The Citi Diamond Preferred Card is a MasterCard that offers a great introductory interest rate on purchases and balance transfers but fewer ongoing perks than other cards. Is it worth adding to your wallet? See our overview/review below:
The target customer for the Citi Diamond Preferred is someone who is willing to give up rewards in exchange for perks on the interest rate end. The card’s main selling points:
- 0% interest rate on purchases for 21 months
- 0% on balance transfers for 21 months (but a 3% fee on the amount of the transfer)
- A lower interest rate range than Citi reward cards, between 13.49% and 23.49%.
If those terms are interesting to you, we would suggest you compare this card to two others on the market right now:
- Chase Slate – 0% on purchases and balance transfers for 15 months, but NO balance transfer fee made within 60 days
- BankAmericard – 0% on purchases and balance transfers for 15 months, but NO balance transfer fee made within 60 days
As you can see, the Citi Diamond Preferred has a longer 0% interest introductory offer, at 21 months vs. 15 months. Where the other two cards win out is in the fact that they have no fee on balance transfers for those first 60 days. Obviously if you’re looking to move a balance from a higher interest card, one of the other cards might be a better bet because you’ll avoid the balance transfer fee.
None of the other features of the Citi Diamond Preferred Card are particularly noteworthy. This is a solid card if you are looking for a nice 0% introductory rate offer, but once that 0% period ends, there’s little to recommend it.