If you’re on the hunt for a balance transfer credit card with standout perks, the Citi Diamond Preferred® could be just what you need. Backed by one of the most trusted names in banking, this card is a smart pick for anyone looking to combine low fees with solid planning tools. It’s especially helpful if you need extra time to get your finances in order or want a credit card that offers a long stretch without interest charges. Let’s break down what this card offers and see if it’s a good fit for you.
About the Citi Diamond Preferred®
The highlight of the Citi Diamond Preferred® is definitely the fees—or the lack of them. This card charges no annual fee and offers a 0% introductory APR that can last up to 21 months, giving you a generous window to manage expenses or pay off existing debt without interest.
Unlike some of Citibank’s other cards, it doesn’t focus on cashback or reward points. Instead, this card shines when it comes to low interest rates for balance transfers and purchases, making it an excellent option for people trying to reduce what they owe or looking for a reliable second credit card with strong financial tools.
Fees and APR
Let’s talk numbers. When you first open your account, you’ll get 0% APR on purchases for 12 months, meaning you can make purchases and not pay any interest for a full year. Even better, if you transfer a balance from another card within the first 4 months of opening your account, you’ll get 0% APR on that balance for 21 months.
After the intro period ends, the regular APR ranges from 17.24% to 27.99%, depending on your creditworthiness. So it’s important to stay on top of when your intro rate expires and to know your variable APR going forward.
The balance transfer fee is either 5% of the amount transferred or $5, whichever is greater—pretty standard for the market. Cash advances come with a 29.49% APR, plus a fee of $10 or 5% of the amount advanced. And if you miss a payment, you could face a penalty APR of up to ~29.99%.
Also worth noting: if you use this card for international purchases, there’s a 3% foreign transaction fee on the converted dollar amount. So while it’s a solid choice for domestic use, it’s not the best card for international travel.
Main Benefits
The Citi Diamond Preferred® card really stands out when it comes to giving you time—time to pay off debt, make big purchases, and catch your breath financially. But that’s not all it offers. Here are some additional features you’ll get:
- Free access to your FICO® Score, updated monthly, so you can keep track of your credit health.
- Citi Entertainment®, which gives you special access to tickets for concerts, sports events, and exclusive experiences.
- Customizable payment due dates, so you can line up your credit card bill with your paycheck or other financial routines.
- Automatic alerts for payments, spending limits, suspicious activity, and more.
- Identity theft protection, including Mastercard ID Theft Protection™ and Citi’s $0 liability policy for unauthorized charges.
- Citi Flex Loan®, which lets you borrow against your credit line with a fixed interest rate and no additional credit check.
While the card doesn’t offer direct cashback or travel points, Citibank does partner with certain retailers to offer seasonal discounts, so it’s worth checking your account offers now and then to save on purchases.
Who Is the Citi Diamond Preferred® For?
This card is tailor-made for people who want to consolidate debt or pay off a balance over time without paying interest. It’s also fairly accessible in terms of credit requirements, with approvals often starting at a credit score around 500—though individual approval still depends on your overall financial profile.
Just keep in mind that to make the most of the introductory 0% APR, you should aim to pay off your balance before the promotional period ends. Otherwise, the standard variable rate will kick in, and you could end up paying more than you planned.
It’s not the ideal card for frequent travelers or those looking for perks on international purchases, but as a financial planning tool, it’s one of the most competitive offerings on the market. It also pairs well with other Citi cards if you’re building a broader credit strategy.
Is the Citi Diamond Preferred® Worth It?
If your main goal is to pay down debt or finance purchases without racking up interest, the Citi Diamond Preferred® is a compelling choice. With a long 0% APR period, no annual fee, and a suite of helpful features, it can be a powerful tool in managing your money—as long as you stay organized and pay off your balance on time.
It may not offer flashy rewards or travel benefits, but it delivers on what it promises: financial breathing room. If that’s what you need right now, this card could be a perfect match.
All information in this and other BOISLA articles is subject to change over time. Please check for updates directly with the institutions and companies mentioned. Approval is subject to the institution’s review.
REFERENCES:
Read more about credit cards in https://boisla.com/category/credit-cards/
