Citi® Diamond Preferred® Card: 0% APR For 18 Months on Balance Transfers

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

One of the most common resolutions is to pay down debt. Rewards-earning credit cards may not be optimal for those carrying balances and thus more impacted by 18% interest rates than a relatively puny 2% back on purchases. Consider the Citi® Diamond Preferred® Card, which doesn’t offer a fancy rewards structure but has brought back their longest 0% APR intro balance transfer period. The highlights:

  • 0% Intro APR on balance transfers for 18 months from date of first transfer. All transfers must be completed in first 4 months.
  • 0% Intro APR on purchases for 18 months from date of account opening.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • No annual fee.

The strong part of this card is the long 18 month period, so you can spread out payments over 1.5 years and ideally pay it all off by the end. There is a 3% balance transfer fee ($5 min). However, if you’re currently paying 18% APR, then a 3% fee is the equivalent of paying 2 months of interest at that previous rate, and then you’ll still be left with 16 months at 0% interest.

Once the intro period on all 0% cards expire, the rates will go right back up. You’ll either need to pay it off or transfer your balance again if you need more time. This card lets you spread your payments out over 18 months instead of 6 or 12.

If you are certain that you can pay it off within a shorter time period, look for a card with no balance transfer fee. Compare with other low fee 0% APR balance transfer offers.

Bottom line. The Citi® Diamond Preferred® Card is a card targeted that for those serious about paying down their balances. The 0% introductory period of 18 months on balance transfers is the longest they offer, with a one-time 3% balance transfer fee ($5 min). No annual fee.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.



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