Citigroup’s New Strata Elite Credit Card Launched! What Will It Offer? Reward On Rentals, Travel, Dining, More

Citigroup has come up with a brand new premium credit card for those who spend the most on international flights, luxury dining, hotel bookings, etc. The credit card launch is an attempt by Citigroup to compete with existing players like American Express, JPMorgan Chase. These financial institutions offer a premium credit card range, including the Platinum Card and the Sapphire Reserve, reported Associated Press.

Citigroup's credit card comes with a wide range of offers, reward benefits, cashbacks, etc. Here are all the details about the brand new Strata Elite Card.

Strata Elite Card Annual Fee

The premium credit card comes with an annual fee of $595, which is equivalent to around Rs 51,461. There will be some discounts for CitiGold customers. They can enjoy a discounted price of $450 if they have deposits exceeding $200,000. Meanwhile, Citi Private Client customers with assets over $1 million may have their first-year fee waived and receive the same discount thereafter.

What About Welcome Offer and Points Structure?

New cardholders can earn 80,000 ThankYou points after spending $4,000 within the first three months. CitiGold members can earn a significantly higher number of points, ie 100,000 through specific in-branch promotions, according to media reports.

What Will Be The Point Structure?

The points earning structure includes 12× points on hotels and car rentals booked via Citi Travel and 6× points on air travel through the same portal, reported a US-based website, Doctors of Credit. GoodReturns couldn't independently verify the claim.

Dining Rewards

The credit card holders can earn dining rewards under the program 'Citi Nights', according to reports. They can get discount at selected restaurants from Friday to Saturday between 6 PM and 6 AM ET and earn 6x points. Other restaurant purchases earn 3× points, while all other spending earns 1.5× points. This structure encourages using the card for travel-related expenses.

Citigroup Strata Elite Card Exclusive Benefits

The card comes with exclusive premium perks on hotel and flight bookings. The card holders can also enjoy premium inter-city travel with discounts and reward points on car rentals. The card comes with an annual benefit of up to $300 for two-night stays booked through Citi Travel. Additionally, there's a $200 Annual Splurge Credit applicable to brands like American Airlines and Best Buy. Cardholders can also enjoy up to $200 in Blacklane chauffeur service credits spread throughout the year.

The card holders can also benefit from Priority Pass Select lounge membership and four Admirals Club lounge access passes. For frequent flyers, there is up to a $120 credit for Global Entry or TSA PreCheck application fees every four years.

Citi's re-entry into the ultra-premium space follows its discontinuation of the Prestige card in 2021. The Strata Elite aims to directly challenge cards like Capital One Venture X by offering competitive rewards and benefits. A potential unique selling point is Citi's position as the exclusive issuer of American Airlines co-branded cards.