The Citi Diamond Preferred Card is a credit card offered by Citibank, designed especially for individuals looking to consolidate debt or finance large purchases with attractive interest rate conditions.
This card stands out for offering one of the longest introductory APR periods on the market, making it an effective financial management tool.
About the Card
The Citi Diamond Preferred Card is known for its exceptionally long 0% introductory APR period on both balance transfers and purchases, making it an attractive option for those looking to save on interest.
- 0% introductory APR for 21 months on balance transfers from the date of the first transfer.
- 0% introductory APR for 12 months on purchases from the account opening date.
- After the introductory period, a variable APR between 17.24% and 27.99% applies, depending on the applicant’s creditworthiness.
- Balance transfer fee: 5% of each transfer amount (minimum $5).
To take advantage of the 0% APR on balance transfers, the transfers must be completed within four months of account opening.
However, users must ensure they pay off the transferred balance before the introductory period ends, or they will be subject to the standard variable APR.
Another important feature is that this card does not offer a rewards program, which means it may not be the best option for individuals who want to earn points, miles, or cashback on their purchases.
Instead, it is designed purely for those seeking low-interest financing options.
About the Financial Institution
Citibank is a globally recognized financial institution that offers a wide range of banking products and services, including credit cards, savings accounts, loans, and investment options.
With a strong presence in the United States and worldwide, Citibank is known for its financial stability, customer-focused approach, and innovative banking solutions.
The institution is part of Citigroup, one of the largest financial services organizations in the world, providing services to millions of customers.
Who Is This Card For?
The Citi Diamond Preferred Card is best suited for individuals with good to excellent credit (typically a credit score of 700 or higher).
This card is a great option for:
- People who want to consolidate debt by transferring balances from high-interest credit cards.
- Consumers planning large purchases who need time to pay them off without accruing interest.
- Individuals who prioritize a long 0% APR period over rewards programs.
Since the Citi Diamond Preferred Card does not offer cash back, travel rewards, or points, it is not ideal for those who frequently use their credit card for everyday purchases and want to be rewarded for spending.
Instead, its main value comes from helping users manage their finances by reducing interest payments.
Card Advantages
- No Annual Fee – One of the biggest advantages is that this card does not charge an annual fee, making it a cost-effective option for those looking to save money.
- Access to Citi Entertainment® – Cardholders enjoy exclusive access to presale tickets and VIP experiencesfor concerts, sporting events, and special dining experiences.
- Free Access to FICO® Score – Citi provides free FICO® Score monitoring, helping users keep track of their credit health.
- Identity Theft Protection – Users can enroll in Mastercard’s Identity Theft Protection, receiving alerts in case of suspicious activity.
- Automatic Alerts & Account Management Tools – Citi offers customizable account alerts to help users track spending, payment due dates, and credit limits.
- Choose Your Payment Due Date – Cardholders can select their preferred payment due date, adding flexibility to financial management.
Additional Benefits
- EMV Chip Technology – The Citi Diamond Preferred Card comes with chip-enabled security, providing safer transactions and contactless payment capabilities.
- Digital Wallet Compatibility – The card can be used with Apple Pay, Google Pay, and Samsung Pay, allowing for quick and secure payments via smartphone.
- 24/7 Customer Service – Citi provides round-the-clock customer support, ensuring cardholders can access assistance at any time.
Is This Card Right for You?
The Citi Diamond Preferred Card is an excellent choice for consumers who want to save on interest while paying down existing debt or financing major purchases.
If your primary goal is to avoid interest charges and you don’t mind missing out on rewards, this card is a strong option.
However, if you frequently use credit cards for everyday spending and want to earn rewards, a cashback or travel rewards card might be a better fit.
In summary, this card is best for individuals who are disciplined about paying off balances before interest kicks in.
With responsible use, the Citi Diamond Preferred Card can be an effective tool for debt management and financial planning.
Fees and charges
● Introductory APR: 0% for 12 billing cycles;
● Standard APR: 17.24% - 27.99%;
● Balance Transfer Fee: either $5 or 5% of the amount of each credit card balance transfer;
● Cash Advance: either $10 or 5% of the amount of each cash advance.
Expert review
The Citi Diamond Preferred Card is ideal for those looking for an extended 0% APR period on balance transfers (21 months) and purchases (12 months), making it excellent for debt consolidation.
It has no annual fee, offers access to Citi Entertainment® and free FICO® Score monitoring.
However, it does not have a rewards program, which may be a negative point for users looking for cashback or miles.
Its post-introductory APR ranges from 17.24% to 27.99%, making it essential to pay off the balance before the promotional period expires.
You will remain on this site
+Positive points
- Extended 0% Introductory APR: 21 months for balance transfers and 12 months for purchases, ideal for debt consolidation.
- No Annual Fee: A great benefit for those looking to save money in the long run.
- Access to Citi Entertainment: Exclusive ticket presales for concerts, sports events, and dining experiences.
- Free FICO Score Monitoring: Helps users track and improve their credit score.
- Flexible Payment Options: Cardholders can choose their billing due date.
- Negative points
- No Rewards Program: Does not offer cashback, points, or miles, which may be a drawback for some users.
- Balance Transfer Fee: Although it offers 0% APR, there is a 5% fee on each transfer (minimum $5).
- High Post-Introductory APR: After the promotional period, the interest rate ranges from 17.24% to 27.99%, which can be costly if the balance is not paid off in time.
