Citi Simplicity

WHY IT WINS

If you’re going to need extra time to pay off a big purchase, the Citi Simplicity card gives you an industry-leading 21 months of 0% interest at the outset—with no annual fee, no late payment fee, and no penalty APR for late payments. It’s like getting a 0% loan for almost two years. If you were to spend $15,000 on the card—to repair your roof, for instance—you would come out debt-free after 21 monthly payments of about $714.

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CAVEATS

You also get the 21-month 0%-APR period on balance transfers, but you would have to pay a 3% fee— and you’d need to make the transfer within four months of opening the account.

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TERMS

Annual fee: $0
APR: 0% for first 21 months, then 13.2% to 23.2%.
Late fee/penalty APR: None