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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Advertising Disclosure

LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).
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American Express Disclosure
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

American Express Disclosure

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

Citi® Diamond Preferred® Card Review

LendingTree's Review

How LendingTree Rates Credit Cards?

Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
3.3
Citi<sup>®</sup> Diamond Preferred<sup>®</sup> Card
Intro Purchase APR
0% intro APR for 12 months on Purchases
Intro Balance Transfer APR
0% intro APR for 21 months on Balance Transfers
Regular Purchase & BT APR
18.24% - 28.99% (Variable)
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It was not reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
Citi is an advertising partner.

Our take: The Citi® Diamond Preferred® Card, with its lengthy intro APR offer, is a good option for a balance transfer, but charges an expensive transfer fee.

Is the the Citi® Diamond Preferred® Card a good card?

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 can help.

The Citi® Diamond Preferred® Card offers one of the longest introductory APRs on balance transfers cards currently available. The card also offers an intro APR period for purchases, which can help you finance a large expense for over a year without incurring interest charges.

While the Citi® Diamond Preferred® Card has a $0 annual fee, take note that a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum. You may want to consider other balance transfer cards that offer comparable intro offer terms but charge balance transfer fees of 3% or less.

The Citi® Diamond Preferred® Card doesn’t earn rewards, so it’s not a great card to keep in the long term. If you want a card that earns rewards, a rewards credit card or cash back credit card is a better fit.

Pros and cons

  • Extremely long intro APR offer on balance transfers
  • Solid intro APR on purchases
  • $0 annual fee
  • Expensive balance transfer fee
  • High ongoing APR
  • No rewards program
  • Foreign transaction fees
  • No sign-up bonus
  • Few other benefits

Quick facts

    • 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 18.24% - 28.99%, 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.
    • No Annual Fee - our low intro rates and all the benefits don’t come with a yearly charge
  • Recommended Credit
    Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion
  • 660 720 850
    Good/Excellent
  • Special access to events through Citi Entertainment®
  • 24/7 customer service
  • Choose your payment due date
  • Automatic account alerts

Intro Purchase APR

0% intro APR for 12 months on Purchases

Regular Purchase APR

18.24% - 28.99% (Variable)

Intro BT APR

0% intro APR for 21 months on Balance Transfers

Regular BT APR

18.24% - 28.99% (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.

Benefits of the Citi® Diamond Preferred® Card

  • Long intro APR on balance transfers

    The Citi® Diamond Preferred® Card provides a generous intro APR of 0% intro APR for 21 months on Balance Transfers (then a 18.24% - 28.99% (Variable) APR applies). This is one of the longest introductory periods currently available for a balance transfer credit card, making the Citi® Diamond Preferred® Card a good option if you need a long period to pay off a balance.

  • Intro APR for new purchases

    The Citi® Diamond Preferred® Card also features an introductory APR of 0% intro APR for 12 months on Purchases (followed by a 18.24% - 28.99% (Variable) APR). This can allow you to finance large purchases over time while avoiding costly interest charges.

    This is a decent intro period for a purchase APR, especially if you’re searching for a card that offers a combination of balance transfer and purchase intro offers. However, other 0% intro APR cards exist, like the Wells Fargo Reflect® Card, offer longer intro periods on purchases and may be a better option if you want to spread out payments for a longer period.

Drawbacks of the Citi® Diamond Preferred® Card

  • Sky-high balance transfer fee

    When considering the Citi® Diamond Preferred® Card, note that a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum. The average fee on balance transfers offers is around 3%, so you could end up paying much more overall (possibly over $100 in fees) with the Citi® Diamond Preferred® Card compared to other cards.

    As you can see from our estimates below, you can find cards with similar intro periods, like the BankAmericard® credit card, that can save you some money on a balance transfer.

    Savings on a $6,000 balance transfer

    Balance transfer feeCost of balance transferEstimated savings*
    BankAmericard® credit card3% intro fee for 60 days, then 4%.$180$1,180
    First Tech Choice Rewards World Mastercard®$0$0$1,217
    U.S. Bank Visa® Platinum CardAn introductory fee of either 3% of the amount of each transfer or $5 minimum, whichever is greater, for balances transferred within 60 days of account opening. After that, either 5% of the amount of each transfer or $5 minimum, whichever is greater.$180$1,161
    Citi® Diamond Preferred® CardBalance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.$325$1,060
    *We estimate how much the average cardholder might save on a $6,000 balance transfer, assuming the card’s intro period, average APR, a $300 monthly payment and subtracting any fees involved, compared to carrying the same balance on another card.

  • High ongoing APR

    If you do use the card’s balance transfer offer, plan on paying off the full balance before the introductory period ends to avoid costly interest charges. Once the intro period ends, an ongoing APR of 18.24% - 28.99% (Variable) will apply to any unpaid portion of the transfer.

  • No rewards program

    The Citi® Diamond Preferred® Card is a great tool if you’re focused on paying down a card balance. However, if you’re seeking to earn cash back or points on your spending, you’re out of luck with this card.

    If you want to get rewarded for card spending, you’ll find plenty of balance transfer credit cards that earn rewards, like the Chase Freedom Unlimited®.

  • Foreign transaction fees

    The card carries a 3% foreign transaction fee on each purchase transaction after its conversion into U.S. dollars.

    If you plan on traveling, consider keeping another card in your wallet to use for purchases outside of the U.S. For example, the Capital One SavorOne Cash Rewards Credit Card may be a better option for travelers because of its lack of foreign transaction fees while still carrying a lengthy intro APR offer on balance transfers and purchases.

    A balance transfer fee applies for promotional rates that Capital One may offer.
    *To see rates & fees for Capital One SavorOne Cash Rewards Credit Card, please click here.
  • Few other benefits

    Beyond its intro APR offer, there’s little reason to carry the Citi® Diamond Preferred® Card. The card offers few other benefits or perks. In comparison, you can find many balance transfer cards with rewards and benefits on top of their introductory offers. For example, the Wells Fargo Active Cash® Card features a 0% intro APR for 15 months from account opening on qualifying balance transfers (followed by a 20.24%, 25.24%, or 29.99% Variable APR), up to $600 of cellphone protection, 24/7 Visa concierge service and access to Visa’s Luxury Hotel Collection.

Alternate to the Citi® Diamond Preferred® Card

| Disclosures
Wells Fargo Reflect® Card*
Wells Fargo Reflect® Card
Learn More
on Wells Fargo's secure site
0% intro APR 21 months from account opening
18.24%, 24.74%, or 29.99% Variable APR
$0
None
  • Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
  • 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 18.24%, 24.74%, or 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
  • $0 Annual Fee.
  • Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
  • Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
660 720 850
Good/Excellent
*The information related to the Wells Fargo Reflect® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

The Wells Fargo Reflect® Card comes with a 0% intro APR for 21 months from account opening on qualifying balance transfers (followed by a 18.24%, 24.74%, or 29.99% Variable APR). This is the same intro period for balance transfers and a longer period on purchases as Citi® Diamond Preferred® Card.

Like the Citi card, the Wells Fargo Reflect® Card has a $0 annual fee, but it also includes benefits like cellphone protection, 24/7 roadside dispatch and free FICO® score monitoring. With lower fees, a potentially equal intro APR offer and other perks, the Wells Fargo Reflect® Card simply offers more value than Citi® Diamond Preferred® 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. Because of its pricey balance transfer fee, though, another balance transfer credit card may be a better option to save money long term.

If you’re looking for more value and benefits from a card, the Capital One SavorOne Cash Rewards Credit Card earns rewards while still allowing you to transfer a balance or make purchases without interest charges for a long period.

A balance transfer fee applies for promotional rates that Capital One may offer.
Learn More
on Citibank's secure site

Frequently asked questions

Credit limits can vary between cardholders. Citi sets credit limits based on your creditworthiness and other determining factors, like your income and outstanding debt. According to Citi’s terms and conditions, your credit limit could be as low as $500.

The Citi® Diamond Preferred® Card can be hard to get for applicants with lower credit scores. You’ll need excellent/good credit to qualify.

The Citi® Diamond Preferred® Card is a plastic credit card, not a metal card.

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