Citi® Diamond Preferred® Card

Robin Saks Frankel  in  Balance Transfer Advertising Disclosure

Best overall 0% APR period for balance transfers

Annual Fee:
Purchase Intro APR:
0%* for 12 months on Purchases*
Balance Transfer Intro APR:
0%* for 21 months on Balance Transfers*
Regular APR:
14.99% - 24.99%* (Variable)
Terms and Restrictions Apply | Rates and Fees
Bankrate Score: 82 out of 100

Commonly used for: 0% APR, Balance Transfer, Good Credit, No Annual Fee.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our 0% apr category page.

Editor’s note: Some of the offers below may no longer be available through our site.

Citi® Diamond Preferred® Card gives you one of the longest 0% introductory periods available today to pay off balance transfers — 21 months.

So if you find yourself thousands of dollars in credit card debt, this is a good option to help you start climbing out of that hole. However, there is a 5% or $5 (whichever is greater) transfer fee, which can add up quickly if you are transferring a large sum of money. If you want a card without that fee, we recommend the Amex Everyday Card.


As with many other balance transfer credit cards, Citi Diamond Preferred Card is a bit skimpy when it comes to perks outside of the generous intro period. You’ll get no sign-up bonus and no rewards. In January 2018 they added a 12 month 0% APR offer on purchases. But, for someone looking to get out of debt that shouldn’t matter much anyway.

We love that Citi gives new cardholders nearly two years to pay off their debt, and the 5% or $5 balance transfer fee is on the low-end of what issuers typically charge.

However, at least two other credit cards waive that transfer fee for a limited time for new cardholders. Depending on the size of the balance you want to transfer, that could save hundreds of dollars.

Further, if you think you might occasionally pay your credit card bill late, (but you shouldn’t) with the Citi Diamond Preferred you’ll get dinged with a hefty penalty APR plus a late fee. If you’re not so sure about making payments on time, consider the Citi Simplicity Card, which also gives a longer than usual intro APR period.

Who should get this card

The Citi Diamond Preferred Card is really tailored to someone who needs quite a long time to pay down their credit card debt. The 15- or 18-month offers available today may be cheaper on paper, but not if you can’t get rid of your debt during that time period.

The go-to APR on the low end is a bit better than some other balance transfer credit cards, so if you need the extra cushion and you still might not pay down all of your debt then, having this card could help. Remember, though, the best interest rate available only goes to those with top credit.

  • The 21-month 0% introductory period for balance transfers is the longest available.
  • You'll be charged no annual fee.
  • There's an introductory 12-month 0% offer on purchases.
  • After that, regular APR 14.99% - 24.99% variable; will apply
  • Although it’s on the lower range, at 5% or $5 (whichever is greater) the fee for a large balance transfer could end up to be a hefty sum.
  • There are no opportunities to earn rewards with this card.
  • The penalty fee applies after one late payment and can last indefinitely.

Fees and APR

  • There is no annual fee.
  • The balance transfer fee is 5% or $5, whichever is greater.
  • You’ll pay a 3% foreign transaction fee on all purchases made outside of the United States.
  • Enjoy a 0% introductory APR for 21 months on balance transfers when transfers are completed within four months of account opening. After that, your APR will be 14.99% to 24.99% variable, based on your creditworthiness.
  • There’s 0% introductory APR on purchases for 12 months from date of account opening. After that the variable APR will be 14.99% – 24.99%, based on your creditworthiness.

Extras and perks

This card comes with Citi Private Pass perks, which offers presale access to events including concerts, sporting events and dining events.

The card has Citi’s Price Rewind feature, which can help refund the price difference if you made a purchase that can be found for less elsewhere.

Anyone who is driven mad by endless voice prompt menus will love that you can just say “representative” to be connected to a live person.

How this card compares

Discover it® Cash Back
  • Intro Offer: Discover will match all the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and more up to the quarterly maximum, each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at checkout.
  • Receive Free Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
  • No annual fee.
Apply Now On Discover's secure website
Credit Needed


Regular APR

14.24% - 25.24% Variable

Annual Fee


Purchase Intro APR

0% for 14 months

Balance Transfers Intro APR

0% for 14 months

Discover it® Cash Back cardholders can earn 5% cash back on up to $1,500 in purchases made in accordance with Discover’s 2018 Cashback Calendar after enrollment. Enroll every quarter to earn 5% cash back on up to $1,500 in purchases made in various categories throughout the year.

You won’t earn one of those huge sign-up bonuses other cards offer, but if you’re looking for a no-frills cash-back card, the Discover it® Cash Back credit card does come with one intriguing feature: Discover will pay a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year.

Citi Simplicity® Card
  • The only card with No Late Fees, No Penalty Rate, and No Annual Fee... Ever
  • 0% Intro APR on balance transfers for 21 months from date of first transfer. All transfers must be completed in first 4 months. After that, the variable APR will be 16.24% - 26.24%, based on your creditworthiness
  • 0% Intro APR on purchases for 12 months from date of account opening. After that, the variable APR will be 16.24% - 26.24%, based on your creditworthiness
  • If you transfer a balance with this offer, after your 0% Intro purchase APR expires, both new purchases and unpaid purchase balances will automatically accrue interest until all balances, including your transferred balances, are paid in full
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • The same great rate for all balances, after the introductory period
  • Save time when you call with fast, personal help, 24 hours a day — just say "representative"
  • Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month
Apply Now On Citi's secure website
Credit Needed

Excellent, Good

Regular APR

16.24% - 26.24%* (Variable)

Annual Fee


Purchase Intro APR

0%* 12 months on Purchases* for 12 months

Balance Transfers Intro APR

0%* 21 months on Balance Transfers* until 01/2019

If you have a great deal of credit card debt, you have a choice to make when it comes to balance transfer credit cards: Pick the one that on the surface offers the cheapest way to get out of debt, or pick the one that gives you a long 0% APR introductory period.
The Citi Simplicity Card falls into this second group.