When it comes to cards with a combination of no late fees, no annual fees and no penalty rates, the Citi Simplicity Card – No Late Fees Ever (a NextAdvisor advertiser) has always taken the cake, but now it has a whole new head-turning offer. Citi Simplicity Card owners will now enjoy 21 months of 0% intro APR on balance transfers made in the first 4 months, providing relief to people dealing with credit card debt and high interest rates. This balance transfer does come with a transfer fee of 5% or $5 (whichever is greater), though that’s a small price to pay for nearly two years of no interest. On top of that, the card comes with a 12-month 0% intro APR on purchases. If you have a high-interest balance that you want to pay down faster, or you just want the convenience of a card that doesn’t penalize you for paying late, read on.

What does the new Citi Simplicity Card offer?

The Citi Simplicity Card has two main features. The first, and newest, is its 21-month 0% intro APR offer for balance transfers made within the first 4 months of card ownership, which is the longest balance transfer 0% intro APR we’ve seen! Many credit cards have 0% intro APR on balance transfers for 12, 15 or 18 months, but a card offering 21 months of no interest on balance transfers is extremely rare. As noted above, each balance transfer comes with a transfer fee of 5% of the transfer amount or $5 (whichever is greater), which is a bit higher than average (it’s usually 3%), but for a balance transfer period this long, it’s almost certainly worth it. This card also has 0% intro APR on purchases for the first 12 months of card ownership, which is nice to have if you have a big purchase (or small ones) coming up that you’d like to pay off over time without incurring interest.

The second main feature is the Citi Simplicity Card’s signature benefit: no late fees, no annual fee and no penalty APR for any cardholder, ever. This feature makes the Citi Simplicity Card perfect for people who occasionally slip up and pay their credit card bills late. Credit card late fees usually start at $25, and penalty APR can raise your interest rates as high as 29.99%, so even if you only pay your bill late once per year, the Citi Simplicity Card can save you significant money. (We should note that paying your bill late and carrying a balance will have an impact on your credit scores.) To help make sure you can pay when it’s convenient for you, this card also lets you set your own bill payment schedule on any available due date throughout the month. If you have any issues, you can call Citi and say “representative” to be connected to a real person who can help you 24 hours a day. The card also comes with a number of added perks, including Citi Price Rewind, which helps you get the best price on items purchased in the last 60 days, and a free Equifax FICO credit score every month. The Citi Simplicity Card requires good to excellent credit (usually considered a credit score of 700 or higher) to qualify.

Are there drawbacks to the Citi Simplicity Card?

While the Citi Simplicity Card has a longer balance transfer 0% intro APR offer than any other card we review, and doesn’t charge late payment penalties, it does fall short in a few areas. If you expected the card’s 0% purchase APR period to last as long as its 0% balance transfer period, its 12-month 0% intro APR offer on purchases may be disappointing to you. That’s where the BankAmericard credit card comes in, as it has 18 months of 0% intro APR on purchases and on balance transfers made in the first 60 days, and its balance transfer fee is only 3% of the transfer amount or $10, whichever is greater. It has no annual fee and also grants a free TransUnion FICO score every month to help you keep track of your credit.

Speaking of missing features, if you find that the Citi Simplicity Card is a little light on rewards, then the Discover it Cash Back card may make you feel like you’re getting more value. Not only does the Discover it Cash Back card provide a 14-month 0% intro APR on balance transfers (with a balance transfer fee of only 3%) as well as purchases — note that after the 0% intro APR expires, a variable go-to rate applies — but it also earns 5% cash back on rotating categories each quarter you activate (up to a quarterly maximum, currently $1,500, then it’s 1% back) and 1% cash back on all other purchases. Plus, it also gives you Discover Freeze it, which lets you lock and unlock your credit card account from a computer or mobile device in case you lose your card or its stolen, along with a free TransUnion FICO score each month, free identity theft monitoring, no foreign transaction fees and no late fee on your first missed payment, all while charging no annual fee. Compared to the Citi Simplicity Card, the Discover it Cash Back is positively bursting with benefits, although you’re trading long 0% intro APRs for these benefits.

Should you apply for the Citi Simplicity Card?

If you want to avoid paying interest on balance transfers for as long as possible, the Citi Simplicity Card – No Late Fees Ever should be your top candidate. Likewise, if you’re sick of late fees and just want a credit card that will give you some leeway in terms of when you pay, this card fits the bill. To learn more about this card or apply for it, visit our Citi Simplicity Card review.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.