Citi® Diamond Preferred® Credit Card Review

Citi® Diamond Preferred® Card Learn more

Whether you’re considering a balance transfer to pay down debt or want to spread out payments on a large purchase you’ve been planning to make, the Citi® Diamond Preferred® Card is one of the best options on the market for you. By signing up, you’ll get 0% for 21 months then an ongoing 13.74% - 23.74% variable, which is the longest introductory 0% APR period currently available across all card brands.

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As an added bonus, you’ll get access to Citi® Identity Theft Solutions, Citi® Private Pass® VIP concierge services, and travel and emergency assistance, along with an array of other perks that boost the value of this offer. Best of all, the Citi® Diamond Preferred® Card comes with no annual fee.

The Simple Dollar’s Key Takeaways

  • Enjoy 0% for 12 months intro APR on balance transfers and purchases for the first . That’s the longest introductory 0% APR offer on the market, and plenty of time to pay down debt and save money on interest (then ongoing 13.74% - 23.74% variable APR).
  • No annual fee. Since you won’t be charged an annual fee, you can keep this card for the long haul.
  • Score amazing travel perks. In addition to free travel and emergency service, this card comes with trip cancellation and interruption insurance, worldwide travel accident insurance, worldwide rental car coverage, and Citi® Private Pass® VIP concierge services.

Citi® Diamond Preferred® Card


  • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 13.74% – 23.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
  • Shop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi® Identity Theft Solutions.
  • The standard variable APR for Citi Flex Plan is 13.74% – 23.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.

Review: The Perfect Card for Balance Transfers and Big Purchases

If you’re carrying high interest debt, the Citi® Diamond Preferred® Card offers the longest 0% APR introductory offer in the business. With this card, you’ll have a full 0% for 21 months to pay down your debts at 0% interest. Depending on how much you owe – and what your interest rate is – that could lead to hundreds or even thousands of dollars in saved interest over the course of 0% for 21 months.

Let’s say you’re making the minimum payment on $10,000 in credit card debt at 18% APR — roughly $250 a month (interest + 1% of your balance). If you don’t add to your balance, it will still take you more than five years to become debt-free at that rate. And in the meantime, you will pay $15,386 in interest. Ouch!

By transferring that same balance to the Citi® Diamond Preferred® Card, you’ll get an intro APR of 0% for 21 months. You will, however, need to pay a 3% balance transfer fee to secure the transaction and your new card.

Still, the Citi® Diamond Preferred® Card isn’t just for balance transfers. Since the 0% intro APR offer extends to purchases as well, this is the perfect card to use as a short-term loan. If you wanted to buy new appliances or furniture, for example, but wanted to pay down your purchases over time, this card is an excellent option. Best of all, there are no fees involved when you use this card to secure an intro APR on purchases for 0% for 21 months then an ongoing 13.74% - 23.74% variable.

Citi® Diamond Preferred® Card: Where It Falls Flat

While this card offers the longest 0% intro APR offer in the business, it does charge a balance transfer fee. That makes it a slightly less attractive offer for people who are fee-averse, and would rather avoid the charge.

Another point of contention with some is that this card doesn’t offer rewards. If you were hoping to use your card to earn cash back, gift cards, or travel rewards, the Citi® Diamond Preferred® Card isn’t the way to go.

Who This Card Is Good For:

  • Anyone who wants to transfer high-interest debt
  • Someone who doesn’t want to pay an annual fee
  • Someone who wants an APR of 0% for 21 months to make a large purchase

Who Should Pass:

  • Anyone who doesn’t want to pay a balance transfer fee
  • Someone who wants to earn credit card rewards
  • People who aren’t in debt and would be better off with a rewards credit card

How Does It Compare to Other 0% Intro APR Cards?

To see how the Citi® Diamond Preferred® Card stacks up to its competition, we compared it to the Chase Slate® card. In the following chart, you can see how each card’s benefits compare.

As you can see, both cards offer long 0% intro APR offers with no annual fee. The biggest difference is in the balance transfer fee – and the length of the introductory offer. Where the Citi card offers a full 0% for 21 months but charges a balance transfer fee, the Chase card offers only 15 months at 0% intro APR but waives the balance transfer fee for the first 60 days of account opening. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5.

Both offers are excellent, but the right one for you depends on your needs. If you need the full 0% for 21 months to pay down debt, you might be better off paying the balance transfer fee and going with the Citi® Diamond Preferred® Card. On the flip side, you will likely be better off with the Chase Slate® if you only need 15 months to pay down your debt.

If you plan to use your new card’s 0% offer for a large purchase, the Citi® Diamond Preferred® Card is the clear winner. You’ll have a full 0% for 21 months with this offer, and there are no fees required to take advantage.

Please note: The Chase Slate® offer is currently unavailable through this site.

Best Strategy with the Citi® Diamond Preferred® Card: Pay Down Your Debt with 0% for 21 months

If you truly want to become debt-free and plan to use a balance transfer to make it happen, the Citi® Diamond Preferred® Card can be a valuable tool. Simply transfer all of your high-interest balances to your new card right away, then create a plan of attack that will annihilate them within the first 0% for 21 months.

The best way to do this is to figure out your total debt and divide it by 18 months, then look for areas in your budget to cut so you can afford to make a larger monthly payment. If you’ve been paying less each month toward your debts until now, find a way to boost your payment. Check out our post How to Create a Bare Bones Budget for ideas on freeing up some extra cash in your budget. And remember: This whole plan hinges on you not adding to your balance.

Want to Earn Rewards? Consider This Card Instead

If you want a 0% intro APR card that also doles out rewards, you can also consider the Chase Freedom® card. With this card, you’ll earn cash back.

In addition to 1% cash back on every dollar you spend, the Chase Freedom® card offers 5% back on the first $1,500 you spend in categories that rotate every quarter. Once you start racking up the points, you can redeem them for statement credit or gift cards, or use them to shop directly with

If you just want to use your card to score 0% intro APR on a large purchase, however, the Chase Freedom® card is ideal. Not only will you get 0% intro APR for 15 months with no fees, but you’ll earn rewards – and even a signup bonus – on your purchases as well.

Please Note: Information about the Chase Freedom® has been collected independently by The issuer did not provide the details, nor is it responsible for their accuracy.

Editorial Note: Compensation does not influence our recommendations. However, we may earn a commission on sales from the companies featured in this post. To view our disclosures, click here. Opinions expressed here are the author’s alone, and have not been reviewed, approved or otherwise endorsed by our advertisers. Reasonable efforts are made to present accurate info, however all information is presented without warranty. Consult our advertiser’s page for terms & conditions.

Holly Johnson

Contributing Writer

Holly Johnson is a frugality expert and award-winning writer who is obsessed with personal finance and getting the most out of life. A lifelong resident of Indiana, she enjoys gardening, reading, and traveling the world with her husband and two children. In addition to The Simple Dollar, Holly writes for well-known publications such as U.S. News & World Report Travel, PolicyGenius, Travel Pulse, and Frugal Travel Guy. Holly also owns Club Thrifty.