Time to dive deeper into these two excellent Citi cards -- will we find a clear winner? These two have a lot in common, but a few differences, too.
Long 0% intro APR offers
Winner: Tie. You'll get 21 months of 0% intro APR with both cards.
Both these cards are well-suited for balance transfers because each one comes with a long 0% intro APR offer. Both cards offer 21 months of 0% intro APR on balance transfers and 12 months of 0% intro APR on new purchases. That means you could use either of them to finance a big purchase as you'll get a year to pay before interest comes into play. Carrying a balance could still get expensive, so try to pay it down before the intro period ends.
- The Citi Simplicity® Card's go-to APR is 19.24% - 29.99% (Variable)
- The Citi® Diamond Preferred® Card's go-to APR is 18.24% - 28.99% (Variable)
No annual fee
Winner: Tie. Neither card charges an annual fee.
The Citi Simplicity® Card comes without an annual fee. This will save you money, particularly if you're using it to pay off a big balance. This card is also lacking late fees, so if you accidentally make a late payment one month, you won't be penalized for it.
There's no annual fee on the Citi® Diamond Preferred® Card either, which also makes it a great choice for a money-saving balance transfer. This commonality means we can't use this category to adjudicate a winner for this comparison, though.
Welcome offer
Winner: Citi Simplicity® Card. You'll get a lower balance transfer fee as a welcome offer.
Neither of these two Citi cards offers traditional welcome bonuses. A credit card welcome offer often consists of a chunk of rewards points, miles, or cash back that you earn as a new cardholder. You usually do this by reaching a certain spending threshold within a certain timeframe.
Instead, the Citi Simplicity® Card's welcome offer consists of a lower balance transfer fee. You'll pay 3% ($5 min) for first 4 months, then 5% ($5 min.). This is a decent welcome offer, especially if you're using this card to get out from under existing credit card debt.
Conversely, the Citi® Diamond Preferred® Card has no welcome offer at all. Its balance transfer fee is 5% ($5 min.) of any balances moved to the card, regardless of when you initiate that transfer.
Rewards and perks
Winner: Tie. Neither card offers rewards, and they share a similar range of perks.
Yes, another tie. Why? Well, neither the Citi Simplicity® Card nor the Citi® Diamond Preferred® Card has a rewards program to speak of. This isn't to say that neither card has worthwhile benefits beyond helping you pay off a balance or finance a large purchase, though.
The Citi Simplicity® Card lets you choose your own payment due date, so you can fit it into your budget more easily. The Citi® Diamond Preferred® Card has this perk, too. Plus, it comes with free FICO® Score monitoring. It also offers access to event tickets and dining experiences through Citi® Entertainment.
Although neither card offers rewards, they are both fine examples of balance transfer cards. If you're struggling to get out from under credit card debt, reducing the amount you pay in interest is more important than earning rewards on your spending.
What everyone else is saying
Reddit users have called out the fact that the slightly lower go-to APR could make the Citi® Diamond Preferred® Card the one to pick for some folks, while the lack of late fees and lower balance transfer fee means others might prefer the Citi Simplicity® Card.
Users on the myFICO forums noted that both of these cards could be a good way to lower your credit utilization ratio (the amount of credit you're using relative to how much you have). This was in response to another user who wondered which card to keep (they had qualified for both).
Fact Checked
Nathan Alderman
2024 Award Winner