Citi® Diamond Preferred Card Review

Citi® Diamond Preferred Card is a credit card issued by Citibank. If you're wondering whether Citi® Diamond Preferred Card is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 21 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 12 months.
• Competitive APRs. Citi® Diamond Preferred Card has a variable purchase APR that ranges from 13.74% up to 23.74%.
• No annual fee. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
• 5% Balance transfer fee. Citi® Diamond Preferred Card charges a fee of up to 5% on balance transfers. For example, a balance of $1,000 could cost up to $50 in transfer fees. The minimum fee is $5.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
• Multiple credit card benefits. Includes generous credit card perks, such as emergency support, purchase protection, and fraud protection.
• Good or better credit required. You should probably try with another card if your credit score is below 700.

Citi® Diamond Preferred Card Pros and Cons:

The Good	The Bad
Lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 21 months. 0% APR on new purchases during the first 12 months. No annual fee. Multiple credit card perks. Free access to your credit score. Citi® Diamond Preferred Card reports to multiple credit bureaus.	Requires good to excellent credit. Does not offer a signup bonus. Does not offer rewards or cash back. Charges a foreign transaction fee of 3%. You don't earn rewards on every purchase. Charges a 5% balance transfer fee.

Is there a Citi® Diamond Preferred Card cash back or rewards program?

No, Citi® Diamond Preferred Card does not offer a rewards program.

What are the Citi® Diamond Preferred Card benefits?

Citi® Diamond Preferred Card provides the following benefits:

• Free Credit Score
• Emergency Support
• Zero fraud liability
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for Citi® Diamond Preferred Card?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Citi® Diamond Preferred Card has lower than average purchase APRs.

Citi® Diamond Preferred Card has a variable purchase APR that ranges from 13.74% up to 23.74%. The card has a variable balance transfer APR that ranges from 13.74% up to 23.74%. It also has a variable cash advance APR of 25.24% . Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for Citi® Diamond Preferred Card?

The following fees apply to Citi® Diamond Preferred Card:

Citi® Diamond Preferred Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	3%
Returned Payment Fee	up to $40
Late Payment Fee	up to $40

Does Citi® Diamond Preferred Card report your account activity to credit bureaus?

Citi® Diamond Preferred Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for Citi® Diamond Preferred Card

• Visit the Citi® Diamond Preferred Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.