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The Citi® Diamond Preferred® Card sets itself apart with 21 months 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.
Good/Excellent (670-850)
Intro APR
Purchases: 0%, 12 months
Balance Transfers: 0%, 21 months
Regular APR
18.24% - 28.99% (Variable)
Rewards
N/A
Annual Fee
$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.
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
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 |
Discover will match all the cash back you've earned at the end of your first year. N/A | 1% - 5% Cashback 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—automatically. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 18.24% - 28.24% Variable APR |
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Rating image, 5.00 out of 5 stars.
5.00/5
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 |
Up to $300 cash back Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases. | 1.5% - 5% cash back Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases |
Intro: 0% Intro APR on Purchases and Balance Transfers for 15 months Purchases: 0% Intro APR on Purchases, 15 months Balance Transfers: 0% Intro APR on Balance Transfers, 15 months Regular: 20.49% - 29.24% Variable |
Apply Now for Chase Freedom Unlimited®
On Chase's Secure Website. |
|
Rating image, 5.00 out of 5 stars.
5.00/5
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 |
75,000 Miles 75,000 Miles once you spend $4,000 on purchases within 3 months from account opening | 2X-5X miles Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. |
Intro: Purchases: N/A Balance Transfers: N/A Regular: 19.99% - 29.99% (Variable) |
This credit card is a good fit for: People wanting to pay off debt faster using balance transfer strategies.
The Citi® Diamond Preferred® Card has a couple of excellent benefits, and one of the best 0% intro APR offers.
This Citi credit card has a 0%, 21 months 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?
The Citi® Diamond Preferred® Card also offers a 0%, 12 months 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.
The best 0% intro APR credit cards keep fees to a minimum. The Citi® Diamond Preferred® Card doesn't charge an annual fee.
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.
The card also comes with Mastercard's free ID Theft Protection program. If you enroll, you'll receive alerts if suspicious activity is detected.
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.
There are a few flaws you should know about with this Citi card.
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.
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.
The Citi® Diamond Preferred® Card balance transfer fee is 5% ($5 min.). 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.
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.
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.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
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.
At The Motley Fool Ascent, 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 The Ascent rates credit cards.
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 0%, 12 months APR period. 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:
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.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The Motley Fool owns shares of and recommends Mastercard.