Yes, Citi Diamond Preferred is a good balance transfer card for people with good credit or better who need a long time to pay off their balance. Citi Diamond Preferred lets you do that at a reduced rate. It offers an introductory APR of 0% for 18 months on balance transfers. It also has a $0 annual fee.
Citi® Diamond Preferred® Card: Best for balance transfers. BankAmericard® credit card: Best for low interest. Citi® Double Cash Card: Best for cash rewards.
You'll need excellent credit — typically defined as a FICO score of 720 or higher — to qualify for the Citi® Diamond Preferred® Card. Issuers also take into account factors like your income and your debt obligations.
You'll get at least a $5,000 credit limit with this card, and some people report a high limit of $100,000. This card requires good credit and the annual fee is $95.
Citi® Diamond Preferred® Credit Card — Low Intro APR Credit Card. Earn 50,000 American Airlines AAdvantage® bonus miles after making $2,500 in purchases within the first 3 months of account opening.
Balance transfers won't hurt your credit score directly, but applying for a new card could affect your credit in both good and bad ways. As the cornerstone of a debt-reduction plan, a balance transfer can be a very smart move in the long-term.
Best Easy Approval Balance Transfer Credit Cards
One of the best credit cards with no balance transfer fee for short-term balance transfers is the Arvest Bank Purchasing Credit Card because it has a balance transfer fee of $0 and offers an introductory APR of 0% for 6 months on balance transfers. The Arvest Bank Purchasing Credit Card also has a $0 annual fee.
Sure, you can transfer the debt again -- assuming you're able to qualify for another balance transfer card -- but you aren't doing much to become debt-free. Continuing to move debt from one balance transfer card to another could become costly if you pay balance transfer fees each time.
If you're a high spender, though, the points you'll rack up can be well worth it. You'll get at least a $5,000 credit limit with this card, and some people report a high limit of $100,000. This card requires good credit and the annual fee is $95. This card's minimum credit line is $1,000.
The Citi Diamond Preferred Card is better for balance transfers, as you get this 0% APR on new purchases as well. With the Citi Double Cash Card - 18 month BT offer, you must pay your balance in full after making a balance transfer, or you will start accruing interest on new purchases.
Citi partners with FICO and Equifax, one of the major credit reporting agencies, to be able to provide you with your FICO® Score.
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