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Get the scoop on the Citi® Diamond Preferred® Card from the finance nerds! We'll give you our take on the perks and drawbacks of this credit card and compare it to a category leader. For a dynamic comparison of all our cards, check out our credit card tool.
NerdWallet Review: The Citi® Diamond Preferred® Card
No annual fee: The Citi® Diamond Preferred® Card has no annual fee. This means it's ideal for those who don't put much on their cards, and want to keep the card open for a long time. If you keep your credit cards open, you'll boost your average account age and thus your credit score.
No spending threshold for bonus: Unlike some cards that ask you to spend a certain amount before getting the bonus, this one gives it to you right off the bat. You didn't hear it from us, but it's a great way to easily score a bonus without committing to the card.
Introductory APR period: This card comes with an intro APR period. A low-APR promotion lets you make a large purchase and pay it off interest-free for a while.
Credit Card Showdown: Citi® Diamond Preferred® Card vs. Citi® Platinum Select® Visa®
Same ongoing interest rate: The two cards have the same minimum ongoing APR, which might be higher if your credit isn't amazing. It's important to remember that not all issuers will categorize your risk in the same way, so it's possible one may offer you a more reasonable APR than the other. That said, "interest rate shopping" on credit cards is frowned upon by Fair Isaac, the company responsible for your credit score, so don't apply for different cards all at once in hopes of getting the lowest rate. Instead, use the minimum APR and the issuer's reputation as a guideline.
Same late payment fee: The Citi® Diamond Preferred® Card has the same late fee as the Citi® Platinum Select® Visa®. In theory, you should avoid incurring late payment fees altogether. In addition to the late fee, you might incur a penalty APR that stays with you for 6 months or more.
Higher required spending: The Citi® Diamond Preferred® Card requires you to spend more before getting the bonus. The Citi® Diamond Preferred® Card makes you spend more before you get the bonus. This will be important if you're not a big spender, or you're looking to take the signup bonus and run without using the card much. That's how they get you: once you get into the habit of using the card, you probably won't stop.
Read the full review of the Citi® Platinum Select® Visa® on our blog
