Citi Diamond Most well-liked Card overview: Intro-APR gives excellent a stability switch

Citi is an promoting companion.

In case you’re working your method out of bank card debt or are in search of low-cost financing, the Citi® Diamond Most well-liked® Card is a wonderful choice. It has one of many very best 0% intro APR gives for stability transfers and a stable intro-APR interval for purchases.

There is a tradeoff to those intro-APR gives — the cardboard does not earn rewards or provide a welcome bonus, so it is not supreme if you need the perks and advantages that include one of the best rewards playing cards. However if you happen to’re in search of a instrument to assist wipe away your debt, you’ll be able to’t do significantly better than the Citi Diamond Most well-liked. CNBC Choose has the small print on this card and comparable alternate options so you’ll be able to select one of the best match for you.

The Citi® Diamond Most well-liked® Card gives new account holders an intro APR for purchases and stability transfers.

You will get an intro 0% APR for 21 months on stability transfers from the date you make the primary switch. You’ve gotten 4 months from account opening to make stability transfers and there’s a charge of 5% of the quantity of every switch with a $5 minimal. As soon as the intro APR expires, a variable APR of 18.24% to twenty-eight.99% applies.

You can even benefit from a 0% intro APR for 12 months on purchases from the date you open the account. After the 0% APR ends, there’s a variable 18.24% to twenty-eight.99% APR.

The 21 months of 0% intro APR makes this card exhausting to beat in terms of stability transfers. That stated, the 5% charge does fall on the excessive finish of the everyday vary we see with one of the best stability switch playing cards (3% to five%), so take that into consideration when calculating how a lot cash the cardboard will prevent.

The 12-month intro APR the Diamond Most well-liked gives for purchases is stable, however you will discover rewards bank cards with no curiosity on purchases for longer intervals. So if you happen to’re solely desirous about financing a brand new buy, different playing cards may match higher.

You pay no annual charge to have the Citi® Diamond Most well-liked® Card. For overseas transactions, you will pay a 3% charge, and there’s a 5% stability switch charge with a $5 minimal. This card’s APR is a variable 18.24% to twenty-eight.99% and is predicated in your creditworthiness.

The Citi® Diamond Most well-liked® Card and Wells Fargo Replicate® Card each have intro-APRs on stability transfers and new purchases. And since neither card earns rewards, the selection between the 2 boils all the way down to how a lot you worth an extended intro-APR interval on purchases.

Just like the Citi card, the Wells Fargo Replicate offers you an intro 0% APR for 21 months on stability transfers from the date you open the account (after {that a} variable 18.24%, 24.74% or 29.99% APR applies). The Replicate card additionally has the identical 5% stability switch charge ($5 minimal) and you’ve got 120 days from account opening to finish your transfers.

The Replicate’s intro-APR on purchases is the place it outperforms the Diamond Most well-liked. You will get a 0% intro APR on purchases for 21 months from account opening (then a variable 18.24%, 24.74% or 29.99% APR applies). That is an additional 9 months of no curiosity on purchases.

You additionally get sure protections with the Wells Fargo Replicate, together with cellular phone safety (whenever you pay your month-to-month cellular phone invoice with the cardboard) and roadside dispatch.

Citi® Diamond Most well-liked® Card vs. Citi Simplicity® Card

The Citi® Diamond Most well-liked® Card and Citi Simplicity® have the identical main options and an vital distinction in a key charge.

The Citi Simplicity gives new cardholders a 0% intro APR on purchases for 12 months from account opening and an intro 0% APR on stability transfers for 21 months from the date of the primary switch (then a variable 19.24% to 29.99% APR applies).

The Citi Simplicity has a barely larger variable APR, nevertheless it has an intro stability switch charge of three% of the quantity you switch ($5 minimal), which is 2% decrease than what you pay with the Diamond Most well-liked. The intro stability switch charge applies to transfers you make within the first 4 months from account opening, then the charge will increase to five% of the quantity of every switch ($5 minimal).

Each the Citi Simplicity and the Diamond Most well-liked are wonderful playing cards for stability transfers, however the Simplicity’s decrease charge offers it an edge in terms of getting out of debt shortly.

There’s so much to love in regards to the Citi Diamond Most well-liked Card if you wish to save on curiosity. It gives a stellar intro APR on stability transfers and has no annual charge. Nevertheless, the cardboard gives no rewards and has no intro bonus. Whereas it has a very good intro APR for purchases, if that is what you are in search of, different playing cards have higher gives.

Professionals

• This card gives one of many absolute longest intro-APRs for stability transfers
• You can even save curiosity on purchases for a full yr
• You do not have an annual charge to fret about

Cons

• You will not earn any rewards on the purchases you make with the Diamond Most well-liked Card
• It has no intro bonus provide
• Outdoors of the cardboard’s intro-APR gives, there are not any noteworthy advantages

At CNBC Choose, our mission is to supply our readers with high-quality service journalism and complete shopper recommendation to allow them to make knowledgeable selections with their cash. Each bank card overview is predicated on rigorous reporting by our group of professional writers and editors with intensive information of bank card merchandise. Whereas CNBC Choose earns a fee from affiliate companions on many gives and hyperlinks, we create all our content material with out enter from our business group or any exterior third events, and we pleasure ourselves on our journalistic requirements and ethics.

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