Citi Diamond Preferred: Ultra-long 0% Intro APR Period on Balance Transfers
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Our Take
4.8
The bottom line: It offers a long 0% APR period for purchases and balance transfers, but other cards waive pricey fees for late payments.
Full Review
on Citibank's application
on Citibank's application
Annual fee
$0
Regular APR
13.74% - 23.74% Variable APR
Intro APR
0% intro APR on Purchases and Balance Transfers for 18 months
Recommended Credit Score
Quick Facts
Pros & Cons
Pros
- No annual fee
- Intro APR period
- Intro balance transfer fee
Cons
- Requires good/excellent credit
- No rewards
Compare to Other Cards
Annual fee$0 | Annual fee$0* | Annual fee$0 |
Regular APR13.74% - 23.74% Variable APR | Regular APR14.99% - 23.74% Variable APR | |
Intro APR0% intro APR on Purchases and Balance Transfers for 18 months | Intro APR0%* intro APR for 20 billing cycles on purchases and balance transfers* | Intro APR0% intro APR on Purchases for 15 months |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
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Full Review
The headlining feature of the -annual-fee is its lengthy 0% intro APR on balance transfers and purchases — an interest-free period of more than a year. This super-long window could make it a worthy get-out-of-debt card for the right applicant.
The card doesn't earn rewards, however, so there's little incentive to use it once you've paid off your balance.
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Card type: and .
Annual fee: .
APR: .
Sign-up bonus: None.
Rewards: None.
Balance transfer fee: 3% of each transfer; $5 minimum.
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The has two ideal features: a annual fee and a long 0% intro APR offer. Both can save you money as you pay down a balance.
With the , you’ll pay an intro . That's one of the longest interest-free periods for balance transfers on the market.
The lets you choose a monthly payment due date that works for you. That can offer a little flexibility as you attack your balance.
The doesn’t give you much reason to keep using it after you’ve paid off your balance. The , on the other hand, offers a solid introductory APR offer and great ongoing rewards. You get a . The card earns 5% cash back on rotating quarterly categories on up to $1,500 in purchases each quarter (activation is required); 1% on everything else. Bonus categories in the past have included restaurants, grocery stores, wholesale clubs, gas stations and more. The annual fee is .
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Most other cards also charge them, but Citi offers a sister card that doesn't. With the , there is no late fee or penalty APR if you miss a payment. These are nice safety nets for forgetful cardholders (although ). The has a generous 0% intro APR offer. But if that doesn't fit the bill, check out NerdWallet's list of for more options.
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If you know you'll need a long time to pay down an existing balance, the could be an option. It offers one of the longest 0% intro APR periods on balance transfers available.
But if you're chronically forgetful, the is a better choice.
on Citibank's application
Frequently asked questions
The does not offer rewards or a sign-up bonus. The card’s most valuable feature is its long interest-free period for purchases and balance transfers. It offers . That’s can help you finance a large purchase or get out of debt.
The and the have comparable 0% introductory periods, balance-transfer fees and ongoing APRs, and both have a annual fee. When you , they have one key difference: The doesn't charge a fee or impose a for a late payment. That’s not the case with the .
You’ll need excellent credit — typically defined as a FICO score of 720 or higher — to qualify for the . Issuers also take into account factors like your income and .
The 0% period gives you more than a year without interest, allowing you to put more money toward paying down debt. There’s a balance-transfer fee of 3% of the amount of the transfer (minimum $5). And, you’ll only be able to transfer up to the amount of your assigned credit limit. If you don’t have excellent credit, can offer get-out-of-debt incentives.
You can start by calling the customer service number on the back of the card. Another option is to request a transfer with your application, but it takes at least 14 days after opening an account to complete the process. The total amount transferred must be less than your available credit limit on the , and you can't transfer debt from anothet Citi card. Once the transfer is approved, Citi pays the amount requested to the issuer of the other card, and that same amount is charged to your.
