Citi Diamond Preferred vs. Citi Custom Cash

Citi is an advertising partner.

Struggling to pay off your credit card debt? Are high interest payments exacerbating your suffering? Then Citi Custom Cash℠ Card or Citi® Diamond Preferred® Card may I help.

Both cards offer a long-term introductory 0% interest rate on balance transfer offers and new purchases. You can transfer your existing debt to these cards and pay it off without worrying about paying interest, as long as you pay enough each month to write off all of your transferred debt before the 0% introductory offer ends. This can save you hundreds of dollars in interest, depending on how much you transfer.

But which Citi card is right for you: Diamond Preferred or Custom Cash? This largely depends on how much existing credit card debt you want to pay off, and how many months it may take you to do so.

Diamond Preferred is a basic card that does not have a reward structure (apart from the signup bonus), but has a longer zero interest period on balance transfers than Custom Cash. However, Custom Cash offers a longer zero interest period for new purchases, as well as a cash back rewards program.

Card Feature Comparison: Citi Diamond Preferred vs. Citi Custom Cash

Citi Diamond Preferred and Citi Custom Cash are great cards to help you pay off credit card debt you’ve accumulated from other cards with high interest rates, but on closer inspection they have some big differences that set them apart.

Below is a comparison table that summarizes the characteristics of each card:

Citi® Diamond Preferred® Card	Citi Custom Cash℠ Card
Welcome Bonus $150 credit statement if you spend $500 within 3 months.	Welcome Bonus $200 cashback if you spend $750 in 3 months
Balance Transfer Offer 0% interest rate on balance transfers for 21 months and purchases for 12 months	Balance Transfer Offer 0% interest rate on balance transfers and purchases for 15 months
Regular APR 13.99% to 23.99% variable	Regular APR 14.24% to 24.24% variable
Awards No bonus program	Awards Receive 5% cashback on your chosen spending category (up to the first $500 spent) and then 1%. Get 1% cashback on all other purchases.
Annual fee None	Annual fee None

Balance Transfer Offer

The Citi Diamond Preferred Card comes with one of the longest lead times in the industry – 0% APR for 21 months on balance transfers – making it one of the best 0% APR cards. After this period, your rate will change to a variable between 13.99% and 23.99% per annum, depending on your loan. The card also offers a solid 12-month starting rate of 0% APR on purchases, followed by a regular APR of 13.99% to 23.99% APR.

However, you will have to pay a balance transfer fee of $5 or 5% of the transfer amount, whichever is greater. Balance transfers must be completed within four months of opening your account to qualify for the 0% offer.

Citi Custom Cash comes with its own introductory 0% offer on purchases and balance transfers. However, it runs for 15 months, claiming to be a happy medium between the longer Diamond Preferred balance transfer offer and the shorter buy offer. The balance transfer fee for this card is also $5 or 5% of the transfer amount, whichever is greater.

Bonus programs

Citi Custom Cash comes with a solid cash back program. You’ll get a 5% cash back on the category you spend the most in each billing cycle, including restaurants, gas stations, grocery stores, travel, public transportation, streaming services, pharmacies, home goods stores, fitness clubs, or entertainment programs .

Note. You will receive 5% cashback in your highest category up to $500 that you charge for each billing cycle, and then 1% after that. You will also receive 1% cashback on all other purchases.

Refunds are made in the form of “Thank you” points. This means you will earn 5 points for every dollar spent on purchases in your spending category and 1 point for every dollar spent on all other purchases.

You can redeem your points for cash back in the form of a direct deposit or credit statement, or for a trip to the ThankYou Rewards Center. If you have a qualifying Citi card, such as a Citi Premier® card, you can also transfer ThankYou points to 16 Citi travel partners.

The Citi Diamond Preferred Card does not offer a rewards program.

Bonuses for signing up

Not only does Citi Diamond Preferred have a particularly long initial APR period, it also offers a signup bonus. Spend $500 in three months and you’ll get $150 credit. This is not bad considering the spending target is relatively small.

Citi Custom Cash also has a welcome bonus, although the spending target is a bit higher. Spend $750 within the first three months and you’ll receive $200 in cash (in the form of 20,000 ThankYou Points). This card’s introductory offer is a nice cherry on top of its reward structure.

Other perks

The biggest benefit of Citi Diamond Preferred is the long-term offer at an introductory 0% interest rate. But it also comes with other valuable features.

You can set up automatic account alerts to remind you if your credit card balance gets too high, a payment is due, or if you’ve exceeded your credit limit. You can also choose your own pay date each month that works with your monthly paydays. And with Citi Entertainment, you can get special access to tickets to events across the country.

With Citi Custom Cash, you can add authorized users for free and earn points for purchases they make with their cards. You can also receive unlimited cashback (at a rate of 1%) once you reach the $500 cap in your spending category. As with Citi Diamond Preferred, you can receive account alerts, add your card to your digital wallet, and pay even faster with a contactless chip card.

Citi Diamond Preferred Card: Best for paying off credit card debt

The main benefit of the Diamond Preferred card is its 21-month offer with zero interest on balance transfers. This offer is especially valuable for consumers who have accumulated a lot of high-interest debt on other credit cards.

If you transfer this debt to a Citi Diamond Preferred card, you will have 21 months to pay it off without paying interest. Just be careful: after the initial interest rate period ends, the interest rate on this card will rise to 13.99-23.99% with a variable annual interest rate. If you have not paid off the debt you transferred by then, you will have to pay this higher interest rate on your balance.

Citi Custom Cash Card: Best for spending category

The Citi Custom Cash Card is designed for cardholders who charge large monthly amounts at certain types of stores. Do you like to have lunch with friends after work? You can plan your purchases so that you get 5% cashback at restaurants. Movie buff? You can get 5% cashback for your streaming subscription. Renovating your home? You can get this money back when you buy new saws and plywood from home improvement stores.

Remember: you automatically get 5% cashback in your highest category, so you should plan accordingly. If you want to use Custom Cash to get 5% cashback on streaming services, then you should avoid using it for any other categories where you spend a lot, like groceries or gas.

Citi Custom Cash is a good choice for anyone who spends a lot of money in a certain type of store every month. If you’re more interested in cash back than a longer zero-interest offer, the Custom Cash card is your best bet.

bottom line

While the Citi Diamond Preferred and Citi Custom Cash cards offer long-term offers with zero interest, that’s where the similarities end. Diamond Preferred focuses more on its long balance transfer APR offer, though it does have a nice sign up bonus. On the other hand, the Citi Custom Cash card gives cardholders the opportunity to earn a lot of money back depending on how they spend each month.

Both are good choices if you need to pay off high-interest debt on other cards. The long-term, zero-interest balance transfer offer – 21 months for Diamond Preferred and 15 months for Custom Cash – gives you plenty of time to pay off other credit card debt without worrying about paying interest (before regular payments kick in at the end). APR). introductory periods).

If you can pay off your high-interest credit card debt in 15 months, a Custom Cash card will be a good addition to your wallet. If you think you need the additional six months provided by Citi Diamond Preferred, you can apply for that month instead.