Through the Citi Diamond Preferred Rewards Card, cardholders are entitled for five reward points for every dollar spent at selected supermarkets, drug stores and gas stations. However, this five-points-to-the-dollar offer is only valid for the first twelve months of membership. Once that's over, the regular reward system only awards one point per dollar spent, just like all the other purchases made to the card.

These earned points can be redeemed for all sorts of products and services from merchants such as Toys "R" Us, Home Depot and Starbucks. Additionally, cardholders are provided with the option to reduce the APR on the card for purchases and cash advances, something of a rarity amongst competing credit cards. However, there is a cap of 75,000 points earned in a year with points expiring within five years.

Interest rates for the Citi Diamond Preferred Rewards Card are also comparatively low in addition to no annual charges. On top of that, the 0% introductory rate is a splendid twelve months that can be applied towards balance transfers. Unfortunately, the interest rates for cash advances are based on a minimum of 19.99%. This means that even if the Prime Rate drops, you still have to pay through your nose should you come into some sort of emergency requiring a cash advance.

Nevertheless, the Citi Diamond Preferred Rewards Card is a reasonably packaged credit card. Cardholders planning to take advantage of the five point bonus and the 0% intro APR within the first twelve months will reap the most benefits. Nevertheless, those who don't will still get to enjoy the standard platinum cardholder benefits provided by Citibank.