Citi Diamond Preferred credit card review read full article at

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The Citi® Diamond Most well-liked® Credit score Card is designed to assist people who find themselves battling debt

New card holders get an introductory APR on stability transfers for the primary 21 months

One large drawback is that the cardboard does not have a rewards program or any journey advantages

Our fast take: The Citi® Diamond Preferred® Credit Card will help you pay down your debt, with an introductory balance transfer supply that lasts for a formidable 21 months. Nevertheless, the cardboard doesn’t earn any rewards, that means you received’t get any money again or journey factors on your purchases. So as soon as your intro interval expires, this isn’t a card to maintain in your pockets for the long run.


  • 0% introductory APR for 21 months on stability transfers made within the first 4 months after you open the cardboard (17.24% to 27.99% variable APR afterward).
  • 0% introductory APR on all purchases for the primary 12 months (17.24% to 27.99% variable APR afterward).
  • No annual payment.


  • No rewards.
  • Restricted insurance coverage coverages and buy protections.

Present sign-up bonus: Restricted time supply — Earn a $150 assertion credit score after you spend $500 in your card throughout the first three months of account opening.

Greatest for: Individuals seeking to switch current high-interest debt from one other bank card, or finance a big buy with no curiosity for an prolonged time period.

The Citi Diamond Preferred is designed for a selected kind of particular person — somebody who’s battling their bank card payments or who must finance some upcoming purchases. And by the way in which, if that describes you, it’s nothing to be embarrassed about. Many individuals are coping with debt, so don’t really feel alone if you happen to want a hand getting out of a gap.

The cardboard has one of many longest introductory intervals for stability transfers amongst bank cards in the marketplace immediately, which could be a big lifeline if you happen to want a while to get your monetary home so as. You may park your debt or upcoming bills on the Citi Diamond Preferred and use the prolonged time to start out paying off what you owe.

With that stated, if you happen to’re seeking to earn rewards for the stuff you purchase, this isn’t the cardboard for you. There’s no rewards program tied to the cardboard, which implies you received’t earn money again or journey rewards on any buy you make — even after the introductory APR has expired.

Click here for the bonus offer on the Citi Diamond Preferred card.

With regards to introductory presents, the Citi Diamond Preferred blows many different playing cards out of the water. First off, new card holders get an introductory 0% APR (Annual Share Fee) for 21 months on stability transfers made within the first 4 months after you open the cardboard, although as soon as these 21 months are over, you’ll pay a variable APR of 17.24% to 27.99% relying in your creditworthiness.

This implies in case you have debt on one other bank card and also you’re presently paying a number of curiosity on it, you may switch that debt over to the Citi Diamond Most well-liked and never pay any curiosity for the primary 21 months. But it surely’s essential to determine a plan throughout that point, since you don’t need to get caught paying the a lot greater rate of interest as soon as the introductory interval ends.

Relying on how a lot you owe, this might really prevent lots of or probably even 1000’s of {dollars}. For instance, let’s say you’ve got a $5,000 stability in your present bank card, which carries a 16% APR. Over the course of the subsequent 21 months, if you happen to solely make the minimal fee, you’ll be paying over $1,000 in curiosity alone on that debt.

However if you happen to can switch that $5,000 stability to a card just like the Citi Diamond Preferred, not solely will you not must pay that additional curiosity, you may as a substitute use the cash to pay down what you owe, making it simpler to turn out to be debt-free.

If you're trapped under debt, using the balance transfer feature of the Citi Diamond Preferred could save you a ton of money.

It’s essential to do not forget that to be eligible for the introductory APR, you will need to provoke the stability switch out of your outdated bank card to the Citi Diamond Preferred throughout the first 4 months of being a card holder. There’s additionally a 5% payment (with a $5 minimal) to switch your stability. Whereas this can price you some cash initially — $250 on our $5,000 instance — it’ll finally prevent rather more in the long term.

Amazingly, there’s additionally an introductory APR supply on purchases made with the Citi Diamond Preferred, however it solely lasts 12 months as a substitute of 21 months. Nonetheless, this will turn out to be useful if you happen to’re seeking to make a number of massive purchases that you would be able to’t afford to pay for all of sudden. As an alternative, you may pay for them over time interest-free.

You need to by no means make pointless purchases in your bank card that you would be able to’t afford. Nevertheless, in troublesome financial occasions, a suggestion like this may be helpful as a final resort in case you have bills that you just can’t keep away from, resembling a big restore invoice. It can be helpful if you happen to want it to make a big once-in-a-lifetime buy work, resembling shopping for an engagement ring.

However as with the stability switch choice, you’ll need to be certain to repay every little thing you owe in your purchases throughout the first 12 months after opening the account, as as soon as the introductory interval ends, the APR ranges between 17.24% and 27.99% relying in your creditworthiness.

The Citi Diamond Preferred additionally comes with a free FICO credit score on-line and permits you to select your fee due date, which is extraordinarily useful for many who pay their bank card payments round their paycheck schedule and want most flexibility.

See if you qualify for the Citi Diamond Preferred card.

We’re not going to sugarcoat it: The Citi Diamond Preferred doesn’t have a rewards program or lots of the advantages that different bank cards include, which is a large drawback. With many different no-annual-fee cards, you’ll earn money again or loyalty factors on each buy you make, which usually ranges between 1% and a pair of% of your purchases. That may put some “free” money again into your pocket.

However with that stated, if you happen to usually don’t pay your total bank card invoice in full each month, you’re already paying extra in curiosity than you’ll earn in rewards with any bank card. So incomes a couple of additional travel rewards or money again isn’t price it if it can save you much more cash by eliminating the curiosity you’re paying for these purchases.

Additionally, for a restricted time, new Citi Diamond card holders can earn a $150 assertion credit score after spending $500 on purchases within the first three months after opening the account. However whereas something you purchase may even qualify for the cardboard’s introductory APR on purchases for the primary 12 months, you need to keep away from including any extra to your already-existing debt. So solely purchase what you completely want and might afford to repay instantly.

The Citi Diamond Preferred additionally received’t offer you insurance coverage protection or safety on the subject of journey or purchasing purchases. Whereas we wouldn’t anticipate any fancy perks on a no-annual-fee card, even the very fundamental protections are largely lacking right here.

And though it’s widespread to be charged a payment for transferring an current stability from one card to a different, the 5% payment on the Citi Diamond Preferred is comparatively excessive. Whilst you’re getting additional time to pay down your debt with out curiosity, it’s nonetheless one thing to remember when contemplating whether or not a stability switch is price it, particularly if you have already got a low APR in your present card or assume you may repay your stability in one other month or two.

CNN Underscored has chosen the Citi® Double Cash Card as our present “benchmark” credit card. That doesn’t imply it’s one of the best bank card in the marketplace; reasonably, we use it as a fundamental normal to check different bank cards and see the place they rating higher, and the place they’re worse.

Right here’s how the Citi Diamond Preferred scores in opposition to our benchmark. The options of every card within the under chart are coloured in inexperienced, purple or white. Inexperienced signifies a card characteristic that’s higher than our benchmark, purple signifies the characteristic is worse than our benchmark and white signifies the characteristic is both equal or can’t be straight in comparison with our benchmark.

Citi Double Money Card Citi Diamond Most well-liked
Card kind Mastercard Mastercard
Signal-up bonus None Restricted time supply: Earn a $150 assertion credit score after spending $500 on purchases within the first three months of account opening.
Incomes fee 2% on all purchases (1% whenever you purchase, 1% whenever you pay it off) None
Redemption worth 1 cent (money again) N/A
Ease of fundamental redemptions Simple N/A
Superior redemption choices Can switch ThankYou factors to 16 airline companions if you happen to even have the Citi Premier® Card None
High quality of superior redemptions Good N/A
Annual payment $0 $0
International transaction payment 3% 3%
Journey perks None None
Buy protections None None
Journey protections None None
Different perks None None
Introductory APR on purchases None 0%
Size of Introductory APR on purchases N/A 12 months
Introductory APR on stability transfers 0% 0%
Size of Introductory APR on stability transfers 18 months 21 months
Introductory stability switch payment 3% or $5, whichever is larger 5% or $5, whichever is larger
APR after intro interval ends/normal APR 18.24%-28.24% variable 17.24%-27.99% variable

When reviewing different bank cards, we use this format and these standards to check them with our benchmark. You may learn our credit card methodology for extra particulars on what we have in mind on the subject of perks, protections and redemption worth.

Apply now for the Citi Diamond Preferred card.

Though the Citi Diamond Preferred presents one of many longest introductory APR presents on each purchases and stability transfers, there are a couple of different playing cards with advantages that come shut.

The Wells Fargo Reflect℠ Card presents a barely shorter 18-month introductory APR on purchases and stability transfers, and also you’ll have an analogous 120 days to switch your balances and get a 0% APR on them (which climbs to a variable APR of 17.24% to 29.24% afterward). You’ll even be charged a decrease 3% payment ($5 minimal). However you may as well get an extension of the 0% APR for as much as 3 months with on-time minimal funds in the course of the introductory and extension intervals for a complete of 21 months.

Just like the Citi Diamond Most well-liked, the Wells Fargo Reflect℠ Card doesn’t supply any rewards on the purchases you make, however it does have a couple of advantages, together with roadside dispatch. Plus, if you happen to pay your cellular phone invoice with the Wells Fargo Replicate, your telephone can be protected if it’s broken or stolen, as much as $600 with a $25 deductible, for as much as two claims per 12-month interval.

The knowledge for the Wells Fargo Replicate Card has been collected independently by CNN Underscored. The cardboard particulars on this web page haven’t been reviewed or offered by the cardboard issuer.

You can even look to the U.S. Bank Visa® Platinum Card, which comes with a 0% introductory APR supply on each purchases and stability transfers for a full 18 billing cycles after you open the account (a “billing cycle” is roughly a month). As soon as the intro interval ends, the APR jumps to a variable 18.74% to twenty-eight.74%.

Once more, you’re not going to earn any rewards with the U.S. Bank Visa Platinum, and also you’ve solely bought 60 days after you open the cardboard to make any stability transfers and have them qualify for the introductory supply. However the card additionally comes with cellular phone insurance coverage, so if you happen to pay your cellular phone invoice with the cardboard, you’ll be lined for harm or theft to your telephone for as much as $600 with a $25 deductible, for as much as two claims per 12-month interval.

If your main goal is to consolidate your existing debt, the Citi Diamond Preferred is an excellent choice.

This query really depends upon what you’re searching for in a bank card. In order for you a card that earns rewards in your on a regular basis purchases or presents perks whenever you’re touring or safety in your purchases, then this isn’t the cardboard for you.

But when your predominant objective is to consolidate your current debt with out paying curiosity on any of it for as much as 21 months, then the Citi Diamond Preferred is a wonderful alternative, and an effective way to start out repairing the harm the pandemic could have wreaked in your funds.

If that describes you, our suggestion is to use for this card now and use it throughout its introductory supply interval, then store it away in your sock drawer when you’re achieved with it. At that time, you’ll hopefully be in a greater place financially to get a bank card that gives the possibility to earn additional rewards, or one that gives enjoyable journey perks.

Learn more about the Citi Diamond Preferred Card.

Discover out which playing cards CNN Underscored selected as its best balance transfer credit cards presently accessible.

Get all the latest personal finance deals, news and advice at CNN Underscored Money.

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