- 0% intro APR for 12 months on purchases
- 0% intro APR for 21 months on balance transfers
- $0 annual fee
- 5% (min $5) balance transfer fee
- Foreign transaction fee
- High regular APR
Citi Diamond Preferred Review Summary
The Citi® Diamond Preferred® Card is one of 2021’s top-tier 0% APR credit card offers, thanks to introductory rates of 0% for 21 months on balance transfers and 0% for 12 months on purchases. The average balance transfer card offers a 0% APR for just 13 months. The Diamond Preferred Card’s intro purchase APR lasts longer than average, too. Plus, Citi Diamond Preferred has a $0 annual fee.
The bad news is Citi Diamond Preferred’s balance transfer fee: 5% (min $5). The card also has a high regular APR and does not reward users for making purchases. In addition, it’s worth pointing out that if you want to enjoy the Diamond Preferred Card’s 0% intro balance transfer APR, you’ll have to do the transfer within four months of opening an account.
Finally, whether you plan to use Citi Diamond Preferred for a big-ticket purchase or a balance transfer, it’s important that you do so with the aid of a credit card calculator. You can’t count on another 0% credit card being available when your interest-free period ends. But you can get a sense of whether you’ll be able to qualify for Citi Diamond Preferred by checking your latest credit score for free on WalletHub.
Below, you can learn more about the most important features and shortcomings to consider when deciding whether or not to apply for the Citi® Diamond Preferred® Card.
Transfer Fee: 5% (min $5)
- 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.
- See More Details & Reviews About Citi® Diamond Preferred® Card
Citi Diamond Preferred Highlights
0% Intro APRs
Diamond Preferred offers an introductory APR of 0% for 21 months on balance transfers completed in first 4 months. It also gives 0% for 12 months on new purchases. So if you already have a bit of debt and foresee more in your immediate future, you could use this card to both consolidate and save.
$0 Annual Fee
Your mission is to save money, not just avoid interest charges. So the fact that this card does not charge an annual fee is quite important. It not only allows you to minimize expenses, but it also makes budgeting easier, as you won’t have to inquire about when your annual fee will be assessed.
Citi Diamond Preferred Lowlights
Balance Transfer Fee
Let’s say that you, like the average householder, have roughly $7,854 in debt. This 5% (min $5) balance transfer fee would equate to about $393, which is enough to warrant exploring the viability of offers that have shorter 0% introductory periods yet lower fixed costs.
Potential for an Above-Average Regular APR
The average credit card for people with excellent credit has a regular APR of 13.07%, while credit cards for people with good credit charge an average of 19.49%. The Citi® Diamond Preferred® charges 13.74% - 23.74% (V). Considering that the lower end of that range is usually reserved for people with excellent credit, you’re probably going to receive an above-average regular APR.
3% Foreign Transaction Fee
If you were planning to open this card to pay for a lavish international getaway, or even to make a significant purchase from a foreign-based merchant, don’t. There are far too many no foreign transaction fee credit cards available to warrant forking over an extra 3% of whatever you charge, in most cases.
Other Things To Consider About the Citi Diamond Preferred
24/7 Concierge Service
One of this card’s preferred elements is that it provides access to a “personalized concierge service” that is available around the clock, according to Citi’s website. Citi doesn’t offer much information about this feature online, other than it can help cardholders make travel arrangements, buy tickets to events and set up restaurant reservations, but having extra resources can’t hurt – especially when they’re free.
Citi credit and debit cardholders have the chance to attend exclusive concerts and events as well as take advantage of special ticket opportunities for events open to the general public through Citi Entertainment. This obviously isn’t a perk unique to Diamond Preferred itself, and you shouldn’t use the availability of such offers as an excuse to overspend. But it could make being a cardholder more enjoyable.
No Card Rewards
If your main objective is to save money on debt, whether current or upcoming, this card’s lack of rewards shouldn’t be too much of a concern. Sure, rewards could help reduce the cost of your spending to a certain extent, but it won’t be anywhere near the amount you could expect to lose due to a higher interest rate. So when comparing your options, focus on fees and interest while considering rewards to be icing on the cake.
Citi Easy Deals
Citi credit card users whose accounts are in good standing can enroll in Citi Easy Deals, which offers savings on items purchased from citieasydeals.com. Easy Deals is a tiered system, which means discounts are based on the amount of money the cardholder spends in a year. There is no spending requirement for the base tier of Citi Easy Deals, however. It provides local offers, such as discounts at nearby restaurants.
Citi Diamond Preferred vs. the Competition
Citi® Diamond Preferred® Card
BankAmericard® credit card
U.S. Bank Visa® Platinum Card
|Purchase Intro APR||0% for 12 months||0% for 18 billing cycles||0% for 20 billing cycles|
|Transfer Intro APR||0% for 21 months|
Transfer Fee: 5% (min $5)
|0% for 18 billing cycles for any balance transfers made in the first 60 days|
Transfer Fee: 3% (min $10)
|0% for 20 billing cycles|
Transfer Fee: 3% (min $5)
|Regular APR||13.74% - 23.74% (V)||12.99% - 22.99% Variable||14.49% - 24.49%* (V)|
|Details, Rates & Fees||Learn More||Learn More||Learn More|
Rates & Fees