What I’m looking forward to seeing in Citi’s upcoming premium credit card
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® (see rates and fees), 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 (see rates and fees)"
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) 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).
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 have a partnership on the Sapphire Reserve, which recently lost Lyft Pink All Access membership.
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 $895 annual fee (see rates and fees), while the Chase Sapphire Reserve has a $795 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 well below both the Sapphire Reserve and Amex Platinum annual fees.
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. The Amex Platinum earns 5 points per dollar on airfare booked directly through the airline or through American Express Travel® on the first $500,000 spent each calendar year (then 1 point per dollar). 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 4 points per dollar spent on airfare and hotels booked directly (after the $300 annual travel credit is used each year) and 3 points per dollar spent on 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.
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| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.