Citi Double Cash Vs. Citi Diamond Preferred
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If you think about it, the credit card industry is stacked heavily toward consumers. It’s incredibly competitive, and there is no shortage of credit card issuers that are more than eager to earn your business. Two of the ways that banks try to acquire new customers is to offer cash back rewards and 0% APR interest free promotional financing to new customers. In addition, card issuers also like to include a wealth of travel insurance and purchase protection policies. Citi offers its Citi® Double Cash Card – 18 month BT offer with both promotional financing, a unique card where you can earn cash back twice–once when you make a purchase and again when you pay. Citi also offers its Diamond Preferred card features one of the top interest-free financing offers as well as numerous travel insurance and purchase protection policies.Citi® Double Cash Card – 18 month BT offer features 1% cash back when customers make a purchase, and another 1% cash back at the time of payment. This is up to 2% cash back with no limits on the amount that you can earn, and no category restrictions. Furthermore, new applicants receive 18 months of interest-free financing on balance transfers, with a 3% balance transfer fee.
The Citi Double Cash card is equipped with an EMV smart chip and is compatible with the Apple Pay mobile payment system. There is no annual fee for this card, and cardholders automatically have their first late fee waived. Nevertheless, there is a 3% foreign transaction fee imposed on all charges processed outside of the United States.Citi® Diamond Preferred® Card is an interesting product as it combines a leading promotional financing offer with a number of cardholder benefits normally reserved for reward cards. But at the same time, the Diamond Preferred does not offer any points, miles, or cash back rewards.
Cardholders receive a 0% introductory APR for 21 months on balance transfers (must be made within the first four months of card membership) and 12 months on purchases. Benefits include access to Citi’s Private Pass program, which features access to tickets for thousands of concerts, sporting events, dining experiences, and complimentary movie screenings. Citi’s Easy Deals program offers discounts for top brands such as Gap, CVS and Footlocker.
There is no annual fee for this card, but there is a 3% foreign transaction fee imposed on all charges processed outside of the United States. In addition, there is a 5% balance transfer fee on the amount transferred.
Which card should you get?
While there is no clear answer which card is better, choosing the right card for your needs between these two shouldn’t be hard. Those who need one of the longest possible promotional financing offers should definitely choose the Citi Diamond Preferred over the Citi Double Cash card. And since it’s a very full-featured product, it compares favorably to other 0% APR offers that have very few features and benefits.
On the other hand, those who avoid interest charges by paying their balances in full each month are more likely to look for a card that offers the most valuable rewards possible. By offering up to 2% cash back, the Citi Double Cash card is one of the best cash back rewards cards on the market, especially considering that it has no annual fee. Citi Double Cash card cardholders may also wish to take advantage of the 0% APR for 18 months on balance transfers, but its real strength is in its rewards.