citi diamond preferred card travel benefits

Citi® Diamond Preferred® Card

At a glance.

• 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.24% - 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
• There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
• Get free access to your FICO® Score online.
• With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
• No Annual Fee - our low intro rates and all the benefits don't come with a yearly charge.

TPG Editor's Rating

• No annual fee.
• Longest introductory APR period for balance transfers.
• Does not earn rewards on spending.
• Balance transfer fee.

Who is this card good for?

The Citi Diamond Preferred Card is not full of perks like other cards, but it has another appealing attribute: the longest 0% APR period available on the market for a balance transfer. For people looking to consolidate their debt, this could be the card for you. No other card features almost two years of 0% APR on balance transfers.

Earning Rewards

No rewards available.

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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

Its long intro APR on balance transfers makes it a compelling option.

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As a Bankrate credit cards editor, Ashley Parks is fascinated by the ways people can make credit cards work for them when armed with the right knowledge.

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Courtney Mihocik is an editor at Bankrate Credit Cards and CreditCards.com specializing in credit card news and personal finance advice. Previously, she led insurance content at Reviews.com and worked as the loans editor at The Simple Dollar.

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Claire Dickey is a product editor for Bankrate, CreditCards.com and To Her Credit. Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer.

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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money and how we rate our cards . The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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Bottom line

This card’s long intro APR offer could give you a needed reprieve from interest charges, but its lack of rewards doesn’t offer much long-term value after you’ve paid off your balance.

Citi® Diamond Preferred® Card

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

0% for 12 months on Purchases

Purchase intro APR

Regular APR

Intro offer

Intro offer is not available for this Citi credit card.

Rewards rate

Rewards rate is not available for this credit card.

On This Page

• Current offer details

Citi Diamond Preferred pros and cons

• Reasons to get this card
• Reasons to skip this card

Balance transfer fee vs. interest payments

• Citi Diamond Preferred vs. other balance transfer cards
• Is this card worth getting?
• Rating methodology

Frequently asked questions

Citi is an advertising partner

Citi® Diamond Preferred® Card Overview

Whether you want to pay off debt with a balance transfer or finance new purchases, the Citi Diamond Preferred could be a lifesaver. This no-annual-fee card comes with a lengthy introductory APR offer on balance transfers, carries a decent intro APR offer for new purchases and gives cardholders with good to excellent credit a relatively low ongoing APR.

If you’ve accrued a large balance on other cards, the Diamond Preferred could be just what you need to minimize interest charges as you pay off debt. But if you’re more focused on financing new purchases and earning rewards, a cash back or rewards card with a longer intro APR period on new purchases may be a better fit.

• This card does not offer rewards 

Expert Appraisal: Typical See our expert analysis

0% APR offer

• 0 percent intro APR on balance transfers for 21 months on transfers completed within four months of account opening
• 0% for 12 months on Purchases 
• 5 percent balance transfer fee applies (or $5, whichever is greater) 
• 18.24% - 28.99% (Variable)

Expert Appraisal: Excellent   See our expert analysis

Rates and fees

• $0 annual fee 
• 3 percent foreign transaction fee 
• Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

Other cardholder perks

• Citi Flex Loan 
• Citi Entertainment 
• Citi Easy Deals 

Expert Appraisal: Typical  See our expert analysis

It has one of the longest introductory APR periods on qualifying balance transfers available.

The low ongoing APR could make the card worth keeping even after you’ve paid off your balance if you plan on occasionally carrying a balance.

The card has no annual fee, which helps cut costs when paying down debt.

The intro APR period on purchases is much shorter than the intro APR for balance transfers.

The 5 percent balance transfer fee (or $5, whichever is higher) is higher than typical.

There is no rewards program, limiting its long-term value.

Why you might want the Citi Diamond Preferred

The sizable intro APR on balance transfers and the potential for a lower-than-average ongoing APR make the Citi Diamond Preferred a competitive option among balance transfer cards. 

Intro APR offer: Impressively long for balance transfers

The advantage of a balance transfer card is to get the most time to pay off credit card debt. The Citi Diamond Preferred meets this need, offering a 0 percent intro APR period of 21 months from account opening on balance transfers (then 18.24 percent to 28.99 percent variable; greater of $5 or 5 percent balance transfer fee applies).

You have almost two years to pay your balance down without added interest. To qualify for this offer, you must complete your balance transfer within the first four months of account opening. While the Citi Diamond Preferred offers one of the longest transfer windows available, it’s best to transfer your balance as soon as possible to take advantage of the interest-free period. 

Ongoing interest rate: Lower than average

The low end of the Citi Diamond Preferred’s ongoing interest rate falls below the current average interest rate of around 20 percent, which is one of the highest APR averages on record. This means you still may be able to save more with this card compared to others even after the intro APR offers end.

Only a few cards match this low ongoing APR, and two of the best balance transfer cards have lower potential ongoing APRs: the Discover it® Balance Transfer credit card and the BankAmericard® credit card . Although these cards may save you more interest long-term, both have shorter intro APR periods on balance transfers.

Why you might want a different balance transfer card

While the Citi Diamond Preferred offers a stellar intro APR offer, the card’s long-term benefits are lacking. It has no rewards program or welcome offer, a high balance transfer fee and limited cardholder perks. Once you’ve paid your balance off or your intro APR period ends , the card’s limited value makes it difficult to justify keeping.

Rewards: No rewards structure or welcome offer

Although typical for many balance transfer cards, the Citi Diamond Preferred doesn’t offer rewards or a welcome offer. If your primary goal is to consolidate and pay off debt, the Citi Diamond Preferred may be ideal. But if you want to add a card to your wallet with more consistent long-term value, the Citi Diamond Preferred falls flat. The lack of a rewards program gives little incentive to keep the card long-term, and the disappointingly short intro offer on purchases does little to lift this card’s value.

You may be able to find rewards cards that have comparable intro APR offers if you’re willing to sacrifice a few months of zero interest for longer ongoing value. For instance, the Discover it® Balance Transfer has a shorter intro APR offer but earns 5 percent back on activated quarterly rotating bonus categories (up to $1,500 then 1 percent). Plus, Discover has a great portfolio of credit cards to choose from if you ever want to change your card once your intro APR period ends.

Rates and fees: Balance transfer fee is on the higher end

A balance transfer fee is often either 3 or 5 percent of the amount you transfer to another card. The Citi Diamond Preferred’s balance transfer fee falls on the high end at $5 or 5 percent, whichever is greater — which means transferring a balance with this card will be more expensive than what you’d find on other balance transfer cards. 

For example, if you transferred $1,500 to the Citi Diamond Preferred, Citi will tack on another $75 to the balance. However, its intro APR period is longer than most, so plugging your balance into a balance transfer calculator can help you see if a lower-fee card with a potentially shorter intro APR period would cost less than the Citi Diamond Preferred.

Other cardholder perks: Limited outside of the Citi-specific

Some perks the Citi Diamond Preferred offers could prove helpful, but they aren’t much to write home about. The Citi Flex Loans perk, available by invitation only, allows you to borrow money against your Citi credit card limit at a fixed rate and pay it back over a set period of time, with no additional fees, application or credit inquiry required. This feature could be useful if you need a personal installment loan down the line. 

Meanwhile, Citi Entertainment and Citi Easy Deals are common shopping and entertainment access portals like you’d find with other issuers. However, if you are trying to pay off debt, the Citi Easy Deals could add to your balance, so it might not be the most worthwhile perk if you’re paying down debt. The upside is that the lack of perks on this card may help you focus on paying off debt rather than chasing statement credits or spending requirements.

If you’re carrying credit card debt and facing high-interest charges each month, any balance transfer card can help you pay down that balance. However, the Citi Diamond Preferred could help pay over a longer period than most balance transfer cards. Transferring your balance can help you save on interest and give you a time-based incentive to pay off your debt. While you might not be able to pay off your entire balance during a card’s introductory period, having a deadline can be a great way to motivate monthly payments.

Here’s a look at how much you could save on interest by transferring a balance to the Citi Diamond Preferred, assuming you have average credit card debt (around $6,000), an average APR on your current card (around 20 percent) and make fixed monthly payments of $240. Based on data from Bankrate’s balance transfer calculator and minimum payment calculator, a balance transfer will enable you to pay off your debt five months earlier and save a little over $1,400 in this example. Your only extra cost with the Diamond Preferred would be the $5 or 5 percent balance transfer fee.

*Then an ongoing APR of 18.24% - 28.99% (Variable)

How the Citi Diamond Preferred compares to other balance transfer cards

A handful of cards match the Citi Diamond Preferred Card’s intro APR offer and offer additional benefits like cash back rewards or a lower ongoing APR. Here’s how the Citi Diamond Preferred compares to competing balance transfer credit cards.

Recommended Credit Score

BankAmericard® credit card

Citi Double Cash® Card

Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.

Citi Diamond Preferred Card vs. BankAmericard credit card*

The BankAmericard credit card is also a balance transfer card with minimal cardholder perks and no rewards program. It offers an intro APR on balance transfers (made within the first 60 days) and new purchases. While the card’s lower ongoing APR is a plus, its real advantage is the longer intro APR on new purchases. 

Along with better intro APR periods and a lower ongoing APR, BankAmericard has a lower 3 percent intro balance transfer fee for 60 days from account opening, then 4 percent. Looking at the total cost of a balance transfer, the BankAmericard may have the edge. It’s also the obvious choice if you need more than a year to pay off new purchases or plan to carry a balance after your intro APR period ends.

Citi Diamond Preferred Card vs. Citi Double Cash Card

Since the Citi Diamond Preferred Card is designed for balance transfers, it doesn’t carry much value after you’ve paid off your balance. Depending on how much time you need, it may be worth choosing the Citi Double Cash® Card over the Diamond Preferred since it earns an excellent cash back rate on top of its competitive intro balance transfer APR period (balance transfers must be within the first four months).

Since the Double Cash only charges an intro balance transfer fee of 3 percent ($5 minimum; 5 percent after the first four months), it might help you save even more. For instance, paying off a $3,000 balance in 21 months with a $150 monthly payment using the Diamond Preferred card would add an extra $150, while the Double Cash card would result in a lower amount of $90. This detail may make choosing between the Citi Diamond Preferred and Citi Double Cash easier.

Who is the Citi Diamond Preferred right for?

As a solid balance transfer card, the Citi Diamond Preferred is most beneficial to anyone who wants to pay off their debt.

Dedicated debt reducers

The Citi Diamond Preferred is best at helping people pay down large balances with a balance transfer. If your only goal is to pay off debt with a lengthy intro APR, you will find what you need with the Citi Diamond Preferred. 

Bankrate’s Take — Is the Citi Diamond Preferred worth it?

If you need to pay down debt or finance purchases, the Citi Diamond Preferred Card should be a good fit. Though it carries a high $5 or 5 percent balance transfer fee and lacks rewards or cardholder perks, this card should get the job done if you want to tackle debt without paying interest. 

The shortened intro purchase APR and limited long-term value may make no-annual-fee rewards cards with slightly shorter intro APR periods more worthwhile options, especially after you’ve paid off your balance. If you need the longest period possible to pay down your balance, the Diamond Preferred is still solid, but other balance transfer-focused cards also offer more favorable intro APR periods on purchases.

How we rated this card

Our proprietary card rating system takes into account a mix of factors when scoring balance transfer and low-interest cards, including each card’s introductory APR, intro APR period length, ongoing APR, balance transfer fee, perks and more.

While balance transfer and low-interest cards share a similar ratings rubric, we weigh features differently based on how a card is categorized. We categorize cards that carry an especially long intro APR offer on balance transfers as dedicated balance transfer cards, while cards that offer an especially low ongoing APR are considered general low-interest cards. 

Based on its features, we assigned this card a primary category of balance transfer and tailored our ratings accordingly. 

We analyzed over 100 of the most popular balance transfer and low-interest cards and scored each based on how its key features stacked up against those of other cards in its category. 

Here’s a breakdown of what gave this card its score:

Intro and ongoing APR

The primary factor in a balance transfer or low-interest card’s rating is the quality of its introductory APR offer and ongoing APR. This includes both the introductory rate itself and the length of the intro APR on both balance transfers and new purchases. 

For cards designed primarily for balance transfers, the intro APR offer on balance transfers has the largest impact on overall score. The quality of these cards’ intro APR on new purchases is also considered, but holds less weight than the intro APR on balance transfers. 

For general low-interest cards, the intro APR offer on new purchases has the largest impact on overall score, followed by the ongoing APR and intro APR offer on balance transfers. This weighting assumes cardholders considering a card in this category will prioritize payment flexibility on new purchases or may need to carry a balance long term, whereas cardholders trying to pay off debt will opt for a dedicated balance transfer card.

The cards that score the highest in these categories tend to offer long 0-percent intro APRs on both balance transfers and new purchases as well as a lower-than-average low-end APR. 

Along with evaluating each card’s intro APR offers, we score balance transfer and low-interest cards based on their fees. 

Of primary importance is a card’s balance transfer fee, since this can play a large role in the total cost of a balance transfer. We rate each card’s balance transfer fee based on how it stacks up against the fee you’ll find on competing cards. 

While this fee carries less weight when we assess general low-interest cards than dedicated balance transfer cards, it still factors into our evaluation since cardholders may decide to transfer debt to a low-interest card even if it offers no intro APR or an intro APR higher than 0 percent.

And while a lower balance transfer fee could save you more overall than a few extra months of 0-percent intro APR, this fee carries less weight in our scoring system than a card’s introductory APR and intro APR period. This is because many users prioritize getting as much time as possible to pay off debt while avoiding interest. 

Our ratings also factor in the presence of annual, foreign transaction, cash advance and late payment fees, along with penalty APRs. Annual fees are weighted most heavily since these are the only “unavoidable” fees in the list and tend to be less common on dedicated balance transfer and low-interest credit cards.

Perks and long-term value

While getting a generous intro APR offer and low ongoing APR are likely to be the biggest priorities for someone looking for a low-interest or balance transfer card, we also consider how much value a card can offer after its intro APR comes to an end. 

Balance transfer and low-interest cards receive a higher rating if they also include an ongoing rewards program or unique and valuable perks. Such features make a card more useful long term and make it less likely you’ll need to apply for a new card (and temporarily hurt your credit score) after you pay off debt.

*The information about the BankAmericard® credit card   has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

How do you transfer a balance to Citi Diamond Preferred?

Log into your Citi account, go to "Payments and transfers," select "Balance Transfers" and select the balance transfer offer you want. Unlike some issuers, Citi allows you to transfer balances from select sources other than credit cards, including eligible loans. Type in the details for each of the creditors that you'll be transferring your balance from (such as the account number and name of the creditor) and you should be set. You can also apply for a card over the phone or contact the issuer's online banking customer service.

What credit score do you need to get a Citi Diamond Preferred card?

Apply with a good to excellent credit score (a 670–850 FICO score or a 661–850 VantageScore) for your best  chance to qualify for a Citi Diamond Preferred card.

What are the perks of a Citi Diamond Preferred card?

The Citi Diamond Preferred carries no exclusive perks outside the long intro APR period. You may qualify for certain Mastercard perks depending on your card's status. Your Citi credit card also grants you access to the Citi Entertainment, Citi Easy Deals and Citi Flex Loan features which may grant you exclusive entertainment experiences, discounts or financing opportunities.

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.

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• Compare the Citi® Diamond Preferred® Credit Card
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Citi Diamond Preferred Card Review 2024

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews .

The information for the following product(s) has been collected independently by Business Insider: Citi® Diamond Preferred® Card, Chase Freedom Flex℠, U.S. Bank Visa® Platinum Card, Citi Simplicity® Card. The details for these products have not been reviewed or provided by the issuer.

The Citi® Diamond Preferred® Card 's biggest selling point is the 0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months (then a 18.24% - 28.99% Variable APR).

This zero-interest introductory offer is one of the longest 0% intro APR periods we've seen from any credit card. However, the Citi® Diamond Preferred® Card doesn't earn rewards for spending, nor does it usually come with a welcome bonus offer.

0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months, then 18.24% - 28.99% Variable APR.

0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months

18.24% - 28.99% Variable

Good to Excellent

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Very long intro APR period for balance transfers
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No annual fee
• con icon Two crossed lines that form an 'X'. Charges a balance transfer fee
• con icon Two crossed lines that form an 'X'. No rewards (but that’s not the point of this card)

The Citi® Diamond Preferred® Card's biggest selling point is the intro APR on balance transfers and purchases — among the longest of any card with an intro APR offer. However, it doesn't earn rewards for spending, nor does it usually come with a welcome bonus offer.

Citi® Diamond Preferred® Card Overview

When you begin looking at zero-interest credit cards , you'll probably notice that quite a few rewards credit cards offer a 0% intro APR on purchases and/or balance transfers for a limited time. This includes popular cash-back credit cards like the Chase Freedom Flex℠ and the Chase Freedom Unlimited® . 

The Citi® Diamond Preferred® Card's intro rate makes it ideal for those who want to consolidate high-interest debt or who want to make a large purchase and pay down the balance slowly without interest over time. 

Balance transfers must be completed within the first four months of account opening in order to qualify for the zero-interest introductory offer, and you'll owe a balance transfer fee of 5% of the amount you transfer over (minimum $5).

This can still translate to significant savings compared to carrying the balance on a high-interest credit card as long as you pay off what you owe before the promotional APR period runs out.

Citi® Diamond Preferred® Card Rewards

This card doesn't offer a traditional welcome bonus, nor does it offer any rewards on spending. Instead, the main selling point of the Citi® Diamond Preferred® Card is its long 0% introductory APR period. 

Citi Diamond Preferred Card Benefits

The Citi® Diamond Preferred® Card doesn't offer many benefits beyond its intro interest rate offer. Here are the main perks you should know about.

0% Introductory APR

The card's crown jewel is its ability to waive interest on balances transferred to the card for 21 months. That's an exceptionally long time — and one of the best intro APR periods — for consumers hoping to avoid incurring high interest fees.

The Citi® Diamond Preferred® Card also offers 0% intro APR on new purchases for 12 months, which is very helpful for big-ticket expenses that you can't or don't want to pay off all at once.

Free FICO Score Access

As a Citi® Diamond Preferred® Card cardholder, you can have free access to your FICO score at any time. This tool can help you monitor changes or improvements to your credit score, or find out quickly if your score drops. 

Entertainment Benefits

Citi® Diamond Preferred® Card holders also get Citi Entertainment benefits, which include special or early access to tickets to concerts , sporting events, dining experiences, and more.

Citi® Diamond Preferred® Card Annual Fee and Other Costs

The Citi® Diamond Preferred® Card has no annual fee, but there are some ongoing fees to be aware of:

• Foreign transaction fee: 3% of each purchase transaction in US dollars (consider one of the many credit cards that don't charge foreign transaction fees to save money when you travel abroad instead)
• Balance transfer fee : Either $5 or 5% of the amount of each transfer, whichever is greater
• Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater

After your intro APR period ends, you'll be subject to 18.24% - 28.99% Variable APR — a fee that can be completely avoided by not carrying a balance on your cards.

Compare the Citi® Diamond Preferred® Card

The best balance transfer credit cards with longer 0% intro APR offers and no rewards programs are designed for people who need to pay down debt. While the lack of rewards can be a downside, you can save a significant amount of money from interest you'd otherwise be paying on a high-interest credit card. Avoiding rewards can also elp you focus more on debt repayment by lessening the temptation to spend money.

In addition to the Citi® Diamond Preferred® Card, several other credit cards offer extra-long intro APR offers, such as the U.S. Bank Visa® Platinum Card (0% intro APR on purchases and balance transfers for 18 billing cycles, then a 18.74% - 29.74% Variable APR) or the Citi Simplicity® Card (0% intro APR on balance transfers for 21 months (transfers must be completed within four months of account opening) and on purchases for 12 months, then a 19.24% - 29.99% Variable APR). However, these cards don't come with a welcome bonus or earn rewards.

There's also the Discover it® Balance Transfer , which offers a 0% intro APR on balance transfers for 18 months and on purchases for six months, then a 17.24% - 28.24% Variable APR. There's no welcome bonus on this card either, but cardholders earn 5% cash back in categories that rotate each quarter on up to $1,500 in combined spending when you activate (then 1%) (from April 1 to June 30, 2024, you can earn 5% cash back at gas stations & electric vehicle charging stations, home improvement stores, and public transit on up to $1,500 in purchases after enrollment, then 1%). Plus, Discover will match all the rewards you earn after the first 12 months through its Cashback Match program — with no limits.

Just remember that, whichever card you choose, you'll still have to make the minimum payment each month, and your intro 0% APR offer won't last forever. You'll need to focus on paying off as much debt as you can since you'll eventually be charged the ongoing variable APR on your remaining balance.

Citi® Diamond Preferred® Card  Frequently Asked Questions

Most folks who are approved for the Citi® Diamond Preferred® Card have a credit score in the good  to  excellent range — that is, a FICO score of 670 or more.

Transferring a balance is easy to do online through the "Balance Transfers" section under the "Payments and Transfers" menu in your Citi account. You'll be given the option to add the account details of the creditor or account you'd like to transfer a balance from, along with the amount you'd like to transfer to your Citi® Diamond Preferred® Card account.

You can also complete this process over the phone by calling the number on the back of your card. Be sure to complete any balance transfers within four months of account opening to take advantage of the card's 0% intro APR offer. 

The Citi® Diamond Preferred® Card is a great card if you're looking to consolidate high-interest debt by taking advantage of a long intro balance transfer offer. Doing so can save you hundreds of dollars or more, as long as you have the means and plan to pay off your balance before the intro period expires. You should weigh the pros and cons beforehand to decide if a balance transfer is worth it for your situation.

You can be approved for a credit limit as low as $500 or over $10,000. Your credit limit will depend on your creditworthiness.

You can ask for a credit limit increase by calling Citi or making an online request. Just note that you almost certainly will not qualify if you make this request a month or two after opening your card. Citi will want to see a track record of healthy credit before extending more.

The Citi® Diamond Preferred® Card does not earn rewards.

Why You Should Trust Us: How We Reviewed the Citi® Diamond Preferred® Card

The Citi® Diamond Preferred® Card is first and foremost a 0% intro APR credit card. We've examined the card's rewards rate and various fees against cards in the same category to arrive at our rating of 2.75 stars out of 5 stars.

To find out more about Business Insider's methodology for picking the best credit cards , read our guide to how we rate credit cards .

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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Credit Cards > Reviews

Citi Diamond Preferred Card review 2024: Save on interest charges for almost two years

Julie Sherrier

Robin Saks Frankel

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Updated 7:18 a.m. UTC April 5, 2024

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Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy .

Citi is a Blueprint partner.

If you’re saddled with a large balance on a high-APR credit card, the Citi® Diamond Preferred® Card offers the opportunity to avoid interest charges for almost two years with an industry-leading balance transfer period. We’ll explain more in our detailed Citi Diamond Preferred card review.

our partner

Blueprint receives compensation from our partners for featured offers, which impacts how and where the placement is displayed.

Citi® Diamond Preferred® Card

Welcome bonus

Regular apr, credit score.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Editor’s Take

• New applicants receive four months to complete qualifying balance transfers and get intro APR financing.
• 21 months of intro APR financing from the date of the first transfers.
• No annual fee.
• Only 12 months of intro APR financing on new purchases.
• No rewards.
• No meaningful card benefits outside of the intro APR.

Card details

• 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.24% – 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
• There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
• Get free access to your FICO® Score online.
• With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
• No Annual Fee – our low intro rates and all the benefits don’t come with a yearly charge.

Why trust our credit card experts

Our team of experts evaluates hundreds of credit cards and analyzes thousands of data points to help you find the best card for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.

• 45+ cards analyzed.
• 5 data points considered.
• 5-step fact-checking process.

Citi Diamond Preferred basics

• Annual fee: $0.
• Welcome bonus: None.
• Rewards: None.
• APR: 0% intro APR for 21 months on eligible balance transfers from the date of the first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 18.24% to 28.99%. Balance transfers must be completed in the first four months. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies.
• Recommended credit score: Good to excellent.
• Does the card offer preapproval? No.
• Other benefits: Free FICO Score and Citi Entertainment access.  

Citi Diamond Preferred review

The Citi Diamond Preferred card has one job: To help you save money on your existing high-interest debt via the card’s lengthy intro APR balance transfer offer. The card offers new cardholders a 0% intro APR for 21 months on eligible balance transfers from the date of the first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 18.24% to 28.99%. Balance transfers must be completed in the first four months. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies. Once the introductory offer expires, the card loses much of its luster. But if you’re looking for the longest balance transfer period you can find on a card, the Diamond Preferred shines.

Citi Diamond Preferred pros

• Long introductory APR on balance transfers: The Citi Diamond Preferred offers one of the longest intro APRs for balance transfers at 21 months.
• No annual fee: The Citi Diamond Preferred charges a $0 annual fee.
• Introductory APR on purchases: In addition to the intro APR on balance transfers, the Citi Diamond Preferred also comes with an intro APR on purchases.

Citi Diamond Preferred cons

• High balance transfer fee: The Citi Diamond Preferred charges a high balance transfer fee of 5% of each balance transfer; $5 minimum.
• Potentially high APR once promotions expire: Once the intro APR offers expire, the ongoing APR of 18.24% - 28.99% (Variable) will apply to any unpaid balance. Your ongoing APR will be determined based on your creditworthiness.
• No rewards: After the intro APR periods end, cardholders won’t benefit from any cashback or rewards points programs associated with the card.

Citi Diamond Preferred APR

New cardholders are eligible for a 0% intro APR for 21 months on eligible balance transfers from the date of the first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 18.24% to 28.99%. Balance transfers must be completed in the first four months. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies. Know that if you are late with a payment, you will most likely forfeit either of the intro APR promotions as well as incur a potential late fee.

If using the Citi Diamond Preferred for its lengthy balance transfer offer, it’s best to avoid using the card for new purchases as that defeats the purpose of trying to pay off a large balance. If you want to use the Citi Diamond Preferred for the intro APR on purchases, know that there are other credit cards offering longer intro purchase APR deals than the Citi Diamond Preferred.

Citi Diamond Preferred balance transfer savings potential

To illustrate how much you can save using the Citi Diamond Preferred’s balance transfer offer, let’s assume you are carrying a $10,000 balance on another card with a 20% APR and want to pay it off in 21 months:

• With your current card balance, you’ll need to pay $568 a month to pay it off in 21 months, which includes $1,934 in interest charges.
• If you transfer that balance to the Citi Diamond Preferred, your total payoff amount will be $10,500 as this includes the balance transfer fee of 5% of each balance transfer; $5 minimum.
• Your monthly payments will be reduced to $500 a month.
• Your total savings would be $1,434 ($1,934 minus $500 for the balance transfer fee), providing you don’t add to the balance with any new purchases.

Know that in exchange for such a lengthy balance transfer offer, cardholders will be charged a higher-than-average balance transfer fee. Balance transfer fees are typically 3% to 5%. So, to justify a higher balance transfer fee, it’s best for large balance transfer amounts, where the savings will be greatest.

Citi Diamond Preferred perks

The Citi Diamond Preferred card is pretty sparse when it comes to additional benefits, such as car rental insurance or cellphone protection. Here’s what is included with the card:

• Free FICO Score access: Monitor your credit score anytime through your card’s online portal.
• Citi Entertainment: Cardholders can get special access through Citi Entertainment for tickets to sporting events, concerts, dining experiences and more.
• Contactless payment: Easy chip-enabled tap-and-pay payment processing.

How the Citi Diamond Preferred compares to other balance transfer cards 

Citi diamond preferred vs. wells fargo reflect® card * the information for the wells fargo reflect® card has been collected independently by blueprint. the card details on this page have not been reviewed or provided by the card issuer..

Another balance transfer card boasting a balance transfer intro rate for almost two years with no annual fee is the Wells Fargo Reflect . Plus, the Wells Fargo Reflect also offers a 0% intro APR for 21 months from account opening on purchases and on balance transfers made within the first 120 days, afterwards a 18.24%, 24.74%, or 29.99% variable APR applies. There’s a balance transfer fee of 5% with a $5 minimum.

The Wells Fargo Reflect offers cardholders a cellphone protection plan and access to roadside dispatch as benefits, but no rewards program. Both cards are an excellent choice if you’re looking to tackle some existing high interest debt.

Citi Diamond Preferred vs. BankAmericard® credit card * The information for the BankAmericard® credit card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.  

The $0-annual-fee BankAmericard also offers a 0% intro APR for 18 billing cycles for purchases and any balance transfers made in the first 60 days, and then a variable APR of 16.24% to 26.24%. An intro balance transfer fee of 3% of each transaction made within 60 days of account opening applies. After that, the fee will be 4% of each transaction. Although there are no rewards with this card either, if you happen to miss a payment deadline, you won’t lose your promotional APR. 

If you have an irregular paycheck, this may give the BankAmericard an edge over the Citi Diamond Preferred. However, the BankAmericard’s intro balance transfer offer is shorter than the Diamond Preferred’s, which means you’ll have less time to pay off your debt without occurring interest charges.

Citi Diamond Preferred vs. Citi Double Cash® Card

If you’re looking for a balance transfer card that has staying power after the introductory period, consider the Citi Double Cash card. The card has no annual fee and offers a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% to 29.24%. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed in the first 4 months. After that, the fee will be 5% of each transfer (minimum $5). There is no intro APR offer for purchases, however, and no travel or cellphone protection benefits.

While your transferred balance does not earn cash-back rewards, any purchases you make with the card can earn 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24. Although it’s not the longest balance transfer period you’ll find, you’re likely to find a reason to continue using this card after you pay down your debt.

The Citi Diamond Preferred card is right for you if:

• You’re seeking a no-frills balance transfer card offering a generous introductory APR period. 
• The cost of the balance transfer fee added on to your existing debt is still less than what you’d pay in interest on your current credit card.
• You have a plan to pay off all or most of your debt within the intro APR period.

Methodology

Our credit card team has spent hours analyzing hundreds of credit cards. We took a deep dive into the details of each product and that analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings.

Frequently asked questions (FAQs)

Typically, generous intro APR balance transfer cards are reserved for customers with good to excellent credit, which FICO defines as 670-850*. You can use Citi’s pre-selection card tool to see if you qualify without generating a hard inquiry. 

*Credit ranges listed here are derived from FICO® Score 8, which is one of many different types of credit scores. If you apply for a credit card, the lender may use a different credit score when considering your application for credit.

No, the Citi Diamond Preferred card does not charge an annual fee.

While Citi does not share specific credit limit information for the Citi Diamond Preferred, the higher your credit score and the longer you’ve responsibly used credit, the better your chances are to receive a reasonable credit limit. Once you receive your card, you can always contact customer service to ask for a credit limit increase, provided your credit history is in excellent shape.

Another strong competitor to the Citi Diamond Preferred is the U.S. Bank Visa® Platinum Card * The information for the U.S. Bank Visa® Platinum Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. . The no-annual-fee U.S. Bank Visa Platinum Card offers a 0% intro APR on purchases and balance transfers for 21 billing cycles, then a variable APR of 18.74% to 29.74%. There’s an intro balance transfer fee of 3% of each transfer or $5 minimum, whichever is greater for balances transferred in the first 60 days, then a fee of either 5% or $5 applies, whichever is greater. 

The U.S. Bank Visa Platinum Card also comes with a cellphone protection plan. There is no rewards program with the U.S. Bank Visa Platinum Card, but if you’re looking for a lower balance transfer fee in exchange for a with a similar balance transfer promotional period, then you may want to take a closer look at the U.S. Bank Visa Platinum Card.

*The information for the BankAmericard® credit card, U.S. Bank Visa® Platinum Card and Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Julie Stephen Sherrier is a personal finance writer and editor based in Austin, TX. She is the former senior managing editor for LendingTree, responsible for all credit card and credit health content. Before joining LendingTree, Julie spent more than a decade as the managing editor and then editorial director at Bankrate and CreditCards.com. She also served as an adjunct journalism instructor at the University of Texas at Austin.

Robin Saks Frankel is a credit cards lead editor at USA TODAY Blueprint. Previously, she was a credit cards and personal finance deputy editor for Forbes Advisor. She has also covered credit cards and related content for other national web publications including NerdWallet, Bankrate and HerMoney. She's been featured as a personal finance expert in outlets including CNBC, Business Insider, CBS Marketplace, NASDAQ's Trade Talks and has appeared on or contributed to The New York Times, Fox News, CBS Radio, ABC Radio, NPR, International Business Times and NBC, ABC and CBS TV affiliates nationwide. She holds an M.S. in Business and Economics Journalism from Boston University. Follow her on Twitter at @robinsaks.

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• Chase Sapphire Preferred Card

Chase Sapphire Preferred Card Travel Insurance – 10 Frequently Asked Questions [2024]

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Chase Sapphire Preferred Card Overview

Recap of chase sapphire preferred card travel insurance, travel accident insurance, trip cancellation and interruption insurance, 2. does chase sapphire preferred card travel insurance cover cruises, 3. what does the chase sapphire preferred card baggage insurance cover, 4. what does the chase sapphire preferred card medical insurance cover, 5. does the chase sapphire preferred card cover hotel cancellations, 6. does the chase sapphire preferred card cover airbnb cancellations, 7. does chase sapphire preferred card travel insurance cover rental cars in other countries, 8. does the chase sapphire preferred card cover turo or zipcar rentals, 9. how do i file a chase sapphire preferred card travel insurance claim, 10. do i need travel insurance if i have the chase sapphire preferred card, final thoughts.

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

The Chase Sapphire Preferred ® Card remains one of the most popular travel rewards credit cards for numerous reasons. Alongside excellent earning rates and a fair amount of benefits that justify the $95 annual fee, the card also offers numerous shopping and travel insurance benefits.

If you’re like most people, you hear the word “insurance,” and your eyelids start feeling heavy. Let’s be honest: Insurance isn’t thrilling. The terminology can feel confusing, leaving you with many questions about what exactly the travel insurance on your Chase Sapphire Preferred card does and doesn’t cover.

You have questions, and we have answers. Here’s a simple look at your most common questions about travel insurance on the Chase Sapphire Preferred card.

Chase Sapphire Preferred ® Card

A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.

The Chase Sapphire Preferred ® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance . With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

• 5x points on all travel booked via the Chase Travel portal
• 5x points on select Peloton purchases over $150 (through March 31, 2025)
• 5x points on Lyft purchases (through March 31, 2025)
• 3x points on dining purchases, online grocery purchases, and select streaming services
• 2x points on all other travel worldwide
• $50 annual credit on hotel stays booked through the Chase Travel portal
• 6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
• Excellent travel and car rental insurance
• 10% annual bonus points
• No foreign transaction fees
• 1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt
• $95 annual fee
• No elite benefits like airport lounge access or hotel elite status
• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
• Member FDIC

Financial Snapshot

• APR: 21.49%-28.49% Variable
• Foreign Transaction Fees: None

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Before moving any further, let’s ensure you’re familiar with the long list of travel protections built into the Chase Sapphire Preferred card :

• Auto rental collision damage waiver
• Baggage delay insurance
• Lost luggage reimbursement
• Travel accident insurance
• Trip cancellation and trip interruption insurance
• Trip delay reimbursement

You’ll also enjoy several other cardholder benefits and protections beyond travel insurance :

• Extended warranty protection
• No foreign transaction fees
• Purchase protection
• Roadside dispatch
• Travel and emergency assistance

Some of the benefits seem more obvious than others. And, as with all insurance, there are always specific terms to understand, exclusions to mind, and coverage limits . Let’s clear some of those up.

1. What Flight Insurance Does the Chase Sapphire Preferred Card Have?

When flying, you’ll have 2 types of insurance: travel accident insurance and trip cancellation and interruption insurance. Both types are in effect for trips for which you paid at least a portion of the cost with your Chase Sapphire Preferred card. Let’s look at each benefit.

Travel accident insurance applies to you and your immediate family members if one of you becomes permanently injured or dies while traveling. The cardholder benefit guide lists specific dollar amounts that you can be paid for specific injury types. The coverage is further divided into 2 categories: traveling on a common carrier and 24-hour coverage .

Coverage related to a common carrier covers both injuries and death resulting from your travel on a licensed air, land, or sea transport that regularly carries paying passengers . Think planes and ferries, for example. You’ll also be covered while at an airport, terminal, or station immediately before or after a trip, including courtesy transport to or from these places if provided as part of your trip. If your flight booking includes the airline picking you up from the hotel, this could be covered if all other conditions are met.

The 24-hour coverage applies around the clock and is valid on trips of up to 30 days. If you take a trip longer than this, coverage will end 1 minute after midnight on the 31st day, though it would come back into effect when you are in transportation to the airport for your flight home. If you drive yourself to the airport, coverage should resume once you are inside the airport .

This benefit reimburses you for the money you lose when a trip paid for (in whole or part) with your card is interrupted or canceled. Trip interruption is when you’ve started the trip and must end it early for a covered reason; trip cancellation applies to canceling a trip before it begins. The maximum benefit payout here is $10,000 per person and up to $20,000 per trip. Both the cardholder and immediate family members are covered.

Trip cancellation coverage begins when you make your first deposit toward the trip and ends when you depart on your scheduled departure date. Trip interruption starts on your scheduled departure date and ends on your scheduled return date. However, if these dates or times are adjusted for reasons beyond your or the carrier’s control, the benefit will adjust automatically .

What expenses are reimbursable? They include nonrefundable, prepaid travel expenses by a licensed supplier, such as a travel agency, hotel, shore excursion agency, etc. When canceling for a covered reason, you’re also covered for redeposit fees to get your airline miles back. Unfortunately, this benefit doesn’t cover lost money you paid for tickets to shows or theme parks, tee times at golf courses, museums, or other entrance fees unless they’re part of a tour package.

You’ll be covered for a few more situations with trip interruption coverage only . These include fees for returning a rental car early or to the nearest facility and up to $250 of expenses to transport you for necessary medical treatment. However, that doesn’t include medical transport (such as ambulances or medevac).

What if you paid with Chase Ultimate Rewards points and are due a refund under these benefits? You’ll be reimbursed according to the value on your travel supplier’s confirmation receipt, assuming that’s listed. If there’s no trip value listed on the receipt after you paid with points, you’ll be reimbursed at a value of 1 cent per point.

Covered Reasons

Not every reason for canceling a trip or ending it early is covered under these benefits. Covered reasons include accidental death or injury, a sickness requiring hospitalization, severe weather, a named storm warning, a change in military orders, a subpoena or call to jury duty, your home being burglarized or becoming uninhabitable, your hotel becoming uninhabitable, a public transportation strike that makes you miss 20% of a trip or a scheduled tour departure, and more. Consult the Chase Sapphire Preferred card benefits guide to see if your specific cancellation or interruption reason is covered.

Trip cancellation insurance doesn’t cover everything. For example, changing your mind about a trip is not covered. If your plans are subject to change, you may want to purchase Cancel for Any Reason (CFAR) travel insurance .

This part is a bit confusing, but yes. Chase’s benefits guide for the Chase Sapphire Preferred card states explicitly that cruise lines aren’t included in the definition of a “common carrier.” However, cruise lines are included in the definition of a “travel supplier.”

Why does this matter? Many of the trip cancellation and trip interruption benefits only apply to travel with a common carrier, which doesn’t include cruise lines. However, some benefits do apply to cruises . These include stolen luggage benefits or even canceling a trip if delays mean you’ll miss at least 20% of the trip or that you’ll miss the departure of your cruise ship.

The travel accident and injury benefits also apply while you’re cruising, but it’s worth noting that returning late to your cruise ship, only to find it’s left for the next island without you, isn’t a covered expense. You’ll be on your own for the costs of catching up to your ship.

There are 2 types of baggage protection here: coverage for delayed bags and coverage for lost, stolen, or damaged luggage. Baggage delay insurance covers up to $100 per day for up to 5 days when your bags are delayed by at least 6 hours, covering each additional 24 hours past that until the maximum of 5 days is reached. This benefit applies to you and your immediate family members when you pay for at least part of your trip with your Chase Sapphire Preferred card. You don’t need to be traveling with your immediate family members for them to be covered , as long as at least part of their trip was paid for with your card, which can be a nice perk if you book travel for relatives.

Coverage begins on the scheduled departure date and ends on the scheduled return date, though coverage adjusts automatically if there are changes outside your or the travel provider’s control. There’s also a list of non-covered items, such as medical devices, losses due to war/conflict, electronics, and cash equivalents. In case of baggage delay, you must report it to the travel provid er as soon as possible and keep receipts for necessary expenses you incur ; you’ll submit these for reimbursement afterward.

Lost luggage reimbursement is different; it covers lost, stolen, or damaged luggage during your trip. Both checked and carry-on bags are covered up to a maximum of $3,000 per person per trip. However, there’s a limit of $500 for jewelry, watches, and electronics.

There are some specifics to understand about this coverage, however. First, it doesn’t cover items you leave behind by accident . Second, coverage applies to you and immediate family members (even if you aren’t traveling with them) so long as you paid for at least part of the trip with your Chase Sapphire Preferred card. Coverage is available from the scheduled start to the scheduled end of your trip, but it is automatically adjusted if there are uncontrollable delays to either date.

Coverage applies to common carriers and cruise lines, and you must report the loss, theft, or damage within the timeframe specified by your travel provider. Then, the coverage on your Chase Sapphire Preferred card will cover any difference in the value of your monetary loss (after depreciation of the items) and the payment you receive from the travel provider . Thus, this is secondary coverage. It’s worth noting that documents, furs, tickets, and cash-like items aren’t covered.

Accidents can happen on any trip, from accidentally slipping on the wet deck of a cruise ship to spending nights in a hospital at a far-flung destination. Does your health insurance at home cover you when you head to Florida? What about South America? These are questions worth asking. If your medical coverage won’t be in effect, it’s worth considering medical travel insurance .

The Chase Sapphire Preferred card includes travel accident insurance for you and your immediate family members . It’s in effect if you pay at least part of the airfare for your trip with this card. You’ll receive varying maximum payouts depending on the type of injury (or death) encountered during your trip, and the maximum limit also depends on whether the accident occurs while traveling on a common carrier or at some other point during your trip . The 24-hour benefit provides maximum coverage of $100,000, increasing to $500,000 when traveling on a common carrier.

But how does this work in practice?

If more than 1 person is injured , the benefits administrator will pay no more than 2 times the maximum limit for each type of injury. That sum will be divided among all covered persons eligible for benefits payments.

In case of death , the benefits administrator will give the money to your named beneficiary. If you haven’t named a beneficiary, the order of preference goes from a spouse or domestic partner to children, then parents, siblings, and finally, your estate. If you go missing and haven’t been found after a year, then this will trigger the “loss of life” benefit.

Coverage begins either when you reach the airport, station, or terminal for travel on a common carrier or when you enter courtesy transportation provided to take you to the point at which your trip begins, such as a train station or airport. If you didn’t buy your tickets in advance but are purchasing them when you arrive at the station, coverage begins once you make the payment for travel. Coverage ends after you leave the transportation vessel or exit the courtesy transportation provided afterward.

The 24-hour coverage functions a bit differently. It’s in effect around the clock for up to 30 days, starting from your scheduled departure for air travel. If your trip is longer than 30 days, coverage will pause 1 minute after midnight on the 31st day and resume when you reach the airport for a flight home or are in courtesy transportation to the airport for the flight home.

Obviously, there are exclusions. You aren’t covered if you’re a pilot or crew member on a flight, you get injured while committing a crime, you get injured while skydiving, your injury is self-inflicted, or you’re injured in a war.

Lastly, you may wonder how COVID-19 factors in . The benefits guide says this under covered losses: “Quarantine of you or your traveling companion imposed by a physician or a competent governmental authority having jurisdiction, due to health reasons.”

Thus, your illness could be covered if a doctor or government requires quarantine related to COVID-19. COVID-19 is generally covered under most travel insurance policies in the same way sicknesses are covered. However, not traveling to avoid COVID-19 risks isn’t covered. As the benefits guide says, “Your disinclination to travel, a country closing its borders, or a travel supplier canceling or changing travel arrangements due to an epidemic or pandemic.”

Hotels aren’t treated separately under the Chase Sapphire Preferred card travel insurance terms. If you must cancel or interrupt a trip for a covered reason, then your hotel cancellation fees can be covered. This would include situations like forfeiting a first night’s room cost for canceling your hotel booking at the last minute, assuming you couldn’t arrive for a covered reason, such as a travel delay or a last-minute injury that made you unable to travel.

While you won’t find the word “Airbnb” or even “vacation home” in the benefits guide, you will find a description that covers these types of rentals :

“Provider of Lodging – a hotel, inn, motel, bed and breakfast, or hostel; a Provider of Lodging includes non–commercial time shares, condominiums, or rentals of a private residence; such rental shall require a written contract between You and the property owner or management company, executed in advance of the commencement of the rental period …” Chase Sapphire Preferred card benefits guide.

So long as you’ve reserved your rental in advance and have a written contract — which Airbnb provides at the time of booking, courtesy of your confirmation details — your vacation home rental should count as a type of lodging. The contract must state the cancellation provisions, must not include a rental of more than 60 days, and your booking must be made directly with a licensed website or agent — not with the homeowner directly (unless that person is a licensed agent).

Airbnb is a covered lodging type, meaning your booking should qualify for trip interruption, trip cancellation, and trip delay coverage .

In short, yes. However, there are some exclusions. Since your personal auto insurance policy may not cover you abroad, it’s great to know that paying with your Chase Sapphire Preferred card and declining the rental company’s collision damage waiver can provide protection on your next rental .

You can be covered up to the actual cash value of most rental cars against theft or collision damage. Coverage can include administrative fees, loss-of-use charges, and even towing charges. Coverage applies to rentals up to 31 days and covers you plus any additional drivers listed on the rental contract .

You’ll need to use your card (or your points) to pay for the entire cost of the rental , and most vehicle types are covered by this primary insurance. However, coverage doesn’t apply to exotic or antique cars, high-value vehicles, cargo vehicles, motorcycles, RVs, or vans with seating for more than 9 people (including the driver). Note that Teslas qualify as high-value vehicles, so these aren’t covered .

The benefits guide doesn’t spell out any specific excluded countries . However, Visa typically excludes coverage in Israel, Jamaica, and Northern Ireland, plus you may not be able to use your card to pay for a rental (and thus coverage won’t be in effect) with U.S. Treasury Department monetary embargoes . These destinations include places where your credit cards won’t work, such as Cuba, Sudan, Syria, and North Korea.

Unfortunately, no. Because Turo and Zipcar rentals aren’t considered rentals from a rental car agency, most credit card rental car insurance doesn’t cover them .

To file a claim, you should first gather all of the documents related to your claim . These can include receipts, accident reports, police reports, photos, hospital records, or anything else pertinent to the type of claim you’re making.

Next, you can call the benefits administrator at 866-390-9735 or visit eclaimsline.com to submit online . Different claims have different required timelines. For example, auto claims must be filed within 100 days of the incident. However, you need to file within 90 days for baggage delays or losses, but you’re supposed to contact the benefits administrator within 20 days of these incidents to at least provide notice, even though you have 90 days to finish submitting the claim.

This question will be subjective, and different people will arrive at different conclusions. Travel insurance can be useful for the unexpected, but no 2 trips are equal. The best way to decide whether you need additional insurance beyond what the Chase Sapphire Preferred card offers is to look at what it doesn’t cover.

Will you be skydiving? Do you have significant trip expenses related to Turo rentals or short connections that could cause domino effects if you miss a departure time? Are you renting an RV or going camping — types of travel not covered by the Chase Sapphire Preferred card?

If you have prepaid, nonrefundable expenses that wouldn’t be reimbursed by your credit card’s travel insurance in the event of delays or cancellations, getting a travel insurance policy that covers these could be a good idea and could provide peace of mind. That said, not every travel activity is covered by every travel insurance policy, so you want to make sure you choose a policy that covers your expenses for your particular trip .

If you look at your trip and decide that your flights, hotel plans, and simple plan of just relaxing at the beach will be covered by the Chase Sapphire Preferred card, then purchasing an extra policy probably isn’t necessary.

The Chase Sapphire Preferred card offers numerous protections for purchases and trips. Insurance terms can feel confusing, but hopefully, the explanations of these policies should clarify what is and isn’t covered, as well as policy limits, in a way that helps you know whether the coverages are sufficient for your upcoming travels.

Want to learn more about what else this card offers beyond travel insurance? Consult our full Chase Sapphire Preferred card review .

Frequently Asked Questions

Does the chase sapphire preferred card have trip insurance.

Yes, it has several types of travel protections. Cardholders get rental car insurance, baggage delay insurance, lost and damaged luggage reimbursement, travel accident insurance, trip cancellation and interruption insurance, and trip delay reimbursement.

How to file a claim with the Chase Sapphire Preferred card travel insurance?

You can call the benefits administrator at 866-390-9735 or visit eclaimsline.com to submit online. Each claim type has different required documents and a different required submission timeline, so check your benefits guide for your specific claim type.

Does the Chase Sapphire Preferred card reimburse for travel cancellation?

Yes, you can be reimbursed for monetary losses of up to $10,000 per person and up to $20,000 per trip if you cancel for a covered reason. You’ll need to pay for at least part of your trip with your Chase Sapphire Preferred card, and the cancellation must be for a covered reason, such as death, injury, or being called to active military duty.

What insurance does Chase Sapphire Preferred card cover?

The Chase Sapphire Preferred card has several types of travel protections. Cardholders get rental car insurance, baggage delay insurance, lost and damaged luggage reimbursement, travel accident insurance, trip cancellation and interruption insurance, and trip delay reimbursement. Cardholders also get shopping insurance benefits, such as purchase protection and extended warranty protection, plus other benefits like roadside dispatch and travel and emergency assistance services (though these are pay-per-use benefits).

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About Ryan Smith

Ryan completed his goal of visiting every country in the world in December of 2023 and now plans to let his wife choose their destinations. Over the years, he’s written about award travel for publications including AwardWallet, The Points Guy, USA Today Blueprint, CNBC Select, Tripadvisor, and Forbes Advisor.

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• What are the Costco Visa travel benefits

What are the Travel Benefits of the Costco Anywhere Visa® Card by Citi?

Exclusively for Costco members, the Costco Anywhere Visa Card by Citi offers cash back on all purchases and additional cash back on categories such as eligible gas and EV charging, restaurants and eligible travel and purchases from Costco and Costco.com. Cardholders also enjoy access to Citi Entertainment ® .

These benefits and more can make the Costco Anywhere Visa a great card for travel. Let’s look at how it works.

Cash back rewards on travel

Cardholders earn unlimited 3% cash back at restaurants and eligible travel purchases. This can include airfare, hotel stays, car rentals, travel agencies, cruises and Costco travel.

Cardholders can also make the most of road trips and vacation car rentals with 4% cash back on eligible gas and EV charging transactions for the first $7,000 every year. After the first $7,000, cardholders continue to earn 1% cash back in these categories.

Other travel benefits

Cardholders can also get access to services and benefits like:

• Travel and emergency assistance
• Worldwide car rental insurance
• Travel accident insurance
• Roadside assistance dispatch service
• Zero foreign transaction fees 1

Terms, conditions and exclusions apply, please see here for more information.

These services and benefits help take the stress out of travel so you can enjoy a worry-free, relaxing vacation.

Access to Citi Entertainment

Citi Entertainment opens the door to popular experiences, such as concerts, sporting events and dining.

With the Costco Anywhere Visa Card by Citi, cardmembers can get special access to purchase tickets to thousands of events, including presale tickets and exclusive experiences for some of the most anticipated concerts, sporting events and dining experiences.

Whether you want to attend a local event while on vacation or plan a trip around a concert, your Costco Anywhere Visa® Card by Citi can enhance your travel with special entertainment experiences.

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Disclosure : This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.

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