|❯ Annual Fee: $0|
|❯ Purchase Intro APR: None|
|❯ Rewards Rate: None|
|❯ Transfer Intro APR: 0% for 18 months | Transfer Fee: 3% (min $5)|
|❯ Regular APR: 14.74% - 24.74% (V)|
The Citi Diamond Preferred Card offers 0% for 18 months on new purchases. It also gives 0% for 18 months on balance transfers completed within 4 months of account opening. Both Diamond Preferred’s 0% intro periods are longer than average.
The fact that Diamond Preferred charges a balance transfer fee should give you some pause. That’s in line with the average transfer fee (3%) but not even in the same league as credit cards with no balance transfer fee.
Citi Diamond Preferred’s intro rates will be replaced by a regular APR that is likely to be well above the market average. You’ll need excellent credit to get a rate at the low end of Diamond Preferred’s range: 14.74% – 24.74% (V). By comparison, the average APR among credit cards for people with excellent credit is 12.99%.
Most 0% APR credit cards have no annual fee. This still saves you about $19.76 per year versus the average credit card offer, though.
Without an annual fee to worry about, you’ll be able to devote more of your money to debt payments. And the lack of rewards isn’t too big of a deal. We recommend using separate cards for everyday purchases and financing, anyway.
With high marks from WalletHub’s users and editors, it’s clear this card is highly acclaimed. But you should still make sure to read a few Citi Diamond Preferred reviews before submitting an application, just to ensure you don’t miss anything important.