Citi ThankYou Perferred vs Simplicity?

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Citi ThankYou Perferred vs Simplicity?

Postby thomasc93 » Fri Jul 18, 2014 12:03 am

Hi, everyone!

So I'm a 21 year old college student who will be studying abroad for the year in Germany starting in about a month. My main source of money will be wiring money from an account in the States to a German bank account, but as an emergency source of funds (just in case anything happens), I'm currently looking for a credit card to take with me.

The two cards I'm currently looking at are the Citi Simplicity card and the Citi ThankYou Preferred card. I like the fact that they both have an EMV chip (which is much more accessable in Germany vs a magnetic strip), and they both have their own individual perks. Simplicity's no late fee deal is nice, but I do like the ThankYou points. I had a Citi Forward card for a while ($4000 CL, insane 23.99% APR), and I did enjoy the ThankYou points from that card.

My mom will be obtaining the card for me and will be adding me as an authorized user since I have a relatively limited credit history. My question for everyone is which card do you think would be better? It's my understanding that Simplicity is better for balance transfers, and since I don't have a balance to transfer, it would be okay to take advantage of the perks of the ThankYou Preferred as long as I pay it off at the end of the month and don't make late payments. Like I said, this card will be for emergencies only for the most part. I'll be putting $100-$200 on the card every month just to keep it active (I can afford to pay this off at the end of the month myself), but other than that, it will only be used for emergencies only. Any emergency charges that get put on the card my mom will help me pay, so I don't have to worry about that.

Thanks for the input! :)

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Postby attrapereves » Fri Jul 18, 2014 10:24 am

The chip in most American credit cards will work in limited places in Europe. We use chip and signature and Europe uses chip and pin. I'd rely more on a magnetic stripe credit card. Look for a travel friendly card with little international fees.

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Postby PlyrStar93 » Fri Jul 18, 2014 3:13 pm

From what I see the Simplicity card's no late fee deal does not mean you can pay whatever little amount each month. There is still a minimum payment due and if you miss the due date by 30 days they can still report late payments to credit bureaus. Also not making timely payments demonstrate higher credit and financial risk to creditors.

Apart from the no late fee thing, whatever perk (price rewind, extended warranty, etc) on the Simplicity is included in the TY Preferred, so when not considering the no late fee perk the TY Preferred can be thought as a Simplicity plus rewards, since the Simplicity is not a rewards credit card. Emergency charges, if paid timely, still earn rewards, so it at least can be better than nothing.

Simplicity has 18 months interest free period on purchases and balance transfers, which is 6 extra months compared to the Preferred. Not sure if you are going to take advantage of that.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

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