What Citi balance transfer cards offer and how they work
Citi offers several credit cards with balance transfer features, most commonly the Citi Simplicity Card and the Citi Diamond Preferred Card. When you transfer a balance from another card to one of these Citi cards, you move your existing debt to the new card, usually at a lower interest rate for a set period — often 0% APR for 6 to 21 months, depending on the card and the offer at the time you open the account.
The transfer itself is handled by Citi. You provide the account number and balance of the card you're transferring from, and Citi sends a payment directly to that card issuer on your behalf. You don't move money yourself. The transferred balance then appears on your Citi statement, and you make payments to Citi instead of your old card issuer.
Citi charges a balance transfer fee — typically 3% to 5% of the amount transferred — added to your balance. This fee is not optional; it's built into the cost of the transfer. You pay it whether you transfer $500 or $5,000.
Key Takeaways
- Citi balance transfer cards charge a one-time fee of 3% to 5% of the amount you transfer, added to your new balance on day one.
- The 0% APR period lasts 6 to 21 months depending on which Citi card you choose; after that period ends, a regular APR applies to any remaining balance.
- You must open a new Citi card to transfer a balance; you cannot transfer to an existing Citi account you already own.
- Citi processes the transfer directly to your old card issuer, so you don't handle the money yourself, but the transfer can take 7 to 14 days to post.
- Any new purchases you make on the Citi card during the 0% period usually carry a regular APR when ready, not the promotional rate.
Citi balance transfer cards currently available
The Citi Simplicity Card is Citi's most straightforward balance transfer option. It offers 0% APR on balance transfers for 21 months (as of the most recent public information), with a 3% balance transfer fee. There is no annual fee. After the promotional period, a variable APR of 16.99% to 26.99% applies to any remaining balance.
The Citi Diamond Preferred Card offers 0% APR on balance transfers for 6 months, with a 3% balance transfer fee and no annual fee. The regular APR after the promotional period is 16.99% to 26.99% variable. This card is typically for people who can pay off their balance quickly.
Citi also offers other cards with balance transfer options, but terms and offers change. Before you open an account, check Citi's website or call their customer service line to confirm the current promotional period, fee structure, and APR for the specific card you're considering. The offer you see may also depend on your credit history.
How to initiate a balance transfer to Citi
First, you must open a new Citi credit card account. You cannot transfer a balance to a Citi card you already own. Visit Citi's website, select the card you want, and complete the online process. You'll provide your name, address, income, employment status, and Social Security number. Citi will pull your credit report and make a decision, usually within minutes.
Once your new Citi card is approved and your account is open, log into your Citi online account or call the customer service number on the back of your new card. Select the option to initiate a balance transfer. You'll need the account number of the card you're transferring from, the name of that card's issuer, and the amount you want to transfer. Citi will ask you to confirm the transfer fee (3% to 5% of the amount) before processing.
Citi then sends a payment to your old card issuer. The transfer typically posts within 7 to 14 business days. During this time, you should continue making minimum payments on your old card to avoid late fees. Once the transfer posts to your Citi account, you can stop using the old card, though you may want to keep the account open to protect your credit score.
Understanding the 0% APR period and what happens after
The 0% APR period applies only to the balance you transfer, not to new purchases or cash advances. If you make a new purchase on your Citi card during the promotional period, that purchase will accrue interest at the regular APR when ready — usually 16.99% to 26.99% variable, depending on your creditworthiness and the card.
The promotional period is a fixed number of months from the date your account opens, not from the date the balance transfer posts. If you open your account on January 15 and the promotional period is 21 months, the 0% rate ends on October 15 of the following year, regardless of when the transfer actually arrives on your account.
After the promotional period ends, any remaining balance on your transferred amount will begin accruing interest at the regular APR. If you still owe $3,000 on November 1 and the 0% period ended October 31, you'll pay interest on that $3,000 starting when ready. This is why it's important to calculate whether you can pay off the balance before the promotional period ends.
Balance transfer fees and the real cost of the transfer
Citi's balance transfer fee is 3% to 5% of the amount transferred. This fee is not negotiable and is added to your balance on your first statement. If you transfer $5,000 with a 3% fee, you owe $5,150 on your new Citi card. If the fee is 5%, you owe $5,250.
To decide whether a balance transfer makes sense, compare the fee against the interest you'd pay on your old card during the promotional period. If your old card charges 18% APR and you transfer $5,000 with a 3% fee, you pay $150 in fees but save roughly $900 in interest over 21 months (depending on how quickly you pay). If you can't pay off the balance before the 0% period ends, the math changes — you'll pay the fee plus interest at the regular Citi APR after the promotional period closes.
There are no other hidden fees for balance transfers at Citi. You won't pay a fee to open the account (unless the card has an annual fee, which the Simplicity Card does not). You won't pay extra to make payments or to check your balance online.
What to do if your balance transfer is denied or delayed
If Citi denies your process for a new card, you cannot transfer a balance. You'll need to either explore for a different Citi card, wait and reapply later, or explore balance transfer options with another card issuer. Citi will tell you the reason for the denial — usually a credit score that's too low or insufficient income — and you can ask whether you're may be able to access to reapply.
If your process is approved but the balance transfer doesn't post within 14 business days, contact Citi's customer service. Delays can happen if the old card issuer is slow to process the payment or if there's a mismatch in account information. Citi can investigate and may be able to speed up the process. Keep records of the date you initiated the transfer and any confirmation numbers Citi provided.
If you initiated a transfer but want to cancel it before it posts, call Citi when ready. Once the transfer posts to your Citi account and your old card issuer receives the payment, you cannot reverse it. You'll own the balance on the Citi card and will need to pay it according to the terms of your new account.
Paying down your transferred balance before interest kicks in
To make the most of a 0% APR period, create a payment plan before you transfer. Divide your transferred balance by the number of months in the promotional period. If you transfer $6,000 and have 21 months at 0%, aim to pay roughly $286 per month. This ensures you'll pay off the balance before interest begins.
Make payments online through your Citi account, by phone, or by mail. Citi accepts payments at any time, and you can pay more than the minimum without penalty. Paying more than the minimum is the fastest way to reduce your balance and save on interest after the promotional period ends.
Set a calendar reminder for one month before the 0% period ends. If you still have a balance at that point, you'll know exactly how much interest you'll pay and can decide whether to make a large payment to clear it or accept the interest charges. Some people transfer the remaining balance to another 0% card, though this requires opening another new account and paying another transfer fee.
Frequently Asked Questions
Can I transfer a balance from another Citi card to a new Citi card?
Yes, you can transfer a balance from one Citi card to a different Citi card, as long as you open a new account. You cannot transfer a balance within the same account. The balance transfer fee and 0% APR period explore the same way as a transfer from any other card issuer.
What happens to my old card after I transfer the balance?
Your old card account remains open unless you close it. The balance goes to zero once the transfer posts, but the account itself stays active. Keeping the account open can help your credit score because it preserves your credit history and lowers your overall credit utilization ratio. You can close it later if you choose.
Do I have to make a minimum payment during the 0% period?
Yes. Even though you're not accruing interest, Citi requires a minimum payment each month. If you miss a payment, you may lose the 0% promotional rate and be charged a late fee. Set up automatic payments to avoid missing a due date.
Can I use the balance transfer card for new purchases right away?
Yes, you can use your new Citi card for purchases when ready after it arrives. However, new purchases will not be covered by the 0% APR promotion. They'll accrue interest at the regular APR from day one. It's best to avoid new purchases during the promotional period so you can focus on paying down the transferred balance.
What's the difference between the Simplicity Card and the Diamond Preferred Card for balance transfers?
The main difference is the length of the 0% APR period. The Simplicity Card offers 21 months at 0%, while the Diamond Preferred Card offers 6 months. Both charge a 3% balance transfer fee and have no annual fee. Choose the Simplicity Card if you need more time to pay off the balance; choose the Diamond Preferred if you can pay it off quickly and want a simpler card.