Citi Simplicity vs. Citi Diamond Preferred
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Just because you have credit card debt, it doesn’t mean you will be treated right by your credit card issuer. Citi has two cards with outstanding offers for interest-free financing on new purchases and balance transfers–the Citi Simplicity and the Diamond Preferred–yet each has a very different way of pleasing cardholders. Let’s take a look at both products, and see which one is right for you.
Nevertheless, when Diamond Preferred cardholders make a payment after the due date, they will incur late payment fees of up to $35 and a penalty interest rate of 29.99% APR. The standard interest rate is 14.99% - 24.99%* (Variable) based on the creditworthiness of the cardholder at the time of application. But as with Simplicity, there is no annual fee for this card.
Which Offer Makes Sense for Your Needs?
The Citi Simplicity is the card for those who live in fear of costly late payment fees and high penalty interest rates. With Simplicity, cardholders can do the best they can to pay off their balance and make payments on-time, but know that a small mistake will not result in huge penalties.
The Citi Diamond Preferred card is for someone who is normally interested in premium credit cards, but is more focused on paying off their debt rather than earning rewards. The interest rates for these two cards are very comparable, with the Diamond Preferred offering a slightly lower rate.
Since these two cards feature the longest period of promotional financing offered by any major card issuer, most applicants can’t go wrong when picking one of the two cards. The Simplicity is clearly the safe, conservative approach, while the Diamond Preferred is as much of a luxury card as anyone can expect with no annual fee and outstanding introductory financing.