Citi Simplicity vs. Citi Diamond Preferred: It Comes Down to Fees

They both offer a long 0% intro APR period on balance transfers. But the Simplicity features a smaller balance transfer fee, plus late-payment forgiveness.

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Updated · 1 min read
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Written by Sara Rathner
Senior Writer/Spokesperson
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Edited by Kenley Young
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Fact Checked

If you're looking to transfer a credit card balance, you may have considered one of two Citi cards with nearly identical features:

Neither card offers rewards, but both feature lengthy promotional APR periods and the same $0 annual fee. And with either card, you'll get the Citi Entertainment® perk, which offers presale and VIP access to things like live events and dining experiences.

But there are a couple of primary differences that give the edge to the Citi Simplicity® Card. It offers a lower balance transfer fee, not to mention late-payment forgiveness.

In fact, the Citi® Diamond Preferred® Card can impose a penalty APR of nearly 30% that, according to the fine print, can be applied to you “indefinitely.” Yikes.

How the cards compare
Citibank Simplicity Credit Card
Citi Simplicity® Card
Apply now

on Citibank's application

Rates & Fees
Citibank Diamond Preferred Credit Card
Citi® Diamond Preferred® Card
Apply now

on Citibank's application

Rates & Fees
Annual fee
$0
$0
Sign-up bonus
$0
$0
Rewards
N/A
N/A
APR

0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months, and then the ongoing APR of 18.74%-29.49% Variable APR.

0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months, and then the ongoing APR of 17.74%-28.49% Variable APR .

Balance transfer fee
3% of each transfer (minimum $5) completed within the first 4 months of account opening, then 5% of each balance transfer; $5 minimum.
Balance transfer fee applies with this offer; 5% of each balance transfer; $5 minimum.
Late-payment forgiveness

Yes.

No.

Still not sure?

Citi Simplicity® Card: Forgiveness for the forgetful

Citibank Simplicity Credit Card
NerdWallet rating 

Off the bat, the Citi Simplicity® Card comes with a intro APR of 0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months, and then the ongoing APR of 18.74%-29.49% Variable APR. That makes the card a worthy contender for someone who needs a lot of time to pay off a large debt.

Of course, if you're transferring a balance, be sure to factor in the card's transfer fee: 3% of the transfer amount (minimum of $5) on any balances transferred in the first four months. After that, it's 5% with a minimum of $5. This fee will take a bite out of your savings, but it will likely cost much less than interest you'd pay on a card with no 0% offer.

🤓Nerdy Tip

Most balance transfer cards require making at least the minimum payment to maintain the 0% intro APR period. Check your card's terms and conditions for details.

This card's other standout feature is its lack of late fees or a penalty APR, which is fairly uncommon and could be helpful for the occasionally forgetful. Keep in mind, however, that late payments can still affect your credit scores.

There is no rewards program, so there's little incentive to use the card after you've paid off the transferred balance. But since the annual fee is $0, it won't cost you anything to keep it around either.

Citi® Diamond Preferred® Card: 0% intro APR period, but much less forgiving

Citibank Diamond Preferred Credit Card
NerdWallet rating 

Similar to the Citi Simplicity® Card, the Citi® Diamond Preferred® Card charges a $0 annual fee and comes with an intro 0% intro APR on purchases for 12 months and 0% intro APR on balance transfers for 21 months, and then the ongoing APR of 17.74%-28.49% Variable APR.

So it, too, is a good option for those who need a lot of time paying down a transferred balance, as long as the amount you'll save in interest outweighs the card's balance transfer fee. Just note that this card charges $5 or 5% of the transfer amount, whichever is greater. That's higher than the initial 3% fee that the Citi Simplicity® Card charges.

Also, unlike the Citi Simplicity® Card, this card does charge late payment fees and a penalty APR. There’s no clear path spelled out to shedding that penalty rate either, which can lock you into some very expensive debt.

In short, if you're the forgetful type, you may want to avoid this card.

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