Informational diversity is perceived as the key to improving team creativity. However, alignment along multiple informational diversity attributes, known as information-based faultlines, can both provide diverse knowledge and form subgroup bias. The key to reaping the benefits of information-based faultlines is to understand how to utilize the diversified knowledge and, meanwhile, reduce subgroup bias. This study aims to examine how team leaders’ cognitive reappraisal can play a such role. Based on data from 68 teams, we found that (1) information-based faultlines had a positive effect on knowledge utilization when team leaders’ cognitive reappraisal was high, (2) knowledge utilization had a positive effect on team creativity, and (3) team leaders’ cognitive reappraisal moderated the indirect relationship between information-based faultlines and team creativity through knowledge utilization.