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Citi Diamond Preferred: Longest Balance Transfer Promo Out There?

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If you want a great balance transfer deal, the Citi® Diamond Preferred® Card card should be high on your list. With 0% on purchases and balance transfers for 21 months, and then the ongoing APR of 11.99%-21.99% (Variable), this card offers just about the longest balance transfer deal out there. In addition, it offers a lower-than-average transfer fee. Still, we think that other cards might be a better bet, whether by improving on the Citi® Diamond Preferred® Card’s hidden fees or by offering rewards in addition to a 0% intro APR period. Read on to learn the details of the card, as well as a comparison to other balance transfer credit cards that we think give this card a run for its money.

A great promo for transfers and purchases

The Citi® Diamond Preferred® Card’s long intro APR period is a major advantage to those who want to pay off a debt over time. Its balance transfer fee is only 3%, lower than the standard 5%. The card has no annual fee, but neither does it offer rewards or a sign-up bonus.

The Citi® Diamond Preferred® Card is a good choice if you need time to pay off debt interest-free, or if you plan to make a large purchase that you won’t be able to pay for upfront. If you aren’t paying off a debt, you may want to look for a rewards card instead.

Great transfer promos run in the family

When it comes to introductory transfer and purchase rates, Citi is at the top of the game. They dominate our rankings of the best balance transfer credit cards, and for good reason: their balance transfer fees are lower than the standard, and they have the longest intro periods out there. However, they’re somewhat lacking in the rewards department. Here’s a comparison of the Citi Diamond Preferred with a few other balance transfer heavy hitters.

Citi Diamond Preferred vs. Citi Simplicity:

Like its siblings, the Citi Simplicity® Card offers 0% on purchases and balance transfers for 21 months, and then the ongoing APR of 12.99% - 22.99% (Variable). It also boasts no penalties or late fees. For people who are worried about making monthly payments in full, and on time, this card will win major points.

Citi Diamond Preferred vs. Discover it:

Though a great low APR and balance transfer card, the Citi® Diamond Preferred® Card doesn’t offer any rewards. If you’re looking for a combination balance transfer and rewards card, the Discover it® may be the ticket. Although it isn’t necessarily the best rewards credit card, it offers 0% on purchases for 6 months and 0% on balance transfers for 18 months, and then the ongoing APR of 10.99% - 22.99% Variable. It’s a rotating bonus category card, so it gives 5% back on a set of categories that change quarterly up to $1,500, in addition to 1% back on all other purchases. The Discover it® lets you have your cake and eat it, with an impressively long interest-free period and a reward program.