Citi Simplicity Card
Save with a $0 annual fee for life and enjoy a 0% p.a. interest rate on balance transfers and purchases for up to 6 months.
The Citi Simplicity gives you a way to save on your credit card costs, with a $0 annual fee for life and no late fees. When you apply by 31 May 2021, you can take advantage of an introductory 0% p.a. on purchases and balance transfers for 6 months (with no balance transfer fee).
You'll also get access to mobile payments through Apple Pay or Samsung Pay. Plus, complimentary insurances and the Citibank Dining Program..
|Product Name||Citi Simplicity Card|
|Balance transfer rate||0% p.a. for 6 months|
|Balance transfer revert rate||Cash Advance Rate (22.24% p.a.)|
|Balance transfer limit||80% of available limit|
|Purchase rate||0% p.a. for 6 months, reverts to 21.49% p.a.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||22.24% p.a.|
|Min credit limit||$6,000|
|Max credit limit||$100,000|
|Foreign currency conversion fee||3.4%|
|Available to temporary residents||No|
- Ongoing $0 annual fee
- 0% p.a. for 6 months on purchases and balance transfers
- Free bottles of wine with Citibank Dining Program
- No late payment fees
- At the end of the balance transfer period, any remaining unpaid balances will revert to the variable cash advance rate, currently at 22.24% p.a.
|Minimum monthly repayment||2% of the closing balance or $30, whichever is greater|
|Late payment fee||$0|
|Foreign currency conversion fee||3.4%|
|Cash advance fee||3.5%|
|Overseas cash advance fee||$5|
|Additional cardholder fee||$0|
|Number of additional cardholders||4|
How to applyIf you would like to apply for this card, please complete and submit the secure online application. Before applying you will need to ensure that you meet the following criteria.
- Age. Applicants must be at least 18 years of age.
- Income. Earn a minimum taxable annual income of $35,000.
- Residency. This card is only available to permanent Australian residents and citizens.
- Personal details. Including your full name and proof of identification (such as your Australian driver's licence or passport).
- Contact details. Such as your address, phone number and email address.
- Employment. Including time spent at your current job and your employer's contact details and address.
- Income and finances. You'll need to include your total gross salary as well details regarding expenditure and recurring expenses (such as any liabilities, debts, rent and school fees).
- Existing debt. You'll need to provide details regarding any other credit card accounts you have, including the account number and issuing organisation's name and address.
- $0 annual fee. You won't pay an annual fee for the life of the card and you can add up to 4 additional cardholders at no cost.
- Purchase rate offer. Save with 0% interest on new purchases for the first 6 months, reverting to 21.49% p.a. thereafter. This offer is only valid until 31 May 2021.
- Balance transfer offer. When you apply by 31 May 2021, you can consolidate your debt with this card's 0% p.a. for 6 months balance transfer offer with no balance transfer fee. After the promotional period, any remaining balances will be charged interest at the cash advance rate. You can transfer up to 80% of your approved credit limit from credit cards, store cards or personal loan debt not issued by Citi.
- Citibank Dining Program. Dine at an eligible restaurant participating in the Citibank Dining Program and you could receive a free bottle of wine, as long as you use your Citi card to pay for the meal. Based on the assumption that you claim six free wines per year, you could save up to $210.
- Complimentary purchase cover insurance. This applies to eligible products for 90 days after the date of purchase. This covers products that were purchased anywhere in Australia, including gifts that were given to an Australian permanent resident. This has an estimated savings value of $21 and is complimentary with this card.
- Complimentary extended warranty insurance. This type of cover extends the original manufacturer's warranty on personal goods that were purchased with the card. The extension applies when the original warranty comes to an end. Please note an excess of $100 applies if you decide to make a claim. This has an estimated savings value of $100 and is an extra bonus with this card.
- Complimentary transit accident insurance. Purchase your travel tickets with your Citi Simplicity card and you and your family will receive up to $500,000 in coverage if you were to sustain a fatal injury as a passenger whilst travelling.
- Guaranteed pricing scheme. Should you ever find the same product that has a price difference of more than AUD$75, you may be covered for the price difference up to AUD $500. Please note that both products need to have the same model number, produced in the same year and by the same manufacturer. For a full list of conditions, please refer to the Product Disclosure Statement.
- Mastercard benefits. With Mastercard Priceless Cities, you’ll get access to exclusive entertainment, dining, travel and other lifestyle experiences in more than 40 cities around the world.
- Mobile payment technology. Enjoy the convenience of making contactless payments when you shop with Samsung Pay or Apple Pay.
Rates & fees
- Purchase rate. Outside of any promotions, this card charges a variable purchase rate of 21.49% p.a.
- Interest-free days. Benefit from up to 55 days interest-free on purchases. This is only available if you've paid your statement in full and do not have a remaining balance from a balance transfer.
- Minimum repayment.2% or $30 of the closing balance, whichever is greater, or, the sum of 1% of the balance.
- $0 late payment fee. You won’t have to worry about paying a fee if you're unable to settle your bill by its due date.
- Overseas compatibility. When making a purchase in a foreign currency, you'll be charged 3.4% of the transaction amount. If you obtain a cash advance overseas you'll be charged 3.5% of transaction amount.
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
As the name suggests, the Citi Simplicity keeps it simple with a $0 annual fee and a handful of modest benefits. These include a free bottle of wine when you dine with Citibank Dining Program partners, complimentary purchase cover and extended warranty insurance, plus seasonal shopping, dining and travel deals through Mastercard Priceless Cities.
The 0% balance transfer offer on this card is one of the shortest on the market, but could be useful if you have a small balance to pay off and want to switch to this card anyway. But with an interest rate of 21.49% on purchases, the cost of using this card could quickly add up if you’re not eligible for interest-free days.