When looking for a new credit card, it can be confusing to sort through all of the fine print. Most cards highlight the benefits that are included, but the downsides are not always as obvious. Like many others, the Citi Diamond Preferred Card comes with both advantages and disadvantages. Here’s a breakdown of its features to help you decide whether or not to apply for one.

Citi Diamond Preferred Card: The Pros

Perhaps one of the biggest advantages of this card is that it has a reasonable APR for those that qualify. Depending on your credit background, you could receive an interest rate as low as 8.49%.

In addition to the low regular interest rate, the Citi Diamond Preferred Card offers an introductory period of 0% APR. This can last for up to 12 months. During this time, you can bring over an existing balance from another card and pay it off. You can also make purchases and won’t be charged with interest expenses while the initial offers lasts.

Those who apply for this card will also find many additional services included. Through the Identity Theft Solutions program, Citi specialists will help you if you feel you’ve been a victim of fraud. You can also set up your account so that you have a virtual account number. This allows you to make purchases online without using your real card number.

If your card is lost or stolen, a new one will be trb system issued to you, free of charge. And you can choose to have your photo on the card for extra security. Auto rental insurance and other travel services are included when you sign up. You could even get up to $1,000,000 in travel accident insurance. One last benefit is that the card does not charge any annual fees.

Citi Diamond Preferred Card: The Cons

To apply and get approved for this card, you will need to have good or excellent credit. This is not necessarily a disadvantage, but it is important to know before you sign up. If you have credit that needs improvement, consider looking for a different option. Many are available that can help you rebuild your finances.

Another potential disadvantage is that the Citi Diamond Preferred Card has a high interest rate for cash advances. If you need to take out cash for an emergency, you can expect to pay at least 19.99% APR on it. It would probably be safer to avoid taking out cash advances, if at all possible, with this card.