What credit score do you need to get the Citi Simplicity Card? – CNBC

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of Citi Simplicity® Card offers the best-in-class balance transfer introductory APR, making it a great option for those looking to pay less in interest on their credit cards. You'll need to be approved to take advantage of this card's offers, and your credit score will play a big role in your chances of approval.

Below, CNBC Select breaks down the credit score requirements to get approved for the Citi Simplicity® Card.

Once approved, Citi Simplicity® Card0% introductory APR on purchases and balance transfers. 12-month introductory APR on purchases from the account opening date, and an amazing 21-month introductory APR on balance transfers completed within 4 months of account opening.

Once the introductory APR expires, a variable 19.24% – 29.99% APR will apply. Within the first 4 months of account opening, there is an initial balance transfer fee of 3% of the transferred amount (minimum $5). The standard transfer fee is 5% of the transferred amount (minimum $5).

While this card doesn't earn you points or a welcome bonus, the potential savings from a 0% introductory APR are very worthwhile. Let's say you have a 20% APR on an $8,000 credit card balance. If you pay it off over 21 months, it would cost you roughly Interest: $1,547Taking advantage of the Simplicity Card balance transfer offer could save you over $1,300 by paying just a $240 transfer fee.

Citi doesn't publish its official credit score requirements, but you'll generally need a good to excellent credit score to have the best chance of being approved for your loan. Citi Simplicity® Card.

There are several credit scoring models, but one of the most popular is the FICO® Score. This credit score is broken down into the following categories:

• Very bad: 300 to 579
• impartial: 580 to 669
• good: 670 to 739
• Very good: 740 to 799
• wonderful: 800 to 850

Your credit score is determined using information from your credit report. There are three major credit reporting agencies: Experian, Equifax, and TransUnion. Each credit score is calculated differently, but your FICO score is based on your payment history (35%), amount owed (30%), length of credit history (15%), new credit (10%), and credit mix (10%).

If your City Simplicity Card If your application is denied, you can apply for a different credit card that has an introductory APR offer, but these cards tend to have similar credit score requirements, so your best course of action is to focus on improving your credit or consider applying for a credit card that's easier to obtain.

Improve your credibility

The most sustainable way to improve your credit score is to always pay your bills on time, as payment history is one of the biggest factors in your credit score. You should also keep your debt and credit card balances as low as possible, ideally paying off your cards in full each month.

Over time, these habits will help boost your credit score, but there are ways to improve your credit score in the short term. *Experian Boost™ and eCredable Lift® Allowing additional information to be added to your credit report, such as payments to subscription services or utility providers, can help improve your credit score.

Experian Boost is free and only affects your Experian credit report. It also won't negatively impact your credit score as it only reports good activity. eCredable Lift, on the other hand, is a paid service that allows you to fill out your TransUnion credit report. We recommend not using this service to add accounts that are late on payments, as it will add good and bad history to your credit report.

Credit Card Alternatives to Consider

One convenient cash back credit card that generally only requires above average credit is: Citi Double Cash® CardYou'll earn at least 2% cash back on all purchases (1% on purchases and 1% on payments) and there's a generous introductory APR offer on balance transfers.

For new accounts, if you transfer a balance within the first 4 months of account opening, you'll receive a 0% introductory APR for 18 months (a variable 19.24%-29.24% APR thereafter). There's an initial balance transfer fee of 3% (minimum $5) for every transfer you make within the first 4 months of account opening, and the standard transfer fee is 5% (minimum $5) per transfer.

of Citi Simplicity® Card is a great option for people who want to transfer credit card balances and save on interest, but only those with healthy credit profiles are likely to be approved, as they typically require a good to excellent credit score (670 or above).

CNBC Select's mission is to provide our readers with quality service journalism and comprehensive consumer advice to help them make informed decisions about their money. Every credit card story is based on rigorous reporting by our team of expert writers and editors with extensive credit card knowledge. product. While CNBC Select earns commission from affiliate partners on many offers and links, we create all content without input from our commercial team or any outside third parties and pride ourselves on our journalistic standards and ethics.

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*Results will vary. Not all payments qualify for a boost. Some users may not receive an improved score or approval rate. Not all lenders use Experian credit files and not all lenders use scores that are affected by Experian Boost.™. learn more.