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Citi Diamond Preferred Review: One of the Best 0% Intro APR Cards Around

Review Updated
Elizabeth Aldrich
Author: Elizabeth Aldrich
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Elizabeth Aldrich
Elizabeth is a personal finance writer specializing in credit cards, debt repayment, and small business. Her work has appeared on The Motley Fool, MSN Money, Yahoo! Finance, and Business Insider. She’s an avid credit card points collector and perpetual traveler currently living in Costa Rica.

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Robin Hartill, CFP
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Robin Hartill, CFP®, is Motley Fool Money’s Head of Product Ratings and has worked for The Motley Fool since 2020. Her work has appeared in various national publications, including NerdWallet and CNET Money. She previously wrote The Penny Hoarder’s syndicated “Dear Penny” personal finance advice column. She is based in St. Petersburg, Florida.

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The Citi® Diamond Preferred® Card sets itself apart with 21 months on Balance Transfers of 0% intro APR for balance transfers. That gives you ample time to pay off credit card debt you transfer over. However, this card doesn't have many other features, with no rewards or welcome bonus. Check out our in-depth Citi® Diamond Preferred® Card review to learn more and see whether you should apply.

Ratings Methodology

Citi® Diamond Preferred® Card

Apply Now for Citi® Diamond Preferred® Card

On Citi's Secure Website.

Rates & Fees External Link Icon

Citi® Diamond Preferred® Card
Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Rating image, 4.25 out of 5 stars.
4.25/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Apply Now for Citi® Diamond Preferred® Card

On Citi's Secure Website.

Rates & Fees External Link Icon

Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good/Excellent (670-850)

Intro APR

Purchases: 0%, 12 months on Purchases

Balance Transfers: 0%, 21 months on Balance Transfers

Regular APR

17.24% - 27.99% (Variable)

Rewards

N/A

Annual Fee Circle with letter I in it. N/A

$0

Welcome Offer

N/A

  • This card sets itself apart with an incredible 21-month 0% intro APR offer on qualifying balance transfers and no annual fee, making it a top pick for anyone looking for ample time to pay off credit card debt. Plus, you can choose from any available payment date. That way, you can set up automatic payments that are aligned with your paycheck.

    • Great intro APR
    • No annual fee
    • Free credit score monitoring
    • No rewards
    • Foreign transaction fee
    • High balance transfer fee
    • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 17.24% - 27.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
    • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
    • Get free access to your FICO® Score online.
    • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
    • No Annual Fee - our low intro rates and all the benefits don’t come with a yearly charge.

Credit card comparison

We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.

Offer Our Rating Welcome Offer Rewards Program APR Learn More
Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
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Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.

Intro:

Purchases: 0%, 15 months

Balance Transfers: 0%, 15 months

Regular: 18.49% - 27.49% Variable APR *Rates as of December 12, 2024.

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers

Purchases: 0% intro APR, 12 months from account opening

Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers

Regular: 19.24%, 24.24%, or 29.24% Variable APR

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases 1.5 points per dollar Circle with letter I in it. Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open.

Intro: Circle with letter I in it. 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.49% - 28.49% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.

Purchases: 0% Intro APR for 15 billing cycles for purchases

Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days

Regular: 18.49% - 28.49% (Variable)

Apply Now for Bank of America® Travel Rewards credit card

On Bank of America's Secure Website.

Citi Diamond Preferred Review

This credit card is a good fit for: People wanting to pay off debt faster using balance transfer strategies.

Top perks

The Citi® Diamond Preferred® Card has a couple of excellent benefits, and one of the best 0% intro APR offers.

0% intro APR for 21 months on balance transfers

This Citi credit card has a 0%, 21 months on Balance Transfers introductory balance transfer APR. Balance transfers must be completed within four months of opening the card to qualify for the introductory rate.

If you're trying to get out of credit card debt, the Citi® Diamond Preferred® Card is a great choice. You can transfer balances to it and pay them down interest-free for nearly two years. There aren't many balance transfer credit cards that can match that.

Learn more: How Does a Balance Transfer Work?

0% intro APR for 12 months on purchases

The Citi® Diamond Preferred® Card also offers a 0%, 12 months on Purchases introductory purchase APR. If you plan to buy anything with it, you'll have a year to pay off purchases with no interest charges. Just keep in mind that if you're getting this card to refinance debt, it's best to keep credit card spending to a minimum until you've paid off your balance transfers.

No annual fee

The best 0% intro APR credit cards keep fees to a minimum. The Citi® Diamond Preferred® Card doesn't charge an annual fee.

Free FICO® Score monitoring

Many Citi credit cards, including the Citi® Diamond Preferred® Card, provide you with free access to your FICO® Score. This makes it easy to monitor your credit.

It's worth noting that there are multiple credit scoring models. Citi uses data from your Equifax credit report to provide a score called the FICO® Bankcard Score 8, which has scores ranging from 250 to 900. Many credit scoring systems use a scale of 300 to 850, so Citi's tool may provide a slightly different range than you're used to.

Identity theft monitoring

The card also comes with Mastercard's free ID Theft Protection program. If you enroll, you'll receive alerts if suspicious activity is detected.

Flexible payment date

Citi® Diamond Preferred® Card holders get to choose their payment dates. If your major bills, like your rent or mortgage, are due at the beginning of the month, choosing a payment date toward the middle or end of the month could make budgeting easier.

What could be improved

There are a few flaws you should know about with this Citi card.

No rewards

Purchases with the Citi® Diamond Preferred® Card don't earn any rewards such as cash back or credit card points. The card also doesn't have a sign-up bonus. To be fair, many balance transfer cards don't offer rewards. The main purpose of these cards is paying off credit card debt anyway.

A lack of rewards is still a disadvantage, because there are some rewards credit cards with balance transfer offers. These cards can offer more value after you're done paying off credit card debt. Before you apply for this Citi card, it's a good idea to look at other credit card reviews so you know what other cards offer.

Foreign transaction fee

This credit card charges a foreign transaction fee of 3% of the purchase amount in U.S. dollars. If you need a credit card you can take along on international trips, you're better off with one of the many travel credit cards that won't charge you extra.

Balance transfer fee

The Citi® Diamond Preferred® Card balance transfer fee is Balance transfer fee applies with this offer; 5% of each balance transfer; $5 minimum.. A balance transfer fee is pretty standard, but some of the best balance transfer cards only charge 3%.

While that may not seem like much of a difference, it can add up when transferring a large amount of credit card debt. For example, if you transfer $5,000, a lower fee could save you $100. A 5% fee would cost $250, but a 3% fee would cost just $150.

Late payment fee

Cardholders may incur a late payment fee; see the card's rates and fees for full details. This is par for the course with most credit cards, but not for every Citi credit card -- the Citi Simplicity® Card has no late payment fee and no penalty APR.

Suggested credit score

A FICO® Score of at least 670 is recommended when you apply for the Citi® Diamond Preferred® Card. Citi designed this card for applicants with a credit score in the good to excellent credit range.

Apart from your credit score, Citi looks at other factors to make its decision, including your income. You should also be aware of Citi's credit card application rules, which can impact your eligibility.

Find the best credit card for your needs
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Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.

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The Citi® Diamond Preferred® Card is right for you if:

You have credit card debt, and you need as much time as possible to pay it off.

The Citi® Diamond Preferred® Card does one thing very well, and that's balance transfers. There are credit cards with more benefits, but they also have shorter balance transfer offers. If it's going to take you 21 months or longer to pay off your credit card debt, this Citi card will likely save you the most money.

Our credit card methodology

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.

FAQs

  • No, the Citi® Diamond Preferred® Card isn't hard to get if you have the credit to qualify. Applicants should aim for good to excellent credit (a FICO® Score of 670 or more).

  • No, you won't be charged interest if you don't pay off the balance during the intro APR period of 12 months on Purchases. You're only required to make minimum payments during that time. Any remaining balance after the intro 0% APR period ends does start incurring interest charges.

  • The Citi® Diamond Preferred® Card credit limit starts at $500, and card holders report limits of $10,000 and above, but the issuer doesn't offer information about an upper limit. Your credit limit depends on a variety of factors, and you won't know your line of credit until you've applied.

  • The Citi® Diamond Preferred® Card is a Mastercard.

  • Here's how to transfer a balance to the Citi® Diamond Preferred® Card:

    • Log in to your Citi credit card account.
    • Go to "Payments and Transfers."
    • Click "Balance Transfers" on the drop-down menu.
    • Click "View Available Balance Transfer Offers."
    • Select the balance transfer offer and go through the transfer process.

    To transfer a balance, you provide the credit card number of the card with the balance and the amount you want to transfer.

    You can also transfer a balance to your Citi® Diamond Preferred® Card right after your application is approved, or by calling Citi at the number on the back of your card.