Citi Diamond Most popular bank card evaluate

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The Citi® Diamond Most popular® Credit score Card is designed to assist people who find themselves battling debt

New card holders get an introductory APR on each purchases and steadiness transfers for the primary 18 months

One massive drawback is that the cardboard does not have a rewards program or any journey advantages

(CNN) —  

CNN Underscored opinions monetary merchandise equivalent to bank cards and financial institution accounts primarily based on their total worth. We might obtain a fee by the LendingTree affiliate community in case you apply and are authorized for a card, however our reporting is at all times impartial and goal.

Our fast take: The Citi® Diamond Preferred® Credit Card might help you pay down your debt, with an introductory steadiness switch provide that lasts for a powerful 18 months. Nonetheless, the cardboard doesn’t earn any rewards, which means you received’t get any money again or journey factors on your purchases. So as soon as your intro interval expires, this isn’t a card to maintain in your pockets for the long run.


  • 0% introductory APR for 18 months on steadiness transfers made within the first 4 months after you open the cardboard (14.74% to 24.74% variable APR afterward).
  • 0% introductory APR on all purchases for the primary 18 months (14.74% to 24.74% variable APR afterward).
  • No annual charge.


  • No sign-up bonus.
  • No rewards.
  • Restricted insurance coverage coverages and buy protections.

Present sign-up bonus: None.

Greatest for: Individuals seeking to switch present high-interest debt from one other bank card, or finance a big buy with no curiosity for an prolonged time period.

The Citi Diamond Preferred is designed for a selected kind of particular person — somebody who’s battling their bank card payments or who must finance some upcoming purchases. And by the way in which, if that describes you, it’s nothing to be embarrassed about. Many individuals are coping with debt after shedding their jobs or earnings through the pandemic, so don’t really feel alone in case you want a hand getting out of a gap.

The cardboard has one of many longest introductory durations for each steadiness transfers and purchases amongst bank cards in the marketplace at the moment, which is usually a large lifeline in case you want a while to get your monetary home so as. You may park your debt or upcoming bills on the Citi Diamond Most popular and use the prolonged time to begin paying off what you owe.

With that stated, in case you’re seeking to earn rewards for the stuff you purchase, this isn’t the cardboard for you. There’s no rewards program tied to the cardboard, which implies you received’t earn money again or journey rewards on any buy you make — even after the introductory APR has expired.

Click here for the introductory APR offer on the Citi Diamond Preferred card.

With regards to introductory affords, the Citi Diamond Preferred blows many different playing cards out of the water. First off, new card holders get an introductory 0% APR (Annual Proportion Fee) for 18 months on steadiness transfers made within the first 4 months after you open the cardboard, although as soon as these 18 months are over, you’ll pay a variable APR of 14.74% to 24.74% relying in your creditworthiness.

This implies when you have debt on one other bank card and also you’re at the moment paying lots of curiosity on it, you may switch that debt over to the Citi Diamond Most popular and never pay any curiosity for the primary 18 months. But it surely’s necessary to determine a plan throughout that point, since you don’t need to get caught paying the a lot increased rate of interest as soon as the introductory interval ends.

Relying on how a lot you owe, this might actually prevent a whole bunch or doubtlessly even hundreds of {dollars}. For instance, let’s say you will have a $5,000 steadiness in your present bank card, which carries a 16% APR. Over the course of the following 18 months, in case you solely make the minimal cost, you’ll be paying over $1,000 in curiosity alone on that debt.

However in case you can switch that $5,000 steadiness to a card just like the Citi Diamond Most popular, not solely will you not must pay that additional curiosity, you may as an alternative use the cash to pay down what you owe, making it simpler to grow to be debt-free.

Associated: 4 steps to getting rid of your credit card debt.

If you're trapped under debt, using the balance transfer feature of the Citi Diamond Preferred could save you a ton of money.

PHOTO: iStock

Should you’re trapped below debt, utilizing the steadiness switch function of the Citi Diamond Most popular might prevent a ton of cash.

It’s necessary to do not forget that to be eligible for the 0% introductory APR, you should provoke the steadiness switch out of your outdated bank card to the Citi Diamond Preferred throughout the first 4 months of being a card holder. There’s additionally a 3% charge (with a $5 minimal) to switch your steadiness. Whereas this may price you some cash initially — $150 on our $5,000 instance — it is going to finally prevent rather more in the long term.

Amazingly, this introductory APR provide isn’t restricted to steadiness transfers — it additionally extends to purchases made with the Citi Diamond Most popular within the first 18 months as properly. This could are available in fairly useful in case you’re seeking to make a number of massive purchases which you could’t afford to pay for abruptly. As an alternative, you may pay for them over time — as much as 18 months — interest-free.

You must by no means make pointless purchases in your bank card which you could’t afford. Nonetheless, in troublesome financial instances, a suggestion like this may be helpful as a final resort when you have bills that you just can’t keep away from, equivalent to a big restore invoice. It can be helpful in case you want it to make a big once-in-a-lifetime buy work, equivalent to shopping for an engagement ring.

However as with the steadiness switch choice, you’ll need to ensure to repay every part you owe throughout the first 18 months after opening the account, as as soon as the introductory interval ends, the APR ranges between 14.74% to 24.74% relying in your creditworthiness.

Associated: Tight on cash? These credit cards charge 0% interest on purchases.

The Citi Diamond Most popular card additionally comes with a free FICO credit score on-line and lets you select your cost due date, which is extraordinarily useful for many who pay their bank card payments round their paycheck schedule and want most flexibility.

See if you qualify for the Citi Diamond Preferred card.

We’re not going to sugarcoat it: The Citi Diamond Preferred doesn’t have a rewards program or lots of the advantages that different bank cards include, which is a big drawback. With many different no-annual-fee playing cards, you’ll earn money again or loyalty factors on each buy you make, which generally ranges between 1% and a couple of% of your purchases. That may put some “free” money again into your pocket.

However with that stated, in case you usually don’t pay your total bank card invoice in full each month, you’re already paying extra in curiosity than you’ll earn in rewards with any bank card. So incomes a couple of additional journey miles or money again isn’t value it if it can save you much more cash by eliminating the curiosity you’re paying for these purchases.

The Citi Diamond Most popular additionally received’t offer you insurance coverage protection or safety relating to journey or buying purchases. Whereas we wouldn’t count on any fancy perks on a no-annual-fee card, even the very fundamental protections are principally lacking right here.

And though it’s frequent to be charged a charge for transferring an present steadiness from one card to a different — and the three% charge on the Citi Diamond Preferred is fairly customary — it’s nonetheless one thing to bear in mind when contemplating whether or not a steadiness switch is value it, particularly if you have already got a low APR in your present card or suppose you may repay your steadiness in one other month or two.

CNN Underscored has chosen the Citi® Double Cash Card as our present “benchmark” credit card. That doesn’t imply it’s one of the best bank card in the marketplace; reasonably, we use it as a fundamental customary to match different bank cards and see the place they rating higher, and the place they’re worse.

Right here’s how the Citi Diamond Preferred scores in opposition to our benchmark. The options of every card within the beneath chart are coloured in inexperienced, pink or white. Inexperienced signifies a card function that’s higher than our benchmark, pink signifies the function is worse than our benchmark and white signifies the function is both equal or can’t be instantly in comparison with our benchmark.

Citi Double Money CardCiti Diamond Most popular
Card kindMastercardMastercard
Signal-up bonusNoneNone
Incomes price2% on all purchases(1% once you purchase, 1% once you pay it off)None
Redemption worth1 cent (money again)N/A
Ease of fundamental redemptionsStraightforwardN/A
Superior redemption choicesCan convert money again to ThankYou factors that switch to 16 airline companions in case you even have the Citi Premier or Citi StatusNone
High quality of superior redemptionsGoodN/A
Annual charge$0$0
International transaction charge3%3%
Journey perksNoneNone
Buy protectionsNoneNone
Journey protectionsNoneNone
Different perksNoneNone
Introductory APR on purchasesNone0%
Size of Introductory APR on purchasesN/A18 months
Introductory APR on steadiness transfers0%0%
Size of Introductory APR on steadiness transfers18 months18 months
Introductory steadiness switch charge3% or $5, whichever is bigger3% or $5, whichever is bigger
APR after intro durations finish13.99%-23.99% variable14.74% to 24.74% variable

When reviewing different bank cards, we use this format and these standards to match them with our benchmark. You may learn our credit card methodology for extra particulars on what we take note of relating to perks, protections and redemption worth.

Apply now for the Citi Diamond Preferred card.

Though the Citi Diamond Preferred affords one of many longest introductory APR affords on each purchases and steadiness transfers, there are a couple of different playing cards with related advantages.

The Wells Fargo Platinum® Card additionally affords an identical 18-month introductory APR on purchases and steadiness transfers, and also you’ll have an identical 120 days to switch your balances and get a 0% APR on them (which climbs to a variable APR of 16.49% to 24.49% afterward). You’ll even be charged the identical 3% charge ($5 minimal).

Just like the Citi Diamond Most popular, the Wells Fargo Platinum doesn’t provide any rewards on the purchases you make, nevertheless it does have some advantages, together with auto rental collision protection, journey accident insurance coverage and roadside dispatch. Plus, in case you pay your cellphone invoice with the Wells Fargo Platinum, your cellphone can be protected if it’s broken or stolen, as much as $600 with a $25 deductible, for as much as two claims per 12-month interval.

Associated: Protect your cell phone from theft or damage with these credit cards.

And in case you’re in search of a fair longer introductory interval than the Citi Diamond Most popular, you may look to the U.S. Bank Visa® Platinum Card, which comes with a 0% introductory APR provide on each purchases and steadiness transfers for a full 20 billing cycles after you open the account (a “billing cycle” is roughly a month). As soon as the intro interval ends, the APR jumps to a variable 13.99% to 23.99%.

Once more, you’re not going to earn any rewards with the U.S. Bank Visa Platinum, and also you’ve solely acquired 60 days after you open the cardboard to make any steadiness transfers and have them qualify for the introductory provide. However the card does include cellphone insurance coverage, so in case you pay your cellphone invoice with the cardboard, you’ll be lined for harm or theft to your cellphone for as much as $600 with a $25 deductible, for as much as two claims per 12-month interval.

If your main goal is to consolidate your existing debt, the Citi Diamond Preferred is an excellent choice.

PHOTO: iStock

In case your fundamental objective is to consolidate your present debt, the Citi Diamond Most popular is a wonderful alternative.

This query actually will depend on what you’re in search of in a bank card. If you would like a card that earns rewards in your on a regular basis purchases or affords perks once you’re touring or safety in your purchases, then this isn’t the cardboard for you.

But when your fundamental objective is to consolidate your present debt or finance your new purchases with out paying curiosity on any of it for as much as 18 months, then the Citi Diamond Preferred is a wonderful alternative, and an effective way to begin repairing the harm the pandemic might have wreaked in your funds.

If that describes you, our suggestion is to use for this card, use it throughout its introductory provide interval, then store it away in your sock drawer when you’re executed with it. At that time, you’ll hopefully be in a greater place financially to get a bank card that gives the prospect to earn additional rewards, or one that gives enjoyable journey perks.

Learn more about the Citi Diamond Preferred Card.

Discover out which playing cards CNN Underscored selected as its best balance transfer credit cards of 2021.

Get all the latest personal finance deals, news and advice at CNN Underscored Money.

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