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Citi® Diamond Preferred® Card

Citi<sup>®</sup> Diamond Preferred<sup>®</sup> Card

Citi® Diamond Preferred® Card

Intro Purchase APR
0% for 12 months on Purchases
Intro Balance Transfer APR
0% for 21 months on Balance Transfers
Regular Purchase & BT APR
13.74% - 23.74% (Variable)
Edited by
Julie Sherrier
Reviewed by
Tracy Brackman
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.

Who is the Citi® Diamond Preferred® Card best for?

If you’re overwhelmed by credit card debt and looking for a good balance transfer card to get some relief from interest charges, the Citi® Diamond Preferred® Card, issued by our partner Citi, can help.

With an interest-free period for a year and a half, the Citi® Diamond Preferred® Card offers one of the longest introductory APRs on balance transfers cards currently available. Just know, the card isn’t designed for individuals with poor credit or for those who want to earn rewards. Additionally, while the card comes with a $0 annual fee, it does charge balance transfer fees.

In addition, the card is also offering an intro APR period for purchases, which can help you finance a large expense for over a year without incurring interest charges.

We provide an overview of the pros and cons of the Citi® Diamond Preferred® Card, and show how it compares to a similar balance transfer credit card – the Chase Slate Edge℠.

Citi® Diamond Preferred® Card overview

    • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 13.74% - 23.74%, 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 5% 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 13.74% - 23.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.
  • Credit needed:
    660 850
    Excellent/Good
  • Special access to events through Citi Entertainment℠
  • Citi® Identity Theft Solutions
  • 24/7 customer service
  • Choose your payment due date
  • Automatic account alerts

Intro Purchase APR

0% for 12 months on Purchases

Regular Purchase APR

13.74% - 23.74% (Variable)

Intro BT APR

0% for 21 months on Balance Transfers

Regular BT APR

13.74% - 23.74% (Variable)

Annual Fee

$0

Cash Advance Fee

5% of each cash advance; $10 minimum

Foreign Transaction Fee

3%

Balance Transfer Fee

Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

Pros and cons

Pros

  • Intro APR on balance transfers
  • Intro APR on purchases
  • $0 annual fee

Cons

  • Balance transfer fee
  • No rewards program
  • Foreign transaction fees

What we like about the Citi® Diamond Preferred® Card

  • Intro APR on balance transfers

    The Citi® Diamond Preferred® Card provides a generous intro APR of 0% for 21 months on balance transfers. Once the intro period ends, an ongoing APR of 13.74% - 23.74% (variable) will apply to any unpaid portion of the transfer.

  • Intro APR on purchases

    If you’re planning to make a big ticket purchase and pay it off over time, the Citi® Diamond Preferred® Card also has a similar intro purchase deal. The card offers an intro APR of 0% for 12 months on Purchases. After that, a regular APR of 13.74% - 23.74% (Variable) applies to any remaining balance.

  • Annual fee

    The Citi® Diamond Preferred® Card  charges a $0 annual fee.

What to watch out for with the Citi® Diamond Preferred® Card

  • Balance transfer fee

    A balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

    Although a transfer fee is typical with most balance transfer credit cards, you can find a card without a balance transfer fee – but you might receive a shorter intro period.

  • No rewards program

    The Citi® Diamond Preferred® Card does not provide a sign-up bonus or rewards on the purchases you make using the card. But this shouldn’t be a big deal breaker if the motivation behind applying for the card is to save on interest charges via the 0% APR intro offers.

  • Foreign transaction fees

    If you use your Citi® Diamond Preferred® Card to make purchases outside of the U.S., you will be subject to foreign transaction fees of 3% of each purchase transaction after it’s conversion into U.S. dollars.

Alternate balance transfer card

Compare it to the Chase Slate Edge℠

The Citi® Diamond Preferred® Card and Chase Slate Edge℠ are similar in that both offer $0 annual fees as well as intro APRs on purchases and balance transfers for a year or more. Also, neither card comes with a rewards program.

The Chase Slate Edge℠ offers slightly shorter interest-free periods on purchases and balance transfer than the Citi® Diamond Preferred® Card. However, new Chase Slate Edge℠ cardholders can receive a $100 bonus on your statement when you spend $500 in your first six months from account opening.

Plus, there is an automatic review of your account for a potentially higher credit limit after you spend $500 on the card within the first six months, provided your payments have been made on time. And if you spend at least $1,000 on your card within a year (and you pay on time), you may also be automatically considered for an APR reduction of up to 2%.

Compare the Citi® Diamond Preferred® Card to similar cards

Comparison of four different credit cards
Citi<sup>®</sup> Diamond Preferred<sup>®</sup> Card Chase Slate Edge℠ Citi<sup>®</sup> Double Cash Card – 18 month BT offer Citi Simplicity<sup>®</sup> Card
Citi® Diamond Preferred® Card Chase Slate Edge℠ Citi® Double Cash Card – 18 month BT offer Citi Simplicity® Card
Apply Now
on Citibank's secure site
Read Review
Apply Now
on Citibank's secure site
Apply Now
on Citibank's secure site
Annual Fee
$0 $0 $0 $0
Welcome Offer
None. Receive a $100 bonus on your statement when you spend $500 in your first six months from account opening. No bonus N/A
Rewards Rate
N/A N/A Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. N/A
Intro Balance Transfer Rate
0% for 21 months on Balance Transfers 0% Intro APR on Balance Transfers for 12 months. 14.99 - 23.74% Variable after. 0% for 18 months on Balance Transfers 0% for 21 months on Balance Transfers
Regular Balance Transfer Rate
13.74% - 23.74% (Variable) 14.99 - 23.74% Variable 13.99% – 23.99% (Variable) 14.74% - 24.74% (Variable)
Intro Balance Transfer Rate
0% for 21 months on Balance Transfers 0% Intro APR on Balance Transfers for 12 months. 14.99 - 23.74% Variable after. 0% for 18 months on Balance Transfers 0% for 21 months on Balance Transfers
Regular Balance Transfer Rate
13.74% - 23.74% (Variable) 14.99 - 23.74% Variable 13.99% – 23.99% (Variable) 14.74% - 24.74% (Variable)
Balance Transfer Fee
Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum. Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After, either $5 or 5% of the amount of each transfer, whichever is greater. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Recommended Credit
Excellent/Good Excellent/Good Excellent/Good Excellent/Good
Card Details
Citi® Diamond Preferred® Card

Chase Slate Edge℠

Citi® Double Cash Card – 18 month BT offer Citi Simplicity® Card

Is the Citi® Diamond Preferred® Card right for you?

For someone looking to save money on interest charges while paying down debt or financing a large purchase, the Citi® Diamond Preferred® Card provides a lengthy intro APR on balance transfers and purchases.

That said, if you don’t think you’ll need all that time to pay off your debt, the Chase Slate Edge℠ card may be a better choice. In addition to offering an intro APR on balance transfers and purchases for a year, the card offers a signup bonus and the opportunity to reduce your card’s APR once you meet the spending requirements.

The information related to the Chase Slate Edge℠ has been independently collected by LendingTree 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 are no longer available.

Apply Now
on Citibank's secure site