The Citi Diamond Preferred Card gives cardholders ample time to repay debt without accruing interest charges, yet has a high balance transfer fee and limited insurance and purchase protection coverages.
If your aim is to avoid interest on existing credit card debt or finance future expenses, this card may be well worth its annual fee. Otherwise, consider cards offering better sign-up bonuses and rewards.
0% intro APR on balance transfers for 21 months
If you’re struggling with credit card debt or financing a large purchase, Citi Diamond Preferred Card could help save on interest charges. Offering an introductory period of 21 months without interest on balance transfers could help accelerate repayment and potentially save hundreds or even thousands in interest charges. Plus, with no annual fee and access to Citi Entertainment (with special events and ticket discounts) your debt could be paid down faster and interest charges reduced significantly.
Though its key advantage may be its 0% intro APR on balance transfers, this credit card may not suit every consumer. If you prefer rewards or travel perks over no interest charges and reduced credit card debt payments, then this card might not be right. Instead, it is designed for people seeking a non-interest bearing solution when financing large purchases such as home renovation projects.
This card is also an ideal solution if you have existing high-interest debt to clear, with its long 0% APR offer on transfers saving thousands in interest costs and giving more time for debt reduction. Be sure to plan out a repayment strategy carefully so you can maximize the 0% intro APR offer!
Another advantage of this card is that it does not charge a foreign transaction fee, which can save you hundreds or even thousands of dollars when making international purchases. Unfortunately, however, this card comes with a 3% late payment penalty and minimum interest rate of 27% that may hinder its usage.
Overall, the Citi Diamond Preferred Card is an outstanding solution for those struggling with credit card debt and looking to postpone paying interest for over two years. If you can successfully manage expenses and payments on this card, it could help ease stress while simultaneously improving your credit score. However, keep in mind that its effectiveness depends on being able to pay off debt before its 0% APR period ends; otherwise you may pay high rates of interest that make debt management even harder.
5% fee on balance transfers
The Citi Diamond Preferred Card boasts one of the longest 0% APR periods for balance transfers available today, making it an ideal card for anyone hoping to escape credit card debt. Unfortunately, though, its high balance transfer fee of 5% (minimum $5) does not offer any rewards programs that could offset this cost over time.
If you have an outstanding credit card balance that requires monthly interest payments, transferring it to a card with an extended 0% introductory APR period could save hundreds or even thousands in interest charges. Although the 5% balance transfer fee on this card (applicable only within four months of opening an account) may seem higher than other similar offers, using our balance transfer calculator may reveal whether another card might provide better value depending on your spending habits and lifestyle needs.
Citi Diamond Preferred Card stands out with its long 0% intro APR on balance transfers and other valuable features, including no foreign transaction fees to save you money when traveling abroad and 24/7 concierge service to make travel arrangements, purchase tickets and book restaurant reservations – something many might take for granted but can be invaluable if they make frequent purchases abroad.
Though the Citi Diamond Preferred Card offers many attractive benefits, it may not be best suited for every person. If you prefer rewards and perks over cost, consider another card with an attractive sign-up bonus and annual fee that are more economical. Furthermore, if you plan to carry large balances for over 12 months at once then perhaps another credit card with longer 0% intro APR periods than 21 months might provide greater debt-relief options than others do.
No annual fee
Citi Diamond Preferred Card does not charge an annual fee, making this card an attractive choice for many credit card users. That freed money allows more of your monthly budget to go toward debt relief and building credit without incurring annual fees; plus it means less worry over how quickly balances accumulate!
But this card lacks many of the perks often found on other cards; for instance, there are no rewards or perks like travel protection plans and insurance coverages offered here. Furthermore, its 3% foreign transaction fee could prove prohibitive for some cardholders.
Balance Transfer APR of 0% provides a great benefit for those trying to consolidate debt or finance large purchases with little-to-no annual fees, and offers generous 0% intro APR rates on balance transfers as well. In addition, their generous intro APR on new purchases could prove helpful when purchasing large ticket items or undertaking home improvement projects.
However, it is essential to remember that this card carries a high balance transfer fee of 5%; while not as high as some other balance transfer credit cards on the market today, this should still be taken into consideration when considering this option.
Are You Wondering If the Citi Diamond Preferred Is Worth it? Ultimately, that decision depends on your goals. If consolidating debt and deferring interest for 21 months are your main priorities, this card may be suitable. However, if your primary aim is rewards or financing future purchases instead, another card might be more suitable.
Citi’s unrivaled 0% intro APR period on balance transfers may make this card worth their while for those struggling with debt, or those looking to avoid interest charges on new purchases – plus cardholders can take advantage of exclusive concert and event perks through Citi Entertainment!
Limited insurance coverages and purchase protections
Credit cards provide many attractive features and benefits, from rewards programs and credit-building features to interest-free periods on balance transfers and purchases. Citi’s Diamond Preferred card stands out among others by offering access to exclusive events and ticket opportunities through Citi Entertainment; although these perks don’t justify picking this particular card over others on the market.
This card comes equipped with some limited purchase protections, such as extended warranty and damage and theft coverage that pays to repair or replace certain items up to 120 days post purchase or delivery of an item. Furthermore, virtual account number technology prevents thieves from using false identities to gain access to your credit card data; additionally it comes with no fraud liability limit.
This card may not offer many travel perks, but it does come equipped with some essential travel protections that could come in handy while travelling abroad. These protections include worldwide travel accident insurance and rental car collision damage waivers as well as trip cancellation/interruption insurance and EMV chip technology features that may come in handy during your adventure abroad.
Like other Citi cards, the Diamond Preferred card provides access to a concierge service for restaurant reservations and travel arrangements as well as discounts and local offers such as movie tickets or concerts. Furthermore, special discounts may be available through local merchants and offers such as free movie screenings are made available to cardholders.
Notably, this card may not be ideal for novice and young adults due to its lack of rewards programs; however, it does provide a long 0% transfer period and doesn’t charge an annual fee.
This card is ideal for those seeking to transfer balances and start repaying debt, with its decent credit limit and easy qualification process. Plus, its long 0% balance transfer period offers one of the lowest interest rates seen elsewhere – making this card an attractive option when looking to manage their finances effectively without incurring high rates on other cards.