Citi Simplicity Card vs. Diamond Preferred Card: Comparing Long Intro APR Offers and Key Benefits
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Written by
Harlan Vaughn
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Edited by
Emily Gadd, CCC™
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Reviewed by
Jasmin Baron, CCC™
Citi, our advertising partner, offers two credit cards with virtually identical benefits: the Citi Simplicity® Card and Citi® Diamond Preferred® Card. While they have many similarities, their introductory annual percentage rates (APRs) differ.
Additionally, while the Citi Diamond Preferred Card has a slightly lower ongoing APR, it’s not meaningful enough. If you’re choosing between the two, you’ll need to decide whether you primarily want an intro APR on purchases, balance transfers or both.
Here’s what to consider if you’re weighing the Citi Simplicity vs. Citi Diamond Preferred.
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How the Cards Compare: Citi Simplicity vs. Diamond Preferred
Side By Side Comparison
Annual Fee
Intro Purchase APR
Intro Balance Transfer APR
Ongoing APR
Balance Transfer Fee
Pros & Cons
- Low intro balance transfer fee
- Generous intro balance transfer period
- Choose your payment due date
PROS
- After the intro period, the variable APR for balance transfers and purchases is high
- Balance transfer fee increases after the first four months
- No ongoing rewards program
CONS
- Very long intro APR on balance transfers
- No annual fee
- Free FICO® score access
PROS
- Shorter intro APR on purchases
- Balance transfer fee increases after the first four months
- No ongoing rewards program
CONS
Learn More
Welcome Bonuses
Neither card offers a welcome bonus, unless you count their intro APR offers, which put them among the best low APR credit cards and best balance transfer credit cards. There are no rewards for purchases made after you open either card.
Citi Simplicity Welcome Bonus
With the Citi Simplicity Card, you can take advantage of 0% Intro APR on purchases and balance transfers for 18 months, then 17.49% - 28.24% (Variable) APR. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Citi Diamond Preferred Welcome Bonus
The Citi Diamond Preferred Card has a longer intro APR period on balance transfers, but a shorter offer for purchases: 0% intro APR for 12 months on Purchases and 21 months on Balance Transfers then 16.49% - 27.24% (Variable) APR. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
CardCritics™ Opinion
If you’re looking to save on interest with a balance transfer, the Citi Diamond Preferred Card is the winner with a longer intro period. However, if you have big purchases coming up that you want to pay off over time, the Citi Simplicity Card is the better pick.
Card Benefits
As Citi credit cards, the Simplicity and Diamond Preferred let you use the Citi Entertainment® platform for access to special tickets to concerts and other events, plus free credit score monitoring and no annual fee. You’ll also get Citi Merchant offers, which are deals you can add to your card.
But these cards are about as skimpy as they come. With no rewards or other built-in benefits, the spotlight is really on the low-interest welcome offers.
Citi Simplicity Benefits
Citi Simplicity benefits include no late fees and no penalty rate, which, if you’re the forgetful type or new to managing a credit card, is an excellent perk to give yourself extra wiggle room. The Citi Diamond Preferred Card doesn’t offer this, so it’s another reason to go ahead and choose the Citi Simplicity Card, all else being equal.
Citi Diamond Preferred Benefits
Other than what we’ve already mentioned, that’s about the full scope of Citi Diamond Preferred benefits: free credit score access, Citi Entertainment and zero liability for unauthorized charges (which is a pretty standard benefit with most credit cards these days). Here’s more about how to know if the Citi Diamond Preferred is worth it for you.
CardCritics™ Opinion
The lack of late fees and penalty fees gives the Citi Simplicity Card a slight advantage; however, if you consistently pay your credit card bills on time, this isn’t a factor.
Fees and Costs
The biggest differences are the marginally lower ongoing APR range on the Diamond Preferred Card and the APR offers on either card.
Citi Simplicity Fees and Costs
With the Citi Simplicity Card, you get:
- 0% intro APR for 18 months on Purchases, followed by a 17.49% - 28.24% (Variable) APR
- 0% intro APR for 18 months on Balance Transfers when transfers are completed within four months from the date of account opening, followed by a 17.49% - 28.24% (Variable) APR
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5)
- Late payment fee: None
- Penalty fee: None
- Foreign transaction fee: 3%
Citi Diamond Preferred Benefits Fees and Costs
When you go with the Citi Diamond Preferred Card, you get:
- 0% intro APR for 12 months on Purchases, followed by a 16.49% - 27.24% (Variable) APR
- 0% intro APR for 21 months on Balance Transfers when transfers are completed within four months from the date of account opening, followed by a 16.49% - 27.24% (Variable) APR
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Late payment fee: Up to $41
- Penalty APR: Up to 29.99%, depending on creditworthiness
- Foreign transaction fee: 3%
CardCritics™ Opinion
Instead of risking a late fee or penalty APR, you could remove this from the equation by going with the Citi Simplicity Card to begin with. The minor difference in ongoing APRs isn’t enough to sway you from one to the other, but again, consider how you’ll use the intro APRs to decide which is right for you.
How To Choose Between Citi Simplicity and Diamond Preferred
The Citi Simplicity Card and Citi Diamond Preferred Card are equally matched except for their intro APR offers, ongoing APRs, late fees and penalty rates. Here’s how to pick the right card for you.
When To Choose the Citi Simplicity
The Citi Simplicity Card is a good choice if you:
- Need a long intro APR on both purchases and balance transfers
- Want the reassurance of no late fee or penalty rates in case you’re late on a payment
When To Choose the Citi Diamond Preferred
Meanwhile, the Citi Diamond Preferred Card is a better pick if you:
- Will use the card primarily for balance transfers and prefer an extra-long intro APR
- Have confidence that you’ll pay your credit card bill on time, every time
Otherwise, both cards offer the same benefits (which are limited) and require the same overall credit profile.
My overall recommendation is the Citi Simplicity Card. Its introductory APR appeals to a broader range of cardholders, and the difference in balance transfer intro period duration is just three months compared to the Diamond Preferred Card. Unless you really need the extra time to pay down your balance transfer, go with the Simplicity Card and call it a day.
Frequently Asked Questions About the Citi Simplicity and Diamond Preferred
What is the difference between Citi Diamond Preferred and Citi Simplicity?
The main difference between the Citi Diamond Preferred Card and Simplicity Card is their introductory APRs. With the Simplicity, you’ll get the same intro offer duration for purchases and balance transfers (0% Intro APR on purchases and balance transfers for 18 months, then 17.49% - 28.24% (Variable)). The Diamond Preferred Card has a slightly longer intro APR on balance transfers and a shorter one on purchases (0% intro APR for 12 months on Purchases and 21 months on Balance Transfers then 16.49% - 27.24% (Variable)). In addition, the Simplicity Card doesn’t charge late fees or penalty rates.
What are the disadvantages of the Citi Simplicity Card?
The Citi Simplicity Card doesn’t come with a welcome bonus or reward points, but it offers a strong introductory APR.
Is the Citi Diamond Preferred Card hard to get?
To have the best chance of qualifying for the Citi Diamond Preferred Card, you’ll need at least a good credit score (a FICO score of 670 or better).
What is the credit limit for the Citi Diamond Preferred Card?
The credit limit you receive with the Citi Diamond Preferred Card will depend on your credit profile, income and other factors. According to Citi’s website, the minimum credit limit is $500.
What is the credit limit for the Citi Simplicity Card?
With the Citi Simplicity Card, your credit limit will also vary based on your creditworthiness, income and other factors. Citi’s website says the minimum credit limit is $500.
