The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

In this Citi® Diamond Preferred® Card review, we evaluate the features and benefits of the card. The biggest perk of this card is the introductory 0% APR offer. This basically means that you pay nothing in interest during the first 12 months of having the card. The 0% APR is valid for both new spending and balance transfers, making it a great card if you want to consolidate debt. There is no annual fee. However, there is no rewards program with this card.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Has Rewarding Welcome Offer
  • Recommended Credit
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

Citi® Diamond Preferred® Card at a Glance

If you are looking for a balance transfer card to consolidate debt or finance new purchases, the Citi® Diamond Preferred® Card’s benefits are appealing. With no annual fee, the long introductory 0% APR offer makes this card one of the best options for people who carry a balance on their card.

  • Citi® Diamond Preferred® Card

    Best balance transfer card for immediate transfers

    • ExcellentRecommended Credit
    • 0% Intro APR on new purchasesAPR Offer
    • 12 monthsAPR Offer Duration
    • 0% Intro APR, then 17.99% – 28.74% Variable APR thereafterBalance Transfer Offer
    • 17.99% – 28.74% VariableAPR

Pros & Cons Explained

While the Citi Diamond Preferred card is a great value balance transfer card, it is important for you to fully understand its pros and cons before you apply for it.


  • Benefits
  • Long 0% APR introductory offer
    While other cards also have introductory 0% APR offers, the Citi Diamond Preferred offers a very long 0% APR introductory period of 21 months. This makes it a good choice for debt consolidation and a prime option for interest-averse customers looking to finance new purchases.
  • No annual fee
    With no annual fee, you do not have to worry about annual spending to keep the card account.
  • Citi offers
    Many perks come bundled with the card. You can borrow money against your card using the Citi Flex loan scheme, access live events and VIP experiences with the Citi Entertainment program and save on regular purchases with Citi Easy Deals.


  • Drawbacks
  • No rewards
    Many customers prefer credit cards with a reward points program. With the Citi Diamond Preferred, there are no reward points of any kind.
  • Late fees
    While some other cards forego late fees, the Citi Diamond Preferred card has late fees that you have to pay if you don’t pay your bills on time.
  • Balance transfer fees
    While this is essentially a balance transfer card, you will have to pay a balance transfer fee.
  • Foreign transaction fees
    There is a fee for foreign transactions, so this card is not ideal for frequent international use.
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The MoneyGeek team analyzes data of each credit card monthly and chooses top picks for popular card categories. Check out our top picks for balance transfer cards in 2022.

Other Features Explained

In addition to the low introductory APR and lack of an annual fee, here are some of the other key features of the Citi® Diamond Preferred® Card:

  • Card Feature
  • FICO score access
    Card users can access their FICO score through their online card account to stay up to date on their credit score.
  • Citi Easy Deals
    With this program, you earn points according to 10% of your monthly spends and you can have access to special entertainment and dining experience through Citi Entertainment.
  • Citi Identity Theft Solutions
    Citi will help keep your identity safe by resolving identity theft issues quickly to help you get your life back on track.
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"For optimal use, you can transfer your balance to this card account in the first 120 days of use and ensure that you pay the minimum due amount each month to avoid any impact on your credit score. This gives you a long time where you can finance new purchases or consolidate debt without worrying about interest payments." - Alene Laney, Credit Card Journalist

Understanding the Fine Print

Before applying for any credit card, it’s important you understand the fine print so that you are not caught off guard by fees or terms.

  • Card Feature
    Amount or Rate
  • APR
    17.99% – 28.74% Variable
  • Annual Fee
  • Balance Transfer Fee
    $5 or 5%, whichever is greater
  • Balance Transfer APR
    17.99% – 28.74% Variable
  • Late Fees
    Up to $41
  • fairCredit icon

    Regular APR

    The card comes with a generous 12 months of 0% APR. Once this period lapses, there is a variable APR of 17.99% – 28.74% based on your credit standing. The same applies to balance transfers.

  • annualFee icon

    Annual Fee

    There is no annual fee for the Citi® Diamond Preferred® Card.

  • noForeignTransactionFee icon

    Foreign Transaction Fees

    There is a foreign transaction fee of 3% of each transaction on this card.

  • balanceTransfer icon

    Balance Transfer and Cash Advance Fees

    For balance transfers, there is a fee of 5% of each transfer with a $5 minimum fee. For cash advances, there is a 5% fee for every transaction with a minimum of $10.

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If you compare the Citi Diamond Preferred card with other balance transfer cards, take a look at the balance transfer fees and the length of the introductory 0% APR period for the best deal. If you want to compare with a card you already use, take a look at your billing statement or visit the website or mobile app of the card issuer. You can also find information through the credit card agreement database maintained by the Consumer Financial Protection Bureau (CFPB).

Who Should & Shouldn’t Consider Citi® Diamond Preferred® Card?


Other Considerations for Citi® Diamond Preferred® Card

Whether the Citi Diamond Preferred card is a good fit for you depends on how you plan to use it and whether you plan to use it as your first or only credit card or in addition to other cards you already use.

Things to Consider if This Will Be Your First or Only Credit Card

If you are getting this card as your first or only card, make sure that you work out if the benefits outweigh the costs. For example, be aware of the absence of reward points and monitor your spending to see if you can benefit from the Citi offers that come bundled with the card. Budget wisely for the introductory period so that your interest burden does not rise remarkably once the 0% APR offer ends.

Things to Consider if This Will Be an Additional Card in Your Wallet

If this is an additional card in your wallet, you might want to use it to transfer a high-interest balance from other existing cards to consolidate your debt. In this case, see if the interest savings outweigh the costs resulting from balance transfer fees in your case. Once again, you need to budget wisely and plan for the long-term so that you remain financially comfortable once the 0% APR offer ends.

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MoneyGeek has a defined and meticulous review process for credit cards. We collect information from the Consumer Finance Protection Bureau database, standardize data points for fair comparison, estimate average spend profiles, determine long-term value and frequently re-rank our top cards.

How Citi® Diamond Preferred® Card Compares to Other Cards

The Citi® Diamond Preferred® Card is a great choice if you are looking for a balance transfer card with a long 0% APR introductory offer. However, there are other cards that might make more sense for you in terms of other fees and costs.

In-Depth Credit Card Comparisons:
Quick Comparison of Citi® Diamond Preferred® Card

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Citi® Diamond Preferred® Card

  • Introductory 0% APR: 21 months, then a variable APR of 17.99% – 28.74%
  • Regular APR: 17.49% – 28.24% variable
  • Annual Fee: $0
  • Balance Transfer Fee: 5% of the transfer, $5 minimum
  • Best For: Those looking for Citi offers
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Wells Fargo Platinum

  • Introductory 0% APR: 18 months
  • Regular APR: 16.49%–24.49%
  • Annual Fee: $0
  • Balance Transfer Fee: 3% for first 120 days, 5% thereafter with $5 minimum
  • Best For: Those looking for free cell-phone insurance and budgeting tools

Other Helpful Decision-Making Q&As

Here are some commonly asked questions about the Citi® Diamond Preferred® Card that can help you decide whether or not you should apply for it.

Still not sure about this card? Consider these options.

If you are not sure about the Citi® Diamond Preferred® Card, you can check out our top picks for balance transfer cards for other options. If you do not want a balance transfer card, take a look at rewards cards or travel cards.

Learn more about credit cards in general

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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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