The Citi® Diamond Most standard® Credit Card is designed to attend of us who’re struggling with debt
New card holders salvage an introductory APR on both purchases and steadiness transfers for the first 18 months
One enormous pickle is that the card doesn’t enjoy a rewards program or any whisk benefits
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Our rapidly rob: The Citi® Diamond Most standard® Credit Card can enable you to pay down your debt, with an introductory steadiness transfer offer that lasts for 18 months. Nonetheless, the card doesn’t manufacture any rewards, that procedure you acquired’t salvage any cash help or whisk substances for your purchases. So as soon as your intro duration expires, this isn’t a card to preserve shut in your wallet for the long time duration.
- 0% introductory APR for 18 months on steadiness transfers made in the first four months after you inaugurate the card (14.74% to 24.74% variable APR in a while).
- 0% introductory APR on all purchases for the first 18 months (14.74% to 24.74% variable APR in a while).
- No annual price.
- No assign-up bonus.
- No rewards.
- Miniature insurance coverages and have interaction protections.
Most modern assign-up bonus: None.
Ultimate for: Participants taking a see to transfer unique excessive-ardour debt from another credit card, or finance a good have interaction with no ardour for a protracted time frame.
The Citi Diamond Most standard is designed for a explicit form of particular person — somebody who’s struggling with their credit card bills or who desires to finance some upcoming purchases. And by the potential, if that describes you, it’s nothing to be ashamed of. Many other folks are dealing with debt after losing their jobs or earnings in the direction of the pandemic, so don’t feel on my own if you may perhaps well like a hand getting out of a hole.
The card has one amongst the longest introductory sessions for both steadiness transfers and purchases among credit cards on the market this day, which on the entire is a enormous lifeline if you may perhaps well like some time to salvage your financial house in bid. You would perhaps perhaps well park your debt or upcoming costs on the Citi Diamond Most standard and consume the extended time to birth paying off what you owe.
With that said, if you’re taking a see to manufacture rewards for the issues you preserve, this isn’t the card for you. There’s no rewards program tied to the card, that procedure you acquired’t manufacture cash help or whisk rewards on any have interaction you develop — even after the introductory APR has expired.
When it comes to introductory offers, the Citi Diamond Most standard blows many other cards out of the water. First off, new card holders salvage an introductory 0% APR (Annual Percentage Charge) for 18 months on steadiness transfers made in the first four months after you inaugurate the card, despite the proven fact that when those 18 months are over, you’ll pay a variable APR of 14.74% to 24.74% relying on your creditworthiness.
This means if that it is seemingly you’ll also simply enjoy debt on another credit card and also you’re at the moment paying a form of ardour on it, you may perhaps well transfer that debt over to the Citi Diamond Most standard and no longer pay any ardour for the first 18 months. However it’s considerable to identify a conception in the direction of that point, on tale of you don’t are wanting to salvage caught paying the considerable higher ardour price as soon as the introductory duration ends.
Counting on how considerable you owe, this can also without a doubt assign you a total lot of or presumably even thousands of greenbacks. As an instance, let’s dispute that it is seemingly you’ll also simply enjoy a $5,000 steadiness on your contemporary credit card, which carries a 16% APR. Over the direction of the next 18 months, if you handiest develop the minimal fee, you’ll be paying over $1,000 in ardour on my own on that debt.
However if you may perhaps well transfer that $5,000 steadiness to a card like the Citi Diamond Most standard, no longer handiest will you no longer prefer to pay that extra ardour, you may perhaps well as a replacement consume the money to pay down what you owe, making it more uncomplicated to change into debt-free.
In the occasion you’re trapped below debt, the consume of the steadiness transfer feature of the Citi Diamond Most standard may perhaps well even assign you a ton of money.
It’s considerable to undergo in tips that to be eligible for the 0% introductory APR, you ought to launch the steadiness transfer from your earlier credit card to the Citi Diamond Most standard within the first four months of being a card holder. There’s also a 3% price (with a $5 minimal) to transfer your steadiness. While this can also simply fee you some money in the initiating — $150 on our $5,000 example — this can finally assign you considerable extra in the long term.
Amazingly, this introductory APR offer isn’t dinky to steadiness transfers — it also extends to purchases made with the Citi Diamond Most standard in the first 18 months as properly. This can also simply advance in moderately to hand if you’re taking a see to develop one or extra mighty purchases that you just may perhaps well’t enjoy the funds for to pay for . Instead, you may perhaps well pay for them over time — as much as 18 months — ardour-free.
You ought to by no procedure develop pointless purchases on your credit card that you just may perhaps well’t enjoy the funds for. Nonetheless, in difficult financial times, a proposal like this will seemingly be precious as a final resort if that it is seemingly you’ll also simply enjoy costs that you just unbiased can’t steer clear of, corresponding to a good restore bill. It can perhaps well maybe even be precious if you may perhaps well to find it irresistible to develop a good as soon as-in-a-lifetime have interaction work, corresponding to buying an engagement ring.
However as with the steadiness transfer risk, you’ll are wanting to develop particular to repay all the issues you owe within the first 18 months after opening the tale, as as soon as the introductory duration ends, the APR ranges between 14.74% to 24.74% relying on your creditworthiness.
The Citi Diamond Most standard card also comes with a free FICO credit procure online and lets you settle on your fee due date, which is amazingly invaluable in case you pay their credit card bills spherical their paycheck schedule and want most flexibility.
We’re no longer going to sugarcoat it: The Citi Diamond Most standard doesn’t enjoy a rewards program or many of the benefits that other credit cards advance with, which is a enormous pickle. With many other no-annual-price cards, you’ll manufacture cash help or loyalty substances on every have interaction you develop, which customarily ranges between 1% and a pair of% of your purchases. That can set up some “free” cash help into your pocket.
However with that said, if you in most cases don’t pay your entire credit card bill in fat every month, you’re already paying extra in ardour than you’ll manufacture in rewards with any credit card. So incomes a pair of extra whisk miles or cash help isn’t worth it if it ought to assign you a tall number extra money by taking away the ardour you’re paying for those purchases.
The Citi Diamond Most standard also acquired’t provide you with insurance coverage or protection regarding whisk or procuring purchases. While we wouldn’t quiz any possess perks on a no-annual-price card, even the very frequent protections are mostly lacking here.
And despite the proven fact that it’s frequent to be charged a price for transferring an unique steadiness from one card to another — and the 3% price on the Citi Diamond Most standard in all fairness abnormal — it’s silent something to preserve shut in tips when alive to on whether a steadiness transfer is worth it, particularly if you already enjoy a low APR on your contemporary card or deem you may perhaps well repay your steadiness in another month or two.
CNN Underscored has chosen the Citi® Double Money Card as our contemporary “benchmark” credit card. That doesn’t mean it’s the handiest credit card on the market; rather, we consume it as a frequent abnormal to compare other credit cards and glimpse where they procure higher, and where they’re worse.
Right here’s how the Citi Diamond Most standard ratings against our benchmark. The substances of each card in the below chart are colored in inexperienced, purple or white. Inexperienced indicates a card feature that’s higher than our benchmark, purple indicates the feature is worse than our benchmark and white indicates the feature is either a associated or can no longer be straight away in contrast to our benchmark.
|Citi Double Money Card||Citi Diamond Most standard|
|Incomes price||2% on all purchases(1% if you preserve, 1% if you pay it off)||None|
|Redemption fee||1 cent (cash help)||N/A|
|Ease of frequent redemptions||Easy||N/A|
|Developed redemption strategies||Can convert cash help to ThankYou substances that transfer to 16 airline companions if you even enjoy the Citi Premier or Citi Station||None|
|Quality of developed redemptions||Licensed||N/A|
|International transaction price||3%||3%|
|BENEFITS AND PROTECTIONS|
|INTEREST RATES ON PURCHASES AND BALANCE TRANSFERS|
|Introductory APR on purchases||None||0%|
|Length of Introductory APR on purchases||N/A||18 months|
|Introductory APR on steadiness transfers||0%||0%|
|Length of Introductory APR on steadiness transfers||18 months||18 months|
|Introductory steadiness transfer price||3% or $5, whichever is higher||3% or $5, whichever is higher|
|APR after intro sessions quit||13.99%-23.99% variable||14.74% to 24.74% variable|
When reviewing other credit cards, we consume this structure and these requirements to compare them with our benchmark. You would perhaps perhaps well learn our credit card methodology for added particulars on what we take into tale regarding perks, protections and redemption fee.
Even supposing the Citi Diamond Most standard offers one amongst the longest introductory APR offers on both purchases and steadiness transfers, there are a pair of other cards with same benefits.
The Wells Fargo Platinum® Card also offers a same 18-month introductory APR on purchases and steadiness transfers, and also you’ll enjoy a same 120 days to transfer your balances and salvage a 0% APR on them (which climbs to a variable APR of 16.49% to 24.49% in a while). You’ll even be charged the identical 3% price ($5 minimal).
Esteem the Citi Diamond Most standard, the Wells Fargo Platinum doesn’t offer any rewards on the purchases you develop, but it without a doubt does enjoy some benefits, together with auto condo collision coverage, whisk accident insurance and roadside dispatch. Plus, if you pay your cell phone bill with the Wells Fargo Platinum, your phone will seemingly be protected if it’s broken or stolen, as much as $600 with a $25 deductible, for as much as two claims per 12-month duration.
And if you’re procuring for an even longer introductory duration than the Citi Diamond Most standard, you may perhaps well glimpse to the U.S. Bank Visa® Platinum Card, which comes with a 0% introductory APR offer on both purchases and steadiness transfers for a fat 20 billing cycles after you inaugurate the tale (a “billing cycle” is roughly a month). Once the intro duration ends, the APR jumps to a variable 13.99% to 23.99%.
All as soon as more, you’re no longer going to manufacture any rewards with the U.S. Bank Visa Platinum, and also you’ve handiest got 60 days after you inaugurate the card to develop any steadiness transfers and enjoy them qualify for the introductory offer. However the card does advance with cell phone insurance, so if you pay your cell phone bill with the card, you’ll be lined for fret or theft to your phone for as much as $600 with a $25 deductible, for as much as two claims per 12-month duration.
If your foremost function is to consolidate your unique debt, the Citi Diamond Most standard is an fabulous choice.
This ask without a doubt depends on what you’re procuring for in a credit card. In bid for you a card that earns rewards on your day to day purchases or offers perks if you’re traveling or protection on your purchases, then this isn’t the card for you.
However if your foremost function is to consolidate your unique debt or finance your new purchases without paying ardour on any of it for as much as 18 months, then the Citi Diamond Most standard is an fabulous choice, and a good potential to birth repairing the fret the pandemic may perhaps well even simply enjoy wreaked on your funds.
If that describes you, our suggestion is to consume for this card, consume it in the direction of its introductory offer duration, then store it away in your sock drawer when you’re carried out with it. At that point, you’ll confidently be in a higher place financially to salvage a credit card that offers the likelihood to manufacture extra rewards, or one which affords relaxing whisk perks.
Safe out which cards CNN Underscored chose as its handiest steadiness transfer credit cards of 2021.