Citi Diamond Preferred card review: A good option for paying down debt
If you’re carrying credit card debt, the (see rates and fees) can give you a long runway to pay it down without accruing interest.
You won’t earn rewards on your spending, but with 21 months of 0% introductory APR on balance transfers, 12 months of 0% introductory APR on purchases and no annual fee, this card can help you get out of debt or finance a large purchase. After the introductory period ends, a variable APR of 16.49%-27.24% applies based on creditworthiness.Card rating*: ⭐⭐½
*Card rating is based on the opinion of TPG’s editors and is not influenced by the card issuer.
Citi Diamond Preferred: The basics
The is a no-annual-fee credit card designed primarily for balance transfers. New cardholders get 0% introductory APR on balance transfers for 21 months from the date of the first transfer, provided transfers are completed within four months of account opening. The card also offers 0% introductory APR on purchases for 12 months from account opening.
After the introductory period ends, a variable APR of 16.49%-27.24% applies based on creditworthiness.
The card doesn’t earn rewards, so it’s not a good choice for everyday spending once you’ve paid down your debt. Instead, its value comes from the interest you could save by moving high-interest debt to the card and paying it off during the introductory period. Alternatively, it’s good for paying down a large/unexpected purchase over time.
Citi Diamond Preferred pros and cons
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Citi Diamond Preferred benefits
The card also includes free access to your FICO Score, Citi Entertainment and Citi Flex Pay, though these are secondary benefits compared with the card’s balance-transfer offer.
21 months of 0% introductory APR on balance transfers
The Citi Diamond Preferred’s main selling point is its lengthy 0% introductory APR period on balance transfers. You can avoid interest on transferred debt for 21 months from the date of the first transfer, as long as the transfer is completed within four months of opening the account. After the introductory period ends, a variable APR of 16.49%-27.24% applies.
That’s nearly two years to pay down debt without interest charges piling up, which can be particularly valuable if you’re carrying a large balance on a card with a high interest rate.
Keep in mind that the card charges a 3% balance transfer fee, with a $5 minimum, for transfers completed during the first four months.
After the first four months, a 5% balance transfer fee applies, with a $5 minimum. That means you’ll want to factor the fee into your savings calculation before transferring a balance.
0% introductory APR on purchases
The also offers 0% introductory APR on purchases for 12 months from account opening. After the introductory period ends, a variable APR of 16.49%-27.24% applies.
This could be useful if you have a necessary expense you can’t comfortably pay all at once, such as an unexpected home or car repair, or if you’re facing significant upfront costs associated with a move.
However, I wouldn’t use the introductory APR as an excuse to take on unnecessary debt, and you’ll want a plan to pay off your purchases before the introductory period ends so you don’t start accruing interest on your purchase.
If you’re also transferring a balance, be especially careful about new purchases. Once the introductory purchase APR ends, interest can begin accruing on unpaid purchase balances even while you’re still in the introductory APR period for balance transfers.
Free FICO Score access
You’ll get free access to your FICO Score through Citi. This can be useful if you’re working to improve your credit while paying down debt and want to keep tabs on your score.
Citi Entertainment
The Citi Diamond Preferred also provides access to Citi Entertainment, which can give cardholders special access to tickets and presales for select concerts, sporting events, dining experiences and other events.
For example, Citi cardholders have received presale access for major 2026 tours, including USHER and Hilary Duff’s “The Lucky Me Tour.” Citi Entertainment has also offered complimentary tickets to select performances in the 2026 Citi Concert Series on TODAY.
It’s a nice extra, but it shouldn’t be a deciding factor for most people considering this card.
Related: What is Citi Entertainment? Get access to concert presale tickets, VIP events and more
Citi Flex Pay
The card also offers Citi Flex Pay, which allows you to split eligible purchases of $75 or more into fixed monthly payments. This can provide additional flexibility, although I wouldn’t prioritize this benefit when choosing a balance-transfer card.
This benefit isn’t particularly useful while you have access to the card’s introductory purchase APR, but it could provide another way to spread out eligible purchases after that offer ends.
Earning rewards on the Citi Diamond Preferred
There aren’t any rewards to earn with the . You won’t receive points, miles or cash back for your purchases.
If you can afford to pay for a purchase in full, you’ll generally get more value by using a rewards card and earning points, miles or cash back. The Citi Diamond Preferred is more useful when you need its introductory APR periods to finance a large purchase or pay down existing debt.
If you’re currently paying a high APR on credit card debt, however, the interest savings from a 0% balance transfer (for 21 months, then a variable APR of 16.49%-27.24% based on creditworthiness applies) could easily outweigh the value of rewards you’d earn elsewhere.
Related: How to choose the best credit card for you
Where the Citi Diamond Preferred could fall short
The biggest drawback to the Citi Diamond Preferred is that it doesn’t earn rewards.
Once you’ve paid off your transferred balance or initial purchases, there’s little reason to use the card for everyday purchases. If you can qualify for a card that offers a competitive balance-transfer period and rewards, that could be a better long-term option.
The balance transfer fee is another consideration. You’ll pay 3% of each balance transferred during the first four months, with a $5 minimum. After the first four months, a 5% balance transfer fee applies, with a $5 minimum.
On a $10,000 balance, for example, that would mean a $300 upfront fee. You’ll want to make sure the interest you save is greater than the fee you pay.
Related: How to choose a credit card with 0% APR
Is the Citi Diamond Preferred worth it?
The is worth considering if you have high-interest credit card debt and can realistically pay it off during the 21-month introductory balance-transfer period. Its lack of rewards makes it less compelling for people who don’t need to transfer debt.
When to apply for the Citi Diamond Preferred
The Citi Diamond Preferred currently offers 0% introductory APR on balance transfers for 21 months from the date of the first transfer, with transfers required within four months of account opening. It also offers 0% introductory APR on purchases for 12 months from account opening.
After the introductory period, a variable APR of 16.49% to 27.24% applies, based on creditworthiness.
We haven’t seen the card’s introductory APR offers change significantly for some time, so there’s little reason to wait for a substantially better offer if the card fits your needs now.
If you’re considering the card specifically for a balance transfer, the 21-month offer is the key number to watch when comparing it with other cards.
Related: The best way to pay your credit card bills
Other cards to consider instead of the Citi Diamond Preferred
Here’s a look at a few other cards to see if another provides more value for you:
- If you want to earn rewards: The (see rates and fees) offers a shorter introductory balance-transfer period than the Citi Diamond Preferred, but it earns unlimited 2% cash back on purchases: 1% when you buy and another 1% as you pay. That makes it a better long-term option if you want a card you’ll continue using after paying off your transferred balance. To learn more, read our full review of the Citi Double Cash.
- If you want more time to finance new purchases: The (see rates and fees) offers a lengthy introductory APR period on both qualifying balance transfers and purchases. To learn more, read our full review of the Wells Fargo Reflect Card.
- If you want an introductory APR plus additional perks: The offers 0% introductory APR on purchases and balance transfers for 12 billing cycles. After the introductory period ends, a variable APR of 16.24%-25.24% applies to purchases and balance transfers. It also offers cellphone protection and an annual statement credit opportunity, though it charges a higher balance transfer fee than the Citi Diamond Preferred.
For additional options, check out our full lists of the best credit cards with 0% APR and the best balance transfer credit cards.
Bottom line
The isn’t an everyday rewards card, but it does have a straightforward purpose of giving cardholders time to pay down high-interest debt without interest charges getting in the way.
If you can use its 21-month 0% APR introductory balance-transfer period (a variable APR of 16.49%-27.24% applies after the introductory period ends) to make meaningful progress toward paying off your balance, the potential interest savings could easily outweigh the card’s lack of rewards.
Just remember to account for the balance-transfer fee, avoid taking on unnecessary new debt and have a plan to pay off your balance before the introductory APR expires.
