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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 | 5% of each balance transfer ($5 minimum) |
| 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 very similar cards, but if you're looking for a balance transfer card, we'd imagine you may have had issues making credit card payments in the past — or at least payments sufficient enough to pay off your balance.
If that's the case, the Simplicity is going to beat out the Diamond Preferred on most fronts for two primary reasons.
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 a lower balance transfer fee
While both the Citi Simplicity and Diamond Preferred cards have introductory offers for balance transfers, you'll pay less to transfer your balance to the Simplicity than you would to the Diamond Preferred.
| Citi Simplicity | Citi Diamond Preferred |
| 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 | 5% of each balance transfer ($5 minimum) |
Current Offer
Long introductory APR period on balance transfers
Annual Fee
$0
Reasons to choose Citi Diamond Preferred
Citi Diamond Preferred is very similar to the Citi Simplicity.
But while the Citi Simplicity card is the better choice in many instances, there are times when you'd be better off with the Diamond Preferred, especially if you plan to spend on the card after the intro APR period.
Diamond Preferred has a lower post-intro APR
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.
Both cards offer comparable intro periods for balance transfers and for new purchases, but you could potentially save on interest with the Diamond Preferred if you keep spending 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.
Balance transfers typically cost more on the Diamond Preferred
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.
On the other hand, the Citi Diamond Preferred charges 5% of each balance transfer ($5 minimum). This means that the Citi Simplicity can be a better option for saving money on your balance transfers.
Winner: The Citi Simplicity because it has a lower balance transfer fee during the first four months, making it a more 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 very similar.
Overall, we'd recommend the Citi Simplicity to most prospective cardholders because it provides a safeguard for those unexpected times you must make a payment late.
The only reason to choose the Diamond Preferred is if you plan to use your card for purchases after the intro APR period. Even then, the benefits of having a potentially lower ongoing APR only kick in if you don't pay off your balance every month, which we'd recommend avoiding.
Current Offer
Long introductory APR period on balance transfers
Annual Fee
$0
