Citi® Diamond Preferred® Card

There is a fee of 3% of the amount transferred - So if you transfer, say , $17k, that's $500 just to transfer. This is a one time fee, BUT!!! you'll stand to save $2500 or more depending on what you are currently paying on your original credit card over a period of 18 months. It's just something you don't want to hear about as it's happening - good to know up front/ahead of time, since $500 is not chump change for any of us. So I had to say something here so people are prepared for that. There IS A FEE. Other than that, the math shows that yes - you can save a considerable amount in the long run depending on your situation.

You cant do a balance transfer from another CITI card.

I have had this card at 0% on purchases for about a year now and have never had any issues. There is a cash rewards componenet to the card that I have to learn more about. I have always paid on time and have kept a few thousand dollars available on the limit (I don't spend to the limit). I like the website and its features. It makes it very easy to make a payment online from my checking account at my credit union. I have had no problems with this card or their customer service.

I paid off my Citi Preferred account two years ago when they raised my interest rate by 10+% though I had paid at least $150 over the minimum monthly payment for several years, and had never gone over my balance. After several years of receiving and ignoring balance transfer offers, in August I received a balance transfer offer with 0% interest on transfers and purchases until 01/2013, providings check that were valid until 10/20/2011 that could be used to transfer balances or to deposit in my checking account. I immediately transferred balances for two accounts and kept the checks for future use. On October 4, 2011 I called to determine if I needed any additional authorization to use the check as I had written a check to deposit into a checking account, and was advised that the offer was no longer available. There had been no communication, via mail, email, or even an alert on my online account as to this rescinding of their offer, and had I used the checks (that needed not additional authorization) the check would have bounced. Now I find out that a balance transfer check (for another account) that was validated by Citibank on 10/04/2011 and subsequently deposited into my checking account not one hour after validation, was not honored by Citibank on 10/05/2011. While the card itself is OK, and the customer service reps in this matter were patient, understanding and as helpful as they could be, please BEWARE OF CITI'S BALANCE TRANSFER OFFERS