Citibank Launches New Strata Elite Credit Card: Citibank is making a return to the premium credit card market with the launch of its new Strata Elite Credit Card. This card is specially designed for those customers who want luxury experience, easy rewards and high-end facilities while traveling. Its annual fee is $595 (around Rs 51,500), which makes it slightly cheaper than top-rivals like American Express Platinum and Chase Sapphire Reserve.
This card has many benefits that can make its annual fee seem reasonable. For example, if you book a hotel from Citi’s travel website, you get hotel credit of up to Rs 25,000. Apart from this, there is also a special credit of Rs 16,000 (about $200), which you can spend at selected places like Best Buy, Saks Fifth Avenue, Live Nation and American Airlines.
Talking about rewards, you get 12 points per Rs 100 if you book hotels, car rentals or travel attractions through the Citi Travel portal. Flight tickets booked via the portal earn 6 points and restaurant dining during designated times earn 6x points. Other expenses earn 1 to 1.5 points. All these points are part of Citi’s ThankYou rewards program and can be transferred to airline partners like American Airlines in a 1:1 ratio.
This card also offers other travel related perks like Priority Pass Select membership, which gives entry to airport lounges around the world. Along with this, four free passes to American Airlines’ Admirals Club are also available. There is no additional fee on international transactions and there is also reimbursement for features like Global Entry or TSA PreCheck from time to time.
Strata Elite is the highest-end variant of Citibank’s new three-tier card lineup. The lineup also includes a no-fee Strata card and a mid-range Strata Premier, which has an annual fee of around ₹8,000. This model is similar to the “Good, Better, Best” model of brands like American Express and Chase, where customers can choose a card based on their needs and spending habits.
However, there are some conditions to take full advantage of this card. For example, hotel or travel bookings have to be made through the Citi Travel portal. It is not necessary that you get the cheapest deal there every time. Also, with this card you do not get automatic membership status of any hotel chain, as is available in some other premium cards. The value of some rewards is limited to a limited time or category.
The world of premium cards already has big names like AmEx Platinum, Sapphire Reserve and Venture X. Each card has its own benefits and limitations. Citibank believes that Strata Elite’s simple rewards system, fewer complexities and slightly lower annual fee will appeal to customers who want to avoid complicated coupon schemes.
If you spend a lot on travel each year, know how to use points wisely and want a simple but functional card, Strata Elite could be a good choice for you. But if you want hotel status, more flexibility or extra lifestyle benefits, you might also want to take a look at cards like AmEx or Chase.