What the Citi Diamond Preferred Card offers for balance transfers
The Citi Diamond Preferred Card is a no-annual-fee credit card that includes a 0% introductory APR period on balance transfers. If you move a balance from another card to this one, you pay no interest on that transferred amount for a set number of months — typically 18 months, though the exact length depends on your creditworthiness and current Citi offers.
The card charges a balance transfer fee of 3% of the amount you move, with a minimum of $5. This means if you transfer $5,000, you pay $150 upfront. That fee is added to your balance, so you're paying interest on it once the introductory period ends — unless you pay off the entire balance before then.
After the introductory period expires, the card's regular APR applies to any remaining balance. Citi does not publish a fixed rate; your APR depends on your credit score and credit history at the time you open the account.
Key Takeaways
- The Citi Diamond Preferred offers 0% APR on balance transfers for 18 months, with a 3% transfer fee charged upfront.
- You need to be approved for the card first, which requires a credit check and typically takes a few minutes to a few days.
- The balance transfer must be requested during the process process or shortly after you receive your card; you cannot transfer a balance months later.
- The introductory rate applies only to the transferred balance, not to new purchases you make on the card.
- Any balance remaining after 18 months will be charged the card's regular APR, which varies by cardholder.
How to request a balance transfer when you explore
When you fill out the process for the Citi Diamond Preferred, you will see a section asking whether you want to transfer a balance. Select yes and enter the details of the card you're transferring from: the card issuer's name, the account number, and the amount you want to move.
Citi will contact your current card issuer directly to initiate the transfer. You do not need to call them yourself. The transfer typically posts within 7 to 10 business days, though it can take up to 21 days in some cases.
If you're approved for the card but did not request a balance transfer during process, you can call the number on the back of your new Citi card and request one within a short window — usually 60 days. However, requesting it at process time is simpler and faster.
Understanding the 3% transfer fee and how it affects your payoff
The 3% fee is not optional. If you transfer $10,000, you will owe $10,300 on the Citi card. That extra $300 is part of your balance and will accrue interest once the 0% period ends if you have not paid it off.
To come out ahead with this card, you need to pay down the transferred balance during the 18-month window. The longer you wait to pay, the less time you have left in the interest-free period. If you transfer $10,300 and pay it off in 12 months, you've used the card as intended. If you still owe $5,000 after 18 months, that $5,000 will start accruing interest at the card's regular APR.
Use a balance transfer calculator or a straightforward spreadsheet to figure out your monthly payment target. Divide your total balance (including the fee) by the number of months you have left. If you transfer $10,300 and want to pay it off in 15 months, you need to pay roughly $687 per month.
The difference between the introductory rate and the regular APR
The 0% APR applies only to the balance you transfer. Any new purchases you make on the Citi Diamond Preferred card will be charged the regular APR from day one — there is no grace period for new purchases on this card.
This means you should not use the card for everyday spending while you're paying off the transferred balance. Use a different card for new purchases, or pay in full each month if you do use it. Otherwise, you'll be juggling two different interest rates on the same bill.
Once the 18-month introductory period ends, the transferred balance (if any remains) will be charged the card's regular APR. That rate is not fixed and will depend on your credit profile at the time you opened the account.
Who should consider this card and who should not
The Citi Diamond Preferred makes sense if you have a high-interest credit card balance and a clear plan to pay it off within 18 months. The 3% fee is worth it if your current card charges 15% or higher APR — you'll save money even after paying the transfer fee.
It is less useful if you cannot commit to a payoff timeline, if you plan to carry the balance beyond 18 months, or if you have poor credit and might not be approved. It is also not the right choice if you need a card with a 0% APR on new purchases; the Citi Diamond Preferred does not offer that.
If you have multiple high-interest balances, you might consider whether you can transfer all of them to this one card, or whether you should split them between this card and another balance transfer card. The math depends on your total debt and how much you can pay monthly.
What happens after the 18-month period ends
On the day the introductory period expires, any remaining balance on the transferred amount will start accruing interest at the card's regular APR. Citi will send you a notice before this happens, but it's your responsibility to track the date.
If you still owe money at that point, your monthly payment will increase because interest is now being added. The best outcome is to have paid off the entire balance before the 18 months are up. If you cannot do that, you might consider transferring the remaining balance to another 0% balance transfer card — though you'll pay another transfer fee and need approval for a new card.
If you keep the card open after paying off the balance, you can use it as a regular credit card. Since it has no annual fee, there's no cost to keeping it in your wallet as a backup card.
How to manage your balance transfer on the Citi website and app
Once your balance transfer posts, you can see it in your Citi account online or in the Citi mobile app. Log in with your username and password, and you'll see your balance broken down by type: transferred balance, new purchases, and any fees or interest.
Set up automatic payments through the Citi website to may support you don't miss a due date. You can choose to pay a fixed amount each month, the full statement balance, or just the minimum. For a balance transfer, paying more than the minimum is essential — the minimum payment will not get you to zero by the time the introductory period ends.
The Citi app also sends payment reminders and shows you how much interest you'll pay if you only make minimum payments. Use that tool to stay on track.
Frequently Asked Questions
Can I transfer a balance from another Citi card to the Citi Diamond Preferred?
No. Citi does not allow you to transfer a balance from one Citi card to another Citi card. The balance must come from a card issued by a different bank or credit card company.
What if I'm denied for the Citi Diamond Preferred?
If your process is denied, you can call the number in the denial letter to ask why. Common reasons include insufficient credit history, too many recent credit inquiries, or a credit score below Citi's threshold for this card. You can reapply after a few months if you've improved your credit profile, but each process triggers a hard inquiry that temporarily lowers your score.
Does the 0% APR explore if I miss a payment?
If you miss a payment, Citi may end the introductory rate and explore the regular APR to your balance when ready. Always pay at least the minimum by the due date to keep the 0% rate active.
Can I transfer a balance after I receive the card?
Yes, but only within a limited window — usually 60 days from when your account opens. It's easier and faster to request the transfer during the process process. If you miss that window, you'll need to explore for a different balance transfer card.
What's the credit limit for the Citi Diamond Preferred?
Your credit limit depends on your credit score, income, and credit history. Citi will tell you your limit when you're approved. You can request a credit limit increase after you've had the card for a few months and made on-time payments.