![]() Unfortunately, the Diamond Preferred card charges a high balance transfer fee. See related: Best credit cards for large purchases Increased balance transfer fee Bank Visa® Platinum Card, which allows you to pay off new purchases (and balance transfers made in the first 60 days) over your first 18 billing cycles (18.74% to 29.74% variable APR after that). ![]() If you are looking for time to make payments on new purchases while avoiding interest, consider the U.S. This short intro APR period is especially disappointing since many low-interest cards offer longer intro APR periods on new purchases and a matching intro APR on balance transfers. But depending on the size of your purchase, 12 months may not be enough time for you. Whether you’re planning a move, home renovation or even a vacation, being able to spread out payments on large expenses with a card’s extra-long financing period could be a big help. You now get a 0% intro APR for your first 12 months on new purchases (18.24%–28.99% variable APR thereafter) – a six-month decrease from the card’s previous offer. Though the Citi Diamond Preferred Card got a boost via its extended intro APR period for balance transfers, it took a hit with a shortened introductory APR period on new purchases. Short 0% introductory APR on new purchases Make sure to consider your spending habits and other card options before you apply. Plus, if you’re assigned the card’s high-end APR, carrying a balance beyond your intro APR period could prove especially costly. If earning rewards is important to you or if you need a lengthy intro period on new purchases to pay off large expenses, the Citi Diamond Preferred Card may not be your best option. Unfortunately, though, you must be offered a Citi Flex Plan and not all cardholders are eligible. Since a Citi Flex Plan uses the existing credit line on your Citi card, you won’t have to fill out an application, go through a credit check or pay an origination fee. These rates could make a Citi Flex Plan cheaper than a cash advance (which poses a 29.99% variable APR), but be sure to read your plan terms carefully since some may charge an additional 1.72% monthly plan fee. As a Citi cardholder, you may be able to take advantage of a Citi Flex Plan, which allows you to borrow cash against your available credit limit and pay it back at a fixed interest rate over a set term of up to 60 months (depending on your creditworthiness). While it doesn’t carry many flashy perks, the Citi Diamond Preferred Card could come in handy if unexpected, major expenses pop up. See related: How to transfer a balance to a Citi credit card You can borrow against your available credit limit at a fixed rate Just be sure to transfer your balance early, as you must complete your balance transfer within four months of opening the account to take advantage of the promotional offer. If you’re looking for as much breathing room as possible as you chip away at your balance, having 21 months to pay down your balance could be exactly what you need. ![]() The Reflect card offers a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers (18.24%, 24.74%, or 29.99% variable APR after that) balance transfers made within 120 days qualify for the intro rate. There are only a few other cards that can match the Citi Diamond Preferred card’s balance transfer offer, including the Citi Simplicity® Card (which also offers a 0% intro APR on balance transfers for 21 months, followed by a 19.24% to 29.99% variable APR), the BankAmericard® credit card (which offers a 0% intro APR on both purchases and qualifying balance transfers for 21 billing cycles, followed by a 16.24% to 26.24% variable APR) and the Wells Fargo Reflect® Card. That’s three months longer than the card’s previous offer and easily beats out the offers you’ll find on many competing balance transfer cards, which typically offer introductory periods of 12 to 18 months. The Citi Diamond Preferred card comes with one of the longest 0% introductory APR offers for balance transfers on the market: You can get a 0% intro APR for 21 months, with an 18.24% to 28.99% variable APR thereafter. Long 0% introductory APR on balance transfers If you need a balance transfer card to pay off credit card debt or hit pause on your monthly interest charges, the Citi Diamond Preferred Card will likely stand out for its exceptionally introductory intro balance transfer APR. Why you might want the Citi Diamond Preferred Card ![]() The minimum credit card APR is below the current average interest rate, but your ongoing APR could be quite high after the introductory period.Short intro APR period on new purchases.No ongoing rewards program unlike some other cards with decent balance transfer offers.
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