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Citi Simplicity vs. U.S. Bank Visa Platinum Card

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Published on April 01, 2024 | 6 min read

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Key takeaways

  • The Citi Simplicity® Card and U.S. Bank Visa® Platinum Card both offer a strong introductory APR for balance transfers, making them good choices for those who are trying to pay down their debt.
  • While the Citi Simplicity also offers an introductory APR for purchases, it is much shorter period than the U.S. Bank Visa Platinum’s timeframe for their intro APR on purchases.
  • Neither card will provide much long-term value after their intro APR periods ends since they don’t offer rewards, but one of them might nevertheless be a welcome addition to your wallet.

When it comes to credit cards, you have any number of options to choose from, including cash back cards, travel cards and even cards built with specific credit scores in mind, like cards for those with bad credit. But if your goal is to find a no-frills balance transfer card with a generous introductory annual percentage rate (APR), the Citi Simplicity® Card* or the U.S. Bank Visa® Platinum Card* could be a good fit for your wallet.

The main benefit of these balance transfer credit cards is that they allow you to pay down your current credit card debt while saving money on interest and fees. But if you’re hoping to earn credit card rewards or a welcome bonus, you may need to consider other card options.

To help you get started, here’s a look at how these cards, including their benefits and credit score requirements, compare to each other, as well as some tips on which card may be best for you.

Main details

Cards Citi Simplicity Card U.S. Bank Visa Platinum Card
Rewards rate None None
Welcome bonus None None
Intro APR on purchases 0% intro APR for 12 months 0% intro APR for 21 billing cycles
Intro APR on balance transfers 0% intro APR for 21 months on balance transfers made within the first four months 0% intro APR for 21 billing cycles on balance transfers made within the first 60 days
Regular APR 18.74% - 29.49% (Variable) 18.74% to 29.74% variable
Balance transfer fee Intro fee of 3% with a $5 minimum. After that, a 5% fee with a minimum $5 applies 3% ($5 minimum)
Annual fee $0 $0

Citi Simplicity vs. U.S. Bank Visa Platinum Card highlights

U.S. Bank Visa Platinum Card

U.S. Bank Visa Platinum Card

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Which card saves you more?

Your savings will depend on whether you’re using this card for a purchase or a balance transfer, as well as how fast you can pay off your debt. Here’s a breakdown of how much you might pay every month to wipe out your debt with these factors in mind.

Balance transfer example

Let’s say you have $5,000 in outstanding credit card debt that you transferred to your new card within the first month of opening your account. If you transfer that balance to either card, you’ll pay a $150 balance transfer fee, bringing your total balance to $5,150. Let’s also say that you got the average ongoing APR for both cards, so 24.24 percent for the U.S. Bank Visa Platinum and 24.62 percent for the Citi Simplicity. Here’s a breakdown of how long it’ll take you to pay off each balance and what you’d spend on interest depending on your monthly payments:

Monthly payments for both cards Total interest and time to pay off balance for the Citi Simplicity Total interest and time to pay off balance for the U.S. Bank Visa Platinum
$250 Time to pay off balance: 20 monthsTotal interest: $0 Time to pay off balance: 20 monthsTotal interest: $0
$205 Time to pay off balance: 25 monthsTotal interest: $183.24 Time to pay off balance: 25 monthsTotal interest: $182.70
$175 Time to pay off balance: 30 monthsTotal interest: $280.10 Time to pay off balance: 30 monthsTotal interest: $227.87

If you paid off your balance transfer within 21 months, you’d pay no interest on either card. But if you had a lower monthly payment and needed extra time — say, five or 10 extra months — you’d start to see the interest add up.

In total, you’d spend less on interest for the U.S. Bank Visa Platinum than you would on the Citi Simplicity if your card had its average ongoing APR. However, because the average APRs of the two cards are so similar, the difference in savings is pretty small — 54 cents if you take 25 months to pay it off and $52.23 if you take 30 months to pay it off.

Purchase intro offer example

Things change if you’re trying to pay off a purchase. Let’s say you spent $3,000 on a new purchase within the first month of opening your card account. We’ll use the same ongoing APRs of 24.24 percent for the U.S. Bank Visa Platinum and 24.62 percent for the Citi Simplicity in this example. Here’s how long it’ll take and how much you’ll pay in interest depending on how much you can pay to the card each month:

Monthly payments for both cards Total interest and time to pay off balance for the Citi Simplicity Total interest and time to pay off balance for the U.S. Bank Visa Platinum
$300 Time to pay off balance: 10 monthsTotal interest: $0 Time to pay off balance: 10 monthsTotal interest: $0
$200 Time to pay off balance: 16 monthsTotal interest: $25 Time to pay off balance: 15 monthsTotal interest: $0
$150 Time to pay off balance: 21 monthsTotal interest: $124 Time to pay off balance: 20 monthsTotal interest: $0

Because the U.S. Bank Visa Platinum’s introductory APR period is 21 months long, you wouldn’t pay any interest so long as you paid everything off within that timeframe. With the Citi Simplicity, however, that same timeframe will be more costly for you.

Because it only offers an introductory APR period of 12 months for purchases, you’ll have to pay interest if you can’t afford a higher monthly payment. If you can only pay $200 a month, you’d pay it off in 16 months with $25 in interest, and if you could only pay $150 a month, you’d pay it off in 21 months with a total of $124 in interest.

So, if you have a large purchase on the horizon and were hoping to use one of these cards, you’d be better off with the Visa Platinum unless you’re sure you can pay your balance off completely within 12 months.

Why should you get the Citi Simplicity?

The Citi Simplicity is worth it if you’re looking to pay down debt, as it offers one of the longest zero-interest periods available on the market today — but it’s not necessarily the best fit if you’re looking to fund a large upcoming purchase. Here are some other reasons to consider the card:

Additional benefits

  • Minimal fees: The Simplicity doesn’t charge late fees, and there’s no penalty APR. However, you will have to pay foreign transaction fees and a balance transfer fee, as noted above.
  • Flexible payment due date: Citi allows cardholders to pick their payment due date. Choose any date that works for you at the beginning, middle or end of the month.
  • ID theft protection: The card comes with an ID theft protection program offered by Mastercard. You can enroll for free and receive alerts about any suspicious activity on your account.

Recommended credit score

Citi doesn’t publish a recommended credit score, but states that the APR is based on creditworthiness. Your approval odds will be higher if you have a credit score of 670 and above, otherwise known as a good credit score.

Why should you get the U.S. Bank Visa Platinum?

The U.S. Bank Visa Platinum Card is worth it if you’re interested in both paying off a large purchase and wiping out existing credit card debt. Some additional reasons to choose the card include the following:

Additional benefits

  • Choose your payments: U.S. Bank lets you pick the payment date that works for you, though the fine print states that some due dates may not be available.
  • Cellphone protection: If you pay your monthly phone bill with the Visa Platinum, you’ll receive up to $1,200 in annual coverage for damages or theft.
  • Credit monitoring: U.S. Bank offers free credit score monitoring through its app or online banking.

Recommended credit score

Similar to the Citi Simplicity, your approval odds for the U.S. Bank Visa Platinum are greater if you have a good FICO credit score or better (670 and up).

The bottom line

The Citi Simplicity and U.S. Bank Visa Platinum both come with a handful of stand-out benefits, including 0 percent introductory APR periods and low fees. The U.S. Bank Visa Platinum, however, will be better suited for large purchases than the Citi Simplicity.

Before you make the decision to apply, be sure to read through Bankrate’s list of the best balance transfer credit cards and the best cards with 0 percent intro APR offers to see if another option piques your interest — or better suits your needs.

*The information about the Citi Simplicity® Card and U.S. Bank Visa® Platinum Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuers.

Citi is an advertising partner.