The Citi Diamond Preferred Card offers 21 months of interest free financing on both new purchases and balance transfers. After that, APR will be a variable rate of 12.24% – 22.24% depending on your credit worthiness. There is no annual fee, but there are a number of perks and benefits included.
- 21 billing cycles of 0% intro APR on purchases and balance transfers.
- A ton of perks typically reserved for more premium cards. These would include personal concierge service, special discounts, purchase protection, extended warranty policy, travel and emergency assistance and insurance.
- No annual fee.
How It Works
0% Intro APR: Interest free financing on both new purchases and balance transfers for the first 21 months. After that, the regular interest rate will be a variable rate of 12.24% – 22.24% depending on your credit worthiness.
No Annual Fee: Despite offering a number of perks, you won’t have to pay a single dime to get the Citi Diamond Preferred Card.
Personal concierge service: Get 24/7 assistance for travel planning, directions, restaurant reservations, and more.
Special events and discounts: With Citi’s Private Pass that comes included with this card, you get presale access and discounted tickets to music, sporting events, and more.
Purchase protection: Purchases made with the Citi Diamond Preferred Car are insured against damage or theft up to $1,000 for 120 days from the date of purchase.
Extended warranty policy: With this card, terms of any factory warranty that is five years or less is extended for an additional year.
Travel and emergency assistance and insurance: Including medical and legal referrals, lost luggage assistance, emergency transportation, and translation services. Also, trip cancellation and interruption insurance reimburses up to $1,500 when things go sour for a covered reason.
And more: Auto rental insurance, Apple Pay compatibility, and Citi Price Rewind, which will refund the price difference if a product is offered for less at a competing retailer.
Costs
- No Annual Fee
- 0% Intro APR for the first 21 months on purchases and balance transfers
- Regular APR (after 21 months) of 12.24% – 22.24%
- 3% Balance Transfer Fee ($5 minimum)
- 3% Foreign Transaction Fee
Pros
- 0% Intro APR for 21 billing cycles is the main reason why you should get the Citi Diamond Preferred Card.
- Perks and benefits (outlined above) which are typically reserved for more premium cards.
- No annual fee – related to the previous point, this sort of benefits usually come with a price tag.
- Included travel assistance makes this card great for travel.
Cons
- With 21 month of 0% APR you may be tempted to just put off paying down your debt. Adding a note to your calendar will help prevent this from happening.
- Foreign transaction fees are kinda awkward for a card that’s made for travelers. Perhaps you should be using this card alongside another card that is especially made for travelling abroad.
Is This The Card For You?
The Citi Diamond Preferred Card is ideal for everyone trying to get a handle on their debt. Also, it makes perfect sense for those who can utilize all of its travel and shopping features as well as other benefits. As noted a few times above, this card comes with many of the perks a luxury card offers – without the annual fee.