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What an exciting year 2025 promises to be for premium rewards credit cards! As an enthusiast of these products, I appreciate the competitive landscape.
To kick things off, the Chase Sapphire Reserve® (see rates and fees) has undergone a complete revamp, and Chase has also introduced its inaugural premium business card — the Chase Sapphire Reserve for Business℠ (see rates and fees). Additionally, The Platinum Card® from American Express is set for its own refresh later this year, and Bilt Rewards recently unveiled plans for a tiered selection of new cards, including a premium option.
If you’re a fan of these cards and their benefits as much as I am, you might be wondering what Citi will do next, especially with major competitors vying for a share of the lucrative premium card market.
Thanks to insights from Citi’s recent earnings call, we now have a hint of their forthcoming move.
Citi to Launch a New Premium Rewards Credit Card
According to comments made during the bank’s July 15 earnings call, Citi plans to introduce a brand-new premium credit card, the Citi Strata Elite, by September 30 of this quarter.
This new card aims to attract “affluent customers” and will join Citi’s lineup of rewards products in the upcoming months. While the exact annual fee hasn’t been disclosed, it’s reasonable to expect it to fall within the typical range of $400 to $800 for premium cards.
Though specifics on the card’s benefits are still under wraps, this isn’t Citi’s first venture into the premium rewards card arena.
Reflecting on Citi’s Premium Card History
The Citi Prestige® Card, which is no longer available to new applicants, previously earned Citi ThankYou Rewards points and was accessible until 2021 for existing cardholders.
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This card offered enticing bonus categories, such as 5 points per dollar on airfare, dining, and travel agencies, along with a fourth-night-free hotel stay perk, a $250 annual travel credit, and Priority Pass membership.
While it had its dedicated fans, particularly those who could benefit from the fourth-night-free perk, it lacked several key advantages compared to rivals like American Express, Chase, and Capital One. Notably, it didn’t provide proprietary lounge access and had more limited transfer partners within the Citi ThankYou Rewards program.
The information for the Citi Prestige and Citi Strata Elite Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
My Expectations for Citi’s New Premium Credit Card
As with any new credit card, I hope to see a generous welcome bonus. For context, Citi’s mid-tier $95-per-year Citi Strata Premier® Card (see rates and fees) currently offers 60,000 points after spending $4,000 in the first three months, so I’m expecting the new card to have a higher bonus.
Moreover, I would love to see unique bonus categories that aren’t already available on the market. The last thing we need is yet another card offering 2-3 points per dollar on dining and travel!
To balance out the annual fee, it would be beneficial to have a few high-value, easy-to-use credits that don’t require complicated tracking or effort.
It would also be great for Citi to fill in some of the gaps from its last premium rewards offering, such as providing unique lounge access or exclusive transfer partners that are difficult to find elsewhere. New or additional airport lounge access would be fantastic, especially beyond the Priority Pass benefit it previously had.
Finally, enhancing the Citi ThankYou Rewards program is crucial, particularly for those who prefer U.S.-based airline and hotel partnerships. Flying Frugal’s July 2025 valuations place Citi ThankYou Rewards at 1.85 cents per point, ranking lower than Chase Ultimate Rewards and American Express Membership Rewards.
There was a time when Citi had American Airlines as a transfer partner, and they recently reaffirmed a strong relationship during their earnings call. A Citi spokesperson also indicated in December 2024 that they would be the exclusive issuer of American cobranded cards, stating:
“The expansion of our relationship with American Airlines will positively impact our customer base as we launch new products and benefits in the future, enhancing loyalty and rewards offerings for AAdvantage® members and Citi cardholders. We will share more details soon.”
Implementing unique hotel perks or novel travel benefits that aren’t offered by other premium rewards cards would further differentiate the Citi Strata Elite in the market.
In Summary
Citi is preparing to unveil a new premium card — the Citi Strata Elite — in the coming months. While details remain scarce, the issuer’s previous premium offering gives us hope for how this card may establish its presence in the highly competitive premium card marketplace.
Stay tuned to Flying Frugal for updates as more information becomes available.
