The Bank of America® Travel Rewards and the Citi® Diamond Preferred® Card have good introductory APR periods and no annual fees. The BofA Travel Rewards is better for earning travel rewards, offering unlimited 1.5 points per $1 on all purchases and a 25,000-point welcome bonus. The Citi Diamond Preferred is excellent for balance transfers, with a longer 0% APR period of 21 months.
Bank of America® Travel Rewards
vs. Citi® Diamond Preferred® Card
Choose the BofA Travel Rewards for earning unlimited travel points or the Citi Diamond Preferred Card for paying down debt with its long 0% intro APR on balance transfers.
Updated: November 22, 2024
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- Regular APR18.74% - 28.74% variable17.49% - 28.24% variable0% APR Offer0% for 15 billing cycles on purchases0% for 12 months on purchasesIntro OfferEarn 25,000 pointsEarn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening — that can be a $250 statement credit toward travel purchases.No current offerThis card doesn't offer cash back, miles, or pointsRewards SummaryEarn 1.5 pointsEarn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire.-This card doesn't offer cash back, miles, or pointsBalance Transfer Offer0% for 15 billing cycles on balance transfers0% for 21 months on balance transfersBalance Transfer Fee3% for 60 days from account opening, then 4%5% of each balance transfer; $5 minimumAnnual Fee$0$0Recommended Credit670–850 (good to excellent)670-850 (Good to Excellent)Penalty APRUp to 29.99% variableUp to 29.99% variable, may apply indefinitely for late payment or returned paymentNot sure?
The BofA Travel Rewards is great for everyday spending and international travel, with 1.5 points per $1 spent on all purchases and no foreign transaction fees. The Citi Diamond Preferred is better for balance transfers, with a 21-month 0% APR period.
Choose the BofA Travel Rewards for rewards and travel benefits or the Citi Diamond Preferred for managing debt with a longer 0% intro APR on balance transfers.
Which Card Is Better for You?
You might prefer the BofA Travel Rewards if you travel often and want to earn points on every purchase. With this card, you’ll earn unlimited 1.5 points per $1 spent, redeem points for travel-related expenses and enjoy no foreign transaction fees.
You might prefer the Citi Diamond Preferred if you want to save on interest with balance transfers. It offers a long 0% introductory APR on balance transfers and includes free FICO® Score access and Citi Entertainment®.
Head-to-Head Comparison: Card Details and Features
Evaluating APRs, fees, credit requirements and rewards will help you choose the card that fits your needs. For example, BofA Travel Rewards' travel points might appeal to you. If you need to consolidate debt, Citi Diamond Preferred's longer 0% APR on balance transfers could save you more on interest.
Regular APR: Citi Diamond Preferred
The Citi Diamond Preferred has a lower regular APR, starting at 18.24%, lower than the BofA Travel Rewards' 19.24%.
Annual Fee: Tie
The BofA Travel Rewards and the Citi Diamond Preferred have no annual fee, helping cardholders avoid extra costs.
Introductory 0% APRs: Citi Diamond Preferred
The Citi Diamond Preferred has a longer 0% APR on balance transfers — 21 months versus BofA Travel Rewards' 15 billing cycles. Despite its higher 5% balance transfer fee, the Citi Diamond Preferred is better for transferring and paying down existing balances.
Rewards: BofA Travel Rewards
The BofA Travel Rewards offers unlimited 1.5 points per $1 spent on all purchases. Points don't expire and can be redeemed for travel, dining or cash back. The Citi Diamond Preferred doesn't offer any rewards.
Welcome Offers: BofA Travel Rewards
The BofA Travel Rewards gives 25,000 bonus points after spending $1,000 in the first 90 days, equivalent to a $250 statement credit for travel. The Citi Diamond Preferred has no welcome bonus.
Recommended Credit Score: Tie
Both cards require a good to excellent credit score of 670–850.
Penalties and Fees: BofA Travel Rewards
The BofA Travel Rewards has no foreign transaction fees, while the Citi Diamond Preferred charges a 3% foreign transaction fee. Both cards have similar late and cash advance fees.
Issuer Satisfaction: BofA Travel Rewards
Customers report higher satisfaction with Bank of America, the issuer of BofA Travel Rewards, rating it 4.5 compared to Citi’s 4.1.
Other Features and Perks: Tie
The BofA Travel Rewards gives 25% to 75% more points on every purchase to Preferred Rewards® members. The Citi Diamond Preferred offers special event access through Citi Entertainment® and free FICO® Score access.
Methodology
MoneyGeek uses a tailored scoring system to review credit cards like the BofA Travel Rewards and the Citi Diamond Preferred based on various use cases. This ensures you get relevant, unbiased information to choose the card that best fits your needs.
This comparison focuses on balance transfers, considering factors like the quality of the balance transfer offer and the terms of the 0% APR on purchases.
FAQ: BofA Travel Rewards vs. Citi Diamond Preferred Card
What are the main benefits of the BofA Travel Rewards?
The BofA Travel Rewards lets you earn 1.5 points per $1 on all purchases and enjoy travel rewards with no foreign transaction fees.
How long is the 0% APR period for balance transfers with the Citi Diamond Preferred?
The Citi Diamond Preferred offers a 0% introductory APR on balance transfers for 21 months.
Does the BofA Travel Rewards charge foreign transaction fees?
The BofA Travel Rewards comes with no foreign transaction fees.
Does the Citi Diamond Preferred earn rewards?
The Citi Diamond Preferred doesn't offer rewards. However, its long 0% APR period allows you to save money with balance transfers.
Can I earn bonus points with the BofA Travel Rewards?
With the BofA Travel Rewards, you can earn 25,000 bonus points after spending $1,000 in the first 90 days. That’s a $250 statement credit for travel purchases.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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