Last updated on May 16th, 2023
The Citi Simplicity® Card Citi® Diamond Preferred® Card are both popular low APR and balance transfer credit cards. The credit cards from Citi some of the lengthiest introductory APR periods for a card, but how do they stack up against the competition? Here is everything you need about the Citi low rate credit cards vs. their biggest balance transfer rivals:
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What is a Low APR for Credit Cards?
The average interest rate for credit cards can vary widely. What’s considered a “low” APR for a retail card may fall in the mid-to-high range when compared to low interest balance transfer credit cards, for example. As a result, the overall average APR across credit card categories stretches widely between 10% and 36%.
Even with this wide range, you can begin to develop a general sense for what may be considered a low APR card. As a general rule of thumb, a “low APR” or “low rate” credit card is one with an APR of around 14% or below.
What is a Good 0% Intro APR Period?
Any introductory APR is better than nothing – that much is for certain. But, what is considered a “good” length of time for an intro APR offer?
Most balance transfer credit cards feature a 0% intro APR period of between 12 to 15 months. These intro APR periods may extend to balance transfers (BTs), purchases, or both. Some cards, however, provide even lengthier intro APR periods.
Related Article: What is the Longest 0% APR Credit Card?
Citi Low APR Credit Cards
The Citi Simplicity® and Citi® Diamond Preferred® Card are two such low APR credit cards. Here is a quick breakdown of the two Citi cards:
Citi Simplicity® Card
Citi Simplicity® Card
Citi Simplicity® Card
- 18.99% – 29.74% (Variable) Regular Purchase APR
- 18.99% – 29.74% (Variable) Balance Transfer APR
- 29.99% (Variable) Cash Advance APR
- 0% for 12 months on Purchases Intro Purchase APR
At a Glance
The Citi Simplicity® Card is one of the most consumer-friendly balance transfer cards available today, 0% intro APR on balance transfers for 21 months from the date of first transfer as well as 0% intro APR for 12 months on purchases from when the account opens.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No Late Fees, No Penalty Rate, and No Annual Fee… Ever
- 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.99% – 29.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is an introductory balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater for balances transfers completed within 4 months of account opening.
- Stay protected with Citi® Quick Lock
- Intro Purchase APR: 0% for 12 months on Purchases
- Regular Purchase APR: 18.99% – 29.74% (Variable)
- Intro Balance Transfer APR: 0% for 21 months on Balance Transfers
- Balance Transfer APR: 18.99% – 29.74% (Variable)
- Balance Transfer Transaction Fee: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, 5% of each balance transfer; $5 minimum.
- Cash Advance APR: 29.99% (Variable)
- Cash Advance Transaction Fee: 5% of each cash advance; $10 minimum
- Annual Fee: $0
- Foreign Transaction Fee: 3%
- Late Payment Penalty Fee: No Late Fee
- Return Payment Penalty Fee: Up to $41
- You have a significant balance elsewhere that you’d like to transfer over and pay off without interest
- You enjoy the freedom of having 12 months with 0% introductory APR on the purchases made with this card
- You want a credit card with robust consumer protection features
Citi Simplicity® Card
The Citi Simplicity® Card is one of the bank’s most popular credit cards, thanks to its exceptionally low APR, lengthy intro APR periods, and lack of an annual fee. The Simplicity offers two introductory interest rate periods – one for balance transfers and one for purchases. First, new accounts enjoy 12 months of no interest on purchases. Second, they’ll enjoy a whopping 21 months of 0% interest on balance transfers – the longest introductory period available.
Citi® Diamond Preferred® Card
Citi® Diamond Preferred® Card
Citi® Diamond Preferred® Card
- 17.99% – 28.74% (Variable) Regular Purchase APR
- 17.99% – 28.74% (Variable) Balance Transfer APR
- 29.99% (Variable) Cash Advance APR
- 0% for 12 months on Purchases Intro Purchase APR
At a Glance
The Citi® Diamond Preferred® Card provides one of the longest 0% intro APR periods on the market for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 17.99% – 28.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
- Get free access to your FICO® Score online.
- With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
- Intro Purchase APR: 0% for 12 months on Purchases
- Regular Purchase APR: 17.99% – 28.74% (Variable)
- Intro Balance Transfer APR: 0% for 21 months on Balance Transfers
- Balance Transfer APR: 17.99% – 28.74% (Variable)
- Balance Transfer Transaction Fee: 5% of each balance transfer; $5 minimum.
- Cash Advance APR: 29.99% (Variable)
- Cash Advance Transaction Fee: 5% of each cash advance; $10 minimum
- Penalty APR: Up to 29.99% (Variable)
- Annual Fee: $0
- Foreign Transaction Fee: 3%
- Late Payment Penalty Fee: Up to $41
- Return Payment Penalty Fee: Up to $41
- You make frequent purchases to entertainment events and want priority access
- You’re looking for a generous introductory 0% APR period for both purchases and balance transfers
Citi® Diamond Preferred® Card
The Simplicity and the Citi® Diamond Preferred® Card are two very similar credit cards. Both cards feature the same 0% intro APR periods on balance transfers and purchases, feature no annual fee, and provide the same Mastercard protections and benefits. New Diamond Preferred cardmembers will enjoy 0% intro APR for 12 months on purchases and 21 months on BTs – one of the longest introductory interest rate periods on balance transfers available today.
So, how does the Diamond Preferred credit card differ from the Citi Simplicity? The most significant difference is the regular APR, but that variation is modest. The Diamond Preferred features a regular APR one percentage point lower than the Simplicity.
The Citi low-rate credit cards provide exceptional value. Which you choose is up to you – though those with excellent credit scores might want to consider the Diamond Preferred Mastercard, thanks to its slightly lower APR.
How Do the Citi 0% Intro APR Cards Compare to Other Low APR and Balance Transfer Cards?
Are you thinking about applying for the Citi Simplicity Card or the Diamond Preferred Card? While the card is an exceptional value, here is how it compares to many of the leading competitors on the BT credit card market:
Citi® Double Cash Card – 18 month BT offer
Citi® Double Cash Card – 18 month BT offer
Citi® Double Cash Card – 18 month BT offer
- 18.99% – 28.99% (Variable) Regular Purchase APR
- 18.99% – 28.99% (Variable) Balance Transfer APR
- 29.99% (Variable) Cash Advance APR
At a Glance
The Citi® Double Cash Card is one of the most versatile cash back credit cards on the market today, thanks to impressive, flat-rate cash back, lucrative introductory 0% APR offers, and more. Cardholders earn 2% back on every eligible purchase: 1% back at the time of sale and an additional 1% back when they pay their statement balance. Cash back is redeemable for statement credits, direct deposits, checks, or converted as ThankYou® points.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- To earn cash back, pay at least the minimum due on time.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.99% – 28.99%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Regular Purchase APR: 18.99% – 28.99% (Variable)
- Intro Balance Transfer APR: 0% for 18 months on Balance Transfers
- Balance Transfer APR: 18.99% – 28.99% (Variable)
- Balance Transfer Transaction Fee: 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
- Cash Advance APR: 29.99% (Variable)
- Cash Advance Transaction Fee: 5% of each cash advance; $10 minimum
- Penalty APR: Up to 29.99% (Variable)
- Annual Fee: $0
- Foreign Transaction Fee: 3%
- Late Payment Penalty Fee: Up to $41
- Return Payment Penalty Fee: Up to $41
- You prefer earning cash back at a flat rate rather than in rotating categories
- You’re looking to either consolidate existing balances or pay down a large purchase with no interest charges for an extended period of time
- You like to have the flexibility of converting cash back into lucrative rewards points
- You’re considering a credit card without an annual fee
Citi® Double Cash Card – 18 month BT offer
The Citi® Double Cash Card is Citi’s unlimited cash back credit card. The Double Cash is another competitor to the Simplicity and Diamond Preferred – but offers rewards in addition to introductory APR periods. The Double Cash offers 0% intro APR for 18 months on balance transfers made within four months of account opening. That intro APR on transfers is one of the longest on the market today and an excellent addition to a versatile cash back credit card.
The Double Cash earns 2% back on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. That earning rate is on par with the TD Double Up, Wells Fargo Active Cash, and other unlimited cash back cards.
Chase Slate Edge
Chase Slate Edge
Chase Slate Edge
- 20.24% to 28.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 20.24% to 28.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
- 0% for the first 18 months from account opening date Intro Purchase APR
At a Glance
The Chase Slate Edge lets you make moves towards your credit goals with a host of impressive introductory bonuses. The card from Chase offers the chance at an automatic credit line increase, plus 0% intro APR for 18 months (with a variable APR after that) and automatic APR reduction when you pay on time after meeting minimum spending requirements– all for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- Lower your interest rate by 2% each year. Automatically be considered for an APR reduction when you pay on time, and spend at least $1000 on your card by your next account anniversary
- Get an automatic, one-time review for a higher credit limit when you pay on time, and spend $500 in your first six months
- Start off strong with 0% Intro APR for 18 months from account opening on purchases and balance transfers. A variable APR of 19.24%-27.99% on balance transfers and purchases after the introductory period ends
- $0 My Chase Plan® fees during the 18-month introductory period
- All for no annual fee – You wo’t have to pay an annual fee for all the great features that come with your Slate Edge℠ card
- Intro Purchase APR: 0% for the first 18 months from account opening date
- Regular Purchase APR: 20.24% to 28.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for the first 18 months from account opening date
- Balance Transfer APR: 20.24% to 28.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that: Either $5 or 5% of the amount of each transfer, whichever is greate
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Penalty APR: Up to 29.99% variable based on the Prime Rate
- Foreign Transaction Fee: 3% of the amount of each transaction in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- You want to build credit with responsible usage
- You plan to carry a balance and will make use of the two 0% intro APR offers
- You don’t want to pay an annual fee
Chase Slate Edge
The Chase Slate Edge is Chase’s newest low-rate credit card. The card features two lengthy 05 intro APR periods, both 18 months. New cardmembers enjoy 18-months of zero interest on purchases and balance transfers. That promotional rate extends to My Chase Plan® fees during the 18-month introductory period.
One great feature of the Slate Edge is the ability to lower your interest rate by 2% each year. Chase will automatically consider new cardholders for an APR reduction when they pay on time and spend at least $1000 on the card by the following account anniversary.
Because of this lower APR with on-time payments, the Chase Slate isn’t entirely the same type of credit card as either the Simplicity or the Diamond Preferred cards from Citibank. Instead, the card is a hybrid credit builder card and a balance transfer credit card.
Wells Fargo Reflect Card
Wells Fargo Reflect Card
Wells Fargo Reflect Card
- 18.24%, 24.74%, or 29.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 18.24%, 24.74%, or 29.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
- 0% for 18 months from date of account opening, with an extension of up to 3 months for meeting minimum requirements Intro Purchase APR
At a Glance
The Wells Fargo Reflect Visa is a low APR credit card that offers one of the lengthiest intro APR periods available. The card, which features no annual fee, starts with 18 months of 0% APR on purchases and balance transfers, with that period extending to up to 21 months when the cardholder makes their minimum payment due each month.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers.
- Intro APR extension of up to 3 months with on-time minimum payments during the introductory and extension periods
- Cell phone protection for up to $600 when you pay your monthly cell phone bill with your eligible Wells Fargo card
- Intro Purchase APR: 0% for 18 months from date of account opening, with an extension of up to 3 months for meeting minimum requirements
- Regular Purchase APR: 18.24%, 24.74%, or 29.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 18 months from date of account opening, with an extension of up to 3 months for meeting minimum requirements
- Balance Transfer APR: 18.24%, 24.74%, or 29.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 120 days from account opening. After that, up to 5% for each balance transfer, with a minimum of $5
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each advance, whichever is greater.
- Foreign Transaction Fee: 3% of each transaction converted to U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- You have a significant credit card balance they want to pay down
- You plan on making your payments on time each month
- You have a good credit score
- You do’t want to pay an annual fee
Wells Fargo Reflect Card
The Wells Fargo Reflect Card is a balance transfer credit card with one of the lengthiest intro APR periods available. The card starts with 18 months of 0% APR on purchases and balance transfers, extending to 21 months when the cardholder makes their minimum payment due each month.
Those 21 months (subject to on-time payments and remaining balances) is the longest introductory period from a major US lender, making the Wells Fargo Reflect a mammoth of a balance transfer credit card.
Beyond the intro APR, the Reflect Visa from Wells Fargo provides a competitive APR on purchases and balance transfers. That rate is on par with the Diamond Preferred Card, making it a solid option for Wells Fargo customers.
Upgrade Cash Rewards Visa®
Upgrade Cash Rewards Visa®
Upgrade Cash Rewards Visa®
- 14.99%-29.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 14.99% to 29.99% Balance Transfer APR
At a Glance
The Upgrade Cash Rewards Visa® offers no fees, low rates, cash back, and credit lines from $500 to $25,000 in one unique package. The card provides consumers the flexibility and predictability to quickly pay down balances and get debt-free. The Upgrade credit card is one of the lowest regular APR credit cards on the market for those with excellent credit scores, putting it firmly on any list of the best balance transfer credit card deals – or any list of the best credit cards in the U.S.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- $200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions*
- Earn 1.5% unlimited cash back on card purchases every time you make a payment
- Combine the flexibility of a credit card with the predictability of a personal loan
- No annual fee
- No touch payments with contactless technology built in
- See if you qualify in minutes without hurting your credit score
- Great for large purchases with predictable payments you can budget for
- Mobile app to access your account anytime, anywhere
- Enjoy peace of mind with $0 Fraud liability
- *To qualify for the welcome bonus, you must open and fund a new Rewards Checking account and make 3 qualifying debit card transactions from your Rewards Checking account within 60 days of the date the Upgrade Card account is opened. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information. Your Upgrade Card and Rewards Checking account must be open and in good standing to receive a bonus. If you have previously opened a Rewards Checking account or do not open one as part of this application process, you are not eligible for this welcome bonus offer. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking account as a one-time payout credit within 60 days after the 3rd qualifying card purchase.
- Regular Purchase APR: 14.99%-29.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 14.99% to 29.99%
- Balance Transfer Transaction Fee: Up to 5%
- Foreign Transaction Fee: Up to 3%
- You struggle to pay off your credit card balances
- You want a structured repayment plan
- You can reliably pay off your statement balances to earn cash back for your purchases
- You have a desire to get debt-free quickly
- You hate penalty or other hidden fees
Upgrade Visa Card with Cash Rewards
The Upgrade Visa® Card with Cash Rewards is another popular credit card with some comparisons to Citi Simplicity and the Citi Diamond Preferred. The card doesn’t provide 0% APR but does offer no fees, low rates, cash back, and credit lines up to $20,000 in one unique package.
The Upgrade Card works in two ways. Cardholders can use their line of credit to make purchases anywhere Visa is accepted worldwide. Alternatively, they can have some of the funds from their credit line transferred to their bank account to help tackle existing debt. This latter method makes the card an alternative for a balance transfer credit card –the Simplicity or Diamond Preferred.
Once the statement period ends, Upgrade lumps all bank transfers and purchases into one balance. The account holder then pays down based on their installment terms, ranging from 12 to 60 months in length.
Related Article: Citi Merchant Offers
Featured image by Coernl
