The most prominent cards today are those that come with rewards. Truthfully, this is not surprising at all, since most people want to get free credits, merchandise, gift cards, and of course, cash whenever they use their cards. The concept of rewards has always been tantalizing to some, but there are also people who want a straightforward card, like the likes of Citi® Diamond Preferred® and Chase Slate. Both cards do not have rewards programs, but they are actually well-known in the field.
Both cards do not entitle you to rewards points whenever you make a purchase at supermarkets, drugstores, restaurants, or any other establishments. Citi may be known for its ThankYou points, but sadly, this feature is not included in the Diamond Preferred. Similarly, Slate does not offer points, despite the popular Chase Ultimate Rewards Program.
In terms of standard interest rates on purchases and balance transfers, both have the same variable rates. Depending on your creditworthiness as well as other factors, you may get an APR on both purchases and balance transfers starting from 11.99% to 21.99%. These two cards are actually distinguished in the area of balance transfers. If you are looking for a card that allows you to transfer your balances from another high-interest card, these two are your best options.
Another similarity between these two cards is the fact that they both do not have annual fees. Moreover, unauthorized purchases after reporting loss of card are both at $0 liability.
Credit cards are not created equal. As such, it can be expected that Citi® Diamond Preferred® and Chase Slate have their own differences. The former has a number of benefits that are not present in Slate. By the same token, Chase Slate also has redeeming qualities that easily outdo the other card. Slate is quite popular because of the no balance transfer fee, which is a rarity even in cards made for balance transfers, such as the Citi® Diamond Preferred®. Apart from the absence of the fee, you can enjoy 15 months of no interest on both purchases and balance transfers. On the other hand, while Citi® Diamond Preferred® requires a fee for balance transfers, it has a longer introductory period on both purchases and balance transfers APR. For 18 months, you don’t have to worry about the interest rate.
Citi is dominant in the perks arena. Diamond Preferred offers personalized concierge services 24 hours a day, 7 days a week. This feature is not present in the Chase card, which means that you cannot book flights and hotels through the help of personal concierge. In addition, you cannot access presale tickets and you cannot enjoy live entertainment experience using Slate. Such are possible with the Citi Private Pass. Nevertheless, Chase Slate comes with the Blueprint feature, which is free. This feature helps card holders to avoid high interests and to pay down their balances. It also allows them to add other user accounts at no additional cost.
Overall, the Citi® Diamond Preferred® and Chase Slate cards are almost identical. If you have a large amount of balance to move, Chase Slate is a superior option because it is balance transfer fee-free. However, if you want a longer introductory period and a few perks, the Citi® Diamond Preferred® Card is the way to go.