Citi is a TPG promoting associate.
What a yr 2025 is shaping as much as be for premium rewards bank cards. And as a fan of those merchandise, I like the competitors.
First, the Chase Sapphire Reserve® (see charges and charges) underwent a top-to-bottom transformation, and Chase additionally launched its first-ever premium enterprise card — the Chase Sapphire Reserve for Enterprise℠ (see charges and charges). We additionally know that The Platinum Card® from American Specific is on the verge of present process its personal refresh later this yr, and that Bilt Rewards simply introduced will probably be providing a three-tiered assortment of latest playing cards — together with a premium card.
If you’re holding rely, and you’re keen on these playing cards and their perks as a lot as I do, you would possibly begin to marvel what Citi may need up its sleeve as the opposite main gamers actively compete for pockets area within the profitable premium card market.
Because of Citi’s current earnings name, we now have at the very least one clue as to its subsequent transfer.
Citi to launch an all-new premium rewards bank card
Sooner or later this quarter (so by Sept. 30), Citi will launch a brand new premium bank card, the Citi Strata Elite, in line with remarks made on the financial institution’s July 15 earnings name.
The brand new Citi Strata Elite card is claimed to be becoming a member of Citi’s group of rewards merchandise in some unspecified time in the future within the coming months with a purpose to enchantment to “prosperous clients.” So whereas Citi has not shared the precise annual payment that can include this card, it feels protected to imagine it’s more likely to be within the vary of the annual charges of different premium playing cards, that are largely now within the roughly $400-$800 vary.
And whereas particulars in regards to the card’s advantages weren’t launched, we do know that this isn’t Citi’s first foray into the world of premium rewards bank cards.
Trying to Citi’s premium card previous to tell its future
The Citi Status® Card, which is not out there to new candidates, is a premium card that earns Citi ThankYou Rewards factors. It was out there via 2021 — although present cardholders have been in a position to hold it of their wallets.
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It has some rewarding bonus classes — reminiscent of 5 factors per greenback spent on airfare, eating places and journey businesses — provides a cool fourth-hotel-night-free perk, a $250 annual journey credit score and Precedence Move membership.
Whereas the cardboard actually had its followers, particularly those that may maximize that fourth-hotel-night-free perk, it was lacking just a few key perks in comparison with different main gamers within the premium card area, reminiscent of American Specific, Chase and Capital One. Specifically, it did not supply any proprietary lounge entry and was extra restricted in its distinctive switch companions inside the Citi ThankYou Rewards lineup.
The knowledge for the Citi Status and Citi Strata Elite Card have been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
What I hope to see from Citi’s new premium bank card
Naturally, as with every new bank card, I am hoping for a giant welcome bonus. For reference, the financial institution’s mid-tier $95-per-year Citi Strata Premier® Card (see charges and charges) is at present providing 60,000 factors with $4,000 in spending within the first three months, so I hope the bonus for this all-new card will are available in larger than that.
However past that, I might love some uniquely rewarding bonus classes that are not already provided on the lengthy record of different rewards playing cards. For instance, the very last thing I would like is one other card providing 2 or 3 bonus factors per greenback spent on eating and journey.
To assist offset the annual payment, I might wish to see a restricted variety of high-value however easy-to-use credit that do not require lots of thought and energy (as in, not a sophisticated “coupon guide” strategy).
And whereas it is perhaps a tall order, I might actually love Citi to now handle a few of the gaps that it had final time it had a proprietary premium rewards card.
Specifically, it might be nice to see the cardboard supply some form of distinctive lounge entry and/or switch companions which are laborious or unattainable to copy elsewhere. Entry to new or extra airport lounges — and even their grab-and-go youthful siblings — is all the time nice information, so I might like to see Citi supply distinctive lounge entry past the Precedence Move profit it had with its earlier premium card.
Moreover, the Citi ThankYou Rewards program itself is a step behind rivals, particularly for individuals who wish to lean into U.S.-based airline and resort applications. TPG’s July 2025 valuations have Citi ThankYou Rewards factors at 1.85 cents per level, which locations it behind Chase Final Rewards, American Specific Membership Rewards and Bilt Rewards. The overwhelming majority of its companions additionally work with different banks.
There was a quick second in time when Citi had American Airways as a switch associate, and the financial institution touted its “fantastic relationship” with American Airways in its current earnings name. As well as, a Citi spokesperson provided TPG the next assertion in December 2024, when it was introduced that the financial institution would turn out to be the unique issuer of American cobranded playing cards (emphasis ours):
“The growth and extension of our relationship with American Airways will positively affect our present and new buyer base as we introduce new merchandise and advantages sooner or later and produce expanded loyalty and rewards choices for AAdvantage® members and Citi-branded cardmembers. We’re not sharing specifics right now. Keep tuned.”
Lastly, implementing some form of distinctive resort perk or new journey profit that different premium rewards playing cards do not supply would additionally assist carve out a differentiated area for the Citi Strata Elite.
Backside line
Citi is gearing as much as launch a brand new premium card — the Citi Strata Elite — someday within the coming months. Particulars are scant, however given the issuer’s earlier premium product, we’ve got hopes primarily based on how the cardboard would possibly be capable to carve out its personal area of interest within the scorching premium card area.
Keep tuned to TPG, the place we are going to replace you as quickly as extra particulars turn out to be out there.
