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Citi Diamond Preferred is a great option for high interest debt consolidation.
City. Gilbert Espinosa/Business Insider
- The Citi® Diamond Preferred® Card comes with an excellent introductory offer of 0% APR.
- It doesn’t usually have a welcome bonus, but right now, you can earn a $150 statement credit after spending $500 on purchases in the first three months of account opening.
- This offer won’t be available for much longer, so apply now if you’d like to earn the bonus.
- Read our Insider’s guide to the best rewards credit cards.
using a Credit card with long introductory 0% APR A great way to consolidate debt or save interest on large purchases that you want to pay off over time. Non-annual fee Citi® Diamond Preferred® Card she is one from The best balance transfer cards Due to its extra long 0% APR on balance transfers for 21 months (transfers must be completed within 4 months of account opening) and on purchases for 12 months (followed by a 17.24% – 27.99% variable APR).
The downside: The Citi® Diamond Preferred® Card does not earn rewards for spending, and it usually does not offer a welcome bonus. But right now, it offers you a $150 statement after you spend $500 on purchases in the first three months of opening the account. However, this offer is due to end very soon, so this is your last chance to apply.
The addition of a welcome offer makes the Citi® Diamond Preferred® Card even more attractive. You still won’t earn rewards for your daily spending, but if your goal is to quickly put some money back into your wallet, the new reward will be a good deal.
Insider Premium Intro APR credit cards
0% intro APR on balance transfers for 18 months and on purchases for 6 months
normal April
15.74% – 26.74% variable (as of 12/15/2022)
0% intro APR on balance transfer for 21 months (transfers must be completed within 4 months of account opening) and on purchases for 12 months
normal April
17.24% – 27.99% variable
0% intro APR for 18 months from account opening on eligible purchases and balance transfers (three-month extended APR with minimum on-time payments during the introductory period)
normal April
17.24% – 29.24% variable
Here’s what you need to know about the Citi® Diamond Preferred® Card to help you decide if this offer is right for you.
Here we focus on the rewards and perks that come with each card. These cards will not be worth it if you are paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford.
Last chance to win a $150 Citi Diamond Preferred enrollment bonus
Citi® Diamond Preferred® Card
Introductory view
$150 statement credit after $500 spent on purchases in the first 3 months of account opening
Citi® Diamond Preferred® Card
Introductory view
$150 statement credit after $500 spent on purchases in the first 3 months of account opening
details
Introductory view
$150 statement credit after $500 spent on purchases in the first 3 months of account opening
Credit recommended
Good to excellent
Ordinary Annual Percentage Rate (APR)
17.24% – 27.99% variable
Introductory Annual Percentage Rate (APR)
0% intro APR on balance transfer for 21 months (transfers must be completed within 4 months of account opening) and on purchases for 12 months
Editor’s rating
Our editor’s ratings break down fees, rewards, rewards, and benefits to highlight the simplest, most valuable credit cards available.
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Besides a time-limited $150 statement bonus after you spend $500 on purchases in the first three months of account opening, the biggest benefit you’ll get from the Citi® Diamond Preferred® Card is its generous 0% APR offer.
New cardholders get 0% APR upfront on balance transfers for 21 months (transfers must be completed within 4 months of account opening) and on purchases for 12 months (then 17.24% – 27.99% variable APR). Keep in mind that balance transfers must be completed within the first four months of account opening, and there is a fee of either $5 or 5% of the amount of each transfer, whichever is greater.
Although there are plenty of cards out there that offer a longer APR PurchasesOnly a few others offer 0% interest for 21 months Balance transfersincluding Citi Simplicity® Card And the Wells Fargo Reflect® Card Neither of these things comes with a sign-up bonus.
benefit from a 0% intro APR on balance transfers It can give you some breathing space if you have another High interest credit card debt You want to consolidate and pay. As long as you make the minimum payment each month, you won’t be charged interest for the life of the offer—and if you have a great balance, this could translate into savings of hundreds of dollars.
This card can also fit your strategy if you have a large or unexpected purchase that you can’t pay off in one go. With intro APR on purchases, you’ll earn 0% interest for 12 months (provided you make minimum payments) which can save you a significant amount of cash.
Consider other cards if you want a low 0% APR on purchases
If upfront APR on new purchases is what you’re looking for, be sure to look at our other non-annual fee cards with a long 0% APR introductory period that also offers a bonus And the Earn rewards. for example:
* On the Blue Cash Everyday® Card from American Express, cash is received in the form of reward dollars
*** Eligible 5% cashback categories on the Citi Custom Cash℠ Card are restaurants, gas stations, groceries, select travel, select transit, select streaming services, pharmacies, home improvement stores, fitness clubs, and live entertainment
The right card for your situation really depends on why you want to use the 0% APR offer. If it’s about transferring the balance, and earning rewards isn’t as important to you, it’s hard to beat the Citi® Diamond Preferred® Card.