Editorial and user-generated content is not provided, reviewed or endorsed by any company. In this case, see if the interest savings outweigh the costs resulting from balance transfer fees in your case. One security feature that stands out is Citi Quick Lock. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. But this compensation does not influence the information we publish, or the reviews that you see on this site. To apply, you need to provide personal information like your name, date of birth, address and Social Security Number, along with all relevant financial information. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available. At Bankrate, we have a mission to demystify the credit cards industry regardless or where you are in your journey and make it one you can navigate with confidence. There is a foreign transaction fee of 3% of each transaction on this card. Citi offers several other credit cards, including the Citi Double Cash Card and the Citi Simplicity Card. 2022 Bankrate, LLC. Citi will help keep your identity safe by resolving identity theft issues quickly to help you get your life back on track. WalletHub Answers is a free service that helps consumers access financial information. Our editorial team does not receive direct compensation from our advertisers. Coverage.com services are only available in states where it is licensed. If you are getting this card as your first or only card, make sure that you work out if the benefits outweigh the costs. In this Citi Diamond Preferred Card review, we evaluate the features and benefits of the card. While we make no assumption as to whether balances are carried on a given card we do assign varying weights to all credit cards introductory APR (if present) in addition to the regular, long term purchase and balance transfer interest rates. What information is needed to apply for the Citi Diamond Preferred Card? So is the Costco Anywhere Visa Card by Citi, which also comes with a $0 annual fee. You have more time to pay down the principal, and if the interest savings are enough to overcome the balance transfer fee, this card can be a good fit. Does the Citi Diamond Preferred Card offer the option to freeze your credit/account or have other security features? We are an independent, advertising-supported comparison service. Holly Johnson writes expert content on personal finance, credit cards, loyalty and insurance topics. So if you plan on traveling abroad, you should consider using a different card with no foreign transaction fee for your travels. INTERESTED IN COMPARING THE BEST CREDIT CARDS OF 2022? We utilize BLS (U.S. Bureau of Labor Statistics) income and average category spending data to calculate annual earnings rates for rewards cards that offer cash back, points or miles rewards at a set rate on all spending or in consideration of bonus rewards for certain spending categories, like gasoline, groceries, restaurants or travel. However, the same $450 monthly payment would leave you debt-free in 19 months and you would pay $0 in interest along the way. Virtual account numbers for shopping online or by mail. The application process is simple and takes only minutes. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. Here are some commonly asked questions about the Citi Diamond Preferred Card that can help you decide whether or not you should apply for it.

The Citi Diamond Preferred doesnt charge an annual fee, but you will get an introductory 0 percent APR on purchases for 12 months and on balance transfers for 21 months, followed by a variable APR of 15.24 percent to 25.24 percent . Citi has a process for getting customers pre-approved. This card does not offer a rewards program. We recommend visiting the card issuers website for the most up-to-date information available. Once again, you need to budget wisely and plan for the long-term so that you remain financially comfortable once the 0% APR offer ends. This feature allows you to block cash advances and purchases instantly if you cant locate your card. Other credit card companies charge foreign transaction fees on some, or even most, of their cards.

@m_adams This information may be different than what you see when you visit a financial institution, service provider or specific products site. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Before you decide if the Citi Diamond Preferred is worth signing up for, you need to think over all of its benefits and how they might apply to your situation. Our recommended ranges are based off of the FICO Score 8 credit-scoring model. Offers Card(s) with No Foreign Transaction Fee ? Here is a list of our partners. After that, up to 5% for each balance transfer, with a minimum of $5. Citi Diamond Preferred has a $0 annual fee. Which certificate of deposit account is best? Customers can decide when they want to pay their bill for added account flexibility. If you want to earn cash back or travel rewards, consider card options with an introductory interest rate offer and a rewards program. There is no annual fee for the Citi Diamond Preferred Card. There is no way to transfer Easy Deals points to other programs. We are committed to being fully transparent with our readers. Its important to note that for our overall score that we make a number of assumptions about how you would be using your credit card: Citi Diamond Preferred Credit Card Review. With the Citi Diamond Preferred, there are no reward points of any kind. With this program, you earn points according to 10% of your monthly spends and you can have access to special entertainment and dining experience through Citi Entertainment. However, if you're looking for more traditional rewards, there are better choices.

For example, say you have a credit card balance of $5,000, which comes out to $5,250 after adding in the balance transfer fee of 5 percent. Either $10 or 3% of the amount of each transfer, whichever is greater. Automatic payments, like bill pay, continue while the card is locked. Disclaimer: Credit card offers are constantly changing.

Standard message rates apply. Card users can easily set up alerts to stay up to date on their balances, when payments are due and more. Consistently provide up-to-date, reliable market information so you\'re well-equipped to make confident decisions. After all, any remaining balances will be charged the regular variable APR rate of 15.24 percent to 25.24 percent after 21 months are up. While the Citi Diamond Preferred card is a great value balance transfer card, it is important for you to fully understand its pros and cons before you apply for it. This compensation may impact how, where and in what order products appear. So that means it applies to online purchases, too. And some credit card companies, such as Capital One, dont charge foreign fees on any of their cards, Visa or Mastercard. For the most part, this depends on how you plan to use it. You have money questions. We collect information from the Consumer Finance Protection Bureau database, standardize data points for fair comparison, estimate average spend profiles, determine long-term value and frequently re-rank our top cards. Bank of America Travel Rewards Credit Card for Students, Bank of America Premium Rewards credit card. While the Citi Diamond Preferred Card doesnt offer any rewards on your spending, it is one of the best credit cards for balance transfers available today. The card comes with a generous 18 months of 0% APR. Consider the following example: Imagine you have $8,000 in credit card debt at a 21 percent APR and that you just created a budget that will allow you to pay $450 per month toward your balance. Bankrate.com does not include all companies or all available products. Additionally, there are a couple of other factors to consider before applying for the Citi Diamond Preferred: To qualify for the Citi Diamond Preferred Card, its recommended that you have a credit score in the good to excellent range (670 to 850). This gives you a long time where you can finance new purchases or consolidate debt without worrying about interest payments." Information on WalletHub Answers is provided as is and should not be considered financial, legal or investment advice. What is the average credit score needed to get approved for the Citi Diamond Preferred Card? The 0% APR is valid for both new spending and balance transfers, making it a great card if you want to consolidate debt. Power's 2021 Credit Card Satisfaction Study.

The low interest offer for purchases you get with this card can be enticing but it can also lead you to rack up balances you cant afford to pay off. You can freeze your card online. We value your trust. The points cardholders earn with the Citi Easy Deals program can be applied for discounts on gift cards, merchandise, travel, and magazine subscriptions. Disclaimer: NerdWallet strives to keep its information accurate and up to date. The best way to make the most of Easy Deals points is to use them to buy discounted gift cards for places you normally shop at, reducing your overall costs. Whether the Citi Diamond Preferred card is a good fit for you depends on how you plan to use it and whether you plan to use it as your first or only credit card or in addition to other cards you already use. Opinions expressed here are the authors and/or WalletHub editors'. Before applying for any credit card, its important you understand the fine print so that you are not caught off guard by fees or terms. Citi also offers a concierge service to help with travel, shopping, and exclusive experiences. This offer makes it easy to consolidate and pay down debt or finance a large purchase as inexpensively as possible. Citi was tied for 5th out of 11 card issuers in J.D.

Our experts have been helping you master your money for over four decades. The Citi Diamond Preferred card is a great option for people who want to finance new purchases while avoiding interest payments. This makes it a good choice for debt consolidation and a prime option for interest-averse customers looking to finance new purchases. Whether you want an introductory 0 percent APR on purchases, balance transfers or both, the Citi Diamond Preferred is a top card to consider. The biggest perk of this card is the introductory 0% APR offer. This benefit can help you plan debt repayment around your payday or a specific day of the month when you prefer to pay bills. You need good to excellent credit to qualify. While its difficult to list every Visas foreign transaction fee the are a ton of Visa cards we can go over a few popular examples. Our goal is to give you the best advice to help you make smart personal finance decisions.

American Express Marriott Bonvoy Business Card, American Express Delta SkyMiles Gold Card, PenFed Power Cash Rewards Visa Signature Card, American Express Delta SkyMiles Platinum Business Card, U.S. Bank Altitude Connect Visa Signature Card, American Express Delta SkyMiles Platinum Card, .css-9seimi{position:static;-webkit-text-decoration:none;text-decoration:none;color:var(--chakra-colors-mg-navy);}.css-9seimi::before{content:'';cursor:inherit;display:block;position:absolute;top:0px;left:0px;z-index:1;width:100%;height:100%;}Business vs. Corporate Credit Cards. How much should you contribute to your 401(k)? Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever is greater, for 120 days from account opening. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. Our opinions are our own. Editorial and user-generated content is not provided, reviewed or endorsed by any company. $0 intro fee for the first 60 days your account is open, then either $5 or 5%, whichever is greater. There is a fee for foreign transactions, so this card is not ideal for frequent international use. Terms apply to the offers listed on this page. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. California Consumer Financial Privacy Notice. If you compare the Citi Diamond Preferred card with other balance transfer cards, take a look at the balance transfer fees and the length of the introductory 0% APR period for the best deal. Thats definitely a good idea before traveling (or shopping) abroad, since Visa is. Intro fee of 3% ($5 minimum) for the first 120 days your account is open, then 5% ($5 minimum). Issuers charge foreign transaction fees on purchases made outside the U.S., whether in-person or online. As you can see, there are a lot of opportunities to get a Visa card with no foreign transaction fee. This cards regular APR is 15.24% - 25.24% (V). Best Personal Loans for Debt Consolidation, Best Personal Loans with Low-Interest Rates, Best Personal Loans with Low-Income Limits, Student Loan Forgiveness and Cancellation, Resources for Workers: Layoffs & Lost Wages, Financial Strategies for Freelancers & Gig workers, Protecting Your Employees: Business Owners Guide, Claiming Losses on Covid-19 Small Business Insurance, 6 Tips for Starting a Business During Coronavirus, 8 Ways to Cut Spending During Coronavirus, Negotiating & Paying Bills During Coronavirus, Organizations Offering Help During Covid-19, BALANCE TRANSFERS WITH CITI: AN IN-DEPTH GUIDE. If you find your card, you can unlock it, but if you dont, you can have a new card sent to you. The offers that appear on this site are from companies that compensate us. Intro fee of 3% of the amount of each transfer for transfers that post to your account by July 10, 2022 and up to 5% fee for future balance transfers will apply. The Visa foreign transaction fee is typically 0% on travel rewards credit cards, which are built for spending all around the world. The Citi Diamond Preferred Card is a great choice if you are looking for a balance transfer card with a long 0% APR introductory offer. Enter your cell phone number and well send you a link to install the WalletHub app. We may receive compensation if you visit partners we recommend. What are the Discover card colors options? Citi Diamond Preferred Card. If your Visa card does have a foreign transaction fee, youll have to pay it any time you make a purchase from a merchant thats based in a country other than the U.S. Other standard fees can generally be avoided, such as those for paying late or taking cash advances but we rate those relative to other cards in the market for reference, though with less weight assigned. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The Visa foreign transaction fee is usually either 0% or 3%, depending on which Visa credit card or debit card you have. The 21-month introductory period provides a substantial amount of time for dramatically paying down high-interest debt. Does Citi offer other credit cards besides the Citi Diamond Preferred Card? You can reach a customer service representative 24 hours a day, seven days a week, to help with any issues that arise with your account. The Citi Diamond Preferred card is best for someone looking to reduce debt using a 0% APR balance transfer.

Discover it Cash Back vs. Citi Diamond Preferred: Which is better for a balance transfer? The Citi Diamond Preferred foreign transaction fee is 3%. We rate both introductory APR percentage and length (in months) along with the midpoint of the variable regular APR interest rate range. mpanies charge foreign transaction fees on some, or even most, of their cards. The reason credit card companies charge foreign transaction fees is to help pay for the costs of currency conversion in international purchases. Does the Citi Diamond Preferred Card have a mobile app or the option to pay or manage your account online? Card users can access their FICO score through their online card account to stay up to date on their credit score.

When evaluating offers, please review the financial institutions Terms and Conditions. Pre-qualified offers are not binding. Citi Diamond Preferreds 3% foreign fee and lack of ongoing rewards make it the wrong choice for international travel, but its low introductory APR can still help you save on interest stateside. OK92033): Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, 0% Intro APR for 21 months on Balance Transfers and 12 months on Purchases, and then the ongoing APR of 15.24%-25.24% Variable APR. Read on to find out about the major cardholder benefits of the Citi Diamond Preferred as well as how you can decide if its worth it or not for you. What are index funds and how do they work? Does the Citi Diamond Preferred Card raise credit limits automatically or charge for limit increases? Not only that, but you can pick your own payment due date. So how do we make money? What's the Citibank foreign transaction fee? Citi offers a number of security features to help provide cardholders with peace of mind. At this rate, you could pay off this debt in 22 months, although you would fork over $1,680 in interest in the process. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels.

Check out our top picks for balance transfer cards in 2022. The Citi Diamond Preferred Card is a contactless, chip-enabled card, so you can simply tap your card on the payment reader to pay when you shop.

You would then need to pay $250 per month to become debt-free before your offer is over ($5,250 divided by 21 months = $250 per month). Balance transfer fees are occasionally waived during introductory periods with certain cards, a factor which is heavily and positively weighted in our scoring model for cards offering this benefit. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. The Citi Diamond Preferred card offers a fairly long 0% APR introductory periodcurrently 21 monthsfor balance transfers made in the first 4 months of opening the account and for 12 months on purchases. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence. Many or all of the products featured here are from our partners who compensate us. Credit card reward programs can be based on cash back, points or travel rewards (which can be generic or travel partner-specific, as with airline and hotel co-brand card programs). Additionally, the card can be a good choice for consumers who value entertainment experiences and presale tickets. Property, casualty, life and health insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. When charged, balance transfer fees range between 3% - 5%, which we grade accordingly. For cards that offer rewards we determine the value per dollar spent along with average redemption values and assign more favorable ratings to cards that offer superior consumer value. The bank received a below average score. So, whether youre reading an article or a review, you can trust that youre getting credible and dependable information. You can get in touch with Citi support through online chat or the 24/7 phone helpline. Learn more: How to do a balance transfer with Citi. For example, be aware of the absence of reward points and monitor your spending to see if you can benefit from the Citi offers that come bundled with the card. The same applies for balance transfers. What are the major credit card foreign transaction fees? With this cards access to Citi Entertainment, cardholders can purchase tickets to concerts and events before they're available to the general public, as well as buy exclusive packages with VIP experiences. Investopedia is committed to delivering the best credit card recommendations in the industry. We also assign value to sign-up bonus offers and their initial spending requirements, when present. This answer was first published on 05/07/21 and it was last updated on 04/05/22. The card doesn't earn rewards or offer incentives to use it once you've paid off your balance, but the long interest-free window could make it a worthy get-out-of-debt card for the right applicant. Now imagine you transferred that debt to the Citi Diamond Preferred to get an introductory 0 percent APR for 21 months (15.24 percent to 25.24 percent variable APR after).

You can also find information through the credit card agreement database maintained by the Consumer Financial Protection Bureau (CFPB).

With no annual fee, you do not have to worry about annual spending to keep the card account. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. While the Citi Diamond Preferred card benefits are on the lighter side, you do get access to a perk known as Citi Entertainment. Many cards offer 0% introductory APR on purchases and balance transfers for varying lengths and then revert to a permanent or regular APR (based on a variable rate tied to the prime rate) that applies to any balances not paid in full. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Common Citi Entertainment events include concerts, dining experiences, sporting events and more. Is the Citi Diamond Preferred Card application process lengthy? Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Therefore, this compensation may impact how, where and in what order products appear within listing categories.

With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. We determine the maximum points value of rewards cards by dividing the points, cash back or miles required to exchange for the retail price of the most valuable redemption option (for example, in the case of a card that offers a domestic roundtrip airline ticket as a redemption option vs. another redemption option of lesser value that requires the same amount of points or miles to acquire, we would base the rewards value on the airline ticket). Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. The Citi Diamond Preferred Card is not one of our top-rated balance transfer credit cards. If you are not sure about the Citi Diamond Preferred Card, you can check out our top picks for balance transfer cards for other options. The information on this site does not modify any insurance policy terms in any way. You have to register with Citi Easy Deals to see how many points you have available. First 60 days after account opening: Either $10 or 3% of the amount of each balance transfer, whichever is greater. All financial products, shopping products and services are presented without warranty. With that said, there are other 0 percent interest credit cards to consider, including ones that let you earn rewards on your purchases. It offers a 0% intro APR on purchases for 12 months and an intro APR of 0% for 21 months on balance transfers.