Is Citi Diamond Preferred a good balance transfer card? This question is about the Citi® Diamond Preferred® Card

Yes, 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. Citi 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. What to know about Citi Diamond Preferred balance transfers: Citi Diamond Preferred’s balance transfer fee is 5% (min $5). Transfers must be completed within 4 months of account opening to be eligible for the introductory APR. Any balance that isn’t paid off by the end of the 21 months period will be subject to a regular APR of 17.49% - 28.24% (V). You may be given the option of requesting a Citi Diamond Preferred balance transfer when you apply for the card or you can call the number on the back of your card after receiving it. It will take at least 14 days after your account is open to process any balance transfers. Citibank accepts balance transfers from other credit cards, auto loans, student loans and other credit accounts. But you can’t transfer a balance from another Citibank loan or credit card to Citi Diamond Preferred. It is worth noting that the Citi Diamond Preferred card also offers an introductory purchase APR offer of 0% for 12 months.

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Is Citi Diamond Preferred a good balance transfer card?

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This question is about the Citi® Diamond Preferred® Card

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Bogdan Roberts, Credit Cards Moderator

@bogdan_roberts • 02/17/23 This answer was first published on 04/09/21 and it was last updated on 02/17/23.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, 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. Citi 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.

What to know about Citi Diamond Preferred balance transfers:

Citi Diamond Preferred’s balance transfer fee is 5% (min $5).
Transfers must be completed within 4 months of account opening to be eligible for the introductory APR.
Any balance that isn’t paid off by the end of the 21 months period will be subject to a regular APR of 17.49% - 28.24% (V).
You may be given the option of requesting a Citi Diamond Preferred balance transfer when you apply for the card or you can call the number on the back of your card after receiving it.
It will take at least 14 days after your account is open to process any balance transfers.
Citibank accepts balance transfers from other credit cards, auto loans, student loans and other credit accounts. But you can’t transfer a balance from another Citibank loan or credit card to Citi Diamond Preferred.

It is worth noting that the Citi Diamond Preferred card also offers an introductory purchase APR offer of 0% for 12 months.

Answer Question

How much is the Citi Diamond Preferred balance transfer limit?

Your Citi Diamond Preferred balance transfer limit will depend on the credit limit you’re assigned if approved.

In other words, you cannot transfer a balance if the amount, plus transfer fees, exceeds your available credit.

Your credit limit is largely a function of your credit score, income, and existing debt obligations.... read full answer

You can learn more about balance transfers from this guide.

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Is the Citi Diamond Preferred Card hard to get?

Yes, the Citi® Diamond Preferred® Card is hard to get, as it requires at least good credit (a credit score of 700+) for approval. Citi will also consider your payment history, credit utilization, and annual income to help determine if you qualify.

What to know before applying for the Citi Diamond Preferred:

It’s worth noting that the Citi Diamond Preferred will be harder to get for some people, seeing as the ... read full answer average credit score in the U.S. is close to the minimum required for approval. Be sure to check your free credit score before you apply to assess your odds of being approved.

You can get a better idea of how hard it will be to get a Citi Diamond Preferred through Citibank’s online pre-screen tool. You’ll know in a matter of seconds if you’re pre-selected for Citi Diamond Preferred and other Citi credit cards, based on the information you enter. Plus, this tool doesn’t affect your credit score, as the process is done using a soft inquiry.

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What is the credit limit on a Citi Diamond Preferred card?

The credit limit on a Citi Diamond Preferred card is $500 or more, and some cardholders report starting credit limits of $10,000+. When you’re approved for this card, Citibank will determine your specific credit limit based on factors such as your credit history, annual income, and any debt you owe.

You need at least good credit to get approved for the Citi Diamond Preferred card. For your best chances at a ... read full answer high limit, you’ll want good-to-excellent credit and plenty of disposable income. Even if you don’t receive the limit you want, you can always request a credit limit increase later on. You’ll want to wait at least six months from opening your account before requesting an increase, though.

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