Citigroup Revises Simplicity Card with No Late Fees or Penalty Rate
Citigroup has just launched a new version of the Simplicity card with no late fees, no penalty rate and a single interest rate for purchases, balance transfers and cash advances. Cardholders can set their own due date. The interest rate is 16.99%, which is higher than most cards. Last week, the average credit card rate was 14.08% according to the LowCards Complete Credit Card Index, which tracks the advertised rates of 1060 credit cards in the United States. The intro rate is 0% for 21 months for purchases and balance transfers.
Simplicity has no rewards and no annual fee. This offer is only available to new accounts. If you have an older version of the Simplicity card, you won’t automatically receive this updated card so you will have to call and ask for these new terms.
Citi is also promoting 24/7 live customer service as another incentive to sign up for the Simplicity card.