Most credit cards do at least one thing really well. The Citi Diamond Preferred card is no exception. For anyone needing some relief from high interest rate cards, the Citi Diamond Preferred card has a 0% APR on purchases and balance transfers for an unbelievable 18 months. Don’t get too excited, though. This card requires excellent credit, so make sure you check your credit score before applying.

Best Features

The Citi Diamond Preferred card is an excellent choice for people who need to consolidate their credit cards. Transferring your balances from other cards will cost you $5 or 3% of the balance per card, whichever is higher. However, your reward is a 0% APR on that balance for 18 months.

This card has an additional best feature -- the 0% APR extends to new purchases. So, people who need to make large purchases will also benefit from owning the Citi Diamond Preferred card.

Finally, any credit card with no annual fee is a winner. Owning a Citi Diamond Preferred card will cost you nothing if you always pay your balance in full and on time.

Citi Perks

The Citi Diamond Preferred card carries all the perks of other Citi credit cards, including the following:

$0 Fraud Liability -- You will never be held responsible for charges you didn’t make.

24/7 Customer Service -- Call anytime day or night to resolve issues or get information about your account

Automatic Account Alerts -- Receive e-mail or text alerts concerning your balance, payments, credit limit.

Digital Wallet -- Shop online with confidence and enjoy speedy checkouts.

Contactless Pay -- These days, less contact is more peace of mind. Paying for items is easier than ever with a contactless’ tap.’

Citi Entertainment -- You will receive special access to purchase tickets for thousands of concerts, sporting events, and dining experiences, including presale and exclusive experiences.

Basic Features

No Annual Fee

3% Foreign Transaction Fee

Smart Chip Enabled

14.74% - 24.74% Purchase APR (higher than the average of 13.03% for customers with excellent credit)

$40 Max Late Fee

No Max Over Limit Fee

5% ($10minimum) Cash Advance Fee

Identity Theft Solutions

The folks at Citi Bank understand the concerns people have regarding their personal information. And they know that having a credit card -- although necessary for most people -- exposes your personal information to vulnerabilities.

For this reason, the Citi Diamond Preferred card is enhanced with Identity Theft Solutions -- a series of steps Citi takes to assist you if someone steals your identity. Identity Theft Solutions consists of the following features:

Citi will mail you a packet of information to browse, so you have tangible information and constant access to answers.

Citi will help you contact the Trans Union credit bureau to review your credit report and send a fraud alert to the other two large credit bureaus.

Citi will monitor your Trans Union credit report until your case is closed.

Citi will provide information and advice on completing police reports and other government documents.

Citi will help identify other compromised accounts and assist in contacting them.

Citi will always stay in touch with you and be there to answer questions until your case is closed.

The Downside

While the Citi Diamond Preferred card’s introductory offer of 0% APR is excellent for balance transfers and large purchases, there is one thing this card doesn’t get right -- rewards. The Citi Diamond Preferred card does not have a rewards program at all.

This fact makes the Citi Diamond Preferred card a perfect candidate for a co-card. People who need the balance transfer feature can consolidate cards and relax, knowing they will not accumulate interest for 18 months. They should also have a standard everyday card that earns rewards. Combining the two works best if you make steady progress paying down the consolidated balance and if the standard card is paid in full every month.

Pros

No annual fee

0% purchase and balance transfer for 18 months for new cardholders

Identity Theft Solutions

Cons

No rewards program

3% foreign transaction fee

Higher than average purchase APR for customers with excellent credit