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Citi Simplicity® Card vs. Citi® Diamond Preferred® Card
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Citi Simplicity® Card
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Citi® Diamond Preferred® Card
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| Card type | Balance transfer/0% APR | Balance transfer/0% APR |
| Annual fee | $0 | $0 |
| FinanceBuzz star ratings |
4.5
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4.4
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| FinanceBuzz value calculation1 <p class="">These values are based on the <a href="https://financebuzz.com/financebuzz-credit-card-valuation">FinanceBuzz Credit Card Rewards Valuation Model</a>, which takes a look at rewards earned via spending, the welcome offer, and the annual fee. We used a valuation of 1 cent/point unless otherwise stated above. These are estimated values - your actual earnings will depend on how much you spend and in what categories.<br></p> | Year one earnings: $0
Year two earnings: $0 |
Year one earnings: $0
Year two earnings: $0 |
| Intro APR |
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| Balance transfer fee | 3% of each balance transfer ($5 minimum) within 4 months of account opening; then 5% of each transfer ($5 minimum) after the 4 month intro period ends | 3% of each balance transfer ($5 minimum) within 4 months of account opening; then 5% of each transfer ($5 minimum) after the 4 month intro period ends |
| Other benefits |
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| Foreign transaction fee | 3% | 3% |
| Credit needed | Excellent, Good | Excellent, Good |
| Apply now | Apply now |
Reasons to choose Citi Simplicity
The Citi Simplicity and Citi Diamond Preferred are similar cards, but they're not as similar as they used to be. Two main factors set the Simplicity apart from the Diamond Preferred: Its lack of late fees and comparable intro APR offers for both new purchases and balance transfers.
The Simplicity doesn't charge late fees
We don't recommend ever missing a credit card payment (it can really put a dent in your credit score), but life happens. If you're concerned about your ability to make on-time credit card payments, know that the Citi Simplicity doesn't penalize you with late fees or a penalty APR.
This can be a nice feature if you have irregular income and can't always meet your due date. Even if you miss it, to avoid damaging your credit score, try to meet your minimum payment within no more than 30 days past the due date.
The Simplicity has the longer intro APR for purchases
While both the Simplicity and Diamond Preferred provide intro APR offers for new purchases and balance transfers, the Simplicity is distinctly better for avoiding interest on new purchases
The Citi Simplicity has a 0% introductory APR on purchases for 18 months from date of account opening, then 17.49% - 28.24% (Variable). The Citi Diamond Preferred, on the other hand, has a 0% introductory APR on purchases for 12 months from date of account opening, then 16.49% - 27.24% (Variable).
If there's a chance you'll continue spending on a credit card while paying off a balance transfer, or you don't even need to transfer any debt, the Simplicity will give you more time to avoid interest on new spending than the Diamond Preferred.
Current Offer
Long introductory APR period on purchases and balance transfers
Annual Fee
$0
Reasons to choose Citi Diamond Preferred
Citi Diamond Preferred has become the better card between the two for balance transfers. There was a time when we would have recommended the Simplicity to more people, but following changes to both, the Diamond Preferred just makes more sense for transferring existing debt.
Diamond Preferred has the longer intro APR on balance transfers
The Citi Diamond Preferred has pulled ahead of the Simplicity for balance transfers (especially big ones). Between these two cards, the Citi Diamond Preferred boasts the longest intro APR period in its balance transfer offer.
The Citi Diamond Preferred has a 0% intro APR on balance transfers for 21 months from date of account opening, then 16.49% - 27.24% (Variable) Contrast that with the Simplicity, which has a 0% intro APR on balance transfers for 18 months from date of account opening, then 17.49% - 28.24% (Variable). For both, balance transfers must be completed within four months of account opening.
Diamond Preferred has a lower post-intro APR
A longer intro APR offer for balance transfers doesn't automatically mean that the Diamond Preferred is the better card if you're paying off debt, but it's also worth noting that the Diamond Preferred has lower post-intro APRs, in case you don't repay your entire balance before your intro period is up.
Credit card interest rates are variable and can change, but the Citi Diamond Preferred's regular purchase APRs tend to trail behind the Citi Simplicity's by a bit.
Why does that matter? Because if you plan to keep an intro APR card after its intro APR promotion is up (and you should, because cancelling credit cards typically isn't good for your credit health), you're going to start paying interest on it unless you keep your balance paid off.
You could potentially save on interest with the Diamond Preferred if you keep a balance on your card after the first year.
Current Offer
Long introductory APR period for balance transfers
Annual Fee
$0
Key differences between the cards
There are three essential differences between the Citi Simplicity and the Citi Diamond Preferred.
Both offer lower intro balance transfer fees
The Citi Simplicity charges 3% of each balance transfer ($5 minimum) within 4 months of account opening; then 5% of each transfer ($5 minimum) after the 4 month intro period ends, and the Citi Diamond Preferred charges 3% of each balance transfer ($5 minimum) within 4 months of account opening; then 5% of each transfer ($5 minimum) after the 4 month intro period ends. While the Simplicity used to be alone in providing a discounted intro fee, the Diamond Preferred now does too.
Winner: Tie; either could be a cost-effective option for transferring balances.
The Diamond Preferred charges late fees
The Citi Simplicity has no late fees, while the Citi Diamond Preferred charges a fee (See Terms). If you suspect you may be late with payments on occasion, then the Citi Simplicity would be a better bet. But remember, late payments can cause negative consequences to your FICO score, so it's always best to pay your bills on time.
Winner: The Citi Simplicity because it doesn't charge any late fees, making it a better choice for those who may occasionally miss payment due dates.
The Simplicity has a higher ongoing APR
Intro APR offers are great for avoiding interest on past debts and new purchases, but they don't last forever. And when they end, you have to be prepared for your card's regular interest rates. If you can't pay off your balance before your card's promotion is up and its regular APR kicks in, every little bit of savings on ongoing fees counts.
The Citi Diamond Preferred's regular APR on purchases is 16.49% - 27.24% (Variable), while the Citi Simplicity's APR for new purchases is 17.49% - 28.24% (Variable). While this might not seem like a massive difference, the Diamond Preferred's lower rate could help you avoid some interest if you plan to carry a balance.
Winner: The Citi Diamond Preferred has a slightly lower ongoing APR for both regular purchases and balance transfers.
Another excellent card for intro APRs (especially on purchases)
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Current Offer
Benefit from a long introductory APR period on purchases and qualifying balance transfers
Annual Fee
$0
FAQs
Can I have both the Citi Simplicity and Citi Diamond Preferred?
As long as you can qualify for both cards, you can have both. Citi doesn't have a strict limit on the number of cards you can apply for, although they do require that you have eight days in between card applications and that you don't apply for more than two Citi cards in a 65-day period.
Does the Citi Simplicity card have rewards?
The Citi Simplicity Card does not offer rewards. If you are interested in a balance transfer credit card that offers a rewards program and a generous intro APR period, you may want to consider the Citi Double Cash® Card. It gives you a 0% intro APR on balance transfers for 18 months (then 17.49% - 27.49% (Variable)), and cardmembers can earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases; plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
Does Citi Diamond Preferred have points?
The Citi Diamond Preferred card does not offer points or rewards. If you're open to applying for a rewards card from a different credit card issuer, the Capital One Quicksilver Cash Rewards Credit Card could potentially be a good choice.
Cardmembers can earn 1.5% cash back on every purchase, every day; and 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel. This card also offers a 0% intro APR on balance transfers for 15 months, then 18.49% - 28.49% (Variable)). Balance transfer fee applies.
Does Citibank give instant approval?
Citi provides instant approval, but in certain situations it may take longer to find out if you're approved for a card.
Is the Citi Diamond Preferred Card hard to get?
To be eligible for the Citi Diamond Preferred Card, you typically need to have a good to excellent credit score (a FICO score of 670 or higher). Citibank considers various factors when evaluating your creditworthiness, including your credit and payment history, debt-to-income ratio, and other relevant information.
Bottom line
The Citi Simplicity® Card(Rates and fees) and Citi® Diamond Preferred® Card(Rates and fees) are similar, but we'd recommend the Citi Simplicity to you if you want to transfer a balance while still using your card for purchases, and the Citi Diamond Preferred if you have a larger balance to transfer (or need to make smaller payments).
With both, be mindful of regular APRs and balance transfer fees, and make sure you have a concrete, realistic plan for managing your debt, so your intro APRs don't go to waste.
Current Offer
Long introductory APR period on purchases and balance transfers
Annual Fee
$0
