is an independent website that is supported by advertising. may be compensated by credit card issuers whose offers appear on the site. Because we are paid by our advertising partners it may impact placement of products on the site, including the order in which they appear. Not all available credit card issuers or card offers are included on the site.

Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT

Erik Van Dootingh
Updated on: 03/16/2018
RE®: 99
Our Rating
Citi® Diamond Preferred® Card
Apply Now
For excellent/good credit
  • 99
    for Purchases
  • 99
    for Balance Transfer

"Pay down your debt without interest for an incredible 21 months."

Citi Diamond Preferred is a great card if you’re trying to get out of debt or reduce your interest burden. It comes with 0% APR for an incredible 21 months. The interest-free promotional rate applies to balance transfers. The intro 0% APR period for purchases is 12 months.

This is an extremely long period of time for a no-interest offer. Most cards that offer introductory 0% APRs have promotional periods that only last about a year. This card also has no annual fee. The combination of these two features means that you can use this card for nearly two years without paying any sort of fee or interest as long as you make your payment on time each month.

The downside of the Diamond Preferred card is its lack of rewards. The card does not earn any type of cash back, points or miles. There is also no sign-up bonus. While this card can help you save on interest, especially if you have a large balance to transfer from a higher interest credit card, you will not be rewarded for additional spending.

Additionally, the balance transfer option is not free to use. There is a balance transfer fee of 5$ or 5%, whichever is greater.

Features and Benefits

The best feature offered by the Citi Diamond Preferred card is the 0% APR for 12 months on purchases and 21 months for balance transfers. If you have debt accumulated on another credit card and don’t have the funds to pay it off immediately, this card offers a method for potentially significant savings. You can transfer your balance over to this card and avoid any interest charges for the first 21 months. This gives you the flexibility to pay down your debt over time without incurring additional interest charges.

This card also comes with no annual fee, so you can enjoy all the benefits offered without having to pay to keep the account open. Since this card is targeted toward people managing their debt, any additional savings is useful.

Citi offers a free monthly FICO score as a benefit of holding this card. This allows you to keep better track of your credit and learn why your score may be fluctuating. The webpage containing your score includes additional information about payment history, credit utilization rate, the average age of accounts and more, which can help you understand why your score is what it is. If your score is lower than you would like it to be, you can use this information to help solve the specific issues that are holding it down.

Another great feature of Citi cards is a potentially money saving program called Citi Price Rewind. This feature reimburses cardholders if they purchase an item and its price drops within 60 days.

In order to take advantage of this benefit, save your receipt, log in to and search in the Citi Price Rewind database for the item you bought within the last 60 days. Citi provides a useful list of which items are and are not covered under this program.

Once you have located your item, select it in the database, enter the purchase details, and upload a receipt to start a Price Rewind. If you don't see your exact item in the database, or if you find a lower published price on your own, you may submit your Citi Price Rewind benefit request online, via mail or by phone.

The best part of this program is that Citi does most of the work. They will look for a lower price for the item you just registered. If they find one within 60 days of purchase, you will be notified via email. If you found a lower price on your own after starting a Price Rewind, you can add this information to your Price Rewind and submit your benefit request.

If a lower price is found, Citi will email you so you can request the price difference. If additional information is needed on your request, they will reach out to you so you can provide it. If your request is eligible, you may receive the difference in price. Coverage is limited to $500 back per item and $2,500 per year.

What You Get

  • 0% intro APR for 12 months for purchases and for 21 months for balance transfers
  • No annual fee
  • Free FICO credit score
  • Citi Price Rewind

Saving on Purchases with Citi® Diamond Preferred® Card

The savings available on new purchases are arguably the best use of the introductory 0% APR. This is because new purchases, unlike balance transfers, do not come up with an upfront fee. Therefore, you can use this feature to completely avoid interest and fees as long as you pay off the entire balance before the 12-month 0% APR period is over. You must make at least the minimum payment to maintain the promotional rate.

Introductory apr
0% Intro APR on Purchases
12 months
14.74% to 24.74% Variable±

Saving on Balance Transfers with Citi® Diamond Preferred® Card

Transferring balances from credit cards or other debts on which you are paying interest is a great way to save some money. However, the Citi Diamond Preferred card charges a fee of 5$ or 5% of the balance, whichever is greater, when you conduct a balance transfer. So you should be sure the interest savings are greater than the balance transfer fee before you make this decision. In addition, balance transfers must be completed within the first four months of account opening in order to qualify for the promotional 0% APR.

Introductory apr
0% Intro APR on BT
21 months
14.74% to 24.74% Variable±
Balance Trasnfer Fee: There is a balance transfer fee of either 5$ or 5% of the amount of each transfer.

Be Aware: What You need to Know

While transferring a large balance to a 0% APR card can be a great way to save on interest, it can also be detrimental to your credit score to carry a large balance. One of the most important factors in calculating a credit score is your utilization ratio, which is simply your total outstanding credit card balances divided by your total available credit. If you carry a large balance, this will weigh down your credit score until it is paid off. This, in turn, will make it more difficult to get approved for new cards or other forms of debt, especially at preferential interest rates.

Best Ways to Use Citi® Diamond Preferred® Card

These are the best uses for the Citi® Diamond Preferred® Card:

  • Large Purchases

  • Unexpected Expenses

  • Balance Transfer

  • Short Term Loan

  • Vacation

  • Job Loss

  • Build Credit

Should You Keep the Card?

After the introductory 0% APR period concludes, there are not many benefits to keeping this card. Since this card offers no rewards, there is no point to allocate spending to it at a regular interest rate. There are many other cards that offer 0% introductory APRs, so if you are still working on paying down debt when the 21 months is over, you may want to consider another card with that feature.

If you have improved your credit situation, you may want to upgrade to a card that offers rewards. There are many such cards that also have no annual fee.

Since the Citi Diamond Preferred card carries no annual fee, there is no cost to keeping it open. Doing so will help lengthen your average age of account, which is a factor in computing your credit score. Therefore, if Citi does not give you the option to change this card to a more rewarding one, leaving it open is a perfectly reasonable choice.

Citi Savings Calculators

If you’re still trying to decide if you should get the Citi Diamond Preferred card, our interactive tools can help. Just input your current outstanding debt, estimated new purchases, APR and minimum monthly payments, and we’ll estimate the savings you’ll get for purchases and balance transfers made with the Citi Diamond Preferred card.

Purchases Calculator

Let us know how you plan to use the card, and we’ll figure out how much you’ll save.

Purchase amount

How much could you afford to repay each month?

Citi® Diamond Preferred® Card

You could save
Balance paid off in
??? month(s)
Annual Fee
You may be offered a different credit limit, representative APR, purchase rate or promotional Balance Transfer period to any shown here as it depends on your individual circumstances. Subject to status.
Current Card

Your Current Credit Card

Your Current Credit Card

Monthly payment
Balance to paid off in
??? month(s)
Interest rate(APR)
Annual Fee

Balance Transfer Calculator

Do you have outstanding debt? Here’s how much you’ll save by transferring it to the Citi Diamond Preferred card.

How much would you like to transfer?
How much could you afford to repay each month?

Citi® Diamond Preferred® Card

You could save
Balance paid off in
??? month(s)
Balance transfer fee
Annual Fee
You may be offered a different credit limit, representative APR, purchase rate or promotional Balance Transfer period to any shown here as it depends on your individual circumstances. Subject to status.
Current Card

Your Current Credit Card

Your Current Credit Card

Monthly payment
Balance to paid off in
??? month(s)
Interest rate(APR)
Annual Fee

Should You Get the Citi Diamond Preferred Card?

The primary benefit of the Citi Diamond Preferred card is the 21-month introductory 0% APR for balance transfers. This benefit is very useful for people trying to get out of debt or for people anticipating a large purchase which they would like to pay off over time without incurring interest charges.

If you are currently paying a high interest rate on another credit card and have a considerable balance, transferring that balance to the Citi Diamond Preferred card could result in significant savings. If you are in debt, interest payments and late fees can make paying off your credit card balance seem difficult because these fees offset any potential reduction in the principal. However, making a balance transfer to a credit card with a 0% intro APR can be a successful strategy for reducing your debt.

Since the Citi Diamond Preferred card has a 21-month 0% APR period for balance transfers, you can essentially take your current balance and divide by 21 to determine how much you will have to pay each month in order to pay the debt off completely before interest charges begin.

By consolidating your debt with a new credit card that has a 0% intro APR period, you can simplify your payments and focus your efforts on paying off your card as soon as possible. Not only will you have more time to pay down your debt without interest, making regular payments on time will also help build your credit history.

There are a variety of reasons why you may need to make a large, one-time purchase for which you do not currently have the funds to pay for in full. You could be preparing for a vacation, buying a new major appliance or facing the expenses associated with moving. A credit card with a 0% introductory APR may be the tool you need to keep your debt servicing costs below the amount of income you have available for payments.

Instead of using a regular credit card and paying for those items along with interest, an introductory 0% interest credit card can help you stretch out your payments over time, without paying extra for your purchases during the intro period. You could also use this feature to help with large purchases around the holidays. In addition to higher interest credit card debt, you can transfer other types of debt, such as home equity lines of credit, student loans and auto loans.


Need more info? Check out our frequently asked questions. If you have other questions, please click on “Ask Now” below.

  • What credit score do I need to get the Citi Diamond Preferred card?

    Banks do not publish the credit score needed to be approved for specific cards, and approval is based on a variety of factors. However, people who apply for cards often post their scores and results on various credit card forums around the internet.
    A significant number of people report having been approved for this card with scores in the mid- to low-600s. This makes sense because this card is targeted at people seeking to make balance transfers, meaning they have outstanding debt on other cards. This outstanding debt increases their utilization ratio, which in turn reduces their FICO score. Citi wouldn’t be successful with this product if they did not allow people in such situations to be approved for this card.
  • Will I have to pay back interest if I do not pay my balance down to zero by the end of the 0% APR period?

    No, you will not. This is a common misconception about 0% APR balance transfer credit cards, which differ from special financing offers from many retail stores. You will have to pay interest once the promotional period is over, but you do not have to pay back interest on the balance you carried during those 21 months. Interest will not start accruing until the 22nd month, and it will only be on the remaining balance.
  • Will getting the Citi Diamond Preferred card prevent me from earning sign-up bonuses on other Citi cards?

    In general, the answer is no. Citi has rules limiting people to one sign-up bonus per card family per 24 months. Card families include ThankYou Rewards cards, American Airlines cards and Expedia cards. The Diamond Preferred card does not belong to any of these, and therefore does not trigger any explicit limit. However, as with any new credit card, there will be a temporary hit to your credit score after applying, and Citi in general limits application to one per eight day period and no more than two per 65 days.
Have A Question?
Ask our credit card expert!

Compare Cards

In addition to the Diamond Preferred, Citi also offers the Simplicity card to help customers pay off their debt with an extended period of 0% APR. Let’s take a closer look.

Citi® Diamond Preferred® Card
For Excellent/Good Credit
Check which Citi card is the right fit for you
Apply for this card

Other Citi cards

Citi Simplicity® CardCiti Simplicity® Card
Intro on Purchases0% for 18 months0% for 12 months
Intro on Balance Transfers0% for 18 months0% for 21 months
Ongoing APR15.74% to 25.74% Variable±14.74% to 24.74% Variable±
Balance Transfer Fee5$ or 5%5$ or 5%
Annual Fee$0$0

The Citi Simplicity card comes with slightly different introductory offer to the Diamond Preferred card. You’ll get a 0% APR for the first 18 months. The balance transfer fee is the same to Diamond Preferred Card being at 5$ or 5% of the amount transferred, whichever is greater.

The Simplicity card has an added perk of never charging late fees or penalty APRs after late payments are made. This can be a big money saver for those who struggle to make payments on time.

Neither the Simplicity nor the Diamond cards have annual fees. Both are excellent choices if you need an extended period of time to pay down existing debt or to pay off a big upcoming purchase.

Rewards Cards With 0% APR Offers

Most major banks offer at least one credit card with a 0% introductory APR. The cards below also allow you to earn rewards while paying of your debt without interest.

0%intro APR for 21 months
Citi® Diamond Preferred® Card

Check if Citi® Diamond Preferred® Card is the best option for you

Best Cashback Card

While choosing the best cashback card will ultimately depend on your personal spending habits, it’s safe to say that the Citi Double Cash card is a real contender. That’s because you’ll get a solid 2.0 percent return on all the spending you do on the card.

You won’t have to worry about bonus categories or limits on rewards. Just use the card and get 2.0 percent back. There’s a slight catch, though. You’ll get the first 1 percent cash back just for making a purchase, but you’ll have to pay off your bill in order to get the second 1 percent back.

This card has no annual fee and comes with 18 months of interest-free financing on balance transfers.

Best Rotating Category Card

The Discover it card offers an excellent 5.0 percent cash back for purchases made in select bonus categories. Those categories change every quarter, but they always include popular merchants and retailers. Every year is slightly different, but you’re likely to see gas stations, wholesale clubs, restaurants and even websites, such as Amazon, on the list. All other purchases 1.0 percent back.

What makes this card really outstanding, though, is Discover’s Cashback Match. At the end of your first year as a cardholder, Discover will double the cashback you’ve earned in the previous 12 months. So purchases made in bonus categories get an amazing 10.0 percent back and all other purchases earn a solid 2.0 percent back.

While that level of earning won’t continue past the first year, this card would still be worth holding on to if you find that you spend a lot in the 5.0 percent bonus categories.

There’s no annual fee, and you’ll get 0% APR for 14 months on both balance transfers and purchases.

Best Rotating Category Card

If you need cash now, the Chase Freedom Unlimited card offers a quick $150 bonus after you make $500 in purchases. It has no annual fee, so that’s free money.

Even beyond the bonus, this isn’t a bad card. To start with, you’ll get 15 months of interest-free financing on both balance transfers and purchases. On top of that, every single purchase earns 1.5 percent back. That means that every dollar you spend earns a bonus.

Card Overview

Whenever you apply for a credit card make sure you read the terms and conditions of the card and the rewards program to find out about minimum spend requirements and any restrictions to ensure you can successfully obtain the card and earn the rewards it offers.

Card Details
Excellent credit score
From 700 to 850
Use points

Card Terms and Conditions

There's a lot to consider as you think about how you're going to use the Citi Diamond Preferred card. Will you transfer a balance, get a cash advance or make a big purchase? Below is a rundown of the various interest rates, purchase protections, security features and mobile banking options that come with this MasterCard.


Intro APR:
0% introductory APR for 12 months from date of account opening
Intro APR for balance transfers:
0% introductory APR for 21 months from date of first transfer when transfers are completed within 4 months from date of account opening
Ongoing APR:
14.74% to 24.74% Variable±
Minimum Grace Period:
23 days
Extended Warranty Protection:
Citi will extend the warranty for 24 months, covering up to the amount charged on the card with a cap of $10,000.
Purchase Protection:
Citi offers coverage for damage and theft in the first 120 days following a purchase, with caps of $10,000 per item and $50,000 per year.
Return Protection:
Citi offers the ability to be reimbursed for items that the merchant won’t accept for return within the first 90 days after purchase. This benefit is subject to limits of $500 per item and $2,500 per year.

Cash Advance Features

Ongoing APR:
26.99% Variable±
Cash Advance Fee:
Either $10 or 5% of the amount of each cash advance, whichever is greater

Security and Protections

Fraud Alerts:
Citi will prevent potentially fraudulent transactions from occurring, which you can easily clear with a text and proceed with your purchase.
EMV Chip Technology:
Get global acceptance and enhanced security at merchants that use chip-enabled terminals.
Credit Score Monitoring:
Citi partners with Equifax to offer card members a free monthly FICO score.
Citi Identity Theft Solutions:
If you’re a victim of identity theft, Citi can help you resolve the matter and get your life back on track. They assist with identifying compromised accounts, filing police reports and taking steps to get your credit back.

Mobile Banking

Citi offers a mobile app with a high degree of functionality. You can see transactions, balances, available credit and make payments. You can also lock your card if you have lost it or suspect fraud.

Additional Cardholder Benefits

The Citi Diamond Preferred card comes with a variety of benefits typical of Citi MasterCard products.

Master Card Travel Benefits

Worldwide Car Rental Insurance:
Citi offers coverage of up to $100,000 for theft and collision for most rentals in the U.S. and abroad. Coverage is secondary to your personal insurance.
Baggage Delay Insurance:
Get reimbursed for essentials, such as toiletries and clothing, if your bags are delayed over six hours. Includes up to $100 a day from departure to trip completion.
Lost Baggage Reimbursement:
Get up to $3,000 per passenger for damaged or lost bags. Coverage includes cardholder and immediate family members on the same travel itinerary.
Trip Delay Protection:
Covers expenses like meals and lodging incurred due a delayed trip on a common carrier.
Travel Accident Insurance:
Receive accidental death or dismemberment coverage of up to $500,000 for any air, bus, train or cruise ship transportation paid for with your card.