
- Introductory balance transfer rate:0% for 21 months on Balance Transfers
- Annual fee:$0
- Regular APR:17.24% – 27.99% (Variable)
- Recommended credit score:670-850 (Good to Excellent)
NextAdvisor’s Take
- Intro APR on balance transfers
- No annual fee
- 5% balance transfer fee ($5 minimum)
- High variable APR after the introductory period ends
- No rewards and few cardholder benefits
- Penalty APR up to 29.99% variable
Additional Card Details
- 0% intro APR on balance transfers for 21 months from date of first transfer (17.24% – 27.99%, variable APR thereafter)
- Balances must be transferred within 4 months of account opening
- 0% intro APR on new purchases for 12 months from account opening (17.24% – 27.99%, variable APR thereafter)
- 3% balance transfer fee (or $5, whichever is higher)
- Qualify for Citi Entertainment benefits
- Choose your payment due date
Citi Diamond Preferred Card Full Review
Card Type
Citi Diamond Preferred is a balance transfer credit card, best for paying down existing debt.
Annual Fee
The Citi Diamond Preferred Card has no annual fee.
Introductory Offer
This card has an introductory APR for purchases and balance transfers. You’ll get a 0% introductory APR on new purchases for 12 months from the date of account opening. There’s also an 0% introductory APR on balance transfers for 21 months from account opening, with a variable APR of 17.24% to 27.99% thereafter. Balance transfers must be completed within 4 months from account opening.
Rewards
This card has no rewards structure, and is a tool for debt payoff.
Fees
This card offers an introductory 0% APR on balance transfers for 21 months and 0% intro APR for 12 months on purchases. The ongoing variable APR is 17.24% to 27.99%. When you make a balance transfer, you’ll also pay a 5% ($5 minimum) fee on the total balance.
The card also charges 3% foreign transaction fees, and you may incur a penalty APR up to 29.99% for late or returned payments.
Benefits of the Citi Diamond Preferred Card
This card can be a good tool for debt payoff, but not much else. The balance transfer period is one of the longest available today, which makes it a good choice if you need more time to wrangle a lingering balance. Other benefits include access to Citi Entertainment and you can choose your payment due date.
Drawbacks of the Citi Diamond Preferred Card
The Citi Diamond Preferred Card is a solid choice for a balance transfer card, but there is no additional rewards structure. Plus, you’ll pay a 5% ($5 minimum) fee to transfer, but there are other options with lower balance transfer fees. If you need a debt payoff tool, this card can be a solid choice, but does not provide any additional value.
If you’re looking for a card that offers more value long-term after you pay down your debt, consider a card like Citi® Double Cash Card, which has an 18-month intro period on balance transfers (18.24% – 28.24% variable APR thereafter), but also earns up to 2% cash back on every purchase you make, 1% cash back when you buy, plus 1% cash back as you pay for those purchases.
How to Use the Citi Diamond Preferred
Balance Transfer for Debt Consolidation
The Citi Diamond Preferred is a good option for someone who has considerable debt to consolidate. In that case, start with a plan in mind to maximize the benefits of this card. Take stock of all the debts you’ll consolidate to your new Citi Diamond Preferred. Once you do a balance transfer and add in the 5% balance transfer fee (minimum $5), make sure you pay as much as you possibly can toward your debts each month.
While you’re in the midst of debt payoff, you’ll also want to avoid one common mistake — racking up more balances. As you work to pay off your balance, avoid using your new card for new purchases. If you charge purchases to other cards during this time, make sure you can pay them off when your statement is due; otherwise, stick to cash or debit to avoid more debt.
You should also make sure to request your balance transfer quickly after approval (you must complete the transfer within 4 months of account opening to qualify). After all, you’ll only get 0% intro APR for 21 months, and you want to make that time count.
Let’s say, for example, you have a card with a current balance of $5,700 and a 16% APR (based on national averages). Here’s how much you can save with a balance transfer using the Citi Diamond Preferred versus continuing to make minimum monthly payments (calculated at 5% of your total balance) on the current card:
Current Card Payoff (Minimum Monthly Payment) | Citi Diamond Preferred (Paid in Full Within Intro Period) | |
---|---|---|
Starting Balance | $5,700 | $5,700 |
Monthly Payment | $171 (adjust as principal decreases) | $279.57 |
Time to Pay Off | 189 months | 21 months |
Interest + Fees | $4,325.56 | $171 |
Amount Paid in Full | $10,025.56 | $5,871 |
Plan to Pay off Debt
If you’re planning to use the Citi Diamond Preferred for its 0% intro interest offer on new purchases, it’s still important to have a plan. Whether you’re replacing an HVAC system or buying new living room furniture, this card can be a helpful tool for spreading that cost out over 12 months. Make your purchase soon after approval so you can take full advantage of that intro period, and determine how much you’ll have to pay each month to pay the purchase in full before regular interest (17.24% to 27.99% variable APR) kicks in.
And no matter how you use the intro offer, always pay at least the minimum payments on time each month. Late payments can trigger a variable penalty APR of up to 29.99% and eliminate your intro offer.
Citi Diamond Preferred Compared to Other Cards

Citi® Diamond Preferred® Card
- Introductory balance transfer rate:0% for 21 months on Balance Transfers
- Annual fee:$0
- Regular APR:17.24% – 27.99% (Variable)
- Recommended credit:670-850 (Good to Excellent)
- Learn more At our partner’s secure site

U.S. Bank Visa® Platinum Card
- Introductory balance transfer rate:0% intro APR for 18 billing cycles on balance transfers
- Annual fee:$0
- Regular APR:18.74% – 28.74% (Variable)
- Recommended credit:670-850 (Good to Excellent)
- Learn more At our partner’s secure site

Citi Simplicity® Card
- Introductory balance transfer rate:0% for 21 months on Balance Transfers
- Annual fee:$0
- Regular APR:18.24% – 28.99% (Variable)
- Recommended credit:670-850 (Good to Excellent)
- Learn more At our partner’s secure site
All information about the U.S. Bank Visa Platinum Card has been collected independently by NextAdvisor and has not been reviewed by the issuer.
Is The Citi Diamond Preferred Card Right for You?
With hardly any cardholder perks, the Citi Diamond Preferred isn’t the flashiest card offer. But it’s a useful tool if you have a lot of high-interest debt to consolidate or you could use some additional time to pay off an upcoming purchase interest-free.
With a 0% introductory offer lasting 21 months on balance transfers (17.24% to 27.99% variable APR thereafter), it’s one of the longest offers on the market. But it’s not the cheapest: consolidating debt will cost a fee equal to 5% of your transferred balance (minimum $5). While that cost is normal for the industry, there are offers available with lower or no balance transfer fees.
But for a simple, no-frills debt payoff tool, Citi Diamond Preferred is a solid option.
Bottom Line
Editorial Independence
As with all of our credit card reviews, our analysis is not influenced by any partnerships or advertising relationships.
The Citi Diamond Preferred is a solid tool for eliminating your credit card debt or paying down large purchases over time. But don’t look to score any rewards or other ongoing benefits since — let’s face it — this card doesn’t really have any. Before applying, explore other balance transfer offers available today, including cards that extend 0% APR for a longer timeline or forgo the balance transfer fee.
Frequently Asked Questions
Is the Citi Diamond Preferred Card good?
The Citi Diamond Preferred Credit Card is a solid option for consumers who want to consolidate debt. However, there are other balance transfer credit cards to consider, including ones with benefits and perks that you can continue using once your debts are paid.
Is Citi Diamond Preferred Card hard to get?
The Citi Diamond Preferred Card is geared to consumers with good to excellent credit. You have the best chances at approval if you have a FICO score of at least 670.
What is the credit limit on a Citi Diamond Preferred Card?
Your credit limit will depend on your credit score, your income and other factors. You won’t know the credit limit you’re approved for with the Citi Diamond Preferred until you apply.
Does the Citi Diamond Preferred Card offer rewards?
The Citi Diamond Preferred Card doesn’t offer any rewards. However, there are plenty of rewards cards that do offer 0% APR on balance transfers or purchases for a limited time period.