Latest news with #StrataEliteCard
29-07-2025
- Business
Citi launches Strata Elite Card to compete with AmEx and Chase
NEW YORK -- There's a new but familiar face coming to the world of high-end credit cards. Citigroup is launching the Strata Elite Card, the bank's latest attempt to grab a piece of the high-fee, high-rewards credit card market that's dominated by American Express' Platinum Card and JPMorgan Chase's Sapphire Reserve Card. The card, which is priced less than the Platinum Card and the Sapphire Reserve Card at an annual fee of $595, will offer points multiples for certain types of spending, like hotels, car rents, air travel and restaurants. Additionally, the card will offer points for everyday spending, as well as a $300 hotel credit and a $200 'splurge' credit at brands like Best Buy, Live Nation and others. Citi has had other forays into the high-end credit card market. The company launched Citi Prestige in 2013 as a direct competitor to the American Express Platinum Card, and the card won high praise from travel fanatics when it debuted for its hefty rewards program and perks. But Prestige lost its prestige when Chase launched the Sapphire Reserve Card, a credit card that was an instant hit when it was released in 2016, and when AmEx overhauled the Platinum Card to be more competitive. Citi stopped allowing new applications for Prestige in 2021, but the card's benefits still exist for customers carrying the card. Strata Elite is facing a highly competitive marketplace. Along with the Platinum Card and Sapphire Reserve, there are other rewards-heavy cards like Capital One's Venture X Card and a coming high rewards card from credit card upstart Bilt early next year. Chase raised the annual fee on Sapphire Reserve to $795 as part of a product refresh in June, and American Express has indicated it will be revising the Platinum Card's rewards and perks later this year. A customer who ends up carrying two of these high-fee cards can quickly spend more than $1,000 on annual fees. So far, credit card companies have been able to justify these fees by attaching lucrative perks to the cards, like travel or other spending credits, and generous rewards programs, effectively marketing them as a high-end subscription plan. But it's not clear how willing customers are to carry several of these cards each year. This is the third in the Citi Strata card family, following a similar formula to other banks where there's a 'good, better, best' choice for customers. The other cards are the Citi Strata Card and Strata Premier. The biggest earning potential on Citi's new card is by booking travel through Citi's new travel portal, which gives 12 times points on Citi's 'Thank You' rewards program. Credit card companies are trying to push customers onto their own travel portals, where banks can contract directly with airlines and hotels and make sure customers use their branded credit cards when traveling. American Express, Chase and Capital One have all built out their travel services in recent years and are increasingly offering customers better rewards and redemptions for using their services instead of booking through a place like Expedia.
Mint
27-07-2025
- Business
- Mint
Citi launches Strata Elite Card to rival Amex and Chase: From benefits, costs and perks — Here's all you need to know
Citigroup has become a latest entrant to join the competitive luxury credit card market with its new Strata Elite Card. This latest offering is the bank's attempt to grab a piece of the high-fee, high-rewards credit card market that is currently dominated by American Express' Platinum Card and JPMorgan Chase's Sapphire Reserve Card. The Strata elite card is priced at an annual fee of $595, which is less than the Platinum Card and the Sapphire Reserve Card. The cost can also unlock almost $1,500 in value if used to its maximum potential. The new launch also aims to be a strong contender by offering: Points rewards: The card provides points for everyday spending, however a customer can earn largest points for certain types of spending, like hotels, car rents, air travel as well as restaurant dining at peak weekend times. Rewards for each dollar spent on different bookings. Generous credits: The card provides a $300 hotel credit and a $200 'splurge' credit usable at brands like Best Buy, Live Nation and others. Travel rewards: The most significant earning potential comes from booking travel through Citi's new travel portal, which gives 12 times points on Citi's 'Thank You' rewards programme. The perks also include four passes per year to airport lounges for customers who fly with American Airlines. This is not Citi's first foray into the high-end credit card market. In 2013, the company launched the Citi Prestige card which won high praise from travel fanatics when it debuted for its hefty rewards program and perks. However, its prestige was short-lived. The release of Chase's instant hit Sapphire Reserve Card in 2016 and subsequent overhauls to the Amex Platinum Card led to the Prestige Card losing its competitive edge. Citi stopped allowing new applications for Prestige in 2021, but the card's benefits still exist for customers carrying the card. The Strata Elite card is entering a highly competitive marketplace. Other than the Platinum Card and Sapphire Reserve, there are other rewards-heavy cards like Capital One's Venture X Card and an upcoming high-rewards card from Bilt early next year. Chase recently raised the annual fee on Sapphire Reserve to $795 in June, and American Express has signaled upcoming revisions to the Platinum Card's rewards and perks later this year. A customer who ends up carrying two of these high-fee cards can quickly spend more than $1,000 on annual fees. So far, credit card companies have been able to justify these fees by giving lucrative perks, like travel or other spending credits, and generous rewards programs, effectively marketing them as a high-end subscription plan.
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Business Standard
27-07-2025
- Business
- Business Standard
Citi launches Strata Elite Card to compete with AmEx, JPMorgan Chase
There's a new but familiar face coming to the world of high-end credit cards. Citigroup is launching the Strata Elite Card, the bank's latest attempt to grab a piece of the high-fee, high-rewards credit card market that's dominated by American Express' Platinum Card and JPMorgan Chase's Sapphire Reserve Card. The card, which is priced less than the Platinum Card and the Sapphire Reserve Card at an annual fee of USD 595, will offer points multiples for certain types of spending, like hotels, car rents, air travel and restaurants. Additionally, the card will offer points for everyday spending, as well as a USD 300 hotel credit and a USD 200 splurge credit at brands like Best Buy, Live Nation and others. Citi has had other forays into the high-end credit card market. The company launched Citi Prestige in 2013 as a direct competitor to the American Express Platinum Card, and the card won high praise from travel fanatics when it debuted for its hefty rewards program and perks. But Prestige lost its prestige when Chase launched the Sapphire Reserve Card, a credit card that was an instant hit when it was released in 2016, and when AmEx overhauled the Platinum Card to be more competitive. Citi stopped allowing new applications for Prestige in 2021, but the card's benefits still exist for customers carrying the card. Strata Elite is facing a highly competitive marketplace. Along with the Platinum Card and Sapphire Reserve, there are other rewards-heavy cards like Capital One's Venture X Card and a coming high rewards card from credit card upstart Bilt early next year. Chase raised the annual fee on Sapphire Reserve to USD 795 as part of a product refresh in June, and American Express has indicated it will be revising the Platinum Card's rewards and perks later this year. A customer who ends up carrying two of these high-fee cards can quickly spend more than USD 1,000 on annual fees. So far, credit card companies have been able to justify these fees by attaching lucrative perks to the cards, like travel or other spending credits, and generous rewards programs, effectively marketing them as a high-end subscription plan. But it's not clear how willing customers are to carry several of these cards each year. This is the third in the Citi Strata card family, following a similar formula to other banks where there's a good, better, best choice for customers. The other cards are the Citi Strata Card and Strata Premier. The biggest earning potential on Citi's new card is by booking travel through Citi's new travel portal, which gives 12 times points on Citi's Thank You rewards programme. Credit card companies are trying to push customers onto their own travel portals, where banks can contract directly with airlines and hotels and make sure customers use their branded credit cards when travelling. American Express, Chase and Capital One have all built out their travel services in recent years and are increasingly offering customers better rewards and redemptions for using their services instead of booking through a place like Expedia.
Time of India
27-07-2025
- Business
- Time of India
Credit cards race: Citi launches Strata Elite to rival AmEx Platinum, Chase Sapphire Reserve with $595 fee and travel perks
Citigroup has entered the competitive luxury credit card market with the launch of its new Strata Elite Card, aiming to lure premium customers away from rivals like American Express' Platinum Card and JPMorgan Chase's Sapphire Reserve. The Strata Elite, launched at an annual fee of $595, undercuts the Platinum and Sapphire Reserve cards, which charge $695 and $795 respectively. It offers high rewards on travel-related spending—multiples on air travel, car rentals, hotels, and dining—as well as everyday purchases. Customers will also receive a $300 hotel credit and a $200 'splurge' credit for select brands like Best Buy and Live Nation, AP reported. This card becomes the highest tier in Citi's new three-part Strata lineup, which includes the base Strata Card and mid-range Strata Premier. The launch marks Citi's return to the ultra-premium card segment after its Citi Prestige card was pulled from the market in 2021, following stiff competition from AmEx and Chase. While Citi Prestige was once a favourite among travel rewards enthusiasts, it lost ground after Chase's Sapphire Reserve debuted in 2016, followed by enhancements to AmEx Platinum. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Citi stopped accepting new applications for Prestige in 2021, though benefits remain for existing cardholders. The Strata Elite now enters a crowded field that includes Capital One's Venture X and an upcoming high-end card from startup Bilt. As competition heats up, players are expanding rewards and travel credits, hoping to justify steep annual fees that can exceed $1,000 for users carrying multiple cards. Citi is also bolstering its travel infrastructure. Customers booking through Citi's in-house travel portal will earn 12X points under the 'Thank You' rewards programme—an aggressive move aligned with strategies by AmEx, Chase, and Capital One, who are also directing users to their proprietary booking platforms rather than third-party sites like Expedia. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
27-07-2025
- Business
- News18
Citi launches Strata Elite Card to compete with AmEx, Chase
Agency: New York, Jul 27 (AP) There's a new but familiar face coming to the world of high-end credit cards. Citigroup is launching the Strata Elite Card, the bank's latest attempt to grab a piece of the high-fee, high-rewards credit card market that's dominated by American Express' Platinum Card and JPMorgan Chase's Sapphire Reserve Card. The card, which is priced less than the Platinum Card and the Sapphire Reserve Card at an annual fee of USD 595, will offer points multiples for certain types of spending, like hotels, car rents, air travel and restaurants. Additionally, the card will offer points for everyday spending, as well as a USD 300 hotel credit and a USD 200 'splurge" credit at brands like Best Buy, Live Nation and others. Citi has had other forays into the high-end credit card market. The company launched Citi Prestige in 2013 as a direct competitor to the American Express Platinum Card, and the card won high praise from travel fanatics when it debuted for its hefty rewards program and perks. But Prestige lost its prestige when Chase launched the Sapphire Reserve Card, a credit card that was an instant hit when it was released in 2016, and when AmEx overhauled the Platinum Card to be more competitive. Citi stopped allowing new applications for Prestige in 2021, but the card's benefits still exist for customers carrying the card. Strata Elite is facing a highly competitive marketplace. Along with the Platinum Card and Sapphire Reserve, there are other rewards-heavy cards like Capital One's Venture X Card and a coming high rewards card from credit card upstart Bilt early next year. Chase raised the annual fee on Sapphire Reserve to USD 795 as part of a product refresh in June, and American Express has indicated it will be revising the Platinum Card's rewards and perks later this year. A customer who ends up carrying two of these high-fee cards can quickly spend more than USD 1,000 on annual fees. So far, credit card companies have been able to justify these fees by attaching lucrative perks to the cards, like travel or other spending credits, and generous rewards programs, effectively marketing them as a high-end subscription plan. But it's not clear how willing customers are to carry several of these cards each year. This is the third in the Citi Strata card family, following a similar formula to other banks where there's a 'good, better, best" choice for customers. The other cards are the Citi Strata Card and Strata Premier. The biggest earning potential on Citi's new card is by booking travel through Citi's new travel portal, which gives 12 times points on Citi's 'Thank You" rewards programme. Credit card companies are trying to push customers onto their own travel portals, where banks can contract directly with airlines and hotels and make sure customers use their branded credit cards when travelling. American Express, Chase and Capital One have all built out their travel services in recent years and are increasingly offering customers better rewards and redemptions for using their services instead of booking through a place like Expedia. (AP) GRS GRS view comments First Published: July 27, 2025, 19:00 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
