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Citi Simplicity® Card vs. Citi® Diamond Preferred® Card comparison
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4.5
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4.4
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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 |
| Learn more | Learn more |
When to go with Citi Simplicity
The Citi Simplicity and Citi Diamond Preferred are very similar cards, but the Simplicity card may be better if:
- You often miss your due date and pay late fees
- You have a large balance to transfer
You miss your due date often
If you miss your due date, which I don't recommend, the Citi Simplicity card 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.
Just be sure if you make late payments that they aren't more than 30 days past due or it can damage your credit score, even if Citi doesn't charge a late fee.
You need to transfer a large balance
While both the Citi Simplicity and Diamond Preferred card have introductory offers for balance transfers, you'll pay less to transfer your balance to the Simplicity card versus Diamond Preferred on balances transferred.
| 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) |
When to go with Citi Diamond Preferred
Citi Diamond Preferred is very similar to Citi Simplicity minus the late payment forgiveness, but may be a better option if:
- You want a slightly lower APR on purchases after the introductory period ends
Key differences between the two
There are two essential differences between the Citi Simplicity and the Citi Diamond Preferred.
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.
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.
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.
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 18.24% - 28.24% (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 and rental cars booked through Capital One Travel (terms apply). This card also offers a 0% intro APR on balance transfers for 15 months, then 19.24% - 29.24% (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 and Citi® Diamond Preferred® Card are very similar. The main difference is whether you regularly make late payments and want to avoid a late payment fee.
I personally think Citi Simplicity offers a more robust financial benefit since it provides a safeguard for those unexpected times you must make a payment late.
Extended 0% Intro APR for Balance Transfers
Current Offer
Long introductory APR period for balance transfers
Annual Fee
$0
No annual fee & 0% Intro APR
Current Offer
Long introductory APR period on balance transfers
Annual Fee
$0