The Citi® Diamond Preferred® is a top choice for individuals looking to save on interest, offering one of the longest 0% APR introductory periods on the market. With a strong focus on balance transfers and financing large purchases, this card provides financial flexibility. However, it does not offer a rewards program, making it less appealing for everyday spenders who want cashback or points.
Before deciding if this is the right card for you, it’s crucial to understand its features, benefits, and potential drawbacks. Let’s explore everything you need to know about the Citi® Diamond Preferred®, from its introductory offers to how it compares to other credit cards.
Key features and benefits

One of the standout aspects of the Citi® Diamond Preferred® is its competitive introductory APR offer. This makes it an excellent option for those who want to manage their debt efficiently. Whether you’re looking to consolidate high-interest balances or finance a large purchase, this card offers key financial advantages. Some of the main features include:
- 0% Intro APR on Balance Transfers: enjoy 21 months of 0% interest on balance transfers from the date of the first transfer.
- 0% Intro APR on Purchases: get 12 months of 0% APR on new purchases, giving you a full year to finance expenses.
- Standard Variable APR: after the introductory period, APR ranges from 17.24% to 27.99%, based on creditworthiness.
- No Annual Fee: you won’t have to pay a yearly fee to keep this card active.
- Balance Transfer Fee: Transfers come with a 5% fee (minimum $5), which should be considered before moving balances.
How does the Citi® Diamond Preferred® compare to other cards?
Choosing the right credit card means comparing its features with other similar options available on the market. As different credit cards meet different financial needs, it is essential to evaluate the alternatives before making a decision. Read on and compare some options.
Citi Simplicity® Card
The Citi Simplicity® card is another strong option for those looking for a long 0% introductory APR period. While it is similar in many ways to the Citi® Diamond Preferred®, it has some unique advantages. Check out the main differences between the two credit cards below:
- Also offers 0% intro APR for 21 months on balance transfers.
- Unlike the Diamond Preferred®, it has no late fees or penalty APR.
- No rewards program, similar to the Citi® Diamond Preferred®.
Wells Fargo Reflect® Card
If you’re looking for another card with a long 0% APR, the Wells Fargo Reflect® card is worth considering. That’s because this option offers competitive terms, but with a slightly different structure. To better evaluate this option, check out its main advantages:
- Features a 0% intro APR for up to 21 months on purchases and balance transfers.
- Lower balance transfer fee of 3% for the first 120 days.
- No rewards program, making it similar in structure to the Citi® Diamond Preferred®.
BankAmericard® Credit Card
The BankAmericard® credit card is another strong contender in the low-interest category. Although it doesn’t match the Citi® Diamond Preferred® in terms of 0% APR duration, for example, it still has other advantages that make it stand out as a good competitor. Check out the main differences between the two credit cards below:
- 0% intro APR for 18 billing cycles, slightly shorter than Citi® Diamond Preferred®.
- Balance transfer fee of 3%, lower than Citi® Diamond Preferred®.
- No rewards, keeping it in line with other debt-focused cards.
Pros and cons of the Citi® Diamond Preferred®
Like any financial product, the Citi® Diamond Preferred® has advantages and disadvantages. What will make the difference when deciding whether or not this type of credit card is worth choosing is each person’s individual needs. Understanding these can help you decide whether it aligns with your financial goals. Below you can see the pros and cons of this credit card.
Pros of Citi® Diamond Preferred®
- Exceptionally Long 0% APR on Balance Transfers – One of the longest interest-free periods in the industry.
- No Annual Fee – Helps keep costs low while benefiting from the introductory offers.
- Exclusive Citi Entertainment® Perks – Early access to concerts, sports events, and dining experiences.
- Free FICO® Score Access – Helps cardholders track and manage their credit health.
Cons of Citi® Diamond Preferred®
- No Rewards Program – No cashback, points, or miles on spending.
- High Balance Transfer Fee – At 5%, fees can add up quickly on large transfers.
- Post-Introductory APR Can Be High – If you don’t pay off balances in time, the APR may reach 27.99%.
Who should get the Citi® Diamond Preferred® Card?
This card is best for individuals who want to save money on interest payments. Whether you are consolidating debt or planning a significant expense, the Citi® Diamond Preferred® provides a valuable opportunity to manage finances more effectively. The Citi® Diamond Preferred® is ideal for those who:
- Need to consolidate existing debt – The 21-month 0% APR makes it ideal for paying off credit card balances.
- Plan large purchases – The 12-month 0% APR on purchases helps spread costs over time.
- Do not need a rewards program – If cashback or points are a priority, other cards may be a better fit.
- Have excellent credit – Since the Citi® Diamond Preferred® requires a high credit score, applicants should have good to excellent credit to qualify.
How to maximize the Citi® Diamond Preferred® benefits
To make the most of the Citi® Diamond Preferred®, consider implementing smart financial strategies that help you optimize the use of your credit card. Using your card responsibly will help you make the most of the interest-free periods and other advantages it offers. Some effective strategies include:
- Pay Off Balances Before the APR Period Ends – Ensure you clear any transferred balance within 21 months to avoid high interest.
- Avoid Additional Debt – Use the 0% APR period wisely and don’t accumulate more debt than you can repay.
- Set Up Payment Reminders – Avoid late payments to protect your credit score and keep finances in order.
- Take Advantage of Citi Entertainment® – Use this perk to get exclusive access to concerts, events, and more.
Final verdict: is the Citi® Diamond Preferred® worth it?
The Citi® Diamond Preferred® is a solid choice for individuals looking to reduce interest payments through balance transfers or finance large purchases. Its exceptionally long 0% APR period makes it one of the best options for debt consolidation.
However, the lack of rewards and the balance transfer fee may be downsides for some users. If you’re looking for a long-term credit card with ongoing benefits, you might want to explore alternatives. But if saving on interest is your main goal, the Citi® Diamond Preferred® is one of the best choices available today.