Citi Diamond Preferred is a good balance transfer card for people with good credit or better who need a long time to pay off their balance. Diamond Preferred lets you do that at a reduced rate. It offers an introductory APR of 0% for 21 months on balance transfers. It also has a $0 annual fee.
The offer isn’t perfect though. Citi Diamond Preferred’s balance transfer fee is 5% (min $5). Most balance transfer cards charge 3% or less. The regular APR that applies to any balance not paid off within the intro period is pretty high too.
You can request a Citi Diamond Preferred balance transfer when you apply for the card. Citi accepts balance transfers from other credit cards, auto loans, student loans and other credit accounts. But you can’t transfer a balance from another Citi loan or credit card to Diamond Preferred.
Since Diamond Preferred only allows balance transfers up to or below your available credit limit, and you won’t know what your credit limit is until you’re approved, you may not get the entire balance transfer amount you request. Balance transfer requests over the available credit limit are usually rejected. But in some cases, Citi will adjust the amount so it falls under the approved credit limit. Balance transfer approvals may take up to 30 days.
It’s hard to say with any certainty, unfortunately. Your credit limit will be determined based on your credit standing, income and existing debt obligations. And you will be informed what it is when you receive your card. You can check your credit score for free on WalletHub, which is the first and only site to offer … read full answerfree credit scores and full credit reports that are updated on a daily basis. Again, sorry we could not provide more-detailed information.
To do a Citi balance transfer, apply for a Citi credit card with a low introductory APR on transferred balances. Fill out the balance transfer section of the application with the amount you wish to transfer. Include the name, contact information, and account number of the creditor(s) from which you’ll be transferring the balance. A balance transfer fee may apply to each balance transferred. If approved, you’ll receive your card within 14 days of the decision. … read full answer
According to Citi, balance transfers from credit cards, auto loans, student loans and several other sources are allowed, as of February 2019. However, Citi will not accept a balance transfer from another Citi account.
Here is how to do a balance transfer with Citi:
Apply for a Citi balance transfer credit card.
Select the transfer a balance option.
Provide the name, address and account number of any creditor(s) and the amount(s) you’d like to transfer.
Complete the rest of the application, submit it, and wait for a decision. Pending applications can take up to 30 days.
If you’re approved for an account, you should receive your new card within 14 days after approval.
If you already have a Citi credit card account, you can request a balance transfer online. You can also call customer service at 1 (800) 374-9700.
When you do a balance transfer with Citi, make sure you pay off the entire balance before any promotional APR expires. Any unpaid balance will be charged interest at the card’s regular APR. Mounting interest charges can quickly add to the debt you’re trying to eliminate.
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