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Citi® Diamond Preferred® Card Review – 0% APR for 21 Months




At a Glance
citi diamond preferred credit card
4.3 / 5

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Citi® Diamond Preferred® Card

  • Sign-Up Bonus: None
  • Rewards: None
  • Intro APR: 0% APR on balance transfers for 21 months from account opening; 0% APR on purchases for 12 months from account opening
  • Fees: 3% foreign transaction fee
  • Annual Fee: $0
  • Credit Needed: Good/Excellent

Advertiser Disclosure: This post includes references to offers from our partners. We receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.

The Citi® Diamond Preferred® Card is a straightforward credit card with no annual fee and a great 0% introductory balance transfer APR promotion and a solid introductory promotion for purchases.

Although it doesn’t offer a sign-up bonus, cash rewards program, or very low APR once the introductory period ends, Citi Diamond Preferred is one of the best options out there for new cardholders who wish to transfer existing high-interest balances from other cards or make large upfront purchases which they can pay off over time without racking up excessive interest charges.

Plus, Diamond Preferred has some cardholder-friendly perks and personalized touches that aren’t available on other no-frills cards.

Key Features

Sign-up Bonus

There is no sign-up bonus for this card.

Introductory APR

This card has an 21-month 0% APR promotion for balance transfers. Qualifying balance transfers must be made within 4 months of your account opening date.

Purchases qualify for 0% APR for 12 months from account opening. Bear in mind that purchases begin accruing interest after the end of this introductory period, even if you choose to transfer a balance under the 0% APR balance transfer promotion.

Following the end of the introductory periods, variable regular APR applies.

Important Fees

There is no annual fee. The foreign transaction fee is 3% of the transaction amount. Balance transfers cost the greater of $5 or 5% of the transferred amount.

Personal Concierge Service

Citi Diamond Preferred has a special level of concierge service that’s available only to Diamond Preferred cardholders. Basically, this is a personalized portal with shorter lines (and more knowledgeable, less overworked personnel) than Citi’s regular service department. There’s a dedicated 800 number and website just for Diamond Preferred members.

Free FICO Score

All Diamond Preferred cardholders are entitled to a complimentary FICO score online. That’s great news for those in the process of building or rebuilding credit.

Credit Required

This card requires good to excellent credit. A few minor blemishes may not disqualify your application, but serious derogatory marks will.


  1. Great Intro APR Promotion for Balance Transfers. Citi Diamond Preferred’s introductory balance transfer promotion is among the longest in the business. Few other cards combine such a long introductory APR with such generous cardholder perks.
  2. No Annual Fee. Citi Diamond Preferred doesn’t have an annual fee. That’s great news for budget-conscious cardholders who want to take advantage of the introductory APR promotions and don’t want to cut into the savings they produce.
  3. Personalized Concierge Service. This card comes with a dedicated concierge portal that’s available only to Diamond Preferred cardholders. That’s a rare benefit for no-annual-fee cards – you typically have to shell out annual fees approaching $100 (and sometimes much higher) to get high-touch, personalized service of this nature.
  4. Low Balance Transfer Fee. Citi Diamond Preferred has a fairly low balance transfer fee: the greater of $5 or 5% of the transferred amount. That’s low relative to some competitors, which can charge a minimum of $10 on smaller transfers.


  1. No Rewards. Citi Diamond Preferred doesn’t offer cash back or travel rewards. For applicants seeking a top-notch 0% introductory APR promotion for balance transfers, this is unlikely to be a major hurdle. However, applicants who value rewards and great interest rates in equal measure are likely to think twice before applying for this card. For these folks, the American Express Blue Cash Everyday Card or Chase Freedom Card are probably better fits.
  2. No Sign-up Bonus. Citi Diamond Preferred lacks a sign-up bonus. That’s a big downside relative to competing cards with solid intro APR promotions.
  3. Has a Foreign Transaction Fee. Citi Diamond Preferred’s 3% foreign transaction fee is a big downside for foreign travelers, particularly those who leave the United States frequently. If this is a big issue for you, consider competitors such as Capital One Quicksilver and Discover it.
  4. Has a Penalty APR. This card charges penalty interest on past-due balances. This is a drawback for cardholders who occasionally miss payments – particularly in light of the fact that Citi Simplicity, its stablemate, doesn’t charge penalty interest.

Final Word

For a no-annual-fee card, the Citi® Diamond Preferred® Card is pretty exclusive. Unlike some competing cards, it holds applicants to high credit standards.

There’s a method to Citi’s madness though. This is one of the few no-annual-fee cards with on-demand concierge service – a huge benefit when you need immediate help. And that’s not even the best thing about Citi Diamond Preferred. This card’s long 0% APR balance transfer promotion is among the best in the business, and its purchase promotion isn’t bad either.

If you seek awesome service and the ability to finance big purchase or transfer high-interest balances without breaking the bank, you’d be hard-pressed to do better.

citi diamond preferred credit card
4.3 / 5

Learn More

Citi® Diamond Preferred® Card

The Citi® Diamond Preferred® Card is an excellent option if you need to transfer high-interest balances from existing cards or  finance large purchases during the first few months of card ownership – that is, as long as you can pay down your purchases or transfers before the introductory APR period expires.

Diamond Preferred is also a great option for cardholders who appreciate luxury perks and value-added benefits, but don’t want to pay an annual fee for the privilege. However, Diamond Preferred is not a good option for people who have less than excellent credit, nor those who appreciate cash back or travel rewards.

This card’s excellent 0% APR balance transfer promotion, solid purchase promotion, super-personalized concierge service, additional benefits, low balance transfer fee, and lack of an annual fee are all great.

Its restrictive credit requirements, foreign transaction fee, penalty APR, and lack of a sign-up bonus or rewards count against it.

Overall, Diamond Preferred is a great card for financing large purchases, transferring high-interest balances, and getting great service.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Brian Martucci
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.

Comments Disclosure: The below responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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