Citi’s Strata Elite Card challenges AmEx Platinum and Chase Sapphire with travel-heavy perks

Not willing to be caught idling while Chase and American Express release new premium credit cards, Citi is launching one of its own: the Citi Strata Elite Card.

While Citi has offered a premium credit card in the past (the Prestige Card, which some customers still have and use, but is no longer available to new customers), the Citi Strata Elite Card is the company’s return to the pitch in many years. Specifically, the new card is designed to directly compete with Chase’s Sapphire Reserve card and the Platinum Card from American Express—both of which have recently announced new features, fees, and revamps.

As for what makes Citi Strata Elite superior to its competitors’ offerings? Pam Habner, Citi’s head of U.S. branded cards and lending, says that in the simplest terms, “it’s the best card for premium customers who have a passion for travel and dining.”

The card itself boasts an overall value of $1,500 annually, against an annual fee of $595. That includes an annual $300 hotel benefit, $200 “splurge” credit (for use with certain brands, such as Best Buy or American Airlines), a $200 Blacklane chauffeur credit, and a fee credit for Global Entry or TSA PreCheck.

There are numerous perks associated with American Airlines, too, which has had a long relationship with Citi, including four Admirals Club lounge passes. Card members also multiply their points earnings by 12 when booking hotels, car rentals, or attractions through the card’s travel portal, along with a six-times multiplier when booking air travel or ordering from certain restaurants at certain times.

In all, it packs a powerful punch for people who like to travel and eat out. Habner says that compared with competing cards, it “is the card with the highest reward potential on the market—it offers travelers more benefits than any other card.” And she notes that the top reason premium cardholders opt for high-level or premium cards is for the travel benefits, according to her team’s research.

There was a good amount of research, too, that went into the development of the card. While Citi’s previous premium card was “designed for its time,” the new card “meets the needs of the modern premium customer,” Habner says, and it took a good amount of time, data, and research to figure out exactly what those were.

The Strata Elite Card’s slate of benefits and perks, she says, reflects Citi’s findings.