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Citi Diamond Preferred Card Review

The basics

Balance transfer details

Intro APR

0%

Intro Period

21 months

Fee

5% or $5 whichever is greater

Annual Fee

$0

Regular APR

13.74% - 23.74% var

Credit Score Required

Excellent

Good for: Lengthy introductory APR period

Our verdict

The Citi Diamond Preferred Card’s 0% introductory offer of 21 months applies to balance transfers (made within four months) and 12 months on new purchases, making the card a good choice for paying off debt or making a large purchase. But with the lack of a rewards program, the Citi Diamond Preferred Card doesn’t have much benefit beyond its intro offer.

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Beyond the basics

  • 0% introductory APR for 21 months on balance transfers and 12 months for new purchase
  • No annual fee

Purchase APR

0% for 12 months

Cash Advance APR

25.24%

Penalty APR

Up to 29.99%

Sign up Bonus

None

Foreign Transaction Fees

3%

Late Fees

After 1 year, $40

Network

Mastercard

Full review

Lender description Citi provides a wide range of financial services and products for consumers, companies, and government agencies and institutions with a goal of enabling growth and economic progress.

Best used for

  • Paying off debt
  • Large purchases

Pros & cons

  • 0% introductory APR for 21 months on balance transfers and 12 months on new purchases
  • No annual fee
  • Access to Citi Entertainment program
  • No rewards program or sign-up bonus
  • Balance transfer fee of $5 or 5% of the amount transferred, whichever is greater
  • Balance transfers must be completed within four months of account opening

Most suitable for

Card reward details The Citi Diamond Preferred Card has a lengthy 0% introductory APR period on both balance transfers and new purchases, which makes the card ideal for paying down or eliminating debt.

How to apply Apply online or by phone at 1-800-505-1675. Existing Citi customers will have a shortened application.

Available The Citi Diamond Preferred Card is available nationwide.

Balance transfer example If you have a balance of $6,200 with an APR of 19.74% and pay $200 toward the balance each month, you would pay off your debt in 43 months with a total interest of $2,543.17. If you transferred that balance and still paid $200 each month, you’d pay off your debt in 34 months with total interest and fees amounting to $257, based on the average regular APR.

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