Review: Citi Diamond Preferred Credit Card

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Review: Citi Diamond Preferred Credit Card

Are you looking for a credit card that offers low-interest rates, exclusive benefits, and rewards? Look no further than the Citi Diamond Preferred Credit Card. In this review, we will explore the features, benefits, and drawbacks of this popular credit card.

Features

The Citi Diamond Preferred Credit Card offers an impressive spread of features to its users. One of the most outstanding features is the 0% Intro APR on purchases and balance transfers for 18 months. This is a substantial benefit that lets cardholders save money on interest expenses during the introductory period. After the 18 months, the interest rate is variable based on the market rate, currently being between 13.74% – 23.74% for purchases and balance transfers.

Cardholders can also enjoy online access around the clock, account alerts, mobile banking, and payment features. The online account access lets customers track their expenses, view transactions, pay bills, and budget for expenses using the tools and resources provided.

Benefits

The Citi Diamond Preferred Credit Card has several benefits that are exclusive to its users. One of the most prominent features is access to Citi Entertainment, which provides concierge-style services such as exclusive presale tickets, VIP concert packages, and special access to sporting events. This feature is particularly noteworthy for individuals who love entertainment and are looking for a way to get access to premium experiences.

Moreover, the card offers worldwide travel insurance, purchase protection, damage, and theft protection when you rent a car, extended warranty, and trip cancellation insurance. These benefits are useful for anyone who is looking for travel protection, shopping protection, and other benefits.

Drawbacks

While the Citi Diamond Preferred Credit Card has many impressive benefits and features, there are some drawbacks that need to be taken into account. For example, the card doesn’t offer any cashback, points, or miles. This means that users looking for a rewards program may need to look elsewhere.

Additionally, the card charges a balance transfer fee of either 3% of the amount or $5, whichever is the greater. This means that cardholders may need to pay an additional fee when transferring balances over to the card.

Lastly, Citi Diamond Preferred Credit Card charges a foreign transaction fee of 3% for purchases made outside of the United States. This fee may be a deal-breaker for individuals who frequently travel abroad.

Conclusion

The Citi Diamond Preferred Credit Card is an impressive credit card with many features and benefits. Its 0% Intro APR on purchases and balance transfers for 18 months, exclusive entertainment perks, and travel and shopping protection make it an attractive option for anyone looking for a credit card.

However, it’s not without a few drawbacks, such as the lack of rewards program, balance transfer fee, and foreign transaction fee. These factors may deter some individuals from signing up and should be taken into consideration before applying.

Overall, the Citi Diamond Preferred Credit Card is a great option for anyone looking for a credit card with low-interest rates, exclusives perks to entertainment, and payment and budgeting tools. It is essential to research and compare multiple credit cards and their features so that you can find the best option for your financial needs.