With the average credit card interest rate of 22.8%, carrying a balance can be extremely expensive. One way to eliminate interest charges is to use a credit card with a 0% intro APR offer for new customers. The Citi® Diamond Preferred® Card features a 0% intro APR for up to 21 months — almost two years of interest-free financing. This promotion allows consumers to get debt-free by paying off new purchases or high-interest credit card debt without paying any interest.

Apply now

Citi® Diamond Preferred® Card

• Annual fee
  $0
• Welcome offer
  None
• Purchase APR
  17.74% - 28.49% variable
• Introductory purchase APR
  0% intro APR on purchases for the first 12 months, after which the standard APR will apply
• Introductory purchase APR
  0% intro APR on purchases for the first 12 months, after which the standard APR will apply
• Recommended credit score
  Good, excellent

• Rewards rate
  None

• Benefits
  • Free access to your Fico® Score
  • $0 liability on unauthorized charges
  • Choose your payment due date

Intro offer

When you open the Citi Diamond Preferred Card, you can benefit from an intro APR offer for purchases and balance transfers.

The 0% intro APR on purchases provides interest-free financing for 12 months. After the promo period expires, if there is an unpaid balance, the standard purchase APR applies going forward.

Customers can eliminate credit card interest by transferring balances to the Citi Diamond Preferred Card. This 0% intro APR on balance transfers is good for 21 months. All transfers must be completed within four months of opening your account, and there is a 5% balance transfer fee (minimum $5) on the transaction amount. When the balance transfer promotion expires, the standard APR applies to any unpaid balance.

Additional benefits

The Citi Diamond Preferred Credit Card has limited benefits besides its intro APR offers. For this reason, cardholders may be better off switching to another credit card once the promotion expires. If they’ve paid off their debt (or at least substantially reduced it), their credit score may have improved enough to qualify for a card that offers valuable rewards or benefits.

Cardholders can get their credit score for free through their account dashboard or the bank’s mobile app. They can also buy tickets to thousands of events, including presale opportunities and exclusive events, through Citi Entertainment.

Who is the Citi Diamond Preferred Credit Card best for?

The Citi Diamond Preferred card is best for consumers who need extra time paying off their purchases or have high interest credit card debt. With the card’s intro APR offers, they have up to 21 months of interest-free financing to pay off their balances.

Citi Diamond Preferred Card benefits

• Intro APR offer on purchases for 12 months

• Intro APR offer on balance transfers for 21 months

• No annual fee

• Free credit score

Citi Diamond Preferred Card potential drawbacks

• Balance transfer fee of 5%

• Does not earn rewards or offer a welcome bonus

• Very limited benefits

Where can you use the Citi Diamond Preferred Card?

The Citi Diamond Preferred credit card can be used everywhere Mastercard is accepted. Mastercard is one of the largest credit card networks, and it is widely accepted when making purchases in the U.S. or internationally. When making purchases outside the U.S., there is a foreign transaction fee of 3%.

How to make a Citi Diamond Preferred Credit Card payment

• Online at Citi.com

• Citi mobile app (Apple, Google)

• Set up recurring payments

• Regular mail to: P.O. BOX 9001037, Louisville, KY 40290-1037

• Overnight mail to: Citibank Express Payments, 6716 Grade Lane Building 9, Suite 910, Louisville, KY 40213

• Over the phone by calling (800) 950-5114

• In-person at a Citibank branch

Citi Diamond Preferred Credit Card customer service info

• Customer service is available 24/7

• Phone number: (800) 950-5114

• Citi Diamond Preferred Credit Card login page

Alternative cards to consider

The Citi Diamond Preferred card is an excellent choice for intro APR offers, but there may be better options for some consumers. Since it doesn’t earn rewards or offer a welcome bonus, you may want to select another credit card if that’s your priority.

Learn more

Capital One VentureOne Rewards Credit Card

• Annual fee
  $0
• Welcome offer
  Earn 20,000 bonus miles after spending $500 within the first 3 months
• Card type(s)
  Travel
• Purchase APR
  19.74% - 29.74% variable
• Introductory APR
  0% intro APR on purchases and balance transfers for 15 months, then variable 19.74% - 29.74% APR
• Recommended credit score
  Good, Excellent

• Rewards rate
  • 5x miles on hotels and rental cars booked through Capital One Travel
  • 1.25x miles on all other purchases

• Benefits
  • 0% intro APR on purchases and balance transfers for the first 15 months
  • Transfer your miles to more than 15 travel partners
  • Enjoy international travel without additional fees on purchases made abroad

Why we like it: The Capital One VentureOne Rewards credit card offers a genrous intro APR on purchases and balance transfers, and earns unlimited cash back without charging an annual fee. Additionally, it earns unlimited 1.25x miles on all purchases and 5x miles when booking travel through Capital One. You can redeem your miles for travel, statement credits, gift cards, and more. They can also be transferred to more than 15 airline and hotel partners to book award travel.

Learn more

Capital One Savor Cash Rewards Credit Card

• Annual fee
  $0
• Welcome offer
  Earn $250 cash back after spending $500 on purchases in the first 3 months
• Card type(s)
  Cash-back, Rewards
• Purchase APR
  19.74% - 29.74% variable
• Introductory APR
  0% intro APR on purchases and balance transfers for 15 months, then variable 19.74% - 29.74% APR
• Recommended credit score
  Good, Excellent

• Rewards rate
  • 8% cash back on Capital One Entertainment purchases
  • 5% cash back on hotels and rental cars booked through Capital One Travel
  • 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target)
  • 1% cash back on all other purchases

• Benefits
  • Get a 0% APR on purchases and balance transfers for the first 15 months
  • No foreign transaction fees

Why we like it: People whose dining, entertainment and grocery store purchases make up a significant portion of their spending can maximize rewards with the Capital One Savor Cash Rewards card. On these bonus category purchases, you’ll earn 3% cash back and 1% on everything else. The card also features a generous intro APR on purchases and balance transfers. There is no annual fee, and the card does not charge foreign transaction fees.  

Check out our full review of the Savor Cash Rewards card

Learn more

Blue Cash Everyday® Card from American Express

Rates & fees, terms apply

• Annual fee
  $0
• Welcome offer
  Earn a $200 statement credit after spending $2,000 within the first 6 months
• Card type(s)
  Cash-back
• Introductory Purchases APR
  0% on purchases for 15 months
• Ongoing Purchases APR
  18.49%-29.49% Variable
• Introductory Balance Transfer APR
  0% on balance transfers for 15 months
• Ongoing Balance Transfer APR
  18.49%-29.49% Variable
• Recommended credit score
  Excellent, Good

• Rewards rate
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%)
  • 3% cash back on U.S. online retail purchases (on up to $6,000 per year in purchases, then 1%)
  • 3% cash back at U.S. gas stations (on up to $6,000 per year in purchases, then 1%)
  • 1% cash back on all other purchases
  • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout

• Benefits
  • Generous intro APR on purchases and balance transfers
  • Get a $7 monthly statement credit after spending $9.99 or more on a streaming subscription to the Disney Bundle, plus earn up to $15 in monthly statement credits after purchasing a Home Chef subscription

Why we like it: The Blue Cash Everyday Card from American Express earns up to 3% cash back while providing a generous intro APR offer (see rates and fees). Cardholders earn 3% cash back on the first $6,000 they spend (then 1%) in each category: U.S. supermarkets, U.S. online purchases, and U.S. gas stations. You also get 1% cash back on everything else. If you maximize the bonus categories, you can earn at least $540 cash back each year. 

Here's what we think about the Blue Cash Everyday Amex card

This article was edited by Rebecca McCracken

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.