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Citi Diamond Most popular Card overview
The Citi® Diamond Most popular® Card does not earn rewards. As a substitute, it is geared towards folks seeking to keep away from curiosity whereas paying down bank card debt by way of a protracted introductory annual proportion fee (APR) supply. Whereas that may very well be an awesome profit for some, it is price evaluating the Citi Diamond Most popular to different playing cards with decrease steadiness switch charges and that provide rewards alongside the best way. Card score*: ⭐⭐½
*Card score is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
In the event you’re struggling to get forward on bank card funds and cut back your debt, a bank card providing a 0% introductory APR on steadiness transfers would possibly make it easier to.
After transferring your steadiness to the brand new card out of your present card, you may keep away from paying curiosity in your debt, doubtlessly saving tons of of {dollars} in curiosity every month.
The Citi Diamond Most popular Card has a longer-than-average introductory APR, which is good when attempting to pay down debt. Nevertheless, that comes on the expense of not having a rewards program on the cardboard and paying a higher-than-average steadiness switch charge. TPG recommends that these in search of to be permitted for the cardboard have a credit score rating of not less than 670.
Is that this the appropriate card for you? Let’s have a look.
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Citi Diamond Most popular Card execs and cons
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Citi Diamond Most popular Card welcome supply
There is no such thing as a bonus for brand spanking new candidates on the Citi Diamond Most popular to earn further money again or factors. As a substitute, the worth of this card will come from cash you save by decreasing your month-to-month curiosity.
New candidates can obtain an introductory 0% APR supply on steadiness transfers for 21 months from the date of the primary switch, although transfers should be accomplished inside 4 months from account opening. After the introductory interval, a variable APR of 17.74%-28.49% will apply, primarily based in your creditworthiness.
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The introductory 0% APR additionally applies to purchases made inside 12 months of account opening. After the introductory interval, a variable APR of 17.74%-28.49% applies (primarily based on creditworthiness; see charges and costs).
Observe that the Citi Diamond Most popular has a steadiness switch charge of $5 or 5% of the quantity of the switch, whichever is larger. Different playing cards with introductory steadiness switch affords have a 3% charge, so 5% is excessive. Transferring a $10,000 steadiness would incur $500 in charges.
You additionally can’t switch a steadiness greater than your credit score restrict, so take into account this once you apply for a brand new card and plan to switch a excessive greenback quantity.
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Citi Diamond Most popular Card advantages
The principal good thing about the Citi Diamond Most popular is its 0% introductory APR. This contactless bank card affords two further advantages, along with saving tons of or hundreds of {dollars} per 12 months attributable to a decreased rate of interest.
You may get free entry to your FICO credit score rating, which is able to make it easier to observe your rating as you utilize the Diamond Most popular card to pay down your bank card debt quicker.
You may additionally obtain entry to Citi Leisure, which supplies particular entry to unique occasions or early presales on tickets, identical to Citi Leisure did with Beyoncé tickets.
Since this card does not have an annual charge, it does not supply further perks like prolonged guarantee safety, rental automobile insurance coverage or misplaced baggage insurance coverage to your travels. In the event you’re searching for these advantages, you might want a journey rewards bank card as an alternative.
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Incomes rewards on the Citi Diamond Most popular Card
Sadly, you will not earn any factors, miles or money again with the Citi Diamond Most popular Card. As a substitute, the cardboard is concentrated on serving to you pay down debt by way of a protracted introductory APR interval for purchases and steadiness transfers.
That stated, there are playing cards providing 0% introductory APR for 15 billing durations for any steadiness transfers made within the first 60 days. After that, a variable APR that is at the moment 18.74% — 28.74% will apply whereas nonetheless offering rewards on new purchases (you will not earn rewards or money again on steadiness transfers). Examples embrace the Financial institution of America® Custom-made Money Rewards bank card and the Citi Double Money® Card (see Citi Diamond Most popular charges and costs; see Citi Double Money charges and costs).
Redeeming rewards on the Citi Diamond Most popular Card
As you will not earn any rewards, you don’t have anything to redeem. Think about this trade-off as you lower your expenses by way of a 0% APR supply and evaluate the worth of cash saved to the worth of rewards you would possibly earn from one other card (by way of on a regular basis spending or a welcome bonus) to see which is healthier to your state of affairs.
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Which playing cards compete with the Citi Diamond Most popular Card?
This is not the one card with a 0% introductory APR supply. This is a have a look at a couple of different playing cards to see if one other supplies extra worth for you.
- In order for you a steadiness switch with a decrease charge: The Financial institution of America Custom-made Money Rewards bank card affords a 0% introductory APR for 15 billing cycles and any steadiness transfers made within the first 60 days; after that, a variable APR of 18.74% — 28.74% will apply. A 3% Intro steadiness switch charge will apply for the primary 60 days your account is open. After the Intro steadiness switch charge supply ends, the charge for future steadiness transfers is 4%. You may additionally earn 3% money again in your prime spending class every month and will not pay an annual charge. For extra info, try our full evaluation of the Custom-made Money Rewards card.
- If you wish to earn rewards on purchases additionally: The Citi Double Money Card has no annual charge and a 0% introductory APR on steadiness transfers for 18 months. After the introductory interval, the variable APR is eighteen.74%-28.74%. Stability transfers have a 3% charge (minimal of $5) for the primary 4 months, then 5% (minimal of $5). With this card, you may earn Citi ThankYou factors, which you’ll be able to money out or use with journey companions to economize on a trip. For extra info, try our full evaluation of the Citi Double Money.
- If you need further money again plus a steadiness switch: The Uncover it® Money Again Credit score Card has no annual charge and a 0% introductory APR for steadiness transfers and purchases for 15 months. There is a 3% steadiness switch charge and a variable APR of 17.24%-28.24% after the introductory interval. You may additionally earn as much as 5% again on purchases, plus Uncover will match your money again on the finish of the primary 12 months. For extra info, try our full evaluation of the Uncover It Money Again card.
For added choices, try our full lists of the finest bank cards with no annual charge, the finest bank cards with 0% APR and the finest steadiness switch bank cards.
The data for the Uncover it Money Again card has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or offered by the cardboard issuer.
Is the Citi Diamond Most popular Card price it?
Those that are extra fascinated by slicing curiosity whereas paying down debt could also be prepared to open a bank card that does not have a welcome bonus and does not earn rewards. Whereas different playing cards have higher earnings, the Citi Diamond Most popular has an extended introductory APR interval (21 months), which might offer you huge financial savings in the long term.
Backside line
Avoiding curiosity for 21 months might make it easier to cut back stress and lower your expenses if in case you have vital bank card debt. Nevertheless, you’ll pay a charge to switch your steadiness(s) to the Citi Diamond Most popular. Nonetheless, these seeking to get out of bank card debt could also be prepared to forgo rewards and welcome bonuses in favor of some extra months of not paying curiosity.
Study extra: Citi Diamond Most popular Card
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