The Citi Diamond Preferred Card is a credit card designed for those seeking a straightforward way to manage their finances.
It stands out for its long introductory 0% APR period on balance transfers and purchases, making it ideal for individuals who want to consolidate debt or finance large purchases without paying interest for an extended period.
While the card doesn’t focus on rewards, its low cost and flexibility make it an attractive option for those prioritizing financial management over earning cash back or travel points.
This guide explores the benefits, drawbacks, requirements, fees, and frequently asked questions about the Citi Diamond Preferred Card.
Card Overview
The Citi Diamond Preferred Card is tailored for individuals with good to excellent credit who are looking to save money on interest.
Its standout feature is the 0% APR introductory period: up to 21 months for balance transfers and 12 months for purchases.
After the introductory period, a variable APR applies, making it a smart choice for those planning to pay down balances within the given timeframe.
Additionally, the card has no annual fee, ensuring that users save even more.
Though the card doesn’t offer a rewards program, it provides essential tools for those focused on managing their credit responsibly.
It also includes features like Citi Entertainment, enabling access to presale tickets and exclusive events.
Reasons to Choose the Citi Diamond Preferred Card
Here are some reasons why the Citi Diamond Preferred Card might be a good fit for you:
1. Lengthy 0% APR Introductory Period
- The card offers one of the longest 0% APR periods in the market:
- 21 months for balance transfers.
- 12 months for purchases.
- This extended timeframe allows cardholders to consolidate debt or finance purchases without worrying about interest.
2. No Annual Fee
- There’s no annual fee, making it a cost-effective choice for budget-conscious consumers. You can focus on paying off your balance without additional costs.
3. Balance Transfer Option
- With a 21-month introductory APR period for balance transfers, this card is perfect for consolidating high-interest credit card debt into one manageable payment plan. Just ensure you transfer balances within the first 4 months to qualify for the promotional APR.
4. Citi Entertainment Access
- Cardholders gain access to Citi Entertainment, which includes presale tickets to concerts, sporting events, and exclusive experiences.
5. Flexibility with Payments
- Citi offers tools like automatic payments and customizable due dates, helping cardholders stay on track with their financial goals.
6. Security Features
- The card includes advanced fraud protection, identity theft solutions, and $0 liability on unauthorized charges, ensuring peace of mind for users.
7. Digital Wallet Integration
- The card is compatible with digital wallets like Apple Pay, Google Pay, and Samsung Pay, making it easier to make secure payments.

Drawbacks of the Citi Diamond Preferred Card
While the Citi Diamond Preferred Card has plenty of strengths, there are a few potential downsides to consider:
1. Lack of Rewards Program
- Unlike many other credit cards, this card does not offer a rewards program. If earning points, cash back, or travel rewards is important to you, another card may be a better choice.
2. Balance Transfer Fee
- While the card offers a 0% introductory APR for balance transfers, there is a balance transfer fee: either $5 or 5% of the transferred amount, whichever is greater.
3. No Introductory Bonus
- Many credit cards offer sign-up bonuses, such as cash back or points after spending a certain amount. The Citi Diamond Preferred Card does not provide a welcome offer.
4. Limited Value After the Introductory Period
- Once the 0% APR period ends, the card’s value decreases since it doesn’t offer rewards or ongoing perks.
5. Foreign Transaction Fees
- The card charges a foreign transaction fee of 3%, making it less ideal for international travel or purchases with foreign merchants.
What Are the Requirements to Apply?
To qualify for the Citi Diamond Preferred Card, applicants must meet the following criteria:
1. Credit Score
- A good to excellent credit score (typically 700 or higher) is recommended for approval.
2. Income Verification
- Applicants must demonstrate sufficient income to handle the credit line and any outstanding balances.
3. Age Requirement
- You must be at least 18 years old (or 21 in Puerto Rico) to apply.
4. U.S. Residency
- You must reside in the United States and provide a valid Social Security number or Taxpayer Identification Number (TIN).
Fees and Costs
The Citi Diamond Preferred Card is known for its low costs, but here are the details to be aware of:
- Annual Fee: $0
- Introductory APR:
- 0% for 21 months on balance transfers (applies to transfers made within the first 4 months).
- 0% for 12 months on purchases.
- Variable APR After Introductory Period: Based on creditworthiness.
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars.
- Late Payment Fee: Up to $40.
Frequently Asked Questions about the Citi Diamond Preferred Card

1. What makes the Citi Diamond Preferred Card unique?
The Citi Diamond Preferred Card stands out for its exceptionally long 0% APR introductory period on both balance transfers (21 months) and purchases (12 months). This makes it an excellent option for those consolidating debt or planning large purchases.
2. Does the card offer any rewards?
No, the card does not offer rewards such as cash back, points, or miles. It’s designed for individuals focused on saving on interest rather than earning rewards.
3. Can I use the card for international purchases?
Yes, but keep in mind that the card charges a foreign transaction fee of 3% on each international purchase. If you frequently travel abroad, you may want to consider a card without foreign transaction fees.
4. How does the balance transfer work?
To take advantage of the 0% APR on balance transfers, you must transfer balances within the first 4 months of opening the account. A fee of $5 or 5% of the transfer amount (whichever is greater) will apply.
5. What credit score is required for approval?
A good to excellent credit score (700 or higher) is typically required to qualify for the card. Applicants with a strong credit history and income are more likely to be approved.
Conclusion
The Citi Diamond Preferred Card is an excellent choice for individuals focused on saving money on interest, particularly for balance transfers and large purchases.
Its 21-month 0% APR on balance transfers and 12-month 0% APR on purchases set it apart as one of the best cards for managing existing debt or financing upcoming expenses.
Additionally, the no annual fee ensures that cardholders can focus on paying down their balances without worrying about extra costs.
However, the lack of a rewards program, foreign transaction fees, and limited value after the introductory period may not appeal to everyone.
If you’re seeking a card to earn rewards or one suited for international travel, you may want to explore other options.
Overall, the Citi Diamond Preferred Card is a valuable tool for anyone looking to consolidate debt or take advantage of a lengthy interest-free period.
For those prioritizing financial flexibility and affordability, this card could be the perfect fit.