction: 3% of each purchase transaction in United States dollars
- Cash advance: Either $10 or 5% of the amount of each transaction, whichever is greater
- Returned payment: Up to $41
Your due date is at least 23 days after the close of each billing cycle.
- Online: Log in to your online account, click “Make a Payment,” and choose how much to pay, when to pay it, and where the payment will be coming from.
- Citi Mobile®: Log in to your account, select this card, and tap “Make a Payment.” Follow the prompts to make your payment.
- Phone: Call 866-696-5673 or the number found on the back of your card, enter your card information, and then follow the prompts to make a payment.
- Mail: Send either a check or money order (but not cash) to the following address:
Citi CardsPO Box 9001037Louisville, KY 40290-1037
- Nearest Citibank ATM: Go to the nearest Citibank ATM, which accepts cash payments of up to $3,000 per monthly credit card account. Visit Citibank’s location finder page to find one near you.
Citi Simplicity® Card Alternatives
U.S. Bank Triple Cash Rewards Visa® Business Card
| Intro APR | 0% intro on purchases for 12 billing cycles |
|---|---|
| Regular APR | 17.24% - 26.24% Variable |
| Annual Fee | $0 |
| Credit Needed | Excellent, Good |
Consider the U.S. Bank Triple Cash Rewards Visa® Business Card if you want a small business credit card that lets you earn up to 5% cash back in spending categories. This card also lets you enjoy $0 annual fees and the ability to divide large purchases into fixed monthly payments through the U.S. Bank ExtendPay® Plan.
Ramp Credit Card
| Intro APR | None |
|---|---|
| Regular APR | None |
| Annual Fee | $0 |
| Credit Needed | Poor to Excellent |
If you prefer a corporate charge card with a robust expense management system, then we recommend the Ramp Credit Card. This card also lets you earn 1.5% cash back on all purchases and lets you enjoy $0 annual and monthly fees.
Discover it® Cash Back
| Intro APR | 0% |
|---|---|
| Regular APR | 18.24% to 28.24% variable |
| Annual Fee | $0 |
| Credit Needed | Good - Excellent |
If you want an alternative personal credit card for business that lets you earn cash back rewards, then we suggest the Discover it® Cash Back. This card lets you earn up to 5% cash back in rotating categories each quarter, and a 0% introductory period on purchases and balance transfers for the first 15 billing cycles.
Frequently Asked Questions (FAQs)
While small business credit cards could function similarly to personal credit cards, there are two major things to consider:
- Credit reporting bureaus: Personal credit cards report to Experian, Equifax, and TransUnion and will affect your personal credit score if there are changes made to your credit limit, credit usage, and payment history. On the other hand, small business credit cards usually report to business credit bureaus and will have little impact on your personal credit score.
- Credit limits: While both cards consider your personal credit score and creditworthiness, most banks would need to consider both personal income and business revenue for your small business credit cards when determining your credit limit. On the flip side, personal credit cards only note your personal income for your credit limit.
Yes, Citi may give you the option to transfer a balance as soon as your Card Account is opened. Note that it will take at least 14 days after your Card Account is opened to process any balance transfer payments. Within this time period, you may cancel or make necessary changes with your balance transfer request by calling the number on the back of your card.
Your credit limit with a Citi Simplicity® Card could go as high as $5,000, depending on your credit history, income, and existing debts.
Bottom Line
Citi Simplicity® Card is an excellent option if you don’t need to earn rewards and want to pay existing credit card debts. It offers an interest-free financing option of 0% on purchases and balance transfers and doesn’t charge annual fees. However, it doesn’t provide any rewards for new and existing cardholders and won’t help you build your business credit.
Fit Small Business has partnered with CardRatings for our coverage of credit card products. Fit Small Business and CardRatings may receive a commission from card issuers.
