With some Citi credit cards, you’ll get 0% intro APR on balance transfers for up to 21 months.
If you’re struggling to make a dent in your debt, then it might be time to explore some of the debt consolidation options available. A balance transfer with Citi could be your answer to clearing your debt for good. We explore some of the features, benefits and conditions you can expect if you conduct a balance transfer with Citi.
Compare Citi credit cards with balance transfers
What are the best Citi balance transfer offers?
Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card offers:
- 0% intro APR on balance transfers for 21 months.
- 0% intro APR on purchases for the first 12 months.
- Revert purchase and balance transfer APR of 14.49% to 24.49% variable.
- No annual fee.
Citi Simplicity® Card
With the Citi Simplicity® Card, you’ll enjoy:
- 0% intro APR on balance transfers for 18 months. Transfers must be completed within the first four months to qualify.
- 0% intro APR on purchases for the first 18 months.
- Revert purchase and balance transfer APR of 15.74% to 25.74% variable.
- No annual fee.
A balance transfer with Citi
A balance transfer with Citi allows you repay your debt faster by consolidating your debts onto one low-interest credit card. Balance transfers can be a suitable solution if you have an outstanding debt on a high interest credit card and want to take advantage of a 0% intro APR. The zero-interest period gives you some breathing room to make your repayments and clear your debt before the card reverts to a higher interest rate.
What are the benefits of a balance transfer with Citi?
- 0% intro APR period.
The length of the promotional period varies between cards, but as of June 2018, Citi is offering 0% balance transfers for 15, 18 and 21 months on certain cards. It’s recommended that you make the most of this time and aim to have your debt cleared before the promotional period ends.
- Quick application process.
Applying for a Citi credit card is simple. The application process should take less than 5 minutes to complete if you have all your personal information ready, and you may be able to get a response within seconds of submitting the form.
- Online budgeting tool.
Citi offers a useful online budgeting tool to help you take control of your finances and repay your debt within the promotional time period.
What else should I consider before I apply?
You can conduct a balance transfer with a number of Citi credit cards, and each one comes with different benefits and balance transfer offers. To find the right one for you, consider the size of your debt, the promotional interest rate and the length of time the offer is available to determine whether it’s the right option for you.
Here are a few things to look at when comparing Citi credit cards:
- Annual fee.
Credit cards can come with an annual fee. It’s important to consider the annual fee so you know the total cost of the card when you’re trying to consolidate your debt.
- Revert rate.
If your debt isn’t cleared after the promotional period ends, your remaining balance will collect the much higher purchase interest rate.
- Balance transfer fee.
Citi typically charges a balance transfer fee between 3% and 5% of the transfer amount, so keep this in mind when deciding which card you choose.
- Credit card limit.
Before applying, calculate how much you wish to transfer to your new Citi card. The total amount of the balance transfer plus balance transfer fees cannot exceed your available revolving credit limit, so you’ll want to make sure that the Citi credit card can support your entire debt.
Eligible debt for balance transfers with Citi
What debt can I transfer?
- Credit card not issued by Citi or one of its affiliates.
- Loan not issued by Citi or one of its affiliates.
What debt can’t I transfer?
- Loan issued by Citi or one of its affiliates.
- Credit card issued by Citi or one of its affiliates, including store cards from Macy’s, Best Buy, Sears, Costco, Home Depot and more.
Can I transfer balances to another Citi card?
No, you cannot transfer any credit card debt on a Citi card, or one of its affiliate cards, to another Citi card. Any debt you transfer to your new Citi card must come from a loan or credit card not issued by Citi or one of its affiliates.
To apply for a balance transfer card with Citi, you’ll need to meet these requirements:
- You’re at least 18 years old.
- You’re a US citizen.
What you will need to apply
The application process will take around five minutes to complete. Have the following information handy so you can answer the questions on the application form:
- Personal information.
This includes your full name, date of birth, phone number, Social Security number and home address.
- Financial details.
Citi requires your annual income and monthly housing payment.
How to apply for a balance transfer card with Citi
Step 1: Select a credit card.
Once you’ve compared your options and decided on a card, go to Citi’s website and click Apply Now.
Step 2: Enter your personal information.
Provide your name, birth date, Social Security number, address and phone number. Choose a security word and hint for remembering it.
Step 3: Fill in your financial details.
Next, add in your annual income and monthly housing payment. If you want, you can tick off whether you have a checking, savings and money market account. You can also add in any authorized users to the account here.
Step 4: Review your information and submit.
Ensure the details you’ve entered are correct. Check that you’ve read and agree to the Terms & Conditions. Next, check that you agree to receive your Cardmember Agreement and Privacy Notice electronically. Click Submit.
Step 5: Wait for a response.
With most Citi credit cards, you’ll receive an immediate decision on approval. If not, you’ll be notified by mail within 30 days regarding your application status. If your application is approved, you’ll receive your credit card within 14 days.
I got the card. Now what?
- Complete your balance transfer.
For most of Citi’s balance transfer credit cards, you need to complete the balance transfer within four months of opening your account to qualify for the promotional APR. To do this, login to your Citi account online and enter the account numbers of the credit cards you wish to transfer over, as well as how much of each balance you want to transfer. You can also do this over the phone by calling the number on the back of your new Citi credit card.
- Confirm your balance transfer has been processed.
It can take up to 14 days for Citi to transfer the balances from your old credit cards over to your new Citi credit card. After two weeks have passed, contact your old credit card issuers to make sure they’ve been paid off by Citi.
- Make timely payments.
You can pay your credit card bill on the Citi website, where you can also enroll in autopay to ensure you don’t miss a payment.
- Avoid using your card to make new purchases.
Ideally, you should only be using your Citi balance transfer credit card for debt consolidation, not purchases. Even if you can earn rewards points on purchases, you should concentrate on repaying your debt first, not growing it.
- Avoid fees.
Citi charges late and returned payment fees of up to $35, and some cards even come with a penalty APR if you make a late payment. Since the whole point of signing up for a Citi balance transfer card was to get the 0% intro APR, this can seriously hurt your strategy to get out of debt without paying interest.
- Contact customer service.
If you notice something off with your bill or have questions, reach out to Citi by calling 1-800-950-5114.
Completing a balance transfer with Citi could be your key to debt consolidation. However, as many issuers and credit cards offer balance transfer options, it’s a good idea to do your research and ensure you find the right credit card with the right features for your financial situation. Use our balance transfer credit cards comparison to find the best offer for you.