Which Credit Card Should You Favor If You Need a Long Term Balance Transfer

Citi Simplicity Card is the best balance transfer card to sign up if you are looking for a card that gives you the most time for repaying your balance. With City Simplicity Card, you will get access to the 21 months intro promo on balance transfer. During the intro promo period, you don’t have to pay a single cent towards the APR interest fee. It will start to charge interest fee after the 21 months period. The variable interest fee can be anywhere from 14.99% – 24.99% depending on your creditworthiness.

They do charge a 3% or $5 (whichever is greater) balance transfer fee each time you transfer a balance that you transfer from another credit card. The card has waived the two fees including late and annual fees. Even though it does not raise your penalty APR for late payment, it will report it to the credit bureau. Therefore, you should always be diligent in meeting the repayment deadline to prevent your credit score from dropping.

The card does not have any bonus offer or rewards program. You have the freedom to choose the repayment date that is most convenient for you to make the repayment. The 24/7 personal concierge service is included in the card. When you call the number, you just have to say representative and there will be someone to help you in whatever chore you want to get done. The ideal credit score for applying Citi Simplicity card is in between 690 – 850.

Another credit card that also offers 21 months long intro promo on balance transfer is the Citi Diamond Preferred Card. The variable APR of 13.99% – 23.99% is charged onto the balance if you take more than 21 months to pay off your balance. The 3% or $5 balance transfer fee charges apply for each balance transfer that you perform. The card has $0 annual fee so you don’t have to pay any fee to renew the card annually. If you use the card to purchase something overseas, it will charge you a 3% foreign transaction fee.

Citi Price Rewind that allows you to get back some money if you can show them another store that charges a lower price on the same item. Citi Private Pass gives you access to presale and discount tickets. The 24/7 concierge service allows you to get help in making on time reservation for flight and hotel. Other perks that the card offers include trip cancellation protection, worldwide travel and rental car insurance.

Citi Diamond Preferred has a rewards program that allows you to earn Easy Deals points when you shop through the Easy Deals portal. Every $100 that you spend will earn you 10 Easy Deals point. There are more than 300,000 deals for you to browse at the portal. Citi Diamond Preferred has the same credit score requirement as Citi Simplicity card.

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