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

Citi is a TPG promoting accomplice.

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 will probably be providing a three-tiered assortment of recent playing cards — including a premium card.

If you’re conserving depend, and you’re keen on these playing cards and their perks as a lot as I do, you would possibly begin to marvel what Citi might need up its sleeve as the opposite main gamers actively compete for pockets area within the profitable premium card market.

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

Sooner or later this quarter (so by Sept. 30), Citi will launch a brand new premium bank card, the Citi Strata Elite, in response to remarks made on the financial institution’s July 15 earnings name.

The brand new Citi Strata Elite card is claimed to be becoming a member of Citi’s group of rewards merchandise in some unspecified time in the future within the coming months with the intention to enchantment to “prosperous prospects.” So whereas Citi has not shared the precise annual charge that may 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 in regards to 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 not obtainable to new candidates, is a premium card that earns Citi ThankYou Rewards factors. It was obtainable by way of 2021 — although current cardholders have been capable of hold it of their wallets.

Each day E-newsletter

Reward your inbox with the TPG Each day publication

Be part of over 700,000 readers for breaking information, in-depth guides and unique offers from TPG’s consultants

By signing up, you’ll obtain newsletters and promotional content material and conform to our Terms of Use and acknowledge the information practices in our Privacy Policy. It’s possible you’ll unsubscribe at any time.

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

Whereas the cardboard actually had its followers, particularly those that may maximize that fourth-hotel-night-free perk, it was lacking a couple of key perks in comparison with different main gamers within the premium card area, similar to American Specific, Chase and Capital One. Specifically, it did not supply any proprietary lounge entry and was extra restricted in its distinctive switch companions throughout the Citi ThankYou Rewards lineup.

The knowledge 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 all 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 larger than that.

However past that, I might love some uniquely rewarding bonus classes that are not already provided on the lengthy listing 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 charge, I might wish to see a restricted variety of high-value however easy-to-use credit that do not require quite a lot of thought and energy (as in, not a sophisticated “coupon ebook” strategy).

And whereas it is perhaps a tall order, I might actually love Citi to now tackle a few of the gaps that it had final time it had a proprietary premium rewards card.

Specifically, it will be nice to see the cardboard supply some kind of distinctive lounge entry and/or switch companions which might be arduous or inconceivable to copy elsewhere. Entry to new or extra airport lounges — and even their grab-and-go younger siblings — is all the time nice information, so I might like to see Citi supply distinctive lounge entry past the Precedence Move profit it had with its earlier premium card.

Moreover, the Citi ThankYou Rewards program itself is a step behind rivals, particularly for individuals who wish 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 Specific 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 “great relationship” with American Airways in its latest earnings name. As well as, a Citi spokesperson provided TPG the next assertion in December 2024, when it was introduced that the financial institution would turn into the exclusive issuer of American cobranded cards (emphasis ours):

“The growth and extension of our relationship with American Airways will positively impression our current 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 presently. Keep tuned.”

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