Balances below $20: Minimum payment equals balance, plus applicable fees.
Balances of $20 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.
Your Citi Simplicity Card 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.
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.
To avoid interest, you need to pay your full statement balance before the Citi Simplicity Card 0% intro APR ends. That’s 18 months after you’ve opened your account, at the latest.
The Citibank credit card grace period is at least 23 days from the close of each billing cycle until the payment due date. Citi will not charge interest on balances paid in full by the due date when the grace period is in effect. The due date is included on the monthly statement, along with the minimum payment due.… read full answer
If you don’t pay off the entire balance by the due date for any billing period, the remaining balance will begin accruing interest. The interest compounds daily, which means you’ll be charged interest each day on both the principal balance and any interest assessed on previous days.
You will also lose the grace period if you don’t pay the bill in full by the due date one month. As a result, you will start to owe interest on new purchases from the day you make them. You will have to pay in full for two consecutive billing periods to regain the grace period.
The Citibank credit card grace period applies only to purchases. Cash advances and balance transfers are not covered by a grace period.
How to Set Up Citi Simplicity Card Automatic Payments:
Log in to your online account via the Citibank website or mobile app.
Find the “Online Bill Payment” on the account home page and then select “Manage AutoPay.”
Enter your bank account routing number and account number. This is the account from which Citibank will deduct your payment each month.
Select your payment amount. Choose from the minimum amount due, the current balance, the statement balance, or a customized amount that is more than the minimum payment.
You should always make sure your bank account has enough funds for the payment a few days before the due date, to be safe. And once you’re in enrolled in automatic payments, don’t forget to review your recent transactions regularly.
The Citi credit card minimum payment is equal to the balance owed, if it is less than $25. For balances above $25, Citi charges 1% of the balance due for the billing period plus any interest owed, or 1.5% of the balance due, whichever is more. Cardholders must also pay any past-due or over-limit amounts and any late-payment fees.… read full answer
A Citi credit card minimum payment is the least amount you’re obligated to pay by the due date for your account to remain in good standing. You can pay all or part of your account balance at any time. But if you don’t pay at least the minimum payment by the due date, you’ll be charged a late fee up to $39-$40. And if you make only the minimum payment each month, any unpaid balance will start to accrue interest. Future new purchases will also start accruing interest from their purchase date once you’re already carrying a balance. Paying more than the minimum payment each month will reduce your interest charges. Better yet, avoid interest charges altogether by paying the balance in full, if you’re able.
The minimum payment is listed on each monthly statement. It’s typically due on the same date every month. By law, Citi and all other issuers must include a chart on your monthly statement explaining how long it will take you to pay off the balance (and how much you’ll pay in interest) by making only minimum payments. The chart also tells you how much you’ll need to pay each month to pay off the balance in three years, assuming you don’t make any new purchases.
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