Citi Diamond Preferred MasterCard Review

The Citi Diamond Preferred MasterCard adds an extra level of prestige to a rewards card. The rewards for this card are through the Thank You Network, which allows you to redeem points for merchandise, travel, event tickets, and gift cards. The card carries no annual fee and offers a 0% Annual Percentage Rate (APR) on balance transfers within the first twelve months. The purchase rate is variable based on Prime and can be as low as 10.49% depending on your credit.

Citi Diamond Preferred Card Intro P APR Intro BT APR APR as low as 0% 0% N/A Access to special events and ongoing discounts, plus 24/7 Concierge Service at your fingertips Extra Cash from Citi - a free benefit that gives you access to discounts online apply online

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The Thank You Network rewards program gives you five points for every one dollar you spend at grocery stores, drugstores, or gas stations for the first year. For every other purchase and after the first year, you’ll receive one point for every dollar. You can begin collecting rewards from the Network with just 1000 points, so it’s easy to start earning and cashing in your points. Plus, if you like to do your regular shopping with your credit card and pay the balance at the end of the month, this is a good way to do it and earn points at the same time.

As a Diamond cardholder, you’ll have exclusive access to Diamond Perks, which brings you events, concerts, and other special activities. In addition, you’ll receive Diamond Offers, which provides discounts on a variety of retail products. Diamond Preferred cardholders are also able to choose their billing date, which gives you great flexibility on your finances.

In addition to the added flexibility and exclusivity of this rewards card, you’ll also have automatic protection through insurance services, fraud protection, and online account services. If you purchase travel tickets on a major carrier with your Diamond Preferred card, you’ll not only gain reward points but you’ll also get one million dollars in accidental travel insurance. For car rental on the card, you’ll receive accident insurance so that there is no worry about accepting the rental company’s insurance policy.

Security is a concern for all credit card holders and the Diamond Preferred card offers protections, such as a photo card that ensures you are the cardholder. You can use virtual account numbers with this card as well, which means that you can provide online or phone merchants a substitute account number without giving out the real one. Citi also offers cardholders the ability to enroll in Identity Monitor, which keeps watch over your credit and alerts you when things change. Finally, with online account management, you can stay on top of all your transactions and find out immediately if fraudulent activity has occurred.

In addition to the regular benefits for cardholders, the Diamond Preferred card offers you options such as Payment Aid, which is insurance against long-term illness or inability to pay due to loss of work, as well as the opportunity to speak with investment representatives from Smith Barney to plan your financial future.

With the convenience of a Pay Pass, which is a “mini-card” you can swipe at certain merchants for smaller purchases, as well as the ability to earn rewards, the Citi Diamond Preferred MasterCard is a great choice.

Write to Chris Anderson at chris@creditdonkey.com