Citi will charge $595 for a “Strata Elite” credit card.



Citigroup Inc. has launched a premium credit card that rivals what was offered jpmorgan chain &Co. and American Express Co., the latest participants in an increasingly crowded market of cards offering high-end perks.

The Strata Elite card will feature an annual party fee of $595. This is the price that the bank can unlock almost $1,500 worth of value if used for its maximum potential. It offers the largest point rewards for hotels, cars and attractions booked on Citigroup’s travel platform, as well as dining at restaurants on peak weekends.

The card also bakes with perks for customers flying together American Airlines Group Inc. will give airlines’ airport lounges four passes per year, providing the ability to transfer Citigroup to reward miles with airlines. It follows the expansion of the company’s existing card partnership in December of American airlines. I chose To make Citigroup an exclusive issuer of all credit cards.

In addition to American Express and JPMorgan, Citigroup competes with other banks trying to infiltrate premium space. Capital One Financial Corp.The customers they contest are extremely popular, willing to pay annual fees, are known for spending more and prioritizing travel and hospitality.

“It’s always been very competitive, and competition makes us all good,” said Pam Habner, the Citigroup director’s branded card and lender, in an interview.

In addition to $595, this card costs $75 per certified user per year, making it cheaper than JPMorgan’s Sapphire Reserve. Habner helped launch it when he worked there in 2016. I said last month.

read more: JP Morgan hikes sapphire reservoir fees to a $795 card overhaul

In addition to the benefits directly deployed by Citigroup, the Strata Elite card will be the first Mastercard Inc. is the recently announced World Legend Tier of Credit Cards. That means it comes with an additional advantage. World Legend Cards include access to the MasterCard Collection. This is equivalent to pre-sale tickets and streamlined airport security access.

“We designed the benefits of knowing that our customers can use,” Habner added that the card is designed to reward customers rather than handing over coupon style rewards for use in certain companies.

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