Citi Diamond Preferred Card Review (0% APR until 2023)

Snapshot

• 0% APR: Get 0% Intro APR for 21 months on balance transfers and 12 months on purchases.
• Balance transfers must be completed within 4 months of account opening.
• There is a fee of either $5 or 3% of the amount of each transfer, whichever is greater.
• No Annual Fee

Editorial Review

The Citi Diamond Preferred Card does one thing, and it does it well. It offers one of the longest 0% offers on purchases and balance transfers. At 21 months on balance transfers, it’s currently the longest no interest balance transfer card we can find.

Pros & Cons

Pros

• Excellent 0% APR offer on balance transfers and purchases
• No annual fee

Cons

• No signup bonus
• No rewards
• Requires good to excellent credit

Introductory Interest Rates

New cardholders get a 0% intro APR for 21 months on both purchases and balance transfers. There is a 3% balance transfer fee (minimum $5). Balance transfers must be completed within four months of account opening.

Features and Benefits

• 24/7 Customer Service: Citi’s customer service representatives are available around the clock.
• Choose your payment due date: You decide whether your payment is due at the beginning, middle or end of the month.
• $0 Liability on Unauthorized Charges: Shop anywhere and never lose a penny on unauthorized charges. With $0 Liability you won’t pay for any unauthorized charges made on your Citi credit card.
• Account Alerts: Get alerts on your balance, payment due date, or if you go over your credit limit.
• Digital Wallet: The card works with Apple Pay and Google Pay.
• Contactless Payment: Just tap the card to pay.

Who the card is best for

No annual fee

Those looking for a basic, no annual fee card might consider the Citi Diamond Preferred Card.

0% Balance Transfer

Those with high interest debit on non-Citi credit cards might do well with this offer. It has one of the longest 0% balance transfers available today.

Big Purchase

If you are planning a big purchase, the 0% on purchases may be ideal. Just remember to pay the balance off in full before the introductory rate expires (or have a plan to transfer it to another balance transfer card).

Who might want a different card

Lacks rewards

If you are looking for cash back, travel or other rewards, the Citi Diamond Preferred Card is not for you. It offers no purchase rewards.

No signup bonus

Those looking for a rich signup bonus should also look elsewhere.

Alternatives

There are some cards that offer the same or, in one case, a better 0% deal:

• U.S. Bank Visa Platinum: 0% APR on purchases and balance transfers for 20 billing cycles.
• Wells Fargo Platinum card: 18 months on both purchases and balance transfers (no rewards)
• Citi Double Cash: 0% APR on balance transfers for 18 months. In addition, it pays 2% cash back.

If a slightly shorter 0% introductory period still meets your needs (say 15 months instead of 18), there are other offers that come with excellent cash back rewards:

• Capital One Quicksilver Card: 0% for 15 months on purchases + 1.5% cash back
• Wells Fargo Cash Wise Card: 0% for 15 months on purchases and balance transfers + 1.5% cash back

Approval Odds

Credit card companies consider a number of factors when evaluating an application. These factors may include income, debt, existing credit cards and, of course, the applicant's credit score.

While credit card issuers do not publish the criteria for approval, we collect publicly available data on credit scores for those who have been either approved or denied for a credit card. Keep in mind that we cannot verify this information and an issuer's credit score requirements can change over time.

• Approved (06/09/2018): 764 (Equifax)--$2,800 credit limit
• Approved (01/09/2017): 725 (Equifax)--$6,200 credit limit
• Approved (05/20/2018): 710 (Not Provided)--$7,400 credit limit
• Approved (07/01/2020): 799 (Equifax)--$9,800 credit limit
• Denied (04/04/2021): 698 (Equifax)