Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- No Annual Fee
- Payment Flexibility
- Foreign Transaction Fee
- Balance Transfer Fee
On Citi Diamond's Secure Website
Rewards Plan
Sign up Bonus
0% Intro
PROS
- No Annual Fee
- Payment Flexibility
CONS
- Foreign Transaction Fee
- Balance Transfer Fee
APR
17.74% - 28.49% (Variable)
Annual Fee
$0
Balance Transfer Fee
$5 or 5% (the greater)
Credit Requirements
Good - Excellent
If you have credit card debt or are looking to make an expensive purchase you might take a while to pay off, you should consider getting the Citi® Diamond Preferred® Card.
With an ultra-long 0% intro rate period and no annual fee, it is the perfect card to buy you enough room to comfortably settle your debt. It allows you to transfer balances from high-interest credit cards and settle them at your own pace. Without this feature, it functions largely like an average credit card with no annual fees.
The Citi Diamond Preferred Card is a very cost-effective debt management tool which anyone, as long as they have excellent credit, should keep in mind if they are considering financing expensive purchases. While there are no rewards to speak of on this card, the Citi Entertainment feature gives you special access to tickets to thousands of events, concerts, and other exclusive experiences. It also offers you a flexible payment plan (you set the due date) and regular credit card benefits such as purchase protection.
- Long 0% Introductory Rate Period
- No Annual Fee
- $0 Liability Protection on Unauthorized Charges
- Free FICO Score online
- Payment Flexibility
- Citi Entertainment
- Balance Transfer Fee
- Foreign Transaction Fee
Should you move to the Citi Diamond Preferred card?
Suppose you want to take advantage of a long intro with 0% APR. Unfortunately, no cashback rewards are on offer that allows you to earn rewards when you make purchases.
Does Citi Diamond Preferred Card have a cash-back/point rewards limit?
You are not able to earn any cashback rewards with the Citi Diamond Preferred Card. Therefore, you are not dealing with any types of purchases you can earn cashback or any limits on rewards
How do I redeem cash back on my Citi Diamond Preferred Card?
You are not able to earn any cashback rewards with the Citi Diamond Preferred Card. Therefore, you are not dealing with any type of purchase. You can earn cashback or any limits on rewards.
How hard is it to get Citi Diamond Preferred Card?
It is not very hard to get one of these credit cards. This is because there are not too many requirements that you have to meet first.
Top reasons NOT to get the Citi Diamond Preferred Card?
You will not be able to earn any cashback rewards when you use this type of card. Many people prefer having a credit card that gives them some return.
Table of Contents
Benefits
Let’s take a look at the benefits of this credit card and see if it’s the right one for your wallet or not.
- Long 0% Introductory Rate Period
The Citi Diamond Preferred Card gives you an ample amount of time to pay off debt on your credit card. The 0% intro APR which lasts 21 months on balance transfers and 12 months on purchases . Then, 17.74% – 28.49% (Variable).
Balance transfers have to be completed within four months from the date you open an account.
- No Annual Fee
This card does not charge annual fees. While it is not the only card that doesn’t, this feature is certainly good value for the benefit the card offers.
- $0 Liability Protection on Unauthorized Charges
The best of us lose our cards or have them stolen. If this happens, there’s always the risk of someone else using your card to make unauthorized purchases. Citi Diamond Preferred Card does not hold you responsible for any purchase made this way. The purchase protection offered on the card covers both online and offline purchases.
- Free FICO Score online
Citi Diamond Preferred Card partners with FICO and Equifax to give you free monthly access to your FICO score online. You can use this feature to see how you’re doing and make better financial decisions which might improve your credit standing with time.
- Payment Flexibility
This credit card allows you to have some control over how you make your monthly payments. You may choose to pay your balance in full or just the minimum required monthly. Select any date available at the start, middle, or end of the month that works for you.
- Citi Entertainment
This feature gives you special access to numerous events, concerts, dining, and exclusive VIP packages. You are required to pay for the tickets and experiences, but having access to early, sometimes presale tickets is a perk by itself.
Drawbacks
Let’s take a look at the drawbacks of this credit card and see if it’s the right one for your wallet or not.
- Balance Transfer Fee
Some cards waive this fee as part of the introductory offer. Since this card does not, you should consider the cost of moving your balance from other cards to this in relation to the benefits other intro cards might offer.
The balance transfer must be completed within the first 4 months of account opening. After that, the fee is $5 or 5% (the greater).
- Foreign Transaction Fee
The Citi Diamond Preferred Card is not the best card to use on international purchases. The 3% transaction fees may not seem expensive, but if you make enough foreign transactions, the numbers add up.
How To Apply For Citi Diamond Preferred Credit Card?
- 1.
Start your application by visiting the homepage of Citi’s website. Click on “Credit Cards” from the top of the page and navigate to Citi Diamond Preferred Card. Click on “Apply Now” to begin.
- 2.
All the information you need to provide can be filled in the form on the page below.
Provide your personal information: your full name, house address, date of birth, social security number, country of citizenship, email address, and one phone number. Provide a security word to add more protection to your account with them.
- 3.
The next step is to enter your financial information. This covers your total annual income, monthly mortgage payment, and your bank account type. Please ensure to state if part of your income is exempt from US federal taxes. You may choose to add an authorized user if you wish.
- 4.
The final step requires you to read and agree to the terms and conditions associated with owning a Citi Diamond Preferred Card. You are at liberty to print this out. Once you have agreed to Citi’s terms, tick the box below the terms the click on “Agree & Submit” to finish. Now, all you have to do is wait for their verdict.
- 5.
Then click on “continue” to complete the process.
Compare The Alternatives
There are several other great options out there – let’s review a few of our top choices as alternative options to the Citi Diamond:
|
|
| |
|---|---|---|---|
Capital One Savor card | Chase Freedom Unlimited® card | Citi Simplicity® Card | |
Annual Fee | $0
| $0
| $0
|
Rewards |
1% – 3%
earn unlimited 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®), 1 percent on all other purchases.
|
1.5% – 5%
5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases and 1.5% cash back on all purchases
|
None
None
|
Welcome bonus |
$200
$200 cash bonus once you spend $500 on purchases within the first 3 months from account opening
|
Up to $300
additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year)- worth up to $300 cash back
|
None
None
|
Foreign Transaction Fee | None
| 3%
| 3%
|
Purchase APR | 19.24% – 29.24% variable
| 19.49% – 28.24% variable
| 18.74% – 29.49% (Variable)
|
FAQ
There are certain types of credit cards that will allow you to get free car rental insurance with them. However, this is not the case with this type of card.
You are able to get pre-approval for this type of card. This means that there will be no hard credit check needed if you are just looking to see if you are going to be eligible for this credit card.
The credit limit for the Citi Diamond Preferred Card is usually at least $500. The exact limit will depend on your personal financial situation that you have outlined in your application.
You are not able to earn any sort of cashback rewards with the Citi Diamond Preferred Card. Therefore, you are not dealing with any types of purchases you can earn cashback or any sort of limits on rewards.
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