Citi® Diamond Preferred® Card review

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Recommended Credit Score

Good to Excellent (670 - 850)

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Apply Now On Citi's secure website

18 months 0% intro APR | Excellent credit

Annual Fee:
Purchase Intro APR:
0% for 18 months on Purchases
Balance Transfer Intro APR:
0% for 18 months on Balance Transfers
Regular APR:
13.74% - 23.74% (Variable)
Terms and Restrictions Apply

Bankrate Rating

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 Best for a long balance transfer period

  • Rewards Rate: None
  • Welcome Offer: None
  • Annual Fee: $0
  • Purchase Intro APR: 0 percent for 18 months
  • Balance Transfer Intro APR: 0 percent for 18 months
  • Regular APR: 13.74 percent to 23.74 percent (variable)

Whether you’re looking to pay off debt via a balance transfer or finance new purchases, the Citi® Diamond Preferred® Card could be a lifesaver. The card comes with a lengthy introductory APR offer on both purchases and balance transfers, charges no annual fee and gives cardholders with good to excellent credit a chance at a relatively low ongoing APR, which could make the card worth it for you.

Citi Diamond Preferred Card: Current intro APR offer

The Citi Diamond Preferred Card is currently offering a 0 percent intro APR on both balance transfers and purchases for your first 18 months as a cardmember (13.74 percent to 23.74 percent variable APR thereafter). Balance transfers must be completed within four months of account opening. That gives you more than a year to chip away at transferred debt or cover purchases without paying interest.

Though the Citi Diamond Preferred Card has featured an even longer intro APR period in the past, 18 months is still a solid offer. In fact, it’s currently one of the longest promotional periods on the market. 

If you need to pay down debt or strategically carry a balance on new purchases, transferring to the Citi Diamond Preferred Card could be a great option. Just be sure to complete your transfer within four months of opening your account and pay at least the minimum due each month to protect your credit score (and, ideally, pay more than the minimum to ensure you’re not left with a balance when the intro APR period ends).

Citi Diamond Preferred Card: Benefits

Without a doubt, the main benefit of the Citi Diamond Preferred Card is its long intro APR period on balance transfers and purchases. The card is noticeably thin on perks and carries no rewards program, which severely limits its long-term value. Still, the Citi Diamond Preferred offers a handful of benefits worth mentioning.

Borrow at a fixed rate with a Citi Flex Loan

Citi Flex Loans allow you to borrow money against your Citi card credit limit at a fixed rate and pay it back over a set period of time, with no additional fees, application or credit inquiry required. This could be a useful tool should you need a personal installment loan down the line. The catch is you must be targeted for a Citi Flex Loan by the issuer–they’re not available for all cardholders. Cardholders may also have the option to finance purchases with Citi Flex Pay and, depending on the size of the purchase, choose from one to five equal monthly payment plans.

Get the VIP treatment with Citi Entertainment

Citi Entertainment can get you early or VIP access to thousands of experiences like concerts, sporting events, dining and more when you pay with your Citi card. While this is not a make-or-break feature of the Citi Diamond Preferred Card, it’s a decent perk if you enjoy live events, special access and unique experiences.

Save on everyday purchases with Citi Easy Deals

Citi Easy Deals are a collection of discounts and daily deals on everyday purchases, including local offers from restaurants and retailers. Depending on how much you spend per year, you can also unlock promotions for gift cards, magazines, travel, merchandise and more. Again, this is a minor perk that’s unlikely to save you a ton of money–but it’s welcome nonetheless.

The Citi Diamond Preferred Card also comes with fairly standard features like $0 liability on unauthorized charges, identity theft solutions and contactless payments.

Rates and fees

The Citi Diamond Preferred Card carries no annual fee and could offer cardholders with good to excellent credit a decent ongoing APR; but it may prove costly if you have a big balance to transfer, fail to pay off your balance during the introductory period or can only qualify for its high-end APR. Keep these rates and fees in mind as you consider whether the card is a good fit: 

  • Balance transfer fee: To take advantage of this card’s balance transfer offer, you’ll need to pay a balance transfer fee of 3 percent of the amount you want to transfer (or $5, whichever is higher). Three percent is a fairly common balance transfer fee, and many cards charge an even higher fee. That said, a card with no balance transfer fee will likely save you money in the long run, even though you’ll typically have less time to pay off your debt at a 0 percent intro APR. Check out Bankrate’s credit card balance transfer calculator and see how the math shakes out for you.
  • Foreign transaction fee: The card charges a foreign transaction fee of 3 percent for purchases made abroad, so it’s not the best choice for frequent international travelers.
  • Ongoing APR: The Citi Diamond Preferred offers a wide range of potential APRs, depending on your creditworthiness. While the card’s low-end variable APR of 13.74 percent is a bit lower than the average credit card APR, the high-end variable APR of 23.74 percent is very high indeed – over 40 percent higher than the average credit card APR. In either case, carrying a balance will be costly, so do your best to pay off any new purchases or transferred balances before the end of the card’s introductory APR period.

Cost vs. value

Since there are no rewards or perks packaged with the card that provide monetary value back, any ongoing value to gain from the Citi Diamond Preferred card comes from the time and interest you save with its zero-interest periods—which can be a sizable sum. If your issuer classifies your Diamond Preferred as a World Elite Mastercard, you may be eligible for a $10 Lyft statement credit per month after taking five Lyft rides during that time (up to a $120 value per year). But any eligible Mastercard with World Elite benefits gets that benefit, so it isn’t a Citi-exclusive benefit worth sticking around for.

Otherwise, the Diamond Preferred card doesn’t provide any ongoing value after your intro APR ends. The minimum ongoing variable APR isn’t much lower than average, so the Diamond Preferred isn’t necessarily the best low interest credit card to hold onto after paying off your balance.

Benefits and Costs First-year value Ongoing value (no welcome offers)
Yearly rewards* N/A N/A
Welcome offers N/A
Perks (of monetary value) N/A N/A
Annual fee -$0 -$0
Total value $0 $0
Total value of balance transfer (if applicable)**
  • Intro APR: 0% for 18 months on purchases and balance transfers (transfers must be completed within first four months)
  • Cost of balance transfer fee: $159.45 (3%, $5 minimum)
  • Interest savings: $705
  • Months of payment saved: 3 months
  • Ongoing APR: 13.74% to 23.74% (variable)
  • Minimum rate: approximately 16% below average APR
  • Maximum rate: approximately 38% higher than average APR

*Based on the following estimates for annual expenditures by category: groceries ($4,600); dining ($3,500); household utilities, fuels and public services ($4,000); household supplies, furnishings and home improvement ($2,800); apparel and services and department stores ($1,800); gas and gas stations ($2,000); transit and rideshares ($800); entertainment ($3,000); personal care products and services, household operations and other miscellaneous spending ($3,300); travel ($2,000); pharmacies and drugstores ($1,300); online shopping ($1,800).

**Pre-transfer card data based on the average credit card debt, average credit card interest rate (at time of writing), minimum ongoing variable APR and the minimum monthly payment to pay off the balance within the transfer card’s intro APR period factored into Bankrate’s balance transfer calculator and credit card payoff calculator for comparison.

How the Citi Diamond Preferred Card compares to other balance transfer cards

While balance transfer offers can be tough to come by these days, a handful of cards match or come close to the Citi Diamond Preferred Card’s intro APR offer, with a few offering additional benefits like cash back rewards or a lower ongoing APR.

In fact, its sibling, the Citi Simplicity® Card, is nearly identical to the Citi Diamond Preferred and it doesn’t charge a late payment fee or penalty APR if you miss the payment due date. In exchange, the Citi Diamond Preferred carries a slightly lower ongoing APR compared to the Citi Simplicity’s rate (14.74 percent to 24.74 percent variable). If you practice good credit habits and you plan on paying off your balance before your intro APR period ends, neither of those two trade-offs will matter, but it’s worth considering which perk you’ll be more likely to need if worse comes to worst.

Here are some of the other top balance transfer credit cards you may want to consider, and a few details to help you see how they stack up:

Card Annual fee Rewards Welcome bonus Other details
Citi® Double Cash Card $0
  • Up to 2% unlimited cash back on every purchase (1% when you buy, 1% when you pay off those purchases)
  • 0% intro APR for 18 months on balance transfers (must be made within the first four months; 3% or $5 minimum balance transfer fee) Afterwards, 13.99% to 23.99% (variable) ongoing
Citi Simplicity® Card $0 N/A N/A
  • 0% for 18 months on purchases and balance transfers.  Afterwards, 14.74% to 24.74% (variable APR ) ongoing (transfers must be made within the first four months; 3% or $5 minimum balance transfer fee)
  • No late payment fees or penalty APR
Wells Fargo Active Cash℠ Card $0
  • Unlimited 2% cash rewards on purchases
$200 cash rewards after spending $1,000 in purchases within the first three months.


  • 0% intro APR for 15 months on purchases from account opening and qualifying balance transfers. Afterwards, 14.99% to 24.99% (variable) ongoing
  • Up to $600 cellphone protection when paying your cellphone bill with this credit card (up to two claims for damage or theft per year, $25 deductible)

Best cards to pair with the Citi Diamond Preferred Card

The Citi Diamond Preferred Card offers no rewards program, so pairing it with a no annual fee rewards credit card could be a great way to earn points or cash back on some of your spending. Depending on your spending habits, you can opt for a card that offers outsized rewards in a specific category or stick with a flat-rate card to earn rewards on every purchase you make. However, whittling down your balance should be your top priority.

The Citi Double Cash Card is a great flat-rate option, offering up to 2 percent cash back on every purchase (1 percent when you buy and 1 percent when you pay off those purchases). This card is ideal if you’re looking for a low-maintenance way to earn rewards, without worrying about whether your purchases will qualify.

The Chase Freedom Flex℠, meanwhile, requires a bit of work, as you’ll have to enroll in a bonus category each quarter to earn rewards. The card may be worth the trouble, though, as it gets you 5 percent cash back in rotating bonus categories each quarter you activate (on up to $1,500 in spending per quarter, then 1 percent). Plus, you’ll also earn a consistent 5 percent back on Chase Ultimate Rewards travel and 3 percent on dining and travel.

Bankrate’s Take – Is the Citi Diamond Preferred Card worth it?

If you need to pay down debt or finance purchases, the Citi Diamond Preferred Card should be a good fit. Though it carries a balance transfer fee and comes with little in the way of rewards or cardholder perks, the Citi Diamond Preferred Card should get the job done if your goal is to tackle debt, avoid interest charges and enjoy some room to breathe.


  • Long introductory APR period on both purchases and balance transfers
  • No annual fee
  • Potentially low APR for cardholders with good to excellent credit


  • Balance transfer fee of 3 percent (or $5, whichever is higher)
  • High-end APR is very high and the low-end APR isn’t low enough to warrant keeping the card for
  • Foreign transaction fee of 3 percent
  • No rewards program

Frequently Asked Questions

Unfortunately, the Citi Diamond Preferred doesn't offer a rewards program. The Diamond Preferred card's primary focus is its generous intro APR, but you can easily partner it with or switch to a Citi ThankYou Rewards card once you've whittled down your balance.
If you haven't applied to a Citi balance transfer card yet, the process is easy. All you have to do is log into your Citi account and go to "Payments and transfers," select "Balance Transfers" and select the balance transfer offer that you want. Unlike some issuers, Citi allows you to transfer balances from select sources other than credit cards, including eligible loans. Type in the details for each of the creditors that you'll be transferring your balance from (such as the account number and name of the creditor) and you should be set. If you'd rather do the process over the phone with a Citi representative, you can apply for a card at 1-888-201-4523 or contact the issuer's online banking customer service at 1-800-374-9700.
Good to excellent credit will give you the best chance to qualify for a Citi Diamond Preferred card (a 670-850 FICO score, or a 661-850 VantageScore).
There is no annual fee to worry about recouping with the Citi Diamond Preferred card.
Outside the long intro APR periods, the Citi Diamond Preferred doesn't carry any exclusive perks. You may qualify for certain Mastercard perks depending on your card's status (Mastercard World Elite, etc.), but your Citi credit card also grants you access to the Citi Entertainment, Citi Easy Deals and Citi Flex Loan features. These programs may allow you extra entertainment experiences, discounts or financing opportunities.
about the author
Nouri Zarrugh is a writer and editor for and, focusing on product news, guides and reviews. His areas of expertise include credit card strategy, rewards programs, point valuation and credit scores, and his stories on building credit have been cited by, LifeHacker, and more. Through his thorough card reviews and...
about the coauthor
Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on, he joined the and teams as a staff writer to develop product reviews and comprehensive credit ...