What are the pros and cons of a Citi Diamond Preferred card?


Quick Answer

As of 2015, the pros of a Citi Diamond Preferred credit card include a low regular annual percentage rate and a lengthy introductory rate on purchases and balance transfers, according to About.com. The main drawback of the card is the lack of points or cash rewards on purchases.

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Full Answer

The Citi Diamond Preferred credit card is beneficial for individuals seeking to use a balance transfer card with a lengthy promotional period, states About.com. The card comes with a free annual fee and a promotional annual percentage rate of zero percent for 18 months, as of 2015. Its regular annual percentage rate for qualifying applicants ranges from 11.99 percent to 21.99 percent depending on the applicant's credit score. Those with higher credit scores are eligible for lower rates.

Citi Diamond Preferred cardholders can redeem their City Easy Deals Points for various online deals, including gift cards and name-brand products, states About.com. The Citi Private Pass feature allows cardholders to access special entertainment events, VIP packages, selected seating and presale tickets. Moreover, unauthorized purchases lead to zero liability.

Individuals who intend to earn rewards for their credit card purchases may benefit more from the Citi ThankYou Preferred card, which offers ThankYou points that cardholders can redeem for a wide selection of items, notes About.com. The card also offers zero percent annual percentage rate for 12 months.

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