Citi Simplicity® vs ThankYou® Preferred

Citi Simplicity® vs ThankYou® Preferred

August 31, 2015         Written By Jason Steele

LowCards is a Citi partner. These offers, valid when the article was written, may have expired. View our full editorial disclaimer here.

(Note: the Citi ThankYou Preferred card is no longer available)

Citi is making a big push to capture a larger portion of the credit card market, and this is actually great news for consumers. As a result, credit card users are being offered more products with longer promotional financing periods, better rewards, and no annual fees. The Citi Simplicity® card offers low fees and amazing interest-free financing terms, while the Citi ThankYou® Preferred card has an impressive rewards program. Let’s take a look at these two credit cards, and then see which one is right for you.

Citi Simplicity®

Citi Simplicity® offers 12 months of interest-free financing on new purchases and 21 months on balance transfers. The balance transfer has to be made within the first four months of being a cardholder and comes with a 5% balance transfer fee. This is the longest 0% APR financing offer available from a major bank, and it is extremely valuable to anyone who is carrying a balance on their credit cards. Simplicity also features no late fees or penalty interest rates, ever.

The card is compatible with the new Apple Pay smartphone payment system. The standard interest rate is 14.74% - 24.74% (Variable), based on your creditworthiness, and there is no annual fee for this card.

Citi ThankYou® Preferred

The Citi ThankYou® Preferred card is a rewards credit card, and customers earn points in Citi’s ThankYou® Rewards program with each purchase.

In addition, cardholders receive double points on all dining and entertainment expenses, and one point per dollar spent on all other purchases. There is no limit to the number of points you can earn, and points never expire. New cardholders also receive 15 months of interest-free financing on both new purchases and balance transfers, with a 3% balance transfer fee. Then, the standard interest rate will be 15.49% - 25.49%* (Variable) , based on your creditworthiness. There is no annual fee for this card.

Which Card Should You Get?

Both cards are extremely competitive, but they are designed for two entirely different types of credit card user. The Simplicity card is for those who are struggling to pay off a balance, as it offers some of the best terms available for balance transfers. Simplicity is also a great choice for those who are tired of being punished by their credit card issuers for making an occasional mistake. It is one of the rare credit cards that has no late fees or penalty interest rate, so if your check arrives just a little late, you won’t have to worry about incurring costly late fees and interest hikes.

On the other hand, Citi’s ThankYou® Preferred is one of the leading reward credit cards offered with no annual fee. By offering double points on both dining and entertainment charges, this is a great card for those who go out frequently.

But as with any reward credit card, it is best used by those who pay each month’s statement balance in full and on-time. Otherwise, the interest charges you incur will be more than the value of any rewards you receive. So for those who never carry a balance, the ThankYou® Preferred is the clear choice, while those who occasionally need to extend payments should strongly consider the Simplicity card.

The information contained within this article was accurate as of August 31, 2015. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

Review LowCards.com Editor’s Top Cards!

2020 Top Credit Cards by Category
Featured Fair Credit Card
Reflex Mastercard® Credit Card
EDITOR RATING
Featured Fair Credit Card
Reflex Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: All credit types welcome to apply!

Featured Low Interest Card
ABOC Platinum Rewards Mastercard®
EDITOR RATING
Featured Low Interest Card
ABOC Platinum Rewards Mastercard®

Applying for this card will securely direct you to the issuer's website.

Top Features: No annual fee; $150 statement credit after spending $1,200 in first 90 days; 0% on Purchases for 12 months

Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card
EDITOR RATING
Featured Bad Credit Card
First Digital NextGen Mastercard® Credit Card

Applying for this card will securely direct you to the issuer's website.

Top Features: Reports to all three credit bureaus, perfect credit not required for approval

Featured Bank Account
Unlimited Cash Back Bank Account by Green Dot
EDITOR RATING
Featured Bank Account
Unlimited Cash Back Bank Account by Green Dot

Applying for this card will securely direct you to the issuer's website.

Top Features: Unlimited Cash Back Rewards


jasonsteele

About Jason Steele

Jason Steele is a journalist that covers credit cards, travel and consumer credit. As one of the nation's leading experts in credit cards, Jason has contributed to dozens of travel and personal finance outlets including NerdWallet, Credit Karma and the Points Guy, where he serves as the Senior Points and Miles Contributor. Jason has also been widely quoted in mainstream media in outlets such as the Washington Post, the USA Today and Bloomberg Business Week. Jason is also the founder and producer of CardCon, which is the annual Conference for Credit and Credit Card Media.