Maria Adams, Credit Cards Moderator
@m_adams
You can do a balance transfer with the Citi Simplicity Card online or by calling customer service at (800) 950-5114. At the moment, Citibank does not allow new applicants to request a balance transfer when completing the Citi Simplicity Card application.
Citi Simplicity Card balance transfers usually take 14 days to process. In the meantime, continue to make payments on your original debt to avoid any late fees and possible damage to your credit score. Keep in mind that Citi Simplicity Card balance transfers are also subject to a fee of 3% intro fee ($5 min) for each transfer in first 4 months, and 5% ($5 min) for each transfer after that.
How to Do a Balance Transfer with the Citi Simplicity Card Online
- Log in to your Citi Simplicity Card account.
- Select “View Offer” next to “You’re eligible for a balance transfer”.
- Click “I want this offer," then "Start your transfer”.
- Enter the account number(s) and the amount(s) you’d like to transfer.
- Verify your information is correct and submit the application.
Key Things to Know About a Citi Simplicity Card Balance Transfer
The Citi Simplicity Card accepts balance transfers from other credit cards, and according to Citibank customer service, you can transfer loan debt and other types of debt by calling customer service, if your account is eligible. The Citi Simplicity Card does not allow balance transfers from other Citibank credit accounts.
If you’re transferring a balance to a credit card with an introductory APR on balance transfers, try to pay off the balance before the introductory rate expires. Any balance remaining after that will accumulate interest daily at the card’s regular APR. Using a balance transfer calculator can be a big help.
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Is it a good idea to do a balance transfer?
Doing a balance transfer is a very good idea if you need multiple months to pay off high-interest debt and you are able to qualify for a 0% balance transfer credit card. Most balance transfer cards require a 700+ credit score (at least good credit) for approval.
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read full answer by Jane Parker, WalletHub Credit Card AnalystDoes a balance transfer count as a payment?
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