Citi Launching New Cards?
Update (Mar 11, 2024) – Some new information has emerged about these new Citi cards. Reportedly there’s a personal and business version, and cards should be coming in Q3 of 2024 The cards will have an elevated bonus with a $6,000 spending requirement, and will likely compete with Venture X. The card(s) will offer benefits such as travel protections, purchase protections, Priority Pass and more. (HT: Joe Barreto)
Update (Feb 10, 2023) – There was a comment at FM regarding these cards, which makes sense. “Likely in late April, Citi will restart the Prestige card under the Strata Elite moniker”. What’s interesting is that the commenter also says that “the earning structure on the revamped card might surprise some.”
Original article (Dec 30, 2022) – Citi seems to be planning two new credit card products. These could be completely new cards, or possible replacement for current Citi products.
In recent months, the company has applied to register two trademarks. One is “Citi Strata Premier” and the other “Citi Strata Elite”. The “Citi Strata Elite” trademark was filed on September 8th, 2022 and then the “Citi Strata Premier” was filed on December 14, 2022. Descriptions for both trademarks suggest that these are credit card products.
There’s no additional information about these cards and Citi hasn’t revealed any plans about new credit cards.
The names of the cards suggest that these would be some type of premium products. Currently Citi has the Prestige card which as its most premium option. But this card has not been available for new applications since 2021. Citi also has a “Premier” card already, the Citi Premier, with a $95 annual fee.
It wouldn’t make sense for Citi to have a Citi Premier and a Citi Strata Premier card. So the new card could very well be a replacement for the current Premier. And the Citi Strata Elite could be the Citi Prestige replacement. This would give Citi a streamlined offering of its on cards, similar the Sapphire cards from Chase.
But just because a bank files for a trademark, it doesn’t mean that new card is coming to the market. They could just be thinking of new ideas and then scrap it altogether.
Let me know what you think!
HT: Proud Money and Doctor of Credit
Credit: Source link
