Citi® Diamond Preferred® Card – 21-Month Balance Transfer Offer Review
Balance transfer credit cards can be a helpful way to finally dig yourself out of debt, as long as they’re used responsibly. The is one of the longest intro periods you’ll find today. The longer the intro period, the more time you have to make a dent in your debt without incurring interest charges, which … Continue reading Citi® Diamond Preferred® Card – 21-Month Balance Transfer Offer ReviewThe post Citi® Diamond Preferred® Card – 21-Month Balance Transfer Offer Review appeared first on MagnifyMoney.
Posted — Updatedon Citibank’s secure website
In this review, we’ll cover:
Breaking down the balance transfer offer
Key features of the Citi® Diamond Preferred® Card– 21 Month Balance Transfer Offer
What to know before completing a balance transfer with the Citi® Diamond Preferred® Card– 21 Month Balance Transfer Offer
How to complete a balance transfer with Citi
What other cards should I consider?
The Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer offers an intro 0%* for 21 months on Balance Transfers* (14.74% - 24.74%* (Variable) APR afterward). This is one of the longest balance transfer intro periods in our database, and may be plenty of time for you to pay off debt.
- Citi® Price Rewind: When you register eligible items with Citi® Price Rewind, a 60-day search for a lower price will begin. If a lower price is found, Citi may reimburse you for the difference between the amount you spent and the lower price found (up to $500 per item and $2,500 annually). Terms apply.
- Citi® Private Pass®: You can receive exclusive access to a range of entertainment events including concerts, sporting events, dining experiences and more with Citi® Private Pass®. Terms apply.
What to know before completing a balance transfer with the Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer
Balance transfers can be a great way to get out of debt, but before you complete a transfer, check out some key terms:
- Balance transfer fee: 5% of each balance transfer; $5 minimum. This fee is higher than most balance transfer cards that charge a 3% fee, however it may be worth it.
- Regular purchase APR: Balances that linger after the intro period ends will be charged a 14.74% - 24.74%* (Variable) APR. So, it’s important to make it your goal to pay off your balance before the intro period ends. This can help you avoid falling into the same cycle of debt you were in before the balance transfer.
- Balance transfer window: Balances must be transferred within four months of account opening to qualify for the intro period. Therefore, transfer balances when you open the card or soon after so you don’t miss out.
- How long the balance transfer takes to process: Citi states balance transfers can take up to 14 days to process. Continue making payments on your old card until the balance transfer posts to your account so you don’t rack up late payment fees.
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