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Updated December 22, 2015

Citi Diamond Preferred Card Review: 0% APR Offer

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With its 21-month introductory APR on purchases and balance transfers, the Citi Diamond Preferred Card is a great pick for people who carry a balance. While this card does offer a few other benefits, such as a concierge service, its main attraction is its introductory APR.

Overall Score


Interest Rates





5-point scale (the higher, the better)

Pros and Cons

  • Intro APR for 21 months on balance transfers and purchases
  • No Annual Fee
  • No Rewards

Bottom Line

Excellent card for people who carry a balance

After the introductory period, the variable APR applies, currently 13.49% to 23.49% depending on your creditworthiness.

21 months is a long time in the world of credit cards. This is an opportunity for you to get a break from high interest charges, whether you are trying to make a dent in your debt or if you need to make a bunch of big purchases at once and need time to pay them off.

Who Would Benefit Most from This Card

Whether you would benefit from making this your next new credit card depends on how you tend to use your credit cards in general. You could benefit if:

  • You have an existing balance: The 21-month introductory APR introductory period is a nice break from hefty interest charges. If you have been struggling to get on top of your debt, this is one way to get a handle on it (just be sure not to add many new purchases on the debt you’re already carrying and also check out our guide on how to save money by making a balance transfer.)

  • You’re about to make a really big purchase: If you need to make a large purchase such as a new appliance, the 0% introductory period on new purchases with this credit card will help you pay down that debt over time. The interest-free introductory period is lengthy compared to many other credit cards.

Introductory APR

© CreditDonkey

The Citi Diamond Preferred Card has an 0% introductory APR on purchases and balance transfers for 21 months. After that, the APR will be a variable rate, currently 13.49% - 23.49% depending on your creditworthiness.

If you are paying interest on your other cards, you can move the balances over to the Citi Card to help save money on interest for over a year and a half. This card does charge a fee of $5 or 3% on balances transfers, whichever is greater. If you transfer $1,000 to this card, you owe an additional $30 in fees. While a balance transfer to this card is not free, the transfer fee is usually significantly lower than paying monthly interest for a year and a half.

Tip: Use this calculator to estimate how much you can save with a balance transfer.

Fees and Interest
There is no annual fee to use this credit card. That’s a nice plus; however, it’s also not a rewards card. You will not earn reward points that translate into cashback with this card.

Other Benefits

Citi Easy Deals points
While not a cash back rewards card, The Citi Diamond Preferred card does offer Citi Easy Deals points, which you earn every time you make a purchase. You can then redeem them when you make purchases online for name-brand merchandise, gift cards, dining, travel and entertainment. The offers and discounts vary by merchant, with 300,000 deals available.

Concierge and entertainment
It also offers a 24/7 personalized concierge service to help you make hotel or restaurant reservations and buy tickets for flights or shows. This is useful if you're travelling, as a live person can tell you the best places to stay, eat, and shop. You also get access to Citi Private Pass, a service that offers ticket presales, preferred seating VIP packages and unique entertainment experiences.

Purchase protection
The Citi Diamond Preferred card offers $0 liability on unauthorized charges, so you won't pay a cent if someone steals your card number and uses it to make purchases. And should you fall victim to identity theft or fraud, Citi Identity Theft Solutions will offer you a fair amount of assistance in resolving the issue, including filing police reports.

Price protection
And you also get access to price protection. If you register an eligible purchase with Citi Price Rewind, the cost of that purchase will be monitored on hundreds of retailer websites for 60 days. If a price difference of more than $25 is found, that difference will be refunded to you. (Limitations apply).

The added benefits of the Citi Diamond Preferred Card are not as generous as benefits offered by many other cards, but they are a nice supplement to the introductory APR.


  • Introductory APR on all purchases and balance transfers for the first 21 months of the card
  • No annual fee


  • Card does not offer a cash back rewards program
  • 3% foreign transaction fee

How Citi Diamond Preferred Compares

Before you apply, it’s worth comparing this card to similar ones. Comparative cards include those that do not have an annual fee and that also don’t have rewards program.

One that will stick out in particular is the Citi Simplicity Card, which also offers a 0% intro APR on balance transfers and purchases for 21 months. After that, the variable APR will be 14.49% - 24.49% based on your creditworthiness.

The Simplicity has no late fees and no penalty fees, ever. In other words, it lives up to the idea of “simplicity.” The downside is the Simplicity's regular APR is 14.49% to 24.49% variable, compared to Citi Diamond Preferred's regular APR of 13.49% to 23.49% variable.

Bottom Line: Is Citi Diamond Preferred a Good Card?

© Brendan Lally (CC BY 2.0) via Flickr

This is a great card if you want to transfer balances from other credit cards and receive a long relief from interest payments. If you want a card to generate high annual benefits from your purchases, you are better off with a rewards card.

(This article was originally written by David and has been updated by Cynthia)

David R is a contributing writer at CreditDonkey, a credit card comparison and financial education website. Write to David R at Our data-driven analysis has been recognized by major news outlets across the country and has helped consumers make savvy financial and lifestyle decisions. (read more)

Editorial Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi.

Disclaimer: This content was first published on December 30, 2011. This content may have been updated on December 22, 2015. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check Citi website for updated information.

Disclaimer: The information for the Citi Diamond Preferred® Card and Citi Simplicity® Card have been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.

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Compare Citi Diamond Preferred to:

Compare Citi Diamond Preferred vs Chase Sapphire Preferred
Apply for Chase Sapphire Preferred Card
At Chase's Secure Site
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR for PurchasesIntro APR for Balance TransferRegular APRAnnual Fee
16.74% - 23.74% Variable
Introductory Annual Fee of $0 the first year, then $95

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Citi Simplicity Review

Do you have existing debt? The Citi Simplicity is a great way to pay if off faster with a generous intro APR offer. Find out if it's right for you and how it compares with other popular balance transfer cards.
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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