The Citi Simplicity minimum payment is equal to your balance if you owe less than $25. If your balance is above $25, Simplicity’s minimum payment is 1% of your balance, plus interest, or 1.5% of your balance – whichever is higher. New fees are also included in your minimum payment, as is the amount by which your balance exceeds your spending limit, if applicable.
Your Citi Simplicity minimum payment is applied to the balance on your account with the lower interest rate. Any amount you pay above the minimum is applied to balances with higher rates. Say, for example, you have a cash advance balance with a higher APR than your regular purchase APR. Anything you pay beyond your minimum due will apply to the cash advance balance.
Here’s Citi Simplicity’s minimum payment:
Balances below $25: Minimum payment equals balance, plus applicable fees.
Balances of $25 or more: Minimum payment equals 1% of your balance, plus interest OR 1.5% of your balance, rounded to the nearest dollar (whichever is greater.) Fees are also included.
Balances over credit limit: If your balance exceeds your credit limit, the difference will be added to your minimum payment due.
Past due balances: All past due amounts will be included in your minimum payment.
Not making at least Citi Simplicity’s minimum payment by your due date can hurt your credit score. You can avoid that by setting up automatic monthly payments from a bank account. Your scheduled payment can be for the minimum amount due, your full statement balance or a custom amount.
You need to pay your full statement balance to avoid interest, at least when Simplicity’s 0% intro APR isn’t in effect.