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Citi Diamond Preferred Card Review

Updated: January 5, 2021

The basics

Balance transfer details

Intro APR

0%

Intro Period

18 months

Fee

3% or $5 whichever is greater

Annual Fee

$0

Regular APR

14.74% - 24.74% var

Credit Score Required

Excellent

Good for: Lengthy introductory APR period

Our verdict

The Citi Diamond Preferred Card’s 0% introductory offer of 18 months applies to both balance transfers and 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 18 months
  • No annual fee

Purchase APR

0% for 18 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 18 months on balance transfers and new purchases
  • No annual fee
  • Access to Citi Entertainment program
  • No rewards program or sign-up bonus
  • Balance transfer fee of $5 or 3% of the amount transferred, whichever is greater
  • High regular APR (14.74%-24.74%) after introductory period ends

Most suitable for

  • Consumers looking to pay down high-interest credit card debt
  • Consumers looking to make a large purchase

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 1-877-645-3708. Existing Citi customers will have a shortened application.

COVID-19 resources Citi offers COVID-19 assistance , upon request, to credit card users.

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 35 months with total interest and fees amounting to $590.28, based on the average regular APR.