The Bank of America® Travel Rewards and the Citi® Diamond Preferred® Card have good introductory APR periods and no annual fees. The BofA Travel Rewards is better for earning travel rewards, offering unlimited 1.5 points per $1 on all purchases and a 25,000-point welcome bonus. The Citi Diamond Preferred is excellent for balance transfers, with a longer 0% APR period of 21 months.
Bank of America® Travel Rewards
vs. Citi® Diamond Preferred® Card
Updated: November 22, 2024
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Bank of America® Travel Rewards
Citi® Diamond Preferred® Card
On Issuer's Site
On Issuer's Site
Which Card Is Better for You?
You might prefer the BofA Travel Rewards if you travel often and want to earn points on every purchase. With this card, you’ll earn unlimited 1.5 points per $1 spent, redeem points for travel-related expenses and enjoy no foreign transaction fees.
You might prefer the Citi Diamond Preferred if you want to save on interest with balance transfers. It offers a long 0% introductory APR on balance transfers and includes free FICO® Score access and Citi Entertainment®.
Head-to-Head Comparison: Card Details and Features
Evaluating APRs, fees, credit requirements and rewards will help you choose the card that fits your needs. For example, BofA Travel Rewards' travel points might appeal to you. If you need to consolidate debt, Citi Diamond Preferred's longer 0% APR on balance transfers could save you more on interest.
Regular APR: Citi Diamond Preferred
The Citi Diamond Preferred has a lower regular APR, starting at 18.24%, lower than the BofA Travel Rewards' 19.24%.
Annual Fee: Tie
The BofA Travel Rewards and the Citi Diamond Preferred have no annual fee, helping cardholders avoid extra costs.
Introductory 0% APRs: Citi Diamond Preferred
The Citi Diamond Preferred has a longer 0% APR on balance transfers — 21 months versus BofA Travel Rewards' 15 billing cycles. Despite its higher 5% balance transfer fee, the Citi Diamond Preferred is better for transferring and paying down existing balances.
Rewards: BofA Travel Rewards
The BofA Travel Rewards offers unlimited 1.5 points per $1 spent on all purchases. Points don't expire and can be redeemed for travel, dining or cash back. The Citi Diamond Preferred doesn't offer any rewards.
Welcome Offers: BofA Travel Rewards
The BofA Travel Rewards gives 25,000 bonus points after spending $1,000 in the first 90 days, equivalent to a $250 statement credit for travel. The Citi Diamond Preferred has no welcome bonus.
Recommended Credit Score: Tie
Both cards require a good to excellent credit score of 670–850.
Penalties and Fees: BofA Travel Rewards
The BofA Travel Rewards has no foreign transaction fees, while the Citi Diamond Preferred charges a 3% foreign transaction fee. Both cards have similar late and cash advance fees.
Issuer Satisfaction: BofA Travel Rewards
Customers report higher satisfaction with Bank of America, the issuer of BofA Travel Rewards, rating it 4.5 compared to Citi’s 4.1.
Other Features and Perks: Tie
The BofA Travel Rewards gives 25% to 75% more points on every purchase to Preferred Rewards® members. The Citi Diamond Preferred offers special event access through Citi Entertainment® and free FICO® Score access.
Methodology
MoneyGeek uses a tailored scoring system to review credit cards like the BofA Travel Rewards and the Citi Diamond Preferred based on various use cases. This ensures you get relevant, unbiased information to choose the card that best fits your needs.
This comparison focuses on balance transfers, considering factors like the quality of the balance transfer offer and the terms of the 0% APR on purchases.
FAQ: BofA Travel Rewards vs. Citi Diamond Preferred Card
What are the main benefits of the BofA Travel Rewards?
The BofA Travel Rewards lets you earn 1.5 points per $1 on all purchases and enjoy travel rewards with no foreign transaction fees.
How long is the 0% APR period for balance transfers with the Citi Diamond Preferred?
The Citi Diamond Preferred offers a 0% introductory APR on balance transfers for 21 months.
Does the BofA Travel Rewards charge foreign transaction fees?
The BofA Travel Rewards comes with no foreign transaction fees.
Does the Citi Diamond Preferred earn rewards?
The Citi Diamond Preferred doesn't offer rewards. However, its long 0% APR period allows you to save money with balance transfers.
Can I earn bonus points with the BofA Travel Rewards?
With the BofA Travel Rewards, you can earn 25,000 bonus points after spending $1,000 in the first 90 days. That’s a $250 statement credit for travel purchases.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.