The Citi® Diamond Preferred® Card is a no annual fee credit card that offers 0 percent introductory APR on purchases for 12 months and on balance transfers for 21 months (14.49% – 24.49% variable APR after that). That said, the Citi Diamond Preferred is one of the rare top credit cards that does not offer any form of rewards—no cash back, no points.
So, what does that mean if you’re considering adding the Citi Diamond Preferred to your wallet? Here’s everything you need to know about the benefits of Citi Diamond Preferred—including how to get the most out of the card’s balance transfer offer and how to maximize its perks and benefits along the way.
As a reminder: Details of the Citi Diamond Preferred Card
- Rewards rate: None
- Welcome offer: None
- Annual fee: $0
- Purchase intro APR: 0 percent for 12 months
- Balance transfer intro APR: 0 percent for 21 months
- Regular APR: 14.49% – 24.49% (variable)
The Citi Diamond Preferred is a top balance transfer credit card thanks to its 0 percent intro APR rate on balance transfers for 21 months (balance transfers must be completed within the first four months of card ownership, 14.49% – 24.49% variable APR after that).
The Citi Diamond Preferred doesn’t charge an annual fee, which makes it a good choice for people who want to pay off debt with a balance transfer without a yearly charge for card ownership.
However, the Citi Diamond Preferred is not a rewards credit card, which means you aren’t going to earn any cash back on your purchases, get any Citi Diamond Preferred card travel benefits or rack up points or miles.
In sum: If you want a simple, no-fee card with a lengthy low-interest offer that can help you pay off old debt or fund a large purchase, the Citi Diamond Preferred could be the perfect tool for the job. If you’re looking for a cash back credit card or a travel credit card, you should consider other options.
Citi Diamond Preferred card benefits
0% intro APR on balance transfers
The biggest benefit of the Citi Diamond Preferred is its 21-month 0 percent intro APR on balance transfers (14.49% – 24.49% variable APR thereafter). This is one of the longest intro APR offers on the market, making the Citi Diamond Preferred one of the best zero-interest cards currently available.
This means that, with the Citi Diamond Preferred, new cardholders get 21 months free of interest on balance transfers made within the first four months of card ownership. If you want to do a balance transfer with Citi, the Citi Diamond Preferred is going to be one of your best options.
Additional Citi Diamond Preferred credit card benefits
Do you enjoy going out to concerts or spending the day at sporting events? With Citi Entertainment, Citi Diamond Preferred cardholders get early or VIP access to tickets for a variety of entertainment options, including music, sports, dining experiences and more. So if you like having early access to concert tickets or making reservations for the hottest new restaurant, consider Citi Entertainment another key benefit of the Citi Diamond Preferred.
Citi Easy Deals
Citi Easy Deals are discounts you can earn on everyday purchases from participating retailers and restaurants, including local businesses.
Citi Flex Loan
The Citi Flex Loan program allows you to borrow money on your Citi card’s credit line at a fixed interest rate. You can pay the loan back over a set period of time with no additional fees, applications, or credit inquiry required. However, Citi Flex Loans aren’t available to all Citi cardholders; you can check your account to see if you’re eligible.
How to maximize Citi Diamond Preferred Card benefits and perks
To maximize your Citi Diamond Preferred’s benefits, be sure to make your balance transfer within the first four months of card ownership. Otherwise, you won’t be able to take advantage of the Citi Diamond Preferred’s 21-month 0 percent introductory APR on balance transfers (14.49% – 24.49% variable APR thereafter).
To help get your balance transfers done on time, consider using Bankrate’s credit card balance transfer guide. Then, use our balance transfer calculator to determine how much you’ll need to set aside each month to pay off your debt before the 0 percent intro APR period ends.
Additionally, don’t forget that the Citi Diamond Preferred’s low-interest offer also applies to new purchases. If you want to use your Citi Diamond Preferred to fund a vacation, cover a home improvement project or pay off a medical bill, make sure to take advantage of this 0 percent interest opportunity—and be sure you have a plan for paying off your large purchase before the regular interest rate kicks in.
Is the Citi Diamond Preferred worth it?
Remember that the Citi Diamond Preferred is not a rewards credit card, so if you were thinking about applying in order to maximize your Citi ThankYou Points, you’ll need to choose a different Citi credit card instead. That said, many people will find the Citi Diamond Preferred’s benefits to be more than enough for their long-term financial goals—meaning that a credit card that doesn’t earn points, cash back or miles might not be that big of a deal.
Learn More: Is the Citi Diamond Preferred Card worth it?
The bottom line
The Citi Diamond Preferred is a solid balance transfer credit card option for those hoping to avoid paying an annual fee. You won’t earn any cash back or points with the Citi Diamond Preferred, but you can use the card to get out of credit card debt, fund a major purchase or build your credit score as you pay off your outstanding credit card balances.