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CNBC
06-08-2025
- Business
- CNBC
Citi Strata Elite Card review: A new premium travel card with an American Airlines partnership
The Citi Strata Elite℠ Card is the bank's newest addition to its Strata line of cards and its first premium card since the Citi Prestige® Card, which is no longer available to new applicants. The card comes with nearly $1,500 in value each year through perks like the $200 annual Splurge credit and a complimentary Priority Pass Select membership. Citi is also furthering its partnership with American Airlines and offering some AA-specific perks that frequent flyers will appreciate. CNBC Select dives into Citi's newest premium option to see how it stacks up against a very competitive travel credit card landscape. On Citi's site On Citi's site With the Citi Strata Elite℠ Card you can earn 80,000 bonus Points after spending $4,000 in the first 3 months of account opening. Good to Excellent670–850 21.24% - 29.24% variable $595 Earn 80,000 bonus Points See rates and fees. Terms apply. The Citi Strata Elite℠ Card aims to brings premium restaurant rewards and travel benefits to users, including an annual hotel benefit of $ transfer fee applies with this offer 5% of each balance transfer; $5 minimum. If you're approved for the Citi Strata Elite Card, for a limited time, you can earn 80,000 bonus points after spending $4,000 in the first three months of account opening. With these points generally valued at around 1.75 cents per point by the industry, this welcome bonus is worth about $1,400, which is a great return. This bonus is earned in the form of Citi ThankYou® Points, which can be redeemed in a number of ways, from simple statement credits, to paying with points or transferring them to one of Citi's travel partners. The Citi Strata Elite comes with several perks, with the bulk of its value in travel and lifestyle categories. While you do have to book via Citi Travel, the $300 hotel credit isn't tied to any specific brand, meaning you'll have more options. The $200 splurge credit is another welcome addition that gives you more control over how you earn rewards, letting you choose and switch between several brands, ranging from tickets to technology. One credit that isn't as common is the one for Blacklane, a global chauffeur service. While it might serve as a nice luxury option for special occasions, odds are that you'll have an easier time with a taxi or public transportation. In addition to straightforward statement credits, the Strata Elite also offers some extra benefits: If Citi happens to be a company you bank with, it's possible that you could be eligible for additional savings through an offer just for Citi customers: The Citi Strata Elite has a high earnings rate when you book via the Citi Travel portal, and it offers elevated earnings rates during certain eligible times: What jumps out first is the very high 12X on hotels and more, but it is tied to the issuer's travel portal, a common theme with premium travel cards. It's also the first time we've seen a card that has a timed window to earn elevated rewards. It earns a higher rate at restaurants on Friday and Saturday nights, which could make your weekend date nights a little more affordable. When redeeming the Citi ThankYou Points earned by your Strata Elite, you have several options to choose from, like: While options like cash back and gift cards are usually the simplest, they often don't provide you with the best value; the highest value usually comes from taking advantage of the transfer partners offered through Citi: The Citi Strata Elite was built to compete with some of the most popular travel credit cards, and its $595 annual fee represents that. The card has no foreign transaction fees and a late or returned payment fee of $41. The card's variable purchase APR ranges from 21.24% to 29.24%, depending on creditworthiness. On the American Express site On the American Express site The Amex Platinum Card provides access to Amex Centurion Lounges, Delta Sky Clubs® , Lufthansa Lounges, Escape Lounges and more. (Enrollment required) Good to Excellent670–850 See Pay Over Time APR $695 You may be eligible for as high as 175,000 Membership Rewards® Points See rates and fees, terms apply. Read our Amex Platinum Card review. The Platinum Card® from American Express is a premium card loaded with annual statement credits, entertainment benefits, extensive airport lounge access, elite status perks and more. (Enrollment required for select benefits mentioned)N/A None The Platinum Card® from American Express offers more value in the form of statement credits, making it a good option for those seeking direct value from the card. Amex's Platinum also comes with hotel status upgrades and permanent access to Amex's Global Lounge Collection, including its Centurion Lounges. While enrollment is not necessary for Centurion Lounge access, some other lounge programs within the American Express Global Lounge Collection, such as Priority Pass, do require enrollment. The Strata Elite offers a high rewards rate on restaurants and a flexible $200 Splurge credit. The ability to earn up to 12X on hotels and 6X on air travel booked through Citi Travel can help you rack up ThankYou Points very quickly and help finance even more getaways. On Chase's site On Chase's site Get more than $2,700 in annual value with Sapphire Reserve. Excellent740–850 20.24% - 28.74% variable $795 Earn 100,000 bonus points + $500 Chase TravelSM promo credit See rates and fees. Terms apply. Member FDIC. Read our Chase Sapphire Reserve® review. The Chase Sapphire Reserve® is a standout premium credit card with plenty of luxury perks and statement credits to justify its annual $5 or 5% of the amount of each balance transfer, whichever is greater The Chase Sapphire Reserve® (see rates and fees) provides over $2,700 in annual value, which is enough to cover its high $795 annual fee. The card offers a large number of statement credits, with Apple TV+ credits and a $300 annual dining credit. The card also comes with premium travel benefits, such as access to Chase Sapphire Lounges by The Club and a statement credit for Global Entry, TSA Precheck or Nexus every four years. The card's annual fee is quite steep, and if you're looking for points that transfer to American Airlines, Chase Ultimate Rewards® points don't offer that option. The Citi Strata Elite is a great fit for those who don't mind booking primarily through travel portals, and for American Airlines customers eager to have a card that earns rewards that can be transferred to the AAdvantage program. The card comes with up to $300 in annual hotel benefits and a flexible $200 Splurge credit, both fairly easy credits to redeem. If you're invested in the Citi ThankYou Points system or looking for a card that earns rewards compatible with American Airlines, this card is the next perfect addition to your wallet. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Yahoo
29-07-2025
- Business
- Yahoo
Citi's new Strata Elite credit card has a $595 annual fee. Here's how its perks stack up against the competition.
As the premium credit-card market swells with the introduction of Citi's Strata Elite card, experts say rising annual fees and an overload of unused statement credits are leading to growing premium-cardholder fatigue. But while paying more than $500 for a credit card might seem excessive to many people, the fees on the most popular premium cards haven't risen enough to deter consumers seeking exclusive travel benefits from applying. 'Vegas is not fun anymore': $9 cups of coffee and pricier rooms are steering travelers away from the vacation mecca We're in our 70s with a $260K mortgage at 3% interest and $1.6 million in savings. Should we pay off our house in full? Citi's C Strata Elite boasts a flurry of travel and lifestyle rewards worth nearly $1,500 and gives cardholders the option to transfer points to American Airlines' AAL AAdvantage Bonus Miles, according to the company. It also comes with a $595 annual fee — putting it up there with the American Express AXP Platinum and Chase JPM Sapphire Reserve cards, which have $695 and $795 fees, respectively. Despite the high barrier to entry, demand for premium credit cards persists. 'If this trend was really having an impact on issuers' bottom lines, we likely would've seen a pullback. Instead, we've seen these cards go from $450, to $550, to $695 and now $795 with the Sapphire Reserve,' said Nick Ewen, senior editorial director at the Points Guy, a travel website. 'To me, this demonstrates that the cardholders complaining are either doing so and then keeping the card anyway, or are being replaced by new cardholders who are excited about the benefits.' The Strata Elite card offers 12 points per every dollar spent on hotels, car rentals and attractions booked through the Citi Travel platform, as well as six times the points on airfare booked through Citi Travel and restaurant purchases during select days and times. The card also offers statement credits worth several hundred dollars each calendar year for a hotel stay of two nights or more booked through Citi Travel, a chauffeur service and purchases made at up to two brands from a list that includes Live Nation LYV, Best Buy BBY and American Airlines. A statement credit is money added to your account balance for making specific purchases. When they're offered in small monthly increments, a card can earn the derisive nickname of 'coupon book.' Citi seems aware that consumers have grown weary of the laundry list of statement credits that come with rewards cards. Pam Habner, Citi's head of U.S. branded cards and lending, said the company was intentional with the perks they included in the Strata Elite card, choosing 'benefits that we know our customers will want to use — because we asked them what they value.' 'You shouldn't need a math degree and a spreadsheet to track your credit-card benefits,' Habner said in a news release. ThankYou Points — Citi's name for its loyalty points — earned on the Strata Elite, Strata Premier and Prestige cards can now be transferred to the American Airlines AAdvantage program at a 1-to-1 transfer ratio, meaning 1,000 ThankYou Points equals 1,000 AAdvantage Bonus Miles. See more: I asked AI, Google Flights and a travel agent to find me the cheapest flight. Here's who won. A 1-to-1 transfer ratio is something Points Guy credit-card writer Danyal Ahmed said he hoped to see in the new Strata Elite card. 'Any ability to transfer to the program with a better rate than Marriott Bonvoy would be beneficial to cardholders,' he wrote in a January article. The Marriott MAR Bonvoy transfer rate to AAdvantage is 3 to 1. The Strata Elite card also covers the $120 application fee for Global Entry or TSA PreCheck. The release of the Strata Elite is Citi's big comeback to the premium credit-card market. The company once offered the Citi Prestige as a premium product, but the card ultimately closed to new applicants a few years ago. 'Both Amex and Chase were able to adjust their card benefits to survive COVID-19 while Citi began to scale back, removing travel protections, capping benefits and finally closing the Prestige card for new applications in 2021,' Bankrate credit-cards expert Ana Staples said. See more: You'll have to charge over $75,000 a year on the new Chase Sapphire Reserve card to get the most out of it American Express and Chase remain leaders in the market, and their high annual fees reflect that. The Sapphire Reserve card's price tag rose to nearly $800 last month, and there's a possibility that Amex Platinum could start carrying a $1,000 fee later this year. The Platinum card currently has a $695 annual fee. 'We're going to take these Cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers,' Howard Grosfield, group president of U.S. consumer services at American Express, said in June when the upcoming refresh to the card was announced. American Express declined to provide additional comment for this story. Past refreshes of the Platinum card seem to have paid off for Amex. Since the last one in 2021, the cardholder base has 'pretty much doubled,' Chairman and CEO Steve Squeri told analysts in the company's second quarter earnings call earlier this month. Plus, of all new accounts acquired globally in the second quarter, 71% came from fee-paying products, with the Amex Platinum and Gold cards being the largest portfolios in that category. Chase Sapphire general manager Sam Palmer said the Sapphire Reserve provides a 'unique blend of premium dining and travel rewards, [and] carefully selected lifestyle credits from our partners.' 'After nearly a decade of listening to our cardmembers, we've designed the most rewarding card out there,' Palmer said in a statement provided to MarketWatch. The Strata Elite's $595 annual fee (plus $75 for each authorized user) places Citi in between the more expensive options and Capital One's COF Venture X card, which costs users $395 annually. Capital One did not respond to a request for comment from MarketWatch. So which card offers the best deal? It depends, experts say, especially when you're comparing statement credits. Ewen recommends going through each of the cards' offerings and looking for subscriptions or perks you're already paying for without the card, rather than ones you don't have yet. For example, the Sapphire Reserve card covers Apple AAPL Music, so if you already pay to listen to music on the platform, that can offset the annual fee. If you enjoy watching shows on Hulu or Disney+ DIS or fly often on Delta Air Lines DAL, Amex's monthly digital-entertainment credit might intrigue you. If you fly American a lot, you might consider the new Strata Elite card to be a good deal. Beyond points transfers, it also offers four passes each year to Admirals Club airport lounges. These lounges have become an important perk for cardholders in recent years. They've gotten so popular that some cardholders even have to wait to get into them. See more: Why American Express and American Airlines shrunk the airport lounge Chase, Amex and Capital One each have branded lounges in airports across the globe, while Citi does not. Instead, the Strata Elite offers the four passes to the Admirals Club plus a free membership to Priority Pass Select — a nearly $500 value that allows access to lounges in 95% of the world's busiest airports. One perk that makes the Chase Sapphire Reserve stand out is its $300 flexible travel credit. It's an automatic rebate for any travel purchase, not just those made through the Chase Travel portal. 'Any travel purchase with any travel provider is eligible, and the credits generally post within a day,' Ewen said. See more: Premium travel perks like VIP lounges and rewards points offer less than they used to — but these upgrades are still worth it Despite myriad credits, points transfers and lounges that offset the annual fee, for many consumers, the hundreds of dollars a year required are just too much to cough up. But 'perhaps that's the point now,' Staples noted. 'As these cards change and increase annual fees, they aren't for the average consumer who wants to get access to luxury travel experiences on a budget anymore,' she said. 'They're for people who don't find paying a few hundred dollars in a single charge to be any real financial pain. These cardholders want luxury, and they can afford it.' 'His income is limited': Should I pay $800 a month towards my husband's $67,000 student debt? Coinbase investors should cash in. The stock has rallied too much ahead of earnings, analyst says. Sign in to access your portfolio
Yahoo
27-07-2025
- Business
- Yahoo
Citi launches Strata Elite premium travel credit card. Should you add it to your wallet?
Citi is launching a new premium rewards credit card: the Citi Strata Elite℠ Card. With a $595 annual fee, this card joins other luxury credit cards in catering to jetsetters looking to maximize travel savings and perks. But a unique bonus rewards structure and specific benefits for American Airlines — including the ability to transfer Citi ThankYou points to AAdvantage miles — helps the Citi Strata Elite Card stand out for some frequent flyers. Citi Strata Elite Card details The Citi Strata Elite has a $595 annual fee, which is steep for any cardholder. However, it is in line with other premium travel cards on the market today. It's also a step up from the issuer's former top-tier travel card, the $495 Citi Prestige Card. That card hasn't accepted new applications since 2021, but if you've been a longtime Citi cardholder, you may want to compare it to Citi's new premium option. Here are the details: Welcome bonus You can get a lot of value as a new cardholder with the Citi Strata Elite's welcome offer. But how much you earn depends on how you apply. When you apply online and get approved, you can earn 80,000 bonus ThankYou points after spending $4,000 within the first three months of account opening. If you decide to go in-branch to a Citi location and get approved, you can earn an even higher 100,000 bonus points after spending the same $4,000 within the first three 12x points on hotels, car rentals, and attractions booked on 6x points on air travel booked on 6x points at restaurants every Friday and Saturday night 3x points at restaurants any other time 1.5x points on all other purchases These rewards categories can help you rack up Citi ThankYou points toward future travel, but there are some restrictions. First, you'll only earn bonus points on travel booked through the Citi Travel portal — up to 12x points (or 6x for flights) is a solid multiplier, but if you prefer to book directly or through another third-party service, you'll only get the minimum 1.5x on your travel spending. Dining at restaurants is another common category you'll find among travel rewards cards, but the Strata Elite works a little differently. You'll get a standard 3x at restaurants, which increases to 6x every weekend between 6 p.m. and 6 a.m. ET on both Friday and Saturday. If you eat out a lot on the weekends, this can be a great boost, but all other daytime and weeknight meals will only earn the regular 3x A common way to make up for a card's steep annual fee cost is through annual benefits, and the Citi Strata Elite is no exception. Here are a few benefits to expect with this card: Up to $300 annual hotel credit for stays of two nights or more booked through Citi Travel each calendar year Up to $200 annual Splurge Credit, which applies to purchases at your choice of up to two eligible brands each calendar year: American Airlines, Live Nation, Best Buy, 1stDibs, and Future Personal Training Up to $200 annual Blacklane credit for global chauffeur service (up to $100 from January through June and another $100 from July through December) Up to $120 credit for TSA PreCheck or Global Entry fee every four years Four American Airlines Admirals Club passes each calendar year Transfer Citi ThankYou points to American Airlines AAdvantage miles Complimentary Priority Pass Select airport lounge membership No foreign transaction fees These benefits may be especially lucrative for frequent American Airlines flyers. You'll get four passes per year to American Airlines Admirals Club lounges. American Airlines sells one-day passes to its lounges for $79, so if you fly the airline enough to use all four passes, that's already worth $316 each year. And with the ability to transfer the points you earn to American Airlines miles, you'll have extra flexibility when you're ready to book award flights. Annual credit card perks like this can add up to major savings each year, but only if you actually use them. It always pays to compare your spending and travel preferences to any card's benefits to make sure you can keep maximizing your value you get a Citi Strata Elite Card? If you're already a Citi cardholder, you may benefit from using this card in combination with other Citi points-earning cards. For example, you can use the Strata Elite to maximize travel spending through Citi Travel and at restaurants (especially on weekends) while using the Citi Strata Premier℠ Card to earn 3x points on everyday purchases at supermarkets and gas stations. Then, combine the points from both cards when you want to book a trip. In addition to redeeming ThankYou points for travel through the issuer, Citi has a number of airline and hotel partners you can transfer your points to, including Air France KLM Flying Blue, JetBlue TrueBlue, Avianca LifeMiles, Choice Privileges, Wyndham Rewards, and more. While the American Airlines AAdvantage program wasn't previously a Citi transfer partner, you can now transfer your Citi Strata Elite points to the airline. If you're a regular American Airlines flyer or already have elite status within the program, this can be a great way to make the most of your ThankYou points. However, there are some potential drawbacks to keep in mind. Like we mentioned above, you're limited to booking travel through Citi Travel if you want to earn the highest rewards rate offered. Other travel credit cards often have more flexibility to earn points and miles with other booking options. The value you'll gain from the card's benefits will also depend a lot on your spending. If you often fly with American Airlines, you can nearly recoup the annual fee cost just from the Admirals Club lounge passes and choosing American Airlines for your annual Splurge Credit. But other credits may be more difficult to maximize if the eligible brands aren't already in your regular budget, for example, or you already get airport lounge access with another premium cards to consider Today's credit card market has multiple great options for maximizing rewards on travel while getting great benefits. If you travel often and don't mind paying a steep annual fee for perks like lounge access, travel credits, status perks, and more, make sure to consider these cards as well: Why we like it: After its recent overhaul, the Chase Sapphire Reserve now carries the highest annual fee among the cards on this list. It also has one of the most flexible annual travel credits available today, offering up to $300 in statement credits for any travel purchases charged to your card. Like the Citi Strata Elite, this card also has airport lounge access perks, a fee credit for TSA PreCheck or Global Entry, hotel credits, and more. While its highest 8x rewards category also requires booking travel through the issuer's Chase Travel portal, you can still earn 4x points with the Chase Sapphire Reserve when you book directly with hotels and we like it: The Platinum Card is also expected to undergo a refresh later this year, but current cardholders can get plenty of benefits while traveling for a $695 annual fee (see rates & fees). These include airport lounge access, up to $200 in airline fee credits for incidental charges with your choice airline, up to $200 in statement credits for select prepaid hotel bookings through Amex Travel, Marriott Bonvoy Gold Elite status and Hilton Honors Gold status, and many more. Like the Citi Strata Elite, you'll get the best Amex Platinum rewards when you book through the issuer — 5x points on flights and prepaid hotels booked through Amex Travel. But you can earn the same rate on flights booked directly with airlines, too (up to $500,000 spent on combined flight purchases each year).Why we like it: Among premium travel card options, the Capital One Venture X has the lowest annual fee — but that doesn't mean it's lacking in value. You can earn boosted rewards for booking travel through Capital One Travel on top of a flat 2x miles on every purchase. As for benefits, there's a $300 annual travel credit you can also use on Capital One Travel purchases, plus airport lounge access, a 10,000-mile bonus every year starting on your first anniversary, and article was edited by Alicia Hahn. Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
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Travel + Leisure
27-07-2025
- Business
- Travel + Leisure
Citi Just Released a New Premium Travel Credit Card With Competitive Perks—but Is It Worth the Annual Fee?
Citi has been hard at work revamping its credit card portfolio—and today, the bank has officially reentered the premium credit card space with the Citi Strata Elite Card, which promises high-end travel benefits in exchange for a $595 annual fee. This launch comes just four years after Citi discontinued its former premium credit card, the Citi Prestige Card, which was once a leader in the space. The new card includes unique benefits not found in other offerings from the brand, like travel-friendly statement credits, a Priority Pass Select airport lounge membership, and unique (but slightly confusing) bonus earning categories. Further, Citi and American Airlines partnered together again—like they did with the Citi Prestige Card—to offer new benefits to cardholders. Statement credits are becoming the norm among premium travel credit cards, with The Platinum Card from American Express and the Chase Sapphire Reserve both offering travel and lifestyle credits to cardmembers to help offset the annual fee. The Citi Strata Elite is no different, and includes the following statement credits: Up to $300 Annual Hotel Benefit : This can be used on stays of two nights or longer at any hotel of your choosing when booked through Citi Travel. This can be used on stays of two nights or longer at any hotel of your choosing when booked through Citi Travel. Up to $200 Annual Splurge Credit : This credit can be used for purchases at up to two merchants, including 1stDibs, American Airlines, Best Buy, Future Personal Training, and Live Nation. This credit can be used for purchases at up to two merchants, including 1stDibs, American Airlines, Best Buy, Future Personal Training, and Live Nation. Up to $200 Annual Blacklane Credit : Cardholders receive $100 in credit January through June, and $100 July through December toward rides with Blacklane, a global chauffeur service. Cardholders receive $100 in credit January through June, and $100 July through December toward rides with Blacklane, a global chauffeur service. Up to $120 Global Entry or TSA PreCheck Application Fee Credit: This credit is awarded every four years and is applied toward application and renewal fees. Another standout feature of the Citi Strata Elite card is its points earning structure, which strays from that of competitors in the market. It follows this structure: 12x points on car rentals, hotels, and other attractions booked through Citi Travel 6x points on air travel booked through Citi Travel 6x points at restaurants—including delivery—every Friday and Saturday from 6 p.m. to 6 a.m. ET and 3x points when purchased at any other time 1.5x points on other purchases This is relatively straightforward: You'll earn bonus points on travel booked through Citi Travel, 3 points per dollar on dining, and 1.5 points per dollar elsewhere. Plus, you can earn an industry-leading 6 points per dollar when you dine between 6 p.m. and 6 a.m. ET on Friday and Saturday. Oddly, this perk doesn't change based on your time zone, so those on Pacific time would start the bonus earning clock at 3 p.m. on Friday and Saturday. There are some interesting travel-specific benefits included with the card, too. Members will get a Priority Pass Select membership with their card, which provides access to thousands of airport lounges worldwide. In partnership with American Airlines, cardholders receive four American Airlines Admirals Club passes per year that can be used at over 50 American-branded lounges worldwide. Speaking of American Airlines, Citi Strata Elite cardmembers can also transfer their Citi ThankYou points to American Airlines AAdvantage. This is a big benefit for points and miles enthusiasts, as AAdvantage offers some of the best redemption rates on international award flights. No other transferable points programs offer transfers to AAdvantage. Cardholders will also benefit from stripped foreign transaction fees, and access to The Reserve and Citi Entertainment. The former is a preferred hotel booking platform that includes benefits like room upgrades and dining credits. Meanwhile, the latter gives Citi cardholders access to event ticket presales to things like exclusive concerts or sporting events. Finally, those with a Citigold banking relationship—the wealth management service offered by Citibank—can save on the card's annual fee. Citigold Private Clients receive the standard $595 statement credit the first year they open the card, but then that number drops to $145 per year going forward. Meanwhile, those at the standard Citigold relationship tier get $145 per year in statement credits. This effectively brings the annual fee to $145. Citi's take on the premium travel credit card differs from the likes of Chase and American Express. The card has a lower annual fee than the Chase Sapphire Reserve and Amex Platinum cards, but also offers less lounge access and statement credits. At the same time, the Citi Strata Elite offers higher earning rates on everyday purchases, which may be helpful for frequent shoppers. If you're a semi-frequent traveler and want to earn bonus points on your everyday spending, the Citi Strata Elite can be a good option. However, those looking for more extensive airport lounge access and travel benefits may be better served by the competition.
