Citi is launching an all-new premium rewards card....

Citi is a TPG promoting associate.

What a 12 months 2025 is shaping as much as be for premium rewards bank cards. And as a fan of those merchandise, I really like the competitors.

First, the Chase Sapphire Reserve® (see rates and fees) underwent a top-to-bottom transformation, and Chase additionally launched its first-ever premium business card — the Chase Sapphire Reserve for Business℠ (see rates and fees). We additionally know that The Platinum Card® from American Express is on the verge of undergoing its own refresh later this 12 months, and that Bilt Rewards simply introduced it will likely be providing a three-tiered assortment of recent playing cards — including a premium card.

If you’re preserving depend, and you like these playing cards and their perks as a lot as I do, you may begin to surprise what Citi might need up its sleeve as the opposite main gamers actively compete for pockets house within the profitable premium card market.

Because of Citi’s current earnings name, we now have at the least one clue as to its subsequent transfer.

In some unspecified time in the future this quarter (so by Sept. 30), Citi will launch a brand new premium bank card, the Citi Strata Elite, based on remarks made on the financial institution’s July 15 earnings name.

The brand new Citi Strata Elite card is alleged to be becoming a member of Citi’s group of rewards merchandise in some unspecified time in the future within the coming months to be able to attraction to “prosperous clients.” So whereas Citi has not shared the precise annual payment that can include this card, it feels secure to imagine it’s prone to be within the vary of the annual charges of different premium playing cards, that are largely now within the roughly $400-$800 vary.

And whereas particulars concerning the card’s advantages weren’t launched, we do know that this isn’t Citi’s first foray into the world of premium rewards bank cards.

The Citi Prestige® Card, which is now not out there to new candidates, is a premium card that earns Citi ThankYou Rewards factors. It was out there via 2021 — although present cardholders have been in a position to hold it of their wallets.

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It has some rewarding bonus classes — resembling 5 factors per greenback spent on airfare, eating places and journey businesses — gives a cool fourth-hotel-night-free perk, a $250 annual journey credit score and Precedence Cross membership.

Whereas the cardboard definitely had its followers, particularly those that may maximize that fourth-hotel-night-free perk, it was lacking a number of key perks in comparison with different main gamers within the premium card house, resembling American Categorical, Chase and Capital One. Particularly, it did not provide any proprietary lounge entry and was extra restricted in its distinctive switch companions inside the Citi ThankYou Rewards lineup.

The data for the Citi Status and Citi Strata Elite Card have been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.

Naturally, as with every new bank card, I am hoping for an enormous welcome bonus. For reference, the financial institution’s mid-tier $95-per-year Citi Strata Premier® Card (see rates and fees) is presently providing 60,000 factors with $4,000 in spending within the first three months, so I hope the bonus for this all-new card will are available in greater than that.

However past that, I would love some uniquely rewarding bonus classes that are not already supplied on the lengthy record of different rewards playing cards. For instance, the very last thing I want is one other card providing 2 or 3 bonus factors per greenback spent on eating and journey.

To assist offset the annual payment, I would prefer to see a restricted variety of high-value however easy-to-use credit that do not require plenty of thought and energy (as in, not an advanced “coupon ebook” strategy).

And whereas it may be a tall order, I would actually love Citi to now handle a few of the gaps that it had final time it had a proprietary premium rewards card.

Particularly, it could be nice to see the cardboard provide some kind of distinctive lounge entry and/or switch companions which are laborious or unimaginable to copy elsewhere. Entry to new or extra airport lounges — and even their grab-and-go younger siblings — is at all times nice information, so I would like to see Citi provide distinctive lounge entry past the Precedence Cross profit it had with its earlier premium card.

Moreover, the Citi ThankYou Rewards program itself is a step behind rivals, particularly for many who prefer to lean into U.S.-based airline and resort applications. TPG’s July 2025 valuations have Citi ThankYou Rewards factors at 1.85 cents per level, which locations it behind Chase Final Rewards, American Categorical Membership Rewards and Bilt Rewards. The overwhelming majority of its companions additionally work with different banks.

There was a short second in time when Citi had American Airlines as a transfer partner, and the financial institution touted its “fantastic relationship” with American Airways in its current earnings name. As well as, a Citi spokesperson supplied TPG the next assertion in December 2024, when it was introduced that the financial institution would turn out to be the exclusive issuer of American cobranded cards (emphasis ours):

“The growth and extension of our relationship with American Airways will positively affect our present and new buyer base as we introduce new merchandise and advantages sooner or later and produce expanded loyalty and rewards choices for AAdvantage® members and Citi-branded cardmembers. We’re not sharing specifics at the moment. Keep tuned.”

Lastly, implementing some kind of distinctive resort perk or new journey profit that different premium rewards playing cards do not provide would additionally assist carve out a differentiated house for the Citi Strata Elite.