Citi® Diamond Preferred® Review: Maximum Flexibility for Credit Card Debt

If you’re focused on paying down your credit card debt, the Citi® Diamond Preferred® is a standout choice. It offers one of the longest 0% intro APR periods for balance transfers at 21 months, giving you maximum flexibility. It’s a no-annual-fee card that also comes with a 12-month no-interest period for new purchases. However, it lacks features like cash back or a signup bonus.

The Citi® Diamond Preferred® card stands out with its 21-month, 0% intro APR on balance transfers, one of the longest we've seen. This makes it a great choice for those looking to reduce or eliminate credit card debt, allowing for longer, interest-free repayments and lower monthly payments.

The card also has no annual fee and offers a 0% intro APR on new purchases for 12 months. These features provide a cushion for those needing time to regain their financial footing, enabling you to pay only the minimums on existing balances and new purchases for a year.

However, the card's main strength is also its weakness — it's focused on debt management and lacks features you'd want in a credit card if you pay off your balance each month. If you prefer to earn cash back and are willing to deal with a shorter no-interest period, several alternatives are available. However, if you're focused on debt management, you'd be hard-pressed to find a card offering better flexibility than the Citi® Diamond Preferred®.

>> MORE: MoneyGeek's Best Balance Transfer Credit Cards

The Citi® Diamond Preferred®’s balance transfer offer is one of the best. This card is hard to beat if you’re focused on debt elimination.

Extended 0% APR on Balance Transfers: With a 0% APR for 21 months on balance transfers, the Diamond Preferred offers one of the longest interest-free periods available. It’s a top pick if you’re consolidating debt from non-Citi cards.

No Annual Fee: You can enjoy this card's perks without worrying about paying an annual fee.

Introductory 0% APR on Purchases: The card offers a 0% APR for 12 months on purchases, letting you spend without immediate interest. Combined with the long intro APR on balance transfers, you can pay only minimums without interest fees. While not ideal for debt management, it's helpful if you need more time to pay off your purchases.

Before you decide on the Citi® Diamond Preferred®, consider the potential drawbacks that might come with this card.

No Rewards Program: This card does not offer any form of rewards, which means you won't earn cash back, points or miles on your purchases. If you want to earn rewards on your spending, you might consider a card like the Capital One Quicksilver Cash Rewards, which offers a cash back program and a 0% intro APR period on balance transfers.

No Intro Balance Transfer Fee: This card charges a balance transfer fee of $5 or 5% of the amount of each transfer, whichever is greater. If you're transferring a large balance, this fee can add up, so you may want to look for a card with a lower cost. The Discover it® Balance Transfer can be an alternative, providing a 3% balance transfer fee for the first three months.

Learning the best ways to use your Citi® Diamond Preferred® Card can help you get the most out of your balance transfer card.

When it comes to debt consolidation, the Citi® Diamond Preferred® is a top-notch choice. Nonetheless, we compare it with similar cards to help you decide if it’s right for you.

Pairing a balance transfer card with an exceptional cash back card can help you maximize the best of both worlds. We systematically weighed the options and found the best pick for complementing the Citi® Diamond Preferred® Card.

The Citi® Diamond Preferred® Card is an excellent choice for consolidating credit card debt from non-Citi cards. With an unrivaled 21-month 0% intro APR period on balance transfers and a 12-month no-interest period on purchases, it's designed for those committed to paying down their balances without the added pressure of accruing interest.

However, if you want to earn cash back while paying down your debt, several cards could better align with your goals.

Our evaluation of the Citi® Diamond Preferred® Card considered several key features, reflecting its strengths and limitations. With a total of 39 cards reviewed, we applied the following weights to determine its Balance Transfer Score, which is a 4.09 out of 5:

• Balance Transfer Offer: 50% (A top rating indicates a superior balance transfer option)
• Regular APR: 15% (Lower rates receive higher scores)
• Intro Purchase: 15% (The longer the 0% APR period, the better the score)
• Issuer Satisfaction: 5% (Reflects customer satisfaction with the card issuer)
• Penalties: 5% (Fewer and lower fees contribute to a higher score)
• Recommended Credit: 5% (Accessibility to a broader range of credit scores improves the rating)
• Effective Reward Rate: 5% (A higher rate indicates a more rewarding card, despite this card scoring low due to no rewards program)

By methodically comparing this card to other balance transfer cards on the market, we can make informed recommendations to help you find the best match for your finances.