Review
Citi® Diamond Preferred® Card Review: Top choice for balance transfers
Looking to ditch high-interest debt? The Citi® Diamond Preferred® Card offers an impressive 0% intro APR for 21 months on balance transfers, making it a top pick for debt consolidation.
| Annual Fee | $0.00 |
| Sign-up Bonus | None |
| Rewards Rate | None |
| Intro APR | 0% Intro APR for 21 months on balance transfers from date of account opening; after that, the variable APR will be 16.49% - 27.24%, based on your creditworthiness. 0% Intro APR for 12 months on purchases from date of account opening; after that, the variable APR will be 16.49% - 27.24%, based on your creditworthiness. |
| Regular APR | After each promotional period ends, a variable APR of 16.49% - 27.24%, based on your creditworthiness, applies to unpaid promotional balances, new purchases and new balance transfers. For Citi Flex Plans subject to an APR, the variable APR is 16.49% - 27.24%, based on creditworthiness. The variable cash advance APR – 29.74%. Variable Penalty APR up to 29.99% and applies if you pay late or your payment is returned. |
| Other Fees | Fee for foreign purchases – 3% of the U.S. dollar amount of each purchase. Cash advance fee – either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer Fee — intro fee of 3% of each transfer ($5 minimum) completed within the first 4 months of account opening. After that, 5% of each transfer ($5 minimum). Minimum interest charge – $0.50. For Citi Flex Pay Plans subject to a Plan Fee, a monthly fee of up to 1.72% will apply, based on the Citi Flex Plan duration, the APR that would otherwise apply to the Transaction, and other factors. |
Overview
Pros & Cons
What's great
- No annual fee
- Intro APR period
Things to consider
- High regular APR
- No sign-up bonus
- No rewards
- Foreign transaction fees apply
- High balance transfer fee
Benefits
Drawbacks
Decision Guidance
Summary
The CITI® DIAMOND PREFERRED® CARD's overall rating is primarily determined by its balance transfer capabilities. The lengthy 0% introductory APR period is very valuable for those looking to consolidate and pay down debt. However, its high regular APR...