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The Citi® Diamond Preferred® Rewards Card, issued
by Citibank, is designed for those with good credit who plan to take advantage
of the reward program offered.
Through the reward program, cardholders earn five points for every dollar spent
on purchases made at supermarkets, drugstores, and gas stations for the first
twelve months of cardmembership, one point thereafter, and one point for every
dollar spent on all other purchases. These points can be redeemed for various
items or services, and cardholders are given the option to reduce the card's APR
for purchases and cash advances for varying amounts of time (which is a rare
benefit). There is a 75,000 yearly limit to the number of points that can be
earned, and points will expire in five years.
This card has no annual fee, and it has a reasonable interest rate for purchases
and balance transfers in comparison to other reward cards. In addition, the card
has a 0% introductory rate that can be applied toward balance transfers for
twelve months. Nevertheless, it is important to note that there is a minimum cap
of 19.99% for cash advances; so no matter how low the Prime Rate falls (the APR
is tied to the Prime Rate), the interest rate will not go below the minimum cap.
The card does provide platinum cardholder benefits that include up to $1,000,000
in travel accident insurance, auto rental insurance, car rental discounts, and
various travel and emergency assistance services.
Therefore, those who plan to take advantage of the 0% introductory rate for
balance transfers and are interested in participating in the reward program will
benefit most from what the Citi® Diamond Preferred® Rewards Card has to offer.
Review Date: May 1st, 2007 |
