This is an option that’s worth paying attention to if you need a long interest free period.
The card you’re going to learn in this article comes with a very long interest free period. Actually, it’s even longer than 18 months. In this article, you’ll get all information you need about the Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases.
Apart from a very long “bonus” period, the card has a set of other perks that you’ll also find beneficial. Let’s start “digging” so that to find what these perks are.
General information concerning the card
- With this card you can forget about the need to pay annual fee.
- The card offers a “bonus” period of 21 months. It means that you won’t pay any interest for your purchases and balance transfer operations for almost 2 years.
- There are no rewards that you can get when using the card.
- The card doesn’t cost you anything to carry. There is no annual fee implied.
- Standard APR you are required to pay varies from 13.99% to 23.99%. Be ready to pay a Penalty APR that’s also variable. The APR will occur under the condition that you fail to make your payment on time. As for Cash Advance APR it may amount up to 26.24%, but it also may vary depending on your credit history.
- Special Offer: The card implies no offer.
- Special Offer in terms of APR: The card can boast a truly long period during which you’re not expected to pay any interest. It amounts to 21 months and applies for both your purchases and balance transfer operations.
More information concerning the card:
- You’ll find the 21-months interest free period more than appealing if you’re currently desperate to decrease any debts you have.
- Do not forget that after the “bonus” period is over, the card charges a certain APR on the balance you have. The rate can vary from 13.99% to 23.99% and is determined on the basis of your credit history.
- There is no annual fee implied. That’s very advantageous. You don’t waste any money on paying that fee focusing on paying off your debt.
- Mind that there is a fee of 3% or 5 dollars off the sum you wish to transfer each time.
- There is nothing you should pay for the authorized purchases you have as well as for using the Citi® Identity Theft Solutions.
- You have an opportunity to take advantage of the Citi® Price Rewind feature. The feature allows you to get a refund in case the item you bought was found to be sold somewhere for a lower price.
- The emitting bank grants you access to your FICO score thus helping you to track any changes and improvements in terms of your credit score.
The reasons for you to consider applying for the card
There is a reason for the popularity the card gained. These are exactly the perks that you get once you start using it. We’ve decided to outline all the perks there are to expect from the card so that you can make the right decision.
- The card has a very long interest period that’ll be enough for you to significantly decrease your debt. Actually, you may even be able to pay off your debt in full since the period amounts to 21 months. If you plan carefully, you’re very likely to get out of your debt once and for all. If you don’t have any debts but there is a big purchase that you’ve wanted to make for long, we also recommend you thinking about applying for the card. The card is a real “gift” for those who want to avoid paying interests at any cost.
- There is no fee to pay for using the card. That’s also very convenient since it allows you to save some money in order to pay off your debt or a big purchase. Many potential cardholders may like the card, but detest the very idea of paying a fee each year for it. With this card there is no such a requirement.
- There are certain perks to expect from the card. Even though the main features of the card already make it quite outstanding, they’re not all you get. There are certain perks offered which are hard not to notice. We are sure that if you still unsure whether the card is worth it or not, the perks will make you say “yes”.
In particular, we are talking about the Citi Price Rewind feature that’s helpful for those who don’t want to make a mistake and buy something for a higher price than possible. Moreover, you’ll also get Citi Private Pass that’ll allow you to buy tickets to various events while there is still the “presale” stage. Not many cardholders have this benefit.
The card will help you in everything concerning your future trips
Although the card is not meant to be a travel card, it really has some features that passionate travelers will love. We are not talking about the possibility to earn miles. This card implies nothing of the kind. We are talking about some specific services you can take advantage of:
- If you help problems planning and organizing your tip, you can give a call to the concierge service that will take care of everything.
- In case your trip is cancelled due to some reason, you’ll get a refund.
- You’ll also have travel accident and car rental insurance no matter where you’re going to travel. The insurance is valid all over the world.
It’s obvious that the card can be valuable for those who travel regularly. However, there is one little thing we need to warn you about. The crux of the matter is that the card charges you a fee each time you make a purchase with it abroad. That may not be very good especially if you love shopping or buy small presents for your family and friends while travelling. That’s why we recommend you to make sure that you have a different card to rely on as far as the question of making purchases abroad goes.
The reasons for you to consider applying for a different card
You probably think that the card is perfect based on the information you’ve read so far). We hate to disappoint you, but the fact is that this card also has its own drawbacks. No credit card can be designed so that it is a truly “flawless” financial tool.
- There is a balance transfer fee that can be a real pain to pay. The fee occurs each time you decide to transfer some sums. Consequently, each time you’ll be charged 3% or at least 5 dollars (depending on whichever is greater). We recommend you make some simple calculations based on the sums you plan to transfer. Then you’ll be able to see if the card is worth the effort. If you come to the conclusion that the fee is too high for your liking and it makes applying for the card pointless, don’t worry. Below we provide some examples of other cards that you may consider instead of Citi Diamond Preferred.
- The rewards program promised by the card is all you can expect if you’re the one who prefers earning rewards with a credit card. The card will grant you an access to the Citi Easy Deals program. If you take part in it, each purchase you make with the card will bring you rewards in the form of points that will be credited to your account in the program itself. Let’s say you make a purchase of $200. Since you’re to get 10% “Cash back” according to the conditions of the program, it means that you’ll get 20 points. You can use the points to get a discount when shopping on the Easy Deals portal – the official portal that’s part of the program’s offer.
Of course, the fact that there is at least a rewards program speaks in favor of the card. However, the program can hardly be called great especially when you already have a debt to deal with and don’t plan to make any new purchases. Besides, even if you earn some points, you’ll be able to use them only for making new purchases.
The Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases in comparison with its competitors
There are lots of credit cards available nowadays at the market. Due to this, potential cardholders sometimes struggle to decide which one is the most beneficial for them. We aim to make the things easier for you. That’s why we compare the card we describe in this article with some more cards that you may see as a bit more advantageous in your case.
The Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases in comparison with the Chase Slate®
The Chase Slate card will bring you more benefits since it’s designed so that you have no interests to pay during the first 15 months of using the card and so that all the balance transfer operations you carry out within the first 60 months will be free of charge. That’s really the one you should have if you plan to transfer big sums of money and don’t want to pay extra sums of money that can be rather big.
The card comes with a variable APR (15.99% – 24.74%) that occurs once the “bonus” period is over and doesn’t require you to pay any money for using it. All these features make the card just great, but if you think that you need a longer interest free period, you need to come back to thinking about the Citi® Diamond Preferred® Card. The period offered by it is hard to beat and that’s one of the things that make the card so popular at the market.
The Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases in comparison with the Discover it® – Cashback Match™
The Discover card is well-known for it’s high cash back of 5% that you get for the purchases in bonus categories to be activated every quarter of a year. If you like getting rewards with your credit card, you’ll definitely be interested in this option. Once you get your Discover card, you’ll be granted the access to the Discover Deals – the official portal where you can be rewarded not only additional cash back, but also the privilege of buying items on discount. To make things even better for you, the card comes with no annual fee as well as no fee for the purchases you need to do when abroad.
As for the interest free period implied by the card, it’s shorter than the one you’ll get with the Citi® Diamond Preferred®. You’ll have only 14 months. At the same time, we think that this maybe enough for some cardholders willing to start paying off their debts or looking forward for a big purchase in the nearest future. Again, if your situation isn’t that good and you don’t suppose that you’re likely to at least significantly decrease your debt within 14 months, your better choice will be the Citi card.
The Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases in comparison with the Citi Simplicity® Card – No Late Fees Ever
Actually, the Citi Simplicity® Card – No Late Fees Ever is much the same as the Citi Diamond Preferred in terms of its interest free period and the APR that applies later on. It also comes with no annual fee which is one more way for you to save some money towards the debt you need to pay off.
The major difference between the cards is the set of perks that are offered by the Citi Simplicity card. The best of the perks is that a person isn’t required to pay any charges that occur due to the fact that payment was made later than necessary. This can be rather convenient because we know how busy we sometimes can be. It may simply so happen that you forget to make the payment.
All in all, when choosing which of the cards is the best for you, you’re to focus on the additional perks each of them promises. In case you want to have access to some services helping you to plan your trip and you often buy things online, your ideal option is the Citi® Diamond Preferred® Card. If you’re the one who doesn’t want to worry about the Penalty fees to pay, the Citi Simplicity® Card will meet your needs better.
Summary: Is the Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases the card you should get?
The card is very attractive for those who either want to make a big purchase or those looking for any opportunities to get rid of their debts. Since the interest free period of the card lasts for almost 2 years, we think that both the categories of the cardholders will manage to successfully achieve their goals. If you fall under any of the categories mentioned above, don’t hesitate to apply for the card.