Key takeaways
- Citi offers some of the longest introductory APRs for balance transfers, with some cards allowing you to save money on interest for up to 21 months.
- You can complete a balance transfer with Citi after you’re approved for an eligible Citi card or if you receive an offer on an existing account.
- Citi credit cards with intro APR offers include the Citi Simplicity® Card, Citi® Diamond Preferred® Card, Citi Double Cash® Card and Citi Rewards+® Card.
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Citi offers some of the longest introductory APRs for balance transfers on the market. With some Citi cards, you save money on interest for up to 21 months — which may be enough time to pay off all of your high-interest credit card debt. Some Citi cards also extend 0 percent intro APRs to purchases, while others offer cash back for each dollar you spend.
Finding the right balance transfer card can help you save money and get your finances on track. Here’s a breakdown of what you should know about Citi balance transfer cards and the steps you need to take to consolidate your credit card debt:
How to do a balance transfer with Citi
If you haven’t signed up for a balance transfer card from Citi yet, you can apply for a card and — if approved — set up your balance transfer at the same time. Upon approval of your new account, you’ll be given a chance to transfer a balance from an existing card during your application process. To initiate the transfer, you’ll simply need to provide the account number of your other account, the card issuer’s name and the amount of debt you want to transfer.
If you have a Citi credit card but did not initiate the balance transfer immediately, you’ll likely face a time limit on any introductory balance transfer offers. With the Citi Simplicity® Card, Citi® Diamond Preferred® Card, Citi Double Cash® Card and Citi Rewards+® Card, your balance transfer is only eligible for the introductory offer if you initiate the transfer within four months of account opening.
To initiate a transfer within that time frame, here are the steps you need to take:
- Log in to your Citi account and click “Payments and Transfers” at the top of the page. This can be done via the mobile app or online.
- Click on “Balance Transfers.”
- Click “View Available Balance Transfer Offers.” This might also show up as “Start a Balance Transfer.”
- Select the balance transfer offer you want to pursue and enter the required details. These include the account number for the credit card you want to transfer a balance from and the balance transfer amount.
It’s worth noting that, even if you are beyond that four-month timeframe or have had a Citi account for years, you may still receive balance transfer offers in your Citi account from time to time.
Additionally, you can also contact Citi customer service and initiate a balance transfer over the phone. All you have to do is call the number on the back of your card with your account information ready.
How to check the status of your balance transfer
You can check the status of your Citi balance transfer through your account. Simply:
- Log in to your Citi account.
- Click “Payments and Transfers” at the top of the page.
- Click “Balance Transfers.”
- Click “View Balance Transfer Status.”
What to know after completing a balance transfer with Citi
Your Citi balance transfer may take anywhere from two to 21 days from start to finish, so you’ll want to keep an eye on your old account until it shows a $0 balance. You’ll also need to continue making payments on your old credit card account until the balance transfer is complete. If you still have a balance showing and you fail to make a payment on your old card before your due date, you could be stuck paying late fees and see a drop in your credit score.
Once your balance transfer has been fully processed and your old account shows a $0 balance, you can choose to keep that account open or call the card issuer and close it. Just remember that keeping old accounts open is typically positive for your credit score since old accounts can increase the average length of your credit history (even if you’re not using them).
Best Citi credit cards for balance transfers
Citi offers an array of competitive credit cards, including cards that provide a 0 percent introductory APR for a limited time. Make sure to compare Citi balance transfer cards in terms of their benefits, introductory balance transfer offers, rewards and fees before choosing a card.
The following Citi credit cards offer the best balance transfer terms:
Best for debt consolidation
Card details
The Citi Simplicity Card offers a 0 percent intro APR on balance transfers for 21 months, followed by a variable APR of 19.24 percent to 29.99 percent. At 21 months, this offer is one of the longest introductory APR promotions on the market today.
There’s no annual fee for the card, but you’ll have to pay an introductory balance transfer fee of 3 percent of the transfer amount (with a $5 minimum) for balance transfers completed within four months of account opening. After that, your fee will be 5 percent of each transfer (with a $5 minimum).Also, with the Citi Simplicity Card, you won’t pay any late fees or a penalty APR. Other cardholder benefits include a 0 percent intro APR on purchases for the first 12 months, followed by the same variable APR of 19.24 percent to 29.99 percent. You also get the flexibility to choose your own due date and $0 fraud liability.
Best for purchases and balance transfers
Card details
The Citi Diamond Preferred Card also offers a 0 percent intro APR on balance transfers for 21 months and a 0 percent intro APR on purchases for 12 months, but its promotions are followed by an 18.24 percent to 28.99 percent variable APR. You’ll also avoid an annual fee, but you’ll have to pay a 5 percent balance transfer fee (with a $5 minimum), and balance transfers must be completed within four months of account opening to qualify.
This card lets you choose your own payment due date, too. You’ll also get Citi Entertainment access, which lets you purchase presale tickets to concerts, sporting events and more.
Best for earning flat cash back
Card details
The Citi Double Cash Card is unique because it offers both cash back rewards and a lengthy balance transfer offer.
You’ll get a 0 percent intro APR on balance transfers for 18 months, followed by a variable APR of 19.24 percent to 29.24 percent. You’ll also get the chance to earn up to 2 percent cash back on everything you buy — 1 percent when you make a purchase and another 1 percent when you pay it off. Additionally, through Dec. 31, 2024, you can earn 5 percent total cash back on hotels, car rentals and attractions booked through Citi Travel. This card also comes with no annual fee.With this card, you’ll enjoy an introductory balance transfer fee of 3 percent (with a $5 minimum) for any balances you transfer within the first 4 months of account opening. A 5 percent fee (with a $5 minimum) applies for any transfers completed after 4 months.
When it comes to redeeming rewards, this card lets you cash in your rewards for statement credits, direct deposits or checks. You can also redeem your rewards as basic Citi ThankYou points, which offer more redemption options like shopping on Amazon or gift cards. If you have a premium Citi card, such as the Citi Strata Premier℠ Card, you can convert your cash back into full-fledged ThankYou points by transferring them to your premium card.
Best for rewards on everyday spending
Card details
The Citi Rewards+ Card, which comes with no annual fee, is a good card for both balance transfers and everyday spending.
You’ll get a 0 percent intro APR on balance transfers for 15 months from the date of your first transfer and a 0 percent intro APR on purchases for 15 months after opening your account — which are both followed by a variable APR of 18.74 percent to 28.74 percent. Note that a 3 percent intro balance transfer fee (minimum $5) will apply on transfers completed within the first 4 months of account opening. After that, a 5 percent balance transfer fee (minimum $5) applies.
As for everyday rewards, you’ll earn 2X points at supermarkets and gas stations (on up to $6,000 in purchases per year, then 1X points) and 1X points on all other purchases. Through June 30, 2024, you’ll also earn 5X points on hotel, rental car and attraction purchases made through the Citi Travel portal.
You can also earn a welcome bonus of 20,000 points (worth $200) when you spend $1,500 within 3 months of account opening. Additionally, Citi will round up all your rewards to the nearest 10 points, meaning a $3 coffee will net you 10 points instead of three points. Plus, this card comes with Citi Entertainment access and Mastercard benefits.
The bottom line
Citi offers some of the best balance transfer cards available today. None of the Citi credit cards we’ve highlighted charge an annual fee, and they all extend their intro balance transfer APR offers for more than a year. With that much time to pay down debt interest-free, you could make a huge dent in your debt — or even pay it off for good.
Before choosing your balance transfer card, however, make sure to compare the offers, rates and fees of all of the top balance transfer cards on the market to find the right card for you.
If you’re not sure how to go about tackling your debt, consider reaching out to a certified credit counselor from a nonprofit agency. They can help you come up with a reasonable debt management plan to get you back on track.
Frequently asked questions (FAQs) for Citi balance transfers
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Citi doesn’t list any explicit limitations on how often you can transfer balances from other cards to a Citi credit card. However, the amount of debt you transfer (plus balance transfer fees) cannot exceed the available credit limit of your Citi credit card.
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You cannot transfer a balance from one Citi credit card to another Citi credit card. If you have debt on a Citi credit card that you want to consolidate, you should consider the top balance transfer credit cards from other issuers (like Wells Fargo, Discover and Bank of America).
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Citi balance transfers do not qualify for rewards. Only purchases made with your card qualify for cash back or rewards points.
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