Citi To Launch ‘Strata Elite’ Card To Rival Other Premium Cards

Citi has confirmed that it plans to launch an ultra-premium credit card, the Citi Strata Elite card, that will compete with other premium card offerings from American Express, Capital One, and Chase. This is based on statements from the card issuer during an earnings call.

Full details on what the card will offer for benefits, rewards, and potential fees are limited, but here is everything we know so far.

Citi To Launch Citi Strata Elite Card

The news, which was first reported by Bloomberg, was announced earlier today during Citi’s earnings presentation.

In that earnings call, Citi officials said that the issuer will launch a “new card called the Citi Strata Elite in the third quarter of this year that will round out our family of proprietary rewards cards.”

During the call, no details were given as to what benefits and rewards the card would offer, nor did Citi executives offer an exact date for when the card would launch. We have reached out to Citi for further comment but haven’t heard back by publication time.

This news follows Chase’s refreshing of the Chase Sapphire Reserve^® last month and Amex’s announcement that it has big plans for a refresh of The Platinum Card^® from American Express in September. And it comes years after the Citi Prestige^® Card stopped accepting applications in the middle of 2021 — leaving Citi without a premium credit card for interested applicants.

What Might the New Citi Strata Elite Card Offer?

Again, while no details have been confirmed, we anticipate that the new Citi Strata Elite card’s annual fee will be lower than that of the new Chase Sapphire Reserve card or the Amex Platinum card, as Citi doesn’t operate an independent lounge network like the other issuers.

That said, this isn’t Citi’s first foray into the ultra-premium space, as the card issuer previously offered the now-discontinued Citi Prestige card, which was a fan favorite of many frequent travelers thanks to its perks like a a fourth night free on hotel stays, lounge access, and an annual travel credit.

Recently, Citi has also been busy inking a deal to become the exclusive credit card issuer of the American Airlines co-brand portfolio of cards, leading some to speculate that American Airlines might eventually be added as a Citi ThankYou Rewards transfer partner.

In any case, in order to compete with the likes of the Amex Platinum card, the Chase Sapphire Reserve card, and the Capital One Venture X Rewards Credit Card, Citi will need to deliver an impressive new card to rival these heavy-hitters.

Final Thoughts

The credit card landscape has never been more competitive, and this is a great opportunity for Citi to reenter the ultra-premium market with its new Citi Strata Elite offering.

That said, we will have to suspend judgment on how worthwhile the card will be for consumers until more details about the card become available.