Citi is a TPG advertising partner.
My entry into the world of credit card rewards, points and miles was a little later than some of my colleagues. (I’m looking at you, TPG veterans Nick Ewen and Eric Rosen.) I was beyond excited when I opened my first transferable points credit card, the Chase Sapphire Reserve®, upon its debut in 2016.
However, I always felt I missed the mark by not applying for the Citi Prestige® Card, which has been closed to new applicants since 2021. Nonetheless, I applied for its mid-tier sibling, the Citi Premier, in 2018 since it still possesses great bonus-earning categories and a long list of transfer partners. When I did feel ready for the Citi Prestige, Citi had trimmed down some of its greatest benefits, and I always wondered how I would have maximized its perks.
With Citi rebranding the Citi Premier to the Citi Strata Premier℠ Card (see rates and fees) in May 2024, I’m excited to see the issuer soon re-enter the premium credit card market with a successor to the Prestige.
Here’s a rundown of what I look forward to seeing in an upcoming “Citi Strata Elite card.”
The information for the Citi Prestige and Premier has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Expanded lounge and Priority Pass restaurant access
All the major competitors of Citi that issue premium credit cards provide lounge access. Chase Sapphire Reserve cardholders receive access to Chase Sapphire lounges, The Platinum Card® from American Express cardmembers can access Amex Centurion Lounges, and those with the Capital One Venture X Rewards Credit Card can get into Capital One Lounges and a newly unveiled Capital One Landing concept.
Beyond access to an issuer’s branded lounges, the cards mentioned above come with a complimentary Priority Pass Select membership. Additionally, Amex Platinum cardmembers enjoy the largest portfolio of lounges to choose from, including Delta Sky Clubs (limited to 10 annual visits from Feb. 1) and select Lufthansa lounges. Enrollment is required.
Online data points suggest that Citi may unveil its own array of issuer-branded lounges called Strata Lounges; I look forward to unlimited access for cardholders and guests. However, with airports running out of space for lounges, this leaves very few options for the upcoming Strata Lounges. Some possible locations for the new lounges could be Chicago’s O’Hare International Airport (ORD) and Orlando International Airport (MCO).
Daily Newsletter
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts
To set itself apart from the competition, I’d like to see Citi provide cardholders with Priority Pass restaurant access, a perk the other three major issuers have removed over the past few years.
Another neat lounge benefit for the new premium card would be reintroducing Admirals Club lounge access when flying American Airlines. Citi offered this perk for two years, starting in 2015, before cutting it. This would be somewhat similar to the Amex Platinum’s perk of enjoying access to Delta Sky Clubs and certain Lufthansa lounges. The rationale behind the move is that Citi is set to become the exclusive issuer of American Airlines branded cards in 2026, and such a move would signify a deepening of ties between the two.
If not unlimited access to Admirals Clubs, then it would be competitive to see a number of complimentary lounge passes or a discounted Admirals Club membership instead.
Travel-oriented statement credits
The current version of the Citi Prestige offers cardholders a $250 air travel credit that includes airfare and flight-related purchases, such as baggage fees, upgrades and seat selection. I’m hoping that the new premium Citi card has a travel credit to at least match what the Citi Prestige offers; however, a $300-plus credit would be even better.
Both the Chase Sapphire Reserve and the Venture X offer a $300 travel credit, with the Reserve taking the lead by making it applicable to any travel purchase, whereas Capital One restricts its use to the Capital One Travel portal. Whichever travel credit is offered, I predict it will be restrictive and limited for use through the Citi travel portal.
I hope the fourth-night-free benefit for hotel bookings (limited to two uses per year) via the Citi travel portal will continue to be offered with the new premium Citi card — and perhaps those hotel stays could count toward elite status. As of November 2024, select bookings through The Edit by Chase Travel℠ allow cardholders to earn hotel points and elite benefits.
Issuers have expanded beyond airlines and hotels for perks and offer exclusive benefits with ride-hailing companies. Both American Express and Capital One have relationships with Uber, offering either statement credits or a complimentary Uber One membership.
Chase and Lyft are slated to wind down their partnership on the Sapphire Reserve, which recently lost Lyft Pink All Access membership, and select Chase credit cards are set to lose their bonus-earning category with Lyft at the end of March.
This would be a great opportunity for Citi to partner with Lyft, offering a complimentary Lyft Pink All Access membership to their Strata Elite cardholders along with a bonus-earning category for Lyft rides and perhaps statement credits. Not only would this make the new Citi card more competitive, but it would also fill a gap left by Chase.
New transfer partners
Citi currently has 21 transfer partners, including notable loyalty programs, such as Cathay Pacific Asia Miles, Qatar Airways Privilege Club and Singapore KrisFlyer. The issuer has a healthy mix of Oneworld, SkyTeam and Star Alliance airlines.
As Citi and American Airlines deepen their relationship, I expect American Airlines AAdvantage to be added as a transfer partner. While I wish for a 1:1 transfer ratio, it’s more probable it will be lower. Bilt Rewards and American ended their partnership in June 2024, so the only ways to transfer points to the program are through Marriott Bonvoy (at a 3:1 ratio), World of Hyatt (at a 2.5:1 ratio) and IHG One Rewards (at a 5:1 ratio).
I find it hard to imagine a 1:1 transfer rate to AAdvantage, as it could devalue the program by flooding it with transferable points from Citi cardholders. However, any ability to transfer to the program with a better rate than Marriott Bonvoy would be beneficial to cardholders.
Next, American Express, Bilt, Capital One and Chase all have Air Canada Aeroplan as a transfer partner — and for good reason. The program’s distance- and zone-based chart with several sweet spots and plethora of partner airlines give it an edge over other Star Alliance frequent flyer programs. My hope is that Aeroplan is on Citi’s radar, and such a move would position the new premium card and the Citi ThankYou Rewards program more competitively.
Another set of transfer partners that can offer additional value would be Avios-earning programs, such as those of British Airways, Finnair and Iberia. Currently, Qatar Airways Privilege Club is Citi’s only Avios transfer partner, so it would seem like a natural move to add another Avios transfer program.
Overall, adding new transfers would increase the valuation of Citi ThankYou Rewards points, which we currently peg at 1.8 cents apiece, according to TPG’s January 2025 valuations. Keep in mind that more transfer partners for an issuer also opens the avenue to more frequent transfer bonuses.
Related: Credit card transfer bonuses: Current bonuses available
Reasonable annual fee
No one likes paying a high annual fee for their credit cards; if you hold several premium credit cards, the cost really adds up. The silver lining to credit card annual fees is that they are typically on par with a card’s benefits and perks.
Typically, cards with annual fees of over $300 offer travel benefits, statement credits and higher earning rates. The Amex Platinum has a hefty $695 annual fee (see rates and fees), while the Chase Sapphire Reserve has a $550 annual fee.
The current version of the Citi Prestige has a $495 annual fee; I expect the new premium Citi Strata Elite to have either the same or a slightly higher annual fee of no more than $550, putting it head-to-head with the Sapphire Reserve but also a notch below the Amex Platinum’s annual fee.
When the Citi Premier refreshed to the Citi Strata Premier in mid-2024, we did not see a change to its annual fee. Therefore, it’s possible the upcoming Citi Strata Elite could maintain the same annual fee as its predecessor.
A high annual fee would be worth it as long as the card offers value to cardholders through useful statement credits, premium travel perks and impressive earning rates.
Lucrative earning rates
Competitive earning rates are the way to keep earning points and a strong reason to apply for a card. Despite the card’s changes over the years, the Citi Prestige still has impressive earning rates, including 5 points per dollar spent at restaurants (including takeout and delivery) and with airlines and travel agencies.
As a current Amex Platinum cardmember, I can say that the Prestige is the only card that gives the Platinum a run for its money by competing head-to-head with its 5 points per dollar spent on airfare. I hope the Citi Strata Elite will have the same earning rates, including 3 points per dollar spent on hotel and cruise purchases.
With such impressive earning rates, the new premium Citi card would outright beat other competitors like the Sapphire Reserve and the Venture X. The Sapphire Reserve earns 3 points per dollar spent on travel and dining, while the Venture X earns 2 miles per dollar spent on most purchases.
To take it up a notch, it would be spectacular to see the upcoming premium Citi card add new bonus-earning categories such as groceries or gas/electric vehicle charging.
Related: The best rewards credit cards for each bonus category
Comprehensive travel and shopping protections
In 2019, Citi removed a suite of travel and shopping protections from its cards, including the Prestige. With the refresh of the Citi Strata Premier, Citi reintroduced several travel protections, including trip cancellation and interruption, trip delay, lost and damaged luggage, and car rental coverage.
The successor to the Citi Prestige should offer more comprehensive travel and shopping protections than its lower annual fee sibling. I’m looking forward to additional protections as well, including baggage delay, travel accident insurance, purchase protection and extended warranty.
The addition of these various protections brings the card up to par with its direct competitors and gives cardholders peace of mind knowing that their trips and other purchases are covered.
Related: Your guide to Chase’s trip insurance coverage
Bottom line
The successor to the Citi Prestige, dubbed the Citi Strata Elite, has big shoes to fill. 2025 could finally be the year we see a new premium Citi card hit the market. I look forward to the continuation of legacy Citi Prestige perks, as well as expanded lounge access, additional transfer partners, new travel statement credits and a reasonable annual fee.
Citi has the potential to shake things up and carve out a market share dominated by American Express, Capital One and Chase. By taking advantage of a deepened relationship with American Airlines and exploring partnerships with brands like Lyft, the Citi Strata Elite has promising potential to give its competitors a run for their money.
If these predictions (or close to) come true, I’ll be the first to apply for the revamped card.
For rates and fees of the Amex Platinum, click here.
Source link
Hey, I am a multifaceted professional excelling in the realms of blogging, YouTube content creation, and entrepreneurship.
With a passion for sharing knowledge and inspiring others, I established a strong presence in the digital sphere through his captivating blog articles and engaging video content.