Citi Simplicity® Card Review for 2023
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
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 APR on balance transfers for 21 months and purchases for 12 months. While it comes with no annual fee, it doesn’t offer a sign-up bonus or ongoing rewards.
If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Citi Simplicity® Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Startups who need a lengthy 0% APR period fund business expenses
Intro APR
0% for 12 months
Regular APR
18.74% to 29.49% variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Citi Simplicity® Card doesn’t offer any rewards for their new and existing cardholders.
Pros
- One of the longest 0% APR periods available
- No annual fee
Cons
- No rewards for new and existing cardholders
- Cannot build business credit
- Flexible payment due date: You can choose your preferred due date in the beginning, 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.
- Mastercard® Identity Theft Protection program: If you’re a victim of identity theft, this can help you resolve the matter.
- Zero liability protection: Zero liability protects you against unauthorized charges on your account. You won’t be responsible for a charge that you didn’t authorize.
- No additional fees: Citi® does not charge additional fees, such as late fees or penalty rate, on the Citi Simplicity® Card.
Intro APR
0% for 12 months
Regular APR
18.74% to 29.49% variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Citi Simplicity® Card doesn’t offer any rewards for their new and existing cardholders.
Pros
- One of the longest 0% APR periods available
- No annual fee
Cons
- No rewards for new and existing cardholders
- Cannot build business credit
- Flexible payment due date: You can choose your preferred due date in the beginning, 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.
- Mastercard® Identity Theft Protection program: If you’re a victim of identity theft, this can help you resolve the matter.
- Zero liability protection: Zero liability protects you against unauthorized charges on your account. You won’t be responsible for a charge that you didn’t authorize.
- No additional fees: Citi® does not charge additional fees, such as late fees or penalty rate, on the Citi Simplicity® Card.
When evaluating personal credit cards for business like the Citi Simplicity® Card, we first considered the introductory and ongoing annual percentage rates (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. That’s why this personal credit card made it to our roundup of the best business credit card balance transfer offers.
See our recommended alternatives below if this card isn’t the best fit for your business.
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
- Ongoing, balance transfers and 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
- Minimum interest charge: No less than $0.50
- Plan fee (fixed finance charge): Monthly fee of up to 1.72% will be applied based on the Citi Flex Plan duration
- Annual: $0
- Balance transfer: An introductory balance transfer fee of either $5 or 3% of the amount of each transfer will apply if you made 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.
- 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.
If you intend to transfer $10,000 in credit to your Citi Simplicity® Card, and this transfer went through within the first four months from the date of your account opening, then you’ll incur a balance transfer fee of $300 (3% of $10,000). To avoid being charged interest on this transfer, you’ll need to pay around $490 per month for 21 months.
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.
How To Make Payments on the Citi Simplicity® Card
- Online: Log in to your online account, then select the “make a payment” option. Then, indicate how much to pay, when the payment will be processed, and where the payment will be coming from.
- Citi Mobile® App: Similar to paying through the online portal, log in to your account, select your credit card, and click “Make a Payment.”
- Phone: Call (800) 950-5114 or the number found on the back of your card, enter your card information, and then follow the prompts to make a payment.
- In-person: Make a payment at the nearest Citibank branch during regular business hours.
- Mail: Send either a check or money order (but not cash) to the following address:
PO Box 9001037
Louisville, KY 40290-1037
- Overnight delivery/express payments: Send your check or money order (but not cash) to the following address:
Citibank Express Payments
6716 Grade Ln., Bldg. 9, Ste. 910
Louisville, KY 40213
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: This lets you 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: Citi® does not charge additional fees, such as late fees or penalty rate, on the Citi Simplicity® Card.
Protection
- Zero liability protection: This protects you against unauthorized charges on your account—you won’t be responsible for a charge you didn’t authorize.
- Mastercard® Identity Theft Protection Program: If you’re a victim of identity theft, this can help you resolve the matter.
- Automatic account alerts: You can 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: Cardmembers have access to 24/7 customer service if they have any concerns related to their credit card. Just call the number on the back of the card and say “representative” to access help from a live rep.
Citi Simplicity® Card Alternatives
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
0% APR for 15 billing cycles
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
Intro APR
Regular APR
18.99% - 27.99% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good
- Earn $500 in cash back. Just spend $4500 on the Account Owner's card in the first 150 days of opening your account.
- Earn 3% cash back on eligible purchases at gas stations and EV charging stations, office supply stores, cell phone service providers and restaurants.
- 1% cash back on all other eligible net purchases.
- Earn 5% cash back on prepaid hotels and car rentals booked directly in the Rewards Center.
- No limit on total cash back earned.
- Rewards never expire.
- Earn an annual $100 statement credit for recurring software subscription expenses such as FreshBooks or quickbooks
- 0% Intro APR on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 18.99% - 27.99%.
- No annual fee.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
- Pay over time by splitting eligible purchases of $100+ into equal monthly payments with U.S. Bank ExtendPay™ Plan.
Pros
- 0% APR applies to both purchases and balance transfers
- Unlimited cash back rewards
- No annual fee
Cons
- Balance transfer fee is charged even during the introductory period
- Intro APR doesn’t apply to cash advances
- MasterRental car rental collision damage waiver: When you rent a car using your U.S. Bank credit card, you’re covered in case of accident or theft on all rentals made worldwide. Coverage is primary, which means you won’t need to use your personal auto insurance or accept the insurance offered by the rental agency. Coverage is capped at $50,000.
- Purchase assurance: U.S. Bank may repair or reimburse for items purchased with your U.S. Bank business credit card that are damaged or stolen within 90 days of purchase. Coverage is limited to $1,000 per loss, up to $25,000 per year, per account. Lost items and items left out of reach that others can see are not covered.
- Extended warranty protection: U.S. Bank will double the manufacturer’s warranty up to an additional one year from the expiration of warranties of five years or less. An item with a six-month warranty would be backed for an additional six months, for example. The issuer will replace the item or reimburse you up to the amount charged on your U.S. Bank card up to $10,000.
- Is a great choice if you want both 0% introductory APR on purchases and balance transfers and cash back rewards
- Has a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles
- Does not charge annual fees
- Lets you earn 5% cash back on prepaid hotels and car rentals directly booked in the Travel Rewards Center, 3% cash back on eligible purchases at gas and electric vehicle (EV) charging stations, office supply stores, cellphone service providers, and restaurants, and 1% cash back on all other eligible purchases.
- Is in our roundups of the:
Bento for Business Visa® Debit Card
- Is an excellent option for those wanting to control their business spending, as it lets you issue different types of cards, depending on how each card will be used for your business
- Is free for the first 60 days after your application is approved; after that, a monthly subscription fee will be charged depending on the number of cards you need
- Does not charge setup, card load, interest charge, card issuance, domestic or international transaction, decline or overdraft, and cancelation fees
- Is one of our:
Emburse Spend Card
- Is a great option for those wanting a business prepaid card with rewards
- Offers unlimited 1% cash back on all purchases
- Does not charge fees for domestic transactions and adding virtual and physical cards
- Lets you deposit up to a maximum of $100,000
- Is in our lists of the:
See our guide to the best small business credit cards for more options.
Frequently Asked Questions (FAQs)
What’s the difference between personal and business credit cards?
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.
How long does the balance transfer process take with the Citi Simplicity® Card?
It will take between two and 21 days to process balance transfers.
What is the maximum credit limit for a Citi Simplicity® Card?
Your credit limit with 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.
