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Citi® Diamond Most popular® Card overview
The Citi® Diamond Most popular® Card does not earn rewards. As an alternative, it is geared towards individuals seeking to keep away from curiosity whereas paying down bank card debt by way of an extended introductory APR supply. Whereas that may very well be an important profit, it is price evaluating the cardboard to different playing cards with decrease steadiness switch charges and that supply rewards alongside the best way. Card ranking*: ⭐⭐½
*Card ranking relies on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.
Every month you carry a steadiness in your bank card, you may pay curiosity based mostly in your card’s annual proportion charge. In the event you’re struggling to get forward on funds and cut back debt, a bank card providing a 0% introductory APR on steadiness transfers will help you.
You will keep away from paying curiosity in your debt after transferring your steadiness to the brand new card out of your present card, doubtlessly saving lots 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 price.
Is that this the fitting card for you? Let’s have a look.
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Citi Diamond Most popular Card welcome supply
There isn’t a bonus for brand new candidates on the Citi Diamond Most popular to earn further money again or factors. As an alternative, the worth of this card will come from cash you save by lowering your 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 have to be accomplished inside 4 months from account opening. After the introductory interval, a variable APR of 17.49%-28.24% will apply, based mostly 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 17.49%-28.24% applies (based mostly on creditworthiness).
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Word that the Citi Diamond Most popular has a steadiness switch price of $5 or 5% of the quantity of the switch, whichever is larger. Different playing cards with introductory steadiness switch affords have a 3% price, so 5% is excessive. Transferring a $10,000 steadiness would incur $500 in charges.
You additionally can not switch a steadiness greater than your credit score restrict, so think about this if you apply for a brand new card and plan to switch a excessive greenback quantity.
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 an alternative, the cardboard is targeted on serving to you pay down debt by way of an extended introductory APR interval for purchases and steadiness transfers.
That mentioned, there are playing cards providing 0% introductory APR durations whereas nonetheless offering rewards on new purchases (you will not earn rewards or money again on steadiness transfers). Examples embody the Financial institution of America® Personalized Money Rewards bank card and Citi® Double Money Card.
Redeeming rewards on the Citi Diamond Most popular Card
As you will not earn any rewards, you don’t have anything to redeem. Take into account 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 may 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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Citi Diamond Most popular Card advantages
The principal good thing about the Citi Diamond Most popular is its 0% introductory APR. On high of saving lots of or hundreds of {dollars} per 12 months attributable to a diminished rate of interest, this contactless bank card affords two extra advantages.
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You will get free entry to your FICO credit score rating, serving to you observe your rating as you utilize the Diamond Most popular card that will help you pay down your bank card debt quicker.
You will additionally obtain entry to Citi Leisure, which offers particular entry to unique occasions or early presales on tickets, similar to Citi Leisure did with Beyoncé tickets.
Since this card does not have an annual price, 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 on the lookout for these advantages, you might want a journey rewards bank card as a substitute.
Which playing cards compete with the Citi Diamond Most popular Card?
This is not the one bank card with a 0% introductory APR supply. Here is a have a look at just a few different playing cards to see if one other offers extra worth for you.
- If you’d like a steadiness switch with a decrease price: The Financial institution of America Personalized Money Rewards bank card affords a 0% introductory APR for 18 billing cycles on purchases and for any steadiness transfers made inside 60 days of account opening. Afterward, the variable APR is eighteen.24%-28.24%, and there’s a steadiness switch price of three% (with a minimal of $0). You will additionally earn 3% money again in your high spending class every month and will not pay an annual price. For extra info, take a look at our full overview of the Personalized Money Rewards card.
- If you wish to earn rewards on purchases additionally: The Citi Double Money Card has no annual price and a 0% introductory APR on steadiness transfers (however not purchases) for 18 months. After the introductory interval, the variable APR is eighteen.49%-28.49%. Stability transfers have a 3% price (minimal of $5) for the primary 4 months, then 5% (minimal of $5). You will earn Citi ThankYou factors with this card, which you’ll money out or can use with journey companions to economize on a trip. For extra info, take a look at our full overview 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 price and a 0% introductory APR for steadiness transfers and purchases for 15 months. There is a 3% steadiness switch price and a variable APR of 16.24%-27.24% after the introductory interval. You will 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, take a look at our full overview of the Uncover It Money Again card.
For extra choices, take a look at our full lists of one of the best bank cards with no annual price, one of the best bank cards with 0% APR and one of the best steadiness switch bank cards.
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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 excited by chopping 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 give you huge financial savings in the long term.
Backside line
Avoiding curiosity for 21 months might show you how to cut back stress and lower your expenses in case you have important bank card debt. Nevertheless, you’ll pay a price to switch your steadiness(s) to the Citi Diamond Most popular.
It is also price contemplating whether or not you may be authorized for a brand new bank card in case you have important debt, as this may carry your credit score rating down. Nevertheless, these seeking to get out of bank card debt could also be prepared to forgo rewards and sign-up bonuses in favor of some extra months of not paying curiosity.
Apply right here: Citi Diamond Most popular Card
