Citi® Diamond Preferred® Card
Citi® Diamond Preferred® Card
  • On Citibank's Secure Website
{"buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","category":"creditcards","disclaimers":["On Citibank's Secure Website"],"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/4461.png","isAvailable":true,"link":"\/credit-cards\/redirect\/27?url=_citi-diamond-preferred-credit-card","name":"Citi\u00ae Diamond Preferred\u00ae Card"}
Citi® Diamond Preferred® Card
Citi® Diamond Preferred® Card
  • On Citibank's Secure Website
{"buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","category":"creditcards","disclaimers":["On Citibank's Secure Website"],"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/4461.png","isAvailable":true,"link":"\/credit-cards\/redirect\/27?url=_citi-diamond-preferred-credit-card","name":"Citi\u00ae Diamond Preferred\u00ae Card"}

Citi® Diamond Preferred® Card: 18 Month Long 0% Intro APR For Balance Transfers

Citi® Diamond Preferred® Card: 18 Month Long 0% Intro APR For Balance Transfers

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

Editor's Rating

?
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers.","showIcon":false,"tooltipLabel":"?"}

This card is a great choice for those looking to save by avoiding considerable interest rate expenses on high card balances.
  • On Citibank's Secure Website
{"align":"center","buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","category":"creditcards","className":"AffiliateBanner--context-credit-card","context":" in context: Banner","cssNamespace":"AffiliateCreditCardTileBanner","disclaimers":["On Citibank's Secure Website"],"isButtonSquare":true,"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/4461.png","isUnavailable":false,"link":"\/credit-cards\/redirect\/27?url=_citi-diamond-preferred-credit-card","name":"Citi\u00ae Diamond Preferred\u00ae Card"}

Editor's Rating

?
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers.","showIcon":false,"tooltipLabel":"?"}

This card is a great choice for those looking to save by avoiding considerable interest rate expenses on high card balances.
  • On Citibank's Secure Website
{"align":"center","buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","category":"creditcards","className":"AffiliateBanner--context-credit-card","context":" in context: Banner","cssNamespace":"AffiliateCreditCardTileBanner","disclaimers":["On Citibank's Secure Website"],"isButtonSquare":true,"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/4461.png","isUnavailable":false,"link":"\/credit-cards\/redirect\/27?url=_citi-diamond-preferred-credit-card","name":"Citi\u00ae Diamond Preferred\u00ae Card"}

Citi is an advertising partner.

We recommend the Citi® Diamond Preferred® Card if you're looking to pay off credit card debt - it has one of the longest 0% APR introductory periods for balance transfers we've seen so far: 0% for 18 months on Balance Transfers. After the intro period your APR will be 14.74% - 24.74% (Variable), based on your creditworthiness. The savings in interest are very valuable for people carrying a large balance. If the no interest period on balance transfers isn't significant, or if you'll pay your bill in full after the no interest period ends, then we'd suggest applying for other cards as better investments.

Review: Is the Citi® Diamond Preferred® Card Worth It?

The Citi® Diamond Preferred® Card is an excellent balance transfer credit card. It offers a long promotional period of 0% for 18 months on Balance Transfers during which you don’t have to pay any interest on balance transfers. After the intro period your APR will be 14.74% - 24.74% (Variable), based on your creditworthiness. If you are struggling to pay off credit card debt, you should consider getting the Citi® Diamond Preferred® Card.

Good For…Bad For…
Intro APR of 0% for 18 months on Balance Transfers (then 14.74% - 24.74% (Variable)), which is longer than many other credit cardsForeign exchange fee limits the card's usefulness for travelers
Lack of any spending rewards

If you are someone who is looking for a rewards credit card, we suggest you look elsewhere, like the Citi® Double Cash Card – 18 month BT offer. The Citi® Diamond Preferred® Card doesn’t earn you any points, miles, or spending rewards of any kind. We recommend this card to anyone who isn't able to pay their balance in full each month.

Citi® Diamond Preferred® Card

  • On Citibank's Secure Website

$0

14.74% - 24.74% (Variable)

Excellent

  • 0% Intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
  • Shop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi® Identity Theft Solutions.
  • The standard variable APR for Citi Flex Plan is 14.74% - 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
{"annualFee":"$0","apr":"14.74% - 24.74% (Variable)","bannerDisclaimers":["On Citibank's Secure Website"],"buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","context":" in context: Banner","creditNeeded":"Excellent","creditNeededTooltip":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions.","details":"\u003Cul\u003E\u003Cli\u003E0% Intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.\u003C\/li\u003E\u003Cli\u003EThere is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater\u003C\/li\u003E\u003Cli\u003EGet free access to your FICO\u00ae Score online.\u003C\/li\u003E\u003Cli\u003EWith Citi Entertainment\u00ae, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.\u003C\/li\u003E\u003Cli\u003EShop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi\u00ae Identity Theft Solutions.\u003C\/li\u003E\u003Cli\u003EThe standard variable APR for Citi Flex Plan is 14.74% - 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.\u003C\/li\u003E\u003C\/ul\u003E","editorRating":"\u003Cdiv class=\"StarRating--root\"\u003E\u003Ci class=\"FontAwesome--root fa fa-star\" aria-hidden=\"true\"\u003E\u003C\/i\u003E\u003Ci class=\"FontAwesome--root fa fa-star\" aria-hidden=\"true\"\u003E\u003C\/i\u003E\u003Ci class=\"FontAwesome--root fa fa-star\" aria-hidden=\"true\"\u003E\u003C\/i\u003E\u003Ci class=\"FontAwesome--root fa fa-star\" aria-hidden=\"true\"\u003E\u003C\/i\u003E\u003Ci class=\"FontAwesome--root fa fa-star\" aria-hidden=\"true\"\u003E\u003C\/i\u003E\u003C\/div\u003E","editorRatingTooltip":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers.","featuredTitle":"","hideTitle":false,"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/4461.png","isUnavailable":false,"link":"\/credit-cards\/redirect\/27?url=_citi-diamond-preferred-credit-card","name":"Citi\u00ae Diamond Preferred\u00ae Card"}

Citi® Diamond Preferred® Card Benefits and Features

The Citi® Diamond Preferred® Card offers a whopping 0% for 18 months on Balance Transfers. After the intro period your APR will be 14.74% - 24.74% (Variable), based on your creditworthiness. This is one of the longest promotional balance transfer APR periods we’ve seen on any card. The balance transfer period starts from the date of the first transfer. For balance transfers to qualify, they must be transferred within the first 4 months of opening their account. Any transfers after this time will be faced with the same APR as is applied to purchases.

It’s important to note that a Balance transfer fee applies with this offer: 3% of each balance transfer; $5 minimum. If you mean to move over a large balance, you may want to consider opting for the Chase Slate®, which comes with a 0% balance transfer fee for the first 60 days (after that, a Balance transfer fee applies with this offer: 3% of each balance transfer; $5 minimum.)

The Citi® Diamond Preferred® Card also comes with 0% for 18 months on Purchases. This period begins upon the opening of the account. After the promotional period ends, cardholders will pay 14.74% - 24.74% (Variable) based on their credit worthiness. Individuals who never miss payments, and tend to not use a majority of their credit limit will find themselves on the lower end of this range.

Reducing Debt with the Citi® Diamond Preferred® Card

The Citi® Diamond Preferred® Card can save you on any mounting debt you may have on another credit card, thanks to the 0% intro APR offer extending to balance transfers. Transferring a balance will help you pay off your outstanding credit card debt faster, because you'll have a longer grace period where the amount isn't accumulating or compounding interest.

How does this work? Assume that you have an outstanding credit card balance. Assuming that, each month, you are making payments, you have interest accumulating that makes the balance harder to reduce. If you moved that balance over to the Citi® Diamond Preferred® Card, you would not have to pay those interest expenses for the number of months defined in the balance transfer period. Making the same payments, you would be ahead with your payments because you could forgo paying interest.

How does the Citi® Diamond Preferred® Card compare to other Credit Cards?

In order to see the true value of the Citi® Diamond Preferred® Card, you must be able to see how it compares to your other choices. To that end, we have prepared a side-by-side comparison of the card against its leading competitors.

Citi® Diamond Preferred® Card vs Citi Simplicity® Card - No Late Fees Ever

Both of these cards are solid picks to help you pay down debt. The Citi Simplicity® Card - No Late Fees Ever offers similar features - namely 0% for 18 months on Balance Transfers. Once the introductory period is up, the APR for this card will be 14.74% - 24.74% (Variable). Additionally, if you miss a payment the Citi Simplicity® Card - No Late Fees Ever will not charge you any late fees. We recommend against relying on a benefit like this, but it's nice to have. Be aware that missing credit card payments comes with an additional cost not mentioned here. Your credit score is bound to go down, and with it your future interest rates can go up.

Citi® Diamond Preferred® Card vs Citi® Double Cash Card – 18 month BT offer

  • On Citibank's Secure Website
{"align":"","buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","category":"creditcards","className":"AffiliateBanner--context-credit-card","context":" in context: Banner","cssNamespace":"AffiliateBanner","disclaimers":["On Citibank's Secure Website"],"isButtonSquare":false,"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/4475.png","isUnavailable":false,"link":"\/credit-cards\/redirect\/710?url=_citi-diamond-preferred-credit-card","name":"Citi\u00ae Double Cash Card \u2013 18 month BT offer"}

The Citi® Double Cash Card – 18 month BT offer is one of our favorite rewards credit cards. If you are someone who is diligent about always paying off their credit card bill in full each month and care about earning cash back, then we recommend going with a card like this, over the Citi® Diamond Preferred® Card. The Citi® Double Cash Card – 18 month BT offer will reward all the spending you do with it. You Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

Citi® Diamond Preferred® Card vs Chase Slate®

The Chase Slate® has a 0% Intro APR on Balance Transfers for 15 months. For balance transfers, that is less than what you’re given with the Citi® Diamond Preferred® Card. Once the promotional period ends on both cards, the Chase Slate® can have an APR of 16.49% - 25.24% Variable, compared to 14.74% - 24.74% (Variable) for the Citi® Diamond Preferred® Card.

As a balance transfer credit card, the Chase Slate® is one of our favorites, due to its introductory offer of no transfer fees on balances transferred within the first 60 days of card membership. This can have a huge impact for anyone who needs to move over large balances. Citi® Diamond Preferred® Card users who want to transfer a balance to their card must pay either Balance transfer fee applies with this offer: 3% of each balance transfer; $5 minimum.

The information related to the Chase Slate® and the Citi Simplicity® Card - No Late Fees Ever have been independently collected by ValuePenguin and have not been reviewed or provided by the issuer of this card prior to publication.

Joe Resendiz

Joe Resendiz is a former investment banking analyst for Goldman Sachs, where he covered public sector and infrastructure financing. During his time on Wall Street, Joe worked closely with the debt capital markets team, which allowed him to gain unique insights into the credit market. Joe is currently a research analyst who covers credit cards and the payments industry. He earned a bachelor’s degree from the University of Texas at Austin, where he majored in finance.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).

  • On Citibank's Secure Website
{"align":"center","buttonColor":"primary","buttonIcon":"lock","buttonText":"Apply Now","category":"creditcards","className":"AffiliateBanner--context-credit-card","context":" in context: Banner","cssNamespace":"AffiliateCreditCardTileBanner","disclaimers":["On Citibank's Secure Website"],"isButtonSquare":true,"imageURL":"https:\/\/cdn.comparecards.com\/uploads\/images\/items\/4461.png","isUnavailable":false,"link":"\/credit-cards\/redirect\/27?url=_citi-diamond-preferred-credit-card","name":"Citi\u00ae Diamond Preferred\u00ae Card"}