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What is the Citi Diamond Preferred

Citi Flex Loans allow you to borrow money against your Citi card credit limit at a fixed rate and pay it back over a set period of time, with no additional fees, application or credit inquiry required. This could be a useful tool should you need a personal installment loan down the line.

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Bank Of America® Unlimited Cash Rewards Credit Card Review: $200 Bonus Offer And 15% Cash Back On All Purchases

Citi sets credit limits based on your creditworthiness and other determining factors, like your income and outstanding debt. According to Citi’s terms and conditions, your credit limit could be as low as $500.

The Citi Diamond Preferred Card offers no rewards program, so pairing it with a no-annual-fee rewards credit card could be a great way to earn points or cash back on some of your spending. Depending on your spending habits, you can opt for a card that offers outsized rewards in a specific category or stick with a flat-rate card to earn rewards on every purchase you make.

A lack of rewards is still a disadvantage, because there are some rewards credit cards with balance transfer offers. These cards can offer more value after you’re done paying off credit card debt. Before you apply for this Citi card, it’s a good idea to look at other credit card reviews so you know what other cards offer.

This is a nice feature if you want to monitor your credit as you pay off high-interest debt with the promotional offer. The offers that appear on this site are from companies from which MoneyUnder30 receives compensation. MoneyUnder30 does not include all companies or all offers available in the marketplace.

The banks, lenders, and credit card companies are not responsible for any content posted on this site and do not endorse or guarantee any reviews. The scoring formula takes into account the type of card being reviewed and the card’s rates, fees, rewards and other features. The Citi Diamond Preferred Card is geared toward people looking to attend in-person experiences such as concerts. It also has a respectable intro APR on both purchases and balance transfers. These valuable perks make the Citi Diamond Preferred a better option for many cardholders, particularly given that both cards have no annual fee and an introductory APR offer. This is par for the course with most credit cards, but not for every Citi credit card — the Citi Simplicity® Card has no late payment fee and no penalty APR.

Citi® Diamond Preferred® Card

A year is a long time to take advantage of zero interest charges, so if you’re considering a large purchase that will require multiple installments to pay off, this is one card to keep on your shortlist. But even paying the same $250 per month in the previous example, you could still pay off nearly half of the debt without incurring any interest. Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team. If this is an additional card in your wallet, you might want to use it to transfer a high-interest balance from other existing cards to consolidate your debt.

  • This may make the choosing between the Citi Diamond Preferred and Citi Double Cash easier for many cardholders.
  • The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships.
  • But even paying the same $250 per month in the previous example, you could still pay off nearly half of the debt without incurring any interest.
  • The Citi Diamond Preferred Card is not one of our top-rated balance transfer credit cards.
  • See the online credit card applications for details about the terms and conditions of an offer.
  • Our goal is to give you the best advice to help you make smart personal finance decisions.

We may be compensated when you click on links from one or more of our advertising partners. So if you are a fan of attending big events where tickets may be hard to get or like going out in general, this card may suit both your entertainment as well as your financial needs alike. No, there are no rental car insurance perks with the Citi Diamond Preferred Card. Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible). Citi provides one called the FICO® Bankcard Score 8, which has scores ranging from 250 to 900. Many credit scoring systems use a scale of 300 to 850, so Citi’s tool may provide a slightly different range than you’re used to.

Unfortunately, the Citi Diamond Preferred isn’t a metal credit card. However, you may have a hard time finding a metal balance transfer card anyway since issuers typically reserve metal designs for their top-of-the-line travel cards. After the promotional period on balance transfers and new purchases ends, the Citi Diamond Preferred card’s ongoing APR will be 17.49% to 28.24% , depending on your creditworthiness. Unfortunately, the Diamond Preferred card charges a high balance transfer fee. While the card once charged a 3% balance transfer fee (or $5, whichever was higher), the Diamond Preferred now charges a whopping 5% balance transfer fee (again, with a $5 minimum). This is a major downside and could add up to hundreds more in fees if you have a large balance to transfer.