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Established Contributor
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Registered: ‎10-16-2010
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Thoughts on Citi Simplicity?

Whenever I go to the bank, I'm offered the Citi Simplicity. The tellers/personal bankers tell me that I'm already approved and that I can have 0% BT and 0% on purchases for 18 months. I've been thinking about doing it towards the end of the year. What do you guys think about the card in general and the offer?


Starting Score: 760
Current Score: 716 Equifax 754 TU 736 Experian
Goal Score: 760
Established Contributor
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Registered: ‎06-12-2012
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Re: Thoughts on Citi Simplicity?

[ Edited ]

What does your current portfolio of cards look like? I believe there are better choices for someone with scores > 720 but if you have high balances on your other cards this would be a great way to consolidate them onto one extended 0% APR card. However if you PIF every month and rarely revolve balances like I do then it may not be worth it to you.

 

EDIT: After thinking about it I have decided that the Discover IT card is a better choice. It too has 0% APR/BT for 15 months (comparable) AND it includes the 5% rotating rewards categories unlike the Simplicity. Plus Discover has superior CSR's compared to Citi. The only advantage of the Simplicity is that Citi is known to be much more lenient with initial CL's.

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Established Contributor
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Registered: ‎10-16-2010
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Re: Thoughts on Citi Simplicity?


Jlu wrote:

What does your current portfolio of cards look like? I believe there are better choices for someone with scores > 720 but if you have high balances on your other cards this would be a great way to consolidate them onto one extended 0% APR card. However if you PIF every month and rarely revolve balances like I do then it may not be worth it to you.

 

EDIT: After thinking about it I have decided that the Discover IT card is a better choice. It too has 0% APR/BT for 15 months (comparable) AND it includes the 5% rotating rewards categories unlike the Simplicity. Plus Discover has superior CSR's compared to Citi. The only advantage of the Simplicity is that Citi is known to be much more lenient with initial CL's.


Right now, my portfolio of cards is pretty nice (in my opinion). I have two Citi AAdvantage cards with a CL of $5K each, an Old Navy card with a CL of $5K, an AMEX with a CL of $10K, BOA with $2500 and BOA with $3500. Those are the main ones. I also have CCs with smaller balances. My scores have dropped a bit and are not as high as the ones in my signature. I am carrying a few balances so I'm thinking about upping my scores a bit and in December or January adding the new card. 


Starting Score: 760
Current Score: 716 Equifax 754 TU 736 Experian
Goal Score: 760
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Re: Thoughts on Citi Simplicity?

The simplicity is a great choice for people who routinely carry balances. It is designed to compliment, not compete with, rewards cards. You will typically have a lower interest rate than with rewards cards. Citi will also reward your long term loyalty with large credit limits and progressively lower interest rates. Even if you only use the card for the 18 months at zero percent, it is still an 18 month zero interest loan. Unless one of your boa cards is a low interest card, I think it would compliment your current spread nicely.

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