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Citi Simplicity vs Citi Diamond Preferred

REVIEW
 
 
REVIEW
 
 
Annual Fee
$0
$0
APR
16.24% to 26.24%* (variable)
15.24% to 25.24%*(variable)
Intro APR (Purchase)
0% APR for 12 Months
0% APR for 12 Months
Intro APR (Balance Transfer)
0% APR for 21 Months. You have 4 Months to transfer the balance.
0% APR for 21 Months. You have 4 Months to transfer the balance.
Balance Transfer Fee
$5 or 5% of transfer amount whichever is greater
$5 or 5% of transfer amount whichever is greater
By : Mr Credit Card

Intro: Almost Identical Credit Cards

Both the Citi Simplicity and Citi Diamond Preferred are eerily similar cards from Citi and they share their common claim to fame with arguably having the longest introductory period for their 0% balance transfer offer. Aside from this common feature, there are some subtle differences which we will explore in this comparison.


Common 0% APR Deal

Both cards share common 0% APR Deals.

  • 0% APR on Purchases - Both cards offer 0% APR on purchases for 12 months.

  • 0% APR on Balance Transfers - Both cards offer 0% APR on balance transfers for 21 months. You are allowed 4 months to do your balance transfer once you get your card. Both cards also have identical balance transfer fees. They are the greater of $5 or 5% of the transferred amount.


Other Similarities

  • Convenience Features - Both cards have identical "convenience features" (as Citi calls them). This includes features like Contactless Pay, Digital Wallets, Automatic account alerts, choice of due dates and 24/7 customer service. These are pretty much standard Citi features available on all of their cards.

  • Protection Features - Both have features like ID Theft Protection and $0 Liability from unauthorized charges.

  • No Reward Program - Both cards have no reward program.


Differences

  • APR - I was quite surprised to learn that both cards have slightly different regular purchase APR. The Citi Simplicity has a regular APR of between 16.24% to 26.24% while the Citi Diamond Preferred has a regular purchase APR of between 15.24% and 25.24%.

  • Citi Entertainment - The Citi Diamond Preferred has the Citi Entertainment features, which is a feature where you can get access to entertainment events, concerts and dining experience.

  • Late Fee - The Citi Simplicity does not charge any late fee if you make a late payment. Nor is there any penalty rate. This does not apply to the Citi Diamond Preferred.


Which is better?

To be honest, both card are essentially identical with just a few very minor differences. And I do not think these differences should have any impact on your choice. For example, I do not think you should choose the Citi Simplicity over the Citi Diamond Preferred simply because it does not charge any late fee. You should not have any intention to pay late and you should always pay on time anyway. Neither do I think the Citi Entertainment features will be a key factor.

There is slight difference in the regular APR and if you intend to carry the occasional balance, then I guess the Citi Diamond Preferred has the slightly edge.

At the end of the day, you are probably comparing these two cards because of the 0% APR deal. And from this perspective, they are both identical and you should be indifferent to either if you are looking at the 0% intro deal.