Citi® Diamond Preferred® Card 0% APR 18-Month Balance Transfer
- Credit Card:
Get 0% Intro APR for 18 months for purchases or balance transfer from Citi Diamond Preferred Card. Balance transfer fee $5 or 3% of the total amount transferred, whichever is higher. No annual fee, personal Concierge Service, special access to the best in live music, sports, dining, family entertainment and more.
Citibank is now offering 0% Intro APR balance transfer or purchase for 18 months for new cardholders of its Citi® Diamond Preferred® Card. If you are looking for a credit card with low interest rate to transfer balance accumulated during the holiday shopping period, this card may be exactly what you need.
The Citi Diamond Preferred® Card is a credit card that’s designed for people with good credit. Unlike a previous version of the card which rewards ThankYou Points to card members for using the card for every day purchases, the new Diamond Preferred® Card is essentially a plain credit card. With the Diamond Preferred® Card, you won’t be able to earn rewards by using the card. However, if you are looking for other benefits such as a longer introductory rate period, then this may be the card for you.
Basically, the Citi® Diamond Preferred® Card will give new cardholders an introductory rate of 0% APR on purchases and balance transfer for 18 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness. The promotional APR period is much longer than what we usually get about 12 months for the same deal from most card issuers these days. Of course, the longer the introductory period, the more flexible you could be when it comes to planing for big purchases, especially this holiday season. If you get the Diamond Preferred® Card and use it to buy a big ticket items, then you will not pay any interest for your purchases for 18 months as long as you make minimum payment every month during the introductory period. That’s almost two years without having to pay any interest. Not too bad, isn’t it?
So even though the card doesn’t offer the kind of perks you usually get from other rewards credit cards, you can still save some serious money by transferring balance from credit cards with high interest rates to the Citi® Diamond Preferred® Card to take advantage of the 18-month interest free period, especially if you have charged a lot on your credit cards this holiday season. The long introductory rate period makes the card a solid choice for one-time use. That is, you only want to get the this card in order to take advantage of its bonus offer and 0% APR promotion, not for every day use since it doesn’t offer any other rewards. Once you make the purchase that you have planned for with the card, and meet the spending requirement for the bonus, you would just put the card in your drawer and never use it again and after 18 months, you would just cancel the card.
Finally, if you are interested in the Citi® Diamond Preferred® Card, remember that the card has no annual membership fee, which means that you will keep all the profits from using the card (the bonus and the money saved with the 18-month, no interest loan). Ideally, you would want to use the card for purchases, not for balance transfer, because, even though you will also get 0% APR for 18 months for balance transfer, you will need to pay a balance transfer fee or either $5 or 3% for the amount transferred, whichever is greater, not as good as for purchases when there’s no other additional fee involved.
- $0 annual fee
- editor rating4
This article was originally written or modified on . If you enjoyed reading this post, please consider subscribing to my full RSS feed. Or you can also choose to have free daily updates delivered right to your inbox.