Citi Diamond Preferred vs. Citi Simplicity

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If you’re looking for a card that can help you tackle a large credit card balance or finance a big purchase, both the Citi® Diamond Preferred® Card and Citi Simplicity® Card are good options to consider.

These two Citi cards offer much longer interest-free balance transfer periods than most cards on the market. And, they also offer interest-free promotional periods on new purchases, giving you time to pay down your card balance before additional interest accrues.

But while these cards are similar in some ways, the Citi Diamond Preferred and the Citi Simplicity cards offer slightly different benefits. So, you’ll want to consider the type of credit card user you are, and what you’re hoping to get from a new card, before making a decision.

Citi Diamond Preferred vs. Citi Simplicity

Card	Citi® Diamond Preferred® Card	Citi Simplicity® Card
Rewards rate	None	None
Introductory APR (balance transfers)	21 months	21 months
Introductory APR (new purchases)	12 months	12 months
Regular APR	18.24% to 28.99% (variable)	19.24% to 29.99% (variable)
Annual fee	$0	$0
Transfer fee	$5 or 5% (whichever is higher)	$5 or 5% (whichever is higher)

Introductory APR

Both the Citi Diamond Preferred and Citi Simplicity card offer one of the longest introductory APR periods for balance transfers available on the market – 0% for 21 months, then 18.24% to 28.99% and 19.24% to 29.99% variable, respectively. It’s important to remember, though, that you must complete the balance transfer within the first four months of account opening to qualify. You’ll also be charged a $5 or 5% balance transfer fee.

Compared to the typical 12 or 18 months, the 21-month interest-free balance transfer offer is a generous one. If you have another credit card balance to pay off or plan to carry one in the future, these interest-free intro periods can save you considerable interest over time. Either card allows you to chip away at your balance without worrying about adding to your debt.

Penalty rate

The Citi Simplicity card one one major benefit that the Citi Diamond Preferred card doesn’t: more forgiving terms. The Citi Simplicity card doesn’t charge a penalty rate or late fees, which can be an excellent perk if you face short-term financial trouble or forget to make a payment on time.

On the other hand, if you miss payments on the Citi Diamond Preferred card, you could pay a late fee of up to $40 and face a penalty rate as high as 29.99% variable.

Citi Diamond Preferred: Best for big purchases

If you’re planning to use your card to purchase expensive items but don’t want to pay interest charges, the Citi Diamond Preferred is a good option. With 21 months of no interest on balance transfers and 12 months of no interest on new purchases, there may be enough time to pay off your big-ticket items before accruing interest on your credit card balance.

Citi Simplicity: Best for flexible terms

If you want some flexibility with your card terms, the Citi Simplicity may the one for you. The intro APR offer of 21 months for balance transfers and 12 months for new purchases is the same as the Citi Diamond Preferred, but this card has no penalty fee, late fee and even annual fee, which puts it at an advantage over the Diamond Preferred for those focused on flexibility.

Bottom line

The Simplicity and Diamond Preferred cards offer the same introductory periods on new purchases and balance transfers, so if you’re trying to decide between the two, the best card for you depends in large part on what your goals are. If you want more flexibility, the Citi Simplicity may be a better fit. But ultimately, the Citi Diamond Preferred card and the Citi Simplicity card are both great options to consider.

See related:Citi Diamond Preferred vs. Citi Double Cash, Chase Slate Edge vs. Citi Simplicity