Best Balance Transfer Credit Cards

Citi® Diamond Preferred® Card Review: A Balance Transfer Powerhouse

Maximize savings with 0% intro APR for 21 months on transfers & more, no annual fee.

Rickie C. Keys, Ph.D., MPH

Mar 31, 2024 — 1 min read

Features

Annual Fee: $0, offering significant value without the cost.
Intro APR: 0% on balance transfers for 21 months and purchases for 12 months, perfect for debt management or large purchases.
Regular APR: Variable 18.24% to 28.99%, based on creditworthiness post-introductory period.
Balance Transfer Fee: 5% or $5 minimum, applicable during the first 4 months.

Benefits

Extended Intro APR: Among the longest introductory APR periods for balance transfers and purchases in the market.
No Annual Fee: Cost-effective choice for users looking to save on fees.
FICO Score Access: Free online access to your FICO® Score, helping you monitor your credit health.
Citi Entertainment®: You will have exclusive access to ticket sales for concerts, sporting events, and more, enhancing your leisure activities.

Drawbacks

Balance Transfer Fee: The 5% transfer fee may offset some users' interest savings.
No Rewards: This card does not offer points, miles, or cash back on purchases, limiting its appeal as a daily spending card.
Foreign Transaction Fees: This incurs a fee on international transactions, making it less ideal for travelers.

Product Summary

The Citi® Diamond Preferred® Card is a top-tier option for individuals seeking to manage existing credit card debt through balance transfers or finance large purchases with a lengthy 0% introductory APR period. With no annual fee and one of the longest intro APR offers on the market, it stands out as a valuable tool for financial management. However, the card's appeal is primarily for those with a specific need to consolidate debt or finance purchases rather than earn rewards for spending. Including perks like free FICO score access and Citi Entertainment® benefits adds additional value beyond its primary function. Ideal for users focusing on debt management but less suited for those seeking rewards or frequent international use.

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