Citi Diamond Preferred: Ultra-long 0% Intro APR Period on Balance Transfers

The Citi Diamond Preferred can help make a dent in your debt, but because the card doesn't earn rewards, it may not earn a long-term place in your wallet.

Melissa LambarenaMay 28, 2020

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Our Take


NerdWallet rating 

The bottom line: It offers a long 0% APR period for purchases and balance transfers, but other cards waive pricey fees for late payments.

Citibank Diamond Preferred Credit Card

on Citibank's application

Annual Fee


Regular APR

14.74% - 24.74% Variable APR

Intro APR

0% on Purchases and Balance Transfers for 18 months

Recommended Credit Score

Quick Facts

Pros & Cons


  • No annual fee

  • 0% for 18 months on transfers if you qualify


  • No rewards

Full Review

The headlining feature of the $0-annual-fee Citi® Diamond Preferred® Card 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.

Citi® Diamond Preferred® Card: Basics

Annual fee: $0.

APR: 0% on Purchases and Balance Transfers for 18 months, and then the ongoing APR of 14.74% - 24.74% Variable APR.

Sign-up bonus: None.

Rewards: None.

Balance transfer fee: 3% of each transfer; $5 minimum.

Why you might want the Citi® Diamond Preferred® Card

A $0 annual fee

The Citi® Diamond Preferred® Card has two ideal features: a $0 annual fee and a long 0% intro APR offer. Both can save you money as you pay down a balance.

A long interest-free period

With the Citi® Diamond Preferred® Card, you’ll pay an intro 0% on Purchases and Balance Transfers for 18 months, and then the ongoing APR of 14.74% - 24.74% Variable APR. That's one of the longest interest-free periods for balance transfers on the market.

Choose your payment due date

The Citi® Diamond Preferred® Card lets you choose a monthly payment due date that works for you. That can offer a little flexibility as you attack your balance.

Why you might want a different card

It doesn't Earn rewards

The Citi® Diamond Preferred® Card doesn’t give you much reason to keep using it after you’ve paid off your balance. The Discover it® Cash Back, on the other hand, offers a solid introductory APR offer and great ongoing rewards. You get a 0% intro APR for 14 months on purchases and balance transfers, and then the ongoing APR of 11.99% - 22.99% Variable APR. 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 $0.

It charges late fees

Most other cards also charge them, but Citi offers a sister card that doesn't. With the Citi Simplicity® Card - No Late Fees Ever, there is no late fee or penalty APR if you miss a payment. These are nice safety nets for forgetful cardholders (although paying late can still potentially hurt your credit scores). The Citi Simplicity® Card - No Late Fees Ever has a generous 0% intro APR offer.

Is the Citi® Diamond Preferred® Card right for you?

If you know you'll need a long time to pay down an existing balance, the Citi® Diamond Preferred® Card 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 Citi Simplicity® Card - No Late Fees Ever is a better choice.


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