Citi Diamond Preferred Rewards Card
Published on Jan 12 2011 // Written By Tushar Mathur // Credit Card Reviews, Personal Finance, Product Reviews
The only prerequisites to applying for this card by Citibank, are that the person must be more than 18 years old and have a Social Security Number. It offers good service and value.
It has several advantages such as:
- Travel;
- Emergency help;
- Virtual account numbers ;
- It has no annual fee;
- It also has a 0% introductory rate, which serves as one of its best features;
- It has no interest for 21 months on balance transfers and purchases. This is why this card is considered one of the best credit cards that are interest free;
- It also has a private pass access that allows for the purchase of presale tickets and preferred seating among others. The private pass website has all event listed in it, ranging from golf, nightclubs, restaurants, sporting events, shopping, theatre, among many others;
- There is the Diamond Preferred Concierge Service also available, that caters for everything 24 hours a day 7 days a week, ranging from booking hotel room and flights, making restaurant reservations, purchasing concert tickets, and more;
- The card has a free benefit program known as Extra Cash from Citi that offers discounts on merchandise, entertainment, travel and others.
- A cardholder can also earn extra cash of up to 10% of purchases made with the card;
- There is price protection available with this card; however, it does not extend to certain items and internet purchases. On the other hand, where it is applicable, if a cardholder purchases an item with the card, and sees it being advertised in print, for a less amount within 60 days, they are entitled to a refund of a difference of up to $250;
- Another protection available is the retail purchase protection. This one provides for protection against theft and accidental damage, for up to 90 days from the purchase date, on most items purchased with the card;
- $0 liability on unauthorised charges. This feature prevents the holder from losing any money on unauthorised charges made on the card;
- The Travel and Emergency Assistance also protects the holders when travelling, either in the US or abroad. It components include legal and medical referrals, emergency transportation, lost luggage assistance and translation services, the MasterTrip Travel Assistance, MasterLegal Referral Service and Travel Services Medical Assistance;
- There is an Automatic Travel Accident Insurance at no additional cost, that covers the holder, spouse and dependent children, as far as plane, bus or train charges charged to the card are concerned. In addition, the Citi Photocard offers photo identification on the card;
- The Virtual Account Numbers feature allows for the generation of another credit card number, when operating online, offering added security; and
- The Citi MasterCard Payment Tag with Paypass is a technology that allows for payment by tapping the payment tag, found on a paypass reader, during checkout. A signature is only required for purchases above $25.
Just like any good thing however, it has its disadvantages. These are such as:
- It requires the cardholder to have good to excellent credit.
- It also has a high interest rate as far as cash advances are concerned. Therefore, cases of emergency require an APR of about 19.99% on it.
- In case of a default concerning the card’s agreement terms, a default rate of 28.99% is charged.
Sign up for the Citi® Diamond Preferred® Rewards Card
