Citi Diamond Preferred Invite 20.4% APR....What??!!

[Anonymous]

I see in the community here, a number of folks do apply for the Cit Diamond Preferred. My Pre Select to Apply inviation came today. As with this offer,  so many of these offers have these outrageous APRs. 20, 21, 24% those are crazy interest rates! This one I got is 21.24 Variable! So, 2 questions here, why would you get a card with such a high APR (unless building credit)? What is so special about this card? All I read is you get a Concierge. We have that with our Visa Sig cards. For this Diamond card, that is all I read about perks. I don't even see Thank you Points or cash back, or anything else.

[Skye12329]

You need a BT or purchase for quite some time. Because the DP offers 21 mos. 0% APR. Would probably be the big reason.

As for high APR, if you really want the card. Citi will lower interest rates when you ask after you have had a card with them for a while.

[kdm31091]

It's a no frills, basic credit card. Really only useful for long term 0 percent. For perks/rewards you'll want to look elsewhere

[Anonymous]

Thanks KDM and Skye for the replies. The intor APR is 0% for 12 months. I know Citi has sent other offers with 0% for 18 months. That would be worth it -if no BT fee.

[Anonymous]

I've been getting that exact same offer in the mail just about every month for a year now. Same 21.24% APR (used to be 20.99%) and same 12 month 0% APR. They just go in the trash because I don't need a BT card right now, and I know the current offer on the DP is 0% APR for 21 months. I've heard that others get crappy offers at first, and then Citi starts sending better offers - but for me, I just keep getting the same ole crappy offer.

[OmarGB9]

APRs can be reduced. I got a DP for the purpose of a BT (21 months 0%), but they gave me a very low limit so I SD'ed the card. I plan to PC to a DC when the intro period is over.

[Anonymous]

Lol they send those to everyone. My daughter and son get them too. Daughter is 7 and son is 10

[grillandwinemaster]

Maybe your daughter and son should send in the application to see what happens. For income they can write down their allowance. Lol

[NRB525]

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@kdm31091 wrote:
It's a no frills, basic credit card. Really only useful for long term 0 percent. For perks/rewards you'll want to look elsewhere

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True, the terms and conditions don't include frills.

But I've gotten numerous offers for 5% on up to $500 of spend for a quarter, usually for dining and entertainment, but also including groceries, gas and department stores, so it's potentially a "nice surprise" card. It's wrapping up a 6-month 1.9% on Purchases offer, and has BT offers regularly.

It was also the very first card any bank sent me with a chip, and it's black, so there's that   with a $1,000 limit even though I've had three attempts at a SP CLI.

I'm at the point now where it seems like it wouldn't be the same Nice Card if it had a higher limit   $1k is perfect.

[ScoreSizzle]

My wife has had this card forever. I'm going to have her call and see if she can get an upgrade. Same with the Slate. See if she can upgrade to the Freedom at least.