9 Citi Diamond Preferred Card Benefits That You Didn’t Know About
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Written by
Paige Cerulli
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Edited by
Emily Gadd, CCC™
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Reviewed by
Jasmin Baron, CCC™
If you’re struggling to pay off credit card balances because of rapidly growing interest, the Citi® Diamond Preferred® Card, an advertising partner, could give you a break so you have time to catch up.
The Diamond Preferred Card stands out for its introductory annual percentage rate (APR): 0% intro APR for 12 months on Purchases and 21 months on Balance Transfers then 16.49% - 27.24% (Variable) APR. This offer gives you nearly two years to pay off balances from other cards without incurring interest, as long as you make your minimum monthly payments on time. That’s why it ranks highly on our list of the best balance transfer credit cards.
While it’s mostly a no-frills card otherwise, you’ll find several other perks that may make the Citi Diamond Preferred Card worth it. Here’s a closer look at Citi Diamond Preferred benefits to help you decide if it’s the right fit for your wallet.
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1. No Annual Fee
There is no annual fee for the Diamond Preferred Card, so you can enjoy the introductory APR benefits without an upfront cost.
2. Long Introductory APR Period
The Citi Diamond Preferred Card features a 0% intro APR for 12 months on Purchases. Once the introductory period ends, the APR is 16.49% - 27.24% (Variable) depending on your creditworthiness.
While the introductory period for purchases is about average for low-APR credit cards, the Diamond Preferred Card shines for its unusually long introductory APR period for balance transfers. New cardholders receive a 0% intro APR for 21 months on Balance Transfers, followed by a 16.49% - 27.24% (Variable) APR. Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Most balance transfer credit cards offer 0% APR periods from 12 to 18 months, making the Diamond Preferred Card’s introductory period one of the longest available.
This long introductory period gives you extra time to pay down your existing debt without accruing additional interest, and it may help you catch up on your credit card payments or even pay off your debt entirely. If you would prefer to pay a slightly lower balance transfer fee, the Citi Simplicity® Card is worth considering.
3. Choose Your Payment Due Date
Citi allows cardholders to choose their payment due date. This policy gives you the flexibility to pay your bill at the beginning, middle or end of the month, so you can choose a date that works well for your finances, such as after you’ve received a paycheck.
4. Automatic Account Alerts
You can also set up account alerts to stay on top of your account details. You can receive automated reminders about your credit card balance, upcoming payments and if you exceed your credit limit. These automated alerts are available via email or directly on your mobile phone.
5. Virtual Cards
With Citi, you can set up virtual credit cards for safer and easier online shopping. With a Citi virtual credit card, your real card number is hidden, so it’s never shared with the merchant. Using a virtual credit card is a smart move, whether you’re shopping with an unfamiliar website, signing up for a free trial subscription or needing a card for a one-time purchase.
Virtual credit cards can help protect you from fraud and data leaks, and you can cancel them at any time without affecting your actual card account. Plus, you’re not responsible for any unauthorized purchases, just as when you use your physical credit card.
6. Contactless Pay and Digital Wallets
Your contactless chip-enabled card supports contactless pay. You can just tap your card on a contactless payment reader for fast and easy checkout in stores.
Similarly, you can add your card to digital wallets such as Apple Pay, Google Pay and PayPal to make online and in-person shopping even more secure and convenient.
7. Identity Theft Protection
With the Citi Diamond Preferred Card, you can access Mastercard’s® ID Theft Protection Program. The program monitors your protected information and alerts you if it finds any suspicious activity. You can enroll for free in just a few minutes.
8. $0 Liability for Unauthorized Charges
Citi won’t hold you responsible for any credit card charges that you didn’t authorize. This $0 liability applies to online purchases, too.
9. Citi Entertainment
Your Diamond Preferred Card gives you access to the Citi Entertainment® platform, which offers special access and presale tickets to concerts, sporting events and exclusive experiences.
Bottom Line
The main Citi Diamond Preferred Card benefit is its introductory APR offer, especially for balance transfers. This feature can give you a breather from interest, allowing you to take control of your debt and pay down your balances faster.
While it doesn’t offer the rewards and perks you’ll often find on cash-back credit cards or travel credit cards, the Diamond Preferred Card is a helpful option if you’re trying to consolidate debt and need a break from high interest to help you get ahead.
Frequently Asked Questions About Citi Diamond Preferred Card Benefits
What are the benefits of having the Citi Diamond Preferred Card?
The Diamond Preferred Card offers an 0% intro APR for 12 months on Purchases and 21 months on Balance Transfers then 16.49% - 27.24% (Variable) APR. This gives you extra time to pay off existing debt without worrying about high interest charges.
Does the Citi Diamond Preferred Card earn rewards?
No, the Diamond Preferred Card doesn’t earn rewards or come with a welcome bonus. Check out our guide to the best rewards credit cards for options that earn cash back, points or miles (and some even come with an introductory APR).
Does the Citi Diamond Preferred Card have travel insurance?
The Diamond Preferred Card doesn’t offer travel insurance. The card’s main value is in its extended low APR periods.
Is the Citi Diamond Preferred Card hard to get?
Citi recommends having good to excellent credit for the best chance of approval for the Diamond Preferred Card. If you don’t have a credit history or are working to improve your credit score, consider a secured credit card or a card designed for those with fair credit.
Does the Citi Diamond Preferred Card charge foreign transaction fees?
Yes, the Citi Diamond Preferred Card charges a foreign transaction fee of 3% on purchases made outside the U.S. If you’re traveling internationally, consider packing one of the best credit cards with no foreign transaction fees instead.
Is the Citi Diamond Preferred Card a high-limit credit card?
The Diamond Preferred Card isn’t considered a high-limit credit card. Its credit limit ranges from $500 to over $10,000, but your limit will depend on your credit score, income and other factors.
