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How to do a Balance Transfer with Citi

How to do a Balance Transfer with Citi

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Apr 14, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

Balance transfers can be a great way for you to get out of debt on a high interest credit card. By transferring a balance from a credit card with a high interest rate to a card with a low or 0% intro rate, you’re buying yourself extra time to pay down your debt while avoiding interest charges that can delay your progress — so long as you pay off your debt before the end of the intro period.

Citi has four cards that offer balance transfers. This guide shows you how to complete a balance transfer with Citi, and provides best practices for completing your transfer as well as summaries of the available balance transfer cards.

Complete your transfer online

Citi allows you to complete balance transfers quickly and easily online in a matter of minutes. You can request a transfer online after you’ve received your card in the mail and have signed up for online banking. See below for the steps you need to take.

1. Log in to your account. You should see that you’re eligible for a balance transfer. Select “View Offer.”

citi balance transfer step 1

2. Choose an offer

You should see your available balance transfer offers. In the example above, this person has had this card for a while, and they are no longer eligible for the 0% intro rate, hence the 1.99% promo APR offer.

Select “I want this offer.”

citi balance transfer step 2

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

3. Start your transfer

That will drop down more details regarding your offer. After reviewing the details, select “Start your Transfer.”

citi balance transfer step 3

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

4. Choose the type of transfer you want to complete.

Keep in mind, you can’t transfer balances from other accounts issued by Citibank or its affiliates. You have four transfer options: credit card, direct deposit, check by mail and loan or other creditor. I selected credit card for the sake of this example since that most likely will be the common choice.

Then, select “Continue.”

citi balance transfer step 4

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

5. Fill out the form

Fill in the amount you are transferring and your account number of the credit card with the debt. Then, select “Find my creditor.”

citi balance transfer step 5

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

6. Verify your info

Now, your creditor information should appear. Verify this and select “Continue.”

citi balance transfer step 6

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

7. Add more balances

You can add additional transfer requests (four total) if needed. Select “Continue” when you’re finished adding creditors.

citi balance transfer step 7

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

8. Review and submit

Last, review your transfer request and the terms and conditions. After that’s done, check the box agreeing to the terms and conditions, and submit the transfer.

citi balance transfer step 8

*The Rates and Fees listed above are accurate as of Month, Day, Year and may have since changed.

Complete your transfer by phone

If you prefer to complete a transfer over the phone, simply call the number on the back of your card to speak to a representative.

You’ll need the following information to complete your transfer over the phone:

  • Name on the account with the debt
  • Amount to be transferred

Balance transfer cards from Citi

  • 0%* for 12 months on Purchases*

  • 0%* for 21 months on Balance Transfers*

  • 16.74% - 26.74%* (Variable)

Highlights
  • No Late Fees, No Penalty Rate, and No Annual Fee... Ever
  • 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that, the variable APR will be 16.74% - 26.74%, based on your creditworthiness
  • 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 16.74% - 26.74%, based on your creditworthiness
  • If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balances, are paid in full
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day – just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month

See additional details for Citi Simplicity® Card - No Late Fees Ever

More Info

The Citi Simplicity® Card - No Late Fees Ever has a long intro 0%* for 21 months on Balance Transfers* and intro 0%* for 12 months on Purchases* with 16.74% - 26.74%* (Variable) APR after the intro period. The balance transfer fee is 5% of each balance transfer; $5 minimum. This card also has no late fees and no penalty APR, although you should always make on-time payments.

  • Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

  • 0% for 21 months on Balance Transfers

  • 15.99% - 25.99% (Variable)

Highlights
  • 0% intro APR on Balance Transfers for 21 months. After that, the variable APR will be 15.99% - 25.99% based on your creditworthiness.
  • The standard variable APR for Citi Flex Plan is 15.99% - 25.99% based on your creditworthiness.
  • Balance Transfers do not earn cash back
  • Earn 2% cash back on purchases:  1% when you buy and 1% as you make payments for those purchases.
  • To earn cash back, pay at least the minimum due on time
  • No categories to track, no caps on cash back, no annual fee

See additional details for Citi® Double Cash Card – 21 month BT offer

More Info

The Citi® Double Cash Card – 21 month BT offer is a great choice for a cashback card and balance transfer card with intro 0% for 21 months on Balance Transfers (15.99% - 25.99% (Variable) APR, ongoing). There is a balance transfer fee at 5% of each balance transfer; $5 minimum. In addition, you can Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay., allowing you to benefit from using your card to make new purchases — just keep in mind there is no 0% intro period for purchases.

The Citi ThankYou® Preferred Card has the shortest balance transfer offer with intro 0% for 15 Months on balance transfers* on balance transfers and intro 0% for 15 Months on purchases* on purchases (after, 15.49% - 25.49%* (Variable) APR). The balance transfer fee is either $5 or 3%, whichever is greater. However, you can earn rewards with this card — Earn 2X Points on Dining Out & Entertainment and Earn 1X Points on All Other Purchases. If you want a versatile card and often spend on dining and entertainment, this can be a good choice.

The information related to the Citi ThankYou® Preferred Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. This offer and/or promotion may have since changed, expired, or is no longer available.

The Citi® Diamond Preferred® Card offers the longest intro period among Citi cards with intro 0%* for 18 months on Balance Transfers* and a subpar intro 0%* for 18 months on Purchases* (after, 15.24% - 25.24%* (Variable) APR). This can be more than enough time to pay off transferred balances, especially if you’re someone with a lot of debt. There is a standard balance transfer fee: 5% of each balance transfer; $5 minimum.

The information related to the Citi® Diamond Preferred® Card and the Citi ThankYou® Preferred Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. 

Check out our roundup of the best balance transfer credit cards.


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April 13, 2018