Citi Diamond Preferred Card Review 2024
- Overview
- Rewards
- Benefits
- Fees
- Compare the Citi® Diamond Preferred® Credit Card
- FAQs
- Why You Should Trust Us
Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews.
The information for the following product(s) has been collected independently by Business Insider: Citi® Diamond Preferred® Card, Chase Freedom Flex®, U.S. Bank Visa® Platinum Card, Citi Simplicity® Card. The details for these products have not been reviewed or provided by the issuer.
The Citi® Diamond Preferred® Card 's biggest selling point is the 0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months (then a 18.24% - 28.99% Variable APR).
This zero-interest introductory offer is one of the longest 0% intro APR periods we've seen from any credit card. However, the Citi® Diamond Preferred® Card doesn't earn rewards for spending, nor does it usually come with a welcome bonus offer.
Citi® Diamond Preferred® Card
Insider’s Rating Info icon Insider's Ratings are decided by our editorial team. The rating system considers various factors and evaluates cards against others of the same type so you can pick a card that is a good fit for your goals. A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star Icon of check mark inside a promo stamp It indicates a confirmed selection. PerksAnnual Fee$0
Intro APR0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months
Regular APR18.24% - 28.99% Variable
Intro OfferN/A
Recommended CreditGood to Excellent
Pros- Check mark icon A check mark. It indicates a confirmation of your intended interaction. Very long intro APR period for balance transfers
- Check mark icon A check mark. It indicates a confirmation of your intended interaction. No annual fee
- con icon Two crossed lines that form an 'X'. Charges a balance transfer fee
- con icon Two crossed lines that form an 'X'. No rewards (but that’s not the point of this card)
The Citi® Diamond Preferred® Card's biggest selling point is the intro APR on balance transfers and purchases — among the longest of any card with an intro APR offer. However, it doesn't earn rewards for spending, nor does it usually come with a welcome bonus offer.
Citi Diamond Preferred Card chevron down icon An icon in the shape of an angle pointing down.Citi® Diamond Preferred® Card Overview
When you begin looking at zero-interest credit cards, you'll probably notice that quite a few rewards credit cards offer a 0% intro APR on purchases and/or balance transfers for a limited time. This includes popular cash-back credit cards like the Chase Freedom Flex® and the Chase Freedom Unlimited®.
The Citi® Diamond Preferred® Card's intro rate makes it ideal for those who want to consolidate high-interest debt or who want to make a large purchase and pay down the balance slowly without interest over time.
Balance transfers must be completed within the first four months of account opening in order to qualify for the zero-interest introductory offer, and you'll owe a balance transfer fee of 5% of the amount you transfer over (minimum $5).
This can still translate to significant savings compared to carrying the balance on a high-interest credit card as long as you pay off what you owe before the promotional APR period runs out.
Citi® Diamond Preferred® Card Rewards
This card doesn't offer a traditional welcome bonus, nor does it offer any rewards on spending. Instead, the main selling point of the Citi® Diamond Preferred® Card is its long 0% introductory APR period.
Citi Diamond Preferred Card Benefits
The Citi® Diamond Preferred® Card doesn't offer many benefits beyond its intro interest rate offer. Here are the main perks you should know about.
0% Introductory APR
The card's crown jewel is its ability to waive interest on balances transferred to the card for 21 months. That's an exceptionally long time — and one of the best intro APR periods — for consumers hoping to avoid incurring high interest fees.
The Citi® Diamond Preferred® Card also offers 0% intro APR on new purchases for 12 months, which is very helpful for big-ticket expenses that you can't or don't want to pay off all at once.
Free FICO Score Access
As a Citi® Diamond Preferred® Card cardholder, you can have free access to your FICO score at any time. This tool can help you monitor changes or improvements to your credit score, or find out quickly if your score drops.
Entertainment Benefits
Citi® Diamond Preferred® Card holders also get Citi Entertainment benefits, which include special or early access to tickets to concerts, sporting events, dining experiences, and more.
Citi® Diamond Preferred® Card Annual Fee and Other Costs
The Citi® Diamond Preferred® Card has no annual fee, but there are some ongoing fees to be aware of:
- Foreign transaction fee: 3% of each purchase transaction in US dollars (consider one of the many credit cards that don't charge foreign transaction fees to save money when you travel abroad instead)
- Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
After your intro APR period ends, you'll be subject to 18.24% - 28.99% Variable APR — a fee that can be completely avoided by not carrying a balance on your cards.
Compare the Citi® Diamond Preferred® Card
The best balance transfer credit cards with longer 0% intro APR offers and no rewards programs are designed for people who need to pay down debt. While the lack of rewards can be a downside, you can save a significant amount of money from interest you'd otherwise be paying on a high-interest credit card. Avoiding rewards can also elp you focus more on debt repayment by lessening the temptation to spend money.
In addition to the Citi® Diamond Preferred® Card, several other credit cards offer extra-long intro APR offers, such as the U.S. Bank Visa® Platinum Card (0% intro APR on purchases and balance transfers for 18 billing cycles, then a 18.74% - 29.74% Variable APR) or the Citi Simplicity® Card (0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months, then a 19.24% - 29.99% Variable APR). However, these cards don't come with a welcome bonus or earn rewards.
Just remember that, whichever card you choose, you'll still have to make the minimum payment each month, and your intro 0% APR offer won't last forever. You'll need to focus on paying off as much debt as you can since you'll eventually be charged the ongoing variable APR on your remaining balance.
Citi® Diamond Preferred® Card Frequently Asked Questions
Is the Citi Diamond Preferred hard to get? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Most folks who are approved for the Citi® Diamond Preferred® Card have a credit score in the good to excellent range — that is, a FICO score of 670 or more.
How do you transfer a balance to the Citi Diamond Preferred? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.Transferring a balance is easy to do online through the "Balance Transfers" section under the "Payments and Transfers" menu in your Citi account. You'll be given the option to add the account details of the creditor or account you'd like to transfer a balance from, along with the amount you'd like to transfer to your Citi® Diamond Preferred® Card account.
You can also complete this process over the phone by calling the number on the back of your card. Be sure to complete any balance transfers within four months of account opening to take advantage of the card's 0% intro APR offer.
Is the Citi Diamond Preferred a good card? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.The Citi® Diamond Preferred® Card is a great card if you're looking to consolidate high-interest debt by taking advantage of a long intro balance transfer offer. Doing so can save you hundreds of dollars or more, as long as you have the means and plan to pay off your balance before the intro period expires. You should weigh the pros and cons beforehand to decide if a balance transfer is worth it for your situation.
What is the Citi Diamond Preferred credit limit? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.You can be approved for a credit limit as low as $500 or over $10,000. Your credit limit will depend on your creditworthiness.
How do you get a credit limit increase with the Citi Diamond Preferred? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.You can ask for a credit limit increase by calling Citi or making an online request. Just note that you almost certainly will not qualify if you make this request a month or two after opening your card. Citi will want to see a track record of healthy credit before extending more.
Does the Citi Diamond Preferred have rewards? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.The Citi® Diamond Preferred® Card does not earn rewards.
Why You Should Trust Us: How We Reviewed the Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card is first and foremost a 0% intro APR credit card. We've examined the card's rewards rate and various fees against cards in the same category to arrive at our rating of 2.75 stars out of 5 stars.
To find out more about Business Insider's methodology for picking the best credit cards, read our guide to how we rate credit cards.
Holly Johnson Freelance Writer Holly Johnson is a credit card expert, award-winning writer, and mother of two who is obsessed with frugality, budgeting, and travel. In addition to serving as contributing editor for The Simple Dollar and writing for publications such as Bankrate, U.S. News and World Report Travel, and Travel Pulse, Johnson owns Club Thrifty and is the co-author of "Zero Down Your Debt: Reclaim Your Income and Build a Life You’ll Love." Read more Read less 
Angela Fung Marketing Compliance Manager Angela Fung is the Compliance Manager for Business Insider's Personal Finance division, overseeing a team that ensures content accuracy and editorial independence so readers are always getting up-to-date and objective financial advice.The compliance team's mission is to maintain reader trust by confirming stories are fact-checked and current so that readers can make informed financial decisions. The team also works to minimize risk for partners by maintaining clear, precise language that is compliant with regulatory and partner marketing guidelines that align with the editorial team. Read more Read less Top Offers From Our Partners 
Chime® Checking Account Set up Direct Deposit and get your paycheck up to 2 days before your coworkers.** No overdraft fees. No monthly fees. A tooltip Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. **Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Start BankingEditorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.
Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.
**Enrollment required.
ncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufonyxsdGspqeZnGKzqrrAp5qeZ5Oewap5w6KYpqeemXqxvsSfnKuqlZl6pL7EnaCtZZOWv6V50Z6top2n