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Key takeaways
- The Citi® Diamond Preferred® Card comes with an exceptionally long intro APR offer on balance transfers, making it one of the best balance transfer cards on the market.
- This card also includes an intro APR offer on purchases, which can be useful if you have a large purchase coming up.
- Other notable card benefits include no annual fee and access to Citi Entertainment, Citi Easy Deals and Citi Flex Loan.
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The Citi® Diamond Preferred® Card is a no-annual-fee credit card that includes an exceptionally long intro APR offer on balance transfers, making it one of the top balance transfer credit cards on the market. That said, the Citi Diamond Preferred is one of the rare top credit cards that does not offer any form of rewards — no cash back, no points.
So, what does that mean if you’re considering adding the Citi Diamond Preferred to your wallet? Here’s everything you need to know about the Citi Diamond Preferred’s benefits, including how to maximize them.
Citi Diamond Preferred intro APR benefits
Intro APR offer on balance transfers
If you want to do a balance transfer with Citi, the Citi Diamond Preferred is going to be one of your best options. The biggest benefit of the Citi Diamond Preferred is its 0 percent intro APR on balance transfers for 21 months (on transfers completed within four months of account opening), followed by a variable APR between 18.24 percent to 28.99 percent. As noted above, this is one of the longest 0 percent intro APR offers available among balance transfer credit cards.
Of course, if you fail to transfer your balance within the first four months, you’ll lose access to the intro APR offer. Also, note that the card charges a relatively high balance transfer fee of 5 percent (or $5, whichever is greater).
Intro APR offer on purchases
The Citi Diamond Preferred also offers a much shorter 0 percent intro APR on new purchases for 12 months, followed by the same 18.24 percent to 28.99 percent variable APR.
If you’re more focused on funding a large upcoming purchase than transferring a balance, know that there are better options available to you with longer intro APR offers.
Additional Citi Diamond Preferred benefits
Free FICO Score access
Often, people seek balance transfer cards to help tackle their debt and improve their credit. With the Diamond Preferred, you’ll enjoy free access to your FICO credit score. Your score will refresh each month, helping you to stay on top of any changes — an important practice to improve your credit score.
Citi Entertainment
Do you enjoy going out to concerts or spending the day at sporting events? With Citi Entertainment, Citi Diamond Preferred cardholders get early or VIP access to tickets for a variety of entertainment options, including music, sports, dining experiences and more. So if you like having early access to concert tickets or making reservations for the hottest new restaurant, consider Citi Entertainment another key benefit of the Citi Diamond Preferred.
Citi Easy Deals
Citi Easy Deals are discounts you can earn on everyday purchases from participating retailers and restaurants (including local businesses). Enrollment is required, but if you spend a certain amount per year, you can gain access to even more discounts.
Citi Flex Loan
The Citi Flex Loan program allows you to borrow money on your Citi credit card’s credit line at a fixed interest rate. You can pay the loan back over a set period of time with no additional fees, applications or credit inquiry required. However, Citi Flex Loans aren’t available to all Citi cardholders; you can check your account to see if you’re eligible.
Maximizing the Citi Diamond Preferred Card
To maximize your Citi Diamond Preferred’s benefits, be sure to make your balance transfer within the first four months of card membership. Otherwise, you won’t be able to take advantage of the intro APR offer, the card’s biggest benefit. After your transfer is complete, use our credit card balance transfer calculator to determine how much you’ll need to set aside each month in order to pay off your debt before the intro APR period ends.
Additionally, don’t forget that the Citi Diamond Preferred’s intro APR offer also applies to new purchases, though for a shorter period of time. If you want to use your card to fund a vacation, cover a home improvement project or pay off a medical bill, this card could be a good fit — but be sure you have a plan for paying off your large purchase before the regular interest rate kicks in.
Make sure to keep an eye out Citi Entertainment offers as well. You never know when your favorite artist or team may be in town and the program is great for getting early access tickets.
The bottom line
The Citi Diamond Preferred is a solid balance transfer credit card option for those who want to avoid paying an annual fee. You won’t earn any cash back or points, but the card is worth it if you can use it to get out of credit card debt, fund a purchase or build your credit score as you pay off your outstanding credit card balances.
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