Citi® Diamond Preferred Card

Citi® Diamond Preferred Card Review

This is a card issued by Citi®. If you're wondering whether Citi Diamond preferred card is the right card for you, read on.

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 18 months.
• Competitive APRs. Citi® Diamond Preferred Card has a variable purchase APR that ranges from 15.99% up to 25.99%.
• 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 5% on balance transfers. For example, a balance of $1,000 could cost $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, extended warranty protection on purchases, identity theft protection, purchase security, and fraud protection.
• Good or better credit required. You will have low approval odds if your credit score is below 700.

Pros & Cons of Citi Diamond preferred card

The Good

The Bad

Potentially 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 18 months. There is then a variable purchase APR that ranges from 15.99% up to 25.99%. No annual fee. Multiple credit card perks. Extended warranty on purchases. Free access to your credit score. Identity Theft Protection. Citi® Diamond Preferred Card reports to multiple credit bureaus.

You need good credit to qualify. 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

Citi Diamond preferred card FAQ

Does Citi Diamond preferred card have a cash back or rewards program?

No, it does not offer a rewards program.

What are the Citi Diamond preferred card benefits?

It provides the following benefits:

• Free Credit Score
• Emergency Support
• Extended Warranty Protection
• Zero fraud liability
• Reports to major credit bureaus

What are the relevant APRs for Citi Diamond preferred card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

Citi® Diamond Preferred Card has a variable purchase APR that ranges from 15.99% up to 25.99%. The card has a variable balance transfer APR that ranges from 14.74% up to 24.74%. It also has a variable cash advance APR of 27.49% . 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:

Citi Diamond preferred card Fees

Fees	Amount
Annual Fee	$0
Overlimit Fee	$
Initial Program Fee	$
Foreign Transaction Fee	3%
Returned Payment Fee	Starting at $ up to $41
Late Payment Fee	Starting at up to $41

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.

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

Yes, 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 may help improve your credit.

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