If you are considering applying for a new credit card, the next step is to compare the different offers that are available, including those from the major credit card companies. CITI Simplicity is a great option for new cardholders, especially if you are applying for a card with a low interest rate. However, many people have found that they were taken advantage of by the credit card company when they applied for a CITI Simplicity card. This article will discuss the issues that people have had with this card and how you can avoid them.
One issue that people have been dealing with CITI Simplicity is the interest rate. The CITI Simplicity Card has an introductory interest rate of 3%, which is great for new cardholders. However, once the introductory period has ended, the interest rate is increased to the standard credit card interest rate, which means that if you make your monthly payments on time then you will pay even more in interest than if you had not applied for the card. Yes, there is also one associated with this credit card called the “Preferred Rewards” Program, which offers a high percentage off purchases.
The only way that you can keep this credit card from becoming too expensive is to avoid making purchases during the introductory period or to use your credit card to make only purchases that you will actually use. Most people find that they do not make enough purchases every month, which leads them to being unable to pay the card off after it has been active for a certain amount of time.
Another aspect that has caused many people to be turned off about the CITI Simplicity Card is the rewards that they offer. You can get up to 5% cash back on certain purchases, but because you are not able to transfer the balance to another credit card, the savings are not really worth the hassle.
When you are considering applying for a CITI Simplicity Card, you should also make sure to look at any hidden fees that might be associated with them. Some cards have an annual fee, monthly fee, or finance charges that can add up to significant amounts over the course of time.
One last thing that you should also be aware of is that the rewards offered with CITI Simplicity can not be transferred to other cards, even if you transfer the balance to another card that is affiliated with CITI. The best way to transfer the rewards is to the Visa or MasterCard of the company that you currently have a card with. Even if you want to transfer your rewards to another card, the process will probably take longer because it will take longer to get accepted by the bank, and even though they will allow you to transfer the points that you have already earned to another card, they may not allow you to transfer the actual credit card itself.