While many balance transfer cards boast up to a year to 18 months of no interest, the Citi® Diamond Preferred® Card*The information for the Citi® Diamond Preferred® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is one of a small handful of balance transfer cards that offers a generous intro APR for almost two years.
When looking to pay down high-interest credit card debt, transferring that balance to a card with a 0% APR for the longest possible period can help you budget out more reasonable repayment amounts during the no-interest period and help you knock out that debt.
About the Citi Diamond Preferred Card
The Citi Diamond Preferred Card is a balance transfer card, offering a 0% intro APR for 21 months on eligible balance transfers from the date of the first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 18.24% to 28.99%. Balance transfers must be completed in the first four months. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies. Few cards can match the length of that balance transfer offer.
In exchange for the long balance transfer offer, you’ll be required to pay a fee of 5% of each balance transfer; $5 minimum So, if you were to move $5,000 from a non-Citi card to the Citi Diamond Preferred, you’ll have an additional $250 added to your transferred balance. However, even with the balance transfer fee, you could save hundreds of dollars in interest fees assessed on your old card.
Given the high APR that kicks in after the promotion expires, it would be best to create an aggressive repayment plan and avoid adding any new purchases to the card during the repayment period.
When is the Citi Diamond Preferred Card worth it?
If you are interested in finding a $0-annual-fee balance transfer card offering a long intro APR, the Citi Diamond Preferred is a solid choice. While the card also offers a 12-month intro APR on purchases, know that there are other cards offering longer intro APR purchase deals. Both the Wells Fargo Active Cash® Card and the Discover it® Cash Back have longer intro offers on purchases of 15 months, and they both also offer cash rewards on purchases. However, if you are truly committed to paying off a transferred balance, the last thing you should do is add new purchases to your balance.
When it may not be worth it for you
Once the Citi Diamond Preferred’s balance transfer deal expires, the card may quickly lose its appeal as it not only comes with a very high ongoing APR, but also because there are no noteworthy benefits or rewards to entice you to keep using it.
There are other balance transfer cards, such as the Citi Simplicity® Card*The information for the Citi Simplicity® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.. This card offers the same lengthy balance transfer offer with a lower balance transfer fee in the first four months: 0% intro balance transfer APR for 21 months from the first transfer and 0% intro purchase APR for 12 months from account opening. After that, the variable APR will be 19.24% to 29.24%. There is an intro balance transfer fee of $5 or 3% of the transfer, whichever is greater, for transfers made in the first four months. After that, a balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies.
How to maximize your Citi Diamond Preferred Card
To take full advantage of the Citi Diamond Preferred’s balance transfer offer, here are some helpful suggestions:
- Ensure your credit is good enough to qualify for the card to avoid an unnecessary hard inquiry.
- Know that you cannot transfer a balance between cards from the same issuer.
- Calculate how much you will have to pay each month to wipe that transferred balance out (don’t forget to add in the balance transfer fee) during the intro APR period.
- Do not add any new purchases to the card during your payoff period as those purchases will quickly inflate what you owe.
- Any balance remaining after the balance transfer offer expires will be subject to a high ongoing APR.
Is the Citi Diamond Preferred Card right for you?
If you’re looking to save money on interest, the Citi Diamond Preferred offers one of the longest balance transfer promotions available: 0% intro APR for 21 months on balance transfers, followed by an ongoing APR of 18.24% - 28.99% (Variable). You’ll be required to initiate the balance transfer within the first four months of having the card as well as pay a balance transfer fee of 5% of each balance transfer; $5 minimum However, the amount of money you can potentially save on interest charges can more than justify that fee.
There is no annual fee nor is there a rewards program with the Citi Diamond Preferred, and the card comes with relatively no benefits, such as travel protections or cellphone coverage, making it less valuable once the balance transfer promotion expires.
Given that the ongoing APR is very high after the balance transfer promotion expires, it’s important to pay off as much of your transferred balance as possible before interest fees start accumulating again on any unpaid balance.
Frequently asked questions (FAQs)
While Citi does not reveal the credit limit on the Citi Diamond Preferred, know that underwriters will evaluate multiple criteria when determining your credit limit, such as income, credit history and current debt levels, among other criteria.
Applicants for the Citi Diamond Preferred will need to have at least a good-to-excellent credit score for approval. According to FICO, a good credit score starts at 670*.
No, the Citi Diamond Preferred Card does not come with an airport lounge benefit.
While neither the Citi Diamond Preferred nor the U.S. Bank Visa® Platinum Card*The information for the U.S. Bank Visa® Platinum Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. offers a rewards program, both boast lengthy intro APR deals on balance transfers and carry the same balance transfer fee. The U.S. Bank Platinum offers a 0% intro APR on purchases and balance transfers for 21 billing cycles, then a variable APR of 18.74% to 29.74%. A balance transfer fee of either 5% of the amount of each transfer or $5 minimum, whichever is greater, applies.
Once the balance transfer period expires, the Citi Diamond Preferred’s ongoing APR is slightly more reasonable at 18.24% – 28.99% (Variable), compared to that on the U.S. Bank Platinum Card.
However, the U.S. Bank Platinum Card offers a lengthier intro APR period on purchases — which can come in handy when financing a large-ticket item instead of performing a balance transfer — compared to the Citi Diamond Preferred’s 12-month intro APR period on purchases.
No, the Citi Diamond Preferred card does not charge an annual fee.
*Blueprint uses credit ranges derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.
*The information for the Citi Simplicity® Card, Citi® Diamond Preferred® Card and U.S. Bank Visa® Platinum Card has been collected independently by Blueprint.The card details on this page have not been reviewed or provided by the card issuer.
