Citi Launches New Strata Card and Strata Elite: What You Need to Know
In an exciting development for credit card enthusiasts, Citi has officially launched the Citi Strata Card and the Citi Strata Elite, marking a significant overhaul of its credit card lineup. Originally reported by The Points Guy in May, the rebranding from the Citi Rewards+ Card to the Citi Strata Card is now complete, and applications for both cards are open as of July 27.
For existing Citi Rewards+ Cardholders, the transition to the new Citi Strata Card began on July 20. With these changes, Citi aims to enhance its ThankYou Rewards-earning offerings and provide cardholders with more flexible and rewarding options for everyday spending.
The Citi Strata Card introduces several noteworthy features and changes that both new and existing cardholders should be aware of. Here’s a breakdown of what to expect:
Enhanced Earning Rates and Categories
One of the most significant changes is the revamped earning structure. The Citi Rewards+ Card previously rounded up purchases to the nearest 10 points and offered a 10% points redemption bonus, which are now discontinued. However, the new Citi Strata Card compensates for this with improved earning rates that are designed to be more competitive in the current market.
– Grocery and Gas Purchases: Previously, the Citi Rewards+ Card earned 2 points per dollar spent on grocery store and gas station purchases. The new earning rates for the Citi Strata Card are more lucrative, making it a strong contender for everyday expenses.
– Travel Purchases: The former Rewards+ Card offered 5 points per dollar on hotel, car rental, and attraction bookings through the Citi travel portal, but this was limited to a specific time frame. The Citi Strata Card now features this earning rate as a permanent benefit, making it more appealing for frequent travelers.
New Bonus Category
One of the standout features of the Citi Strata Card is the introduction of a self-select bonus category that allows cardholders to earn 3 points per dollar spent in a category of their choice. This flexibility means that cardholders can choose categories that align with their spending habits, whether it’s dining, fitness memberships, or entertainment. The ability to change this category every quarter enhances the card’s versatility, making it easier for users to maximize their rewards.
Competitive Welcome Bonus and Introductory Offers
For new applicants, the Citi Strata Card offers a generous welcome bonus of 30,000 points after spending $1,000 within the first three months of account opening. This is a great incentive for those looking to make the most of their initial spending.
Additionally, new cardholders will benefit from a 0% introductory APR on balance transfers and purchases for the first 15 months. After this period, a variable APR of 19.24% – 29.24% will apply, based on creditworthiness. Balance transfers will incur a 3% fee (minimum $5) during the first four months, increasing to 5% afterward.
Instant Access and Conversion for Existing Cardholders
Another appealing feature is the instant authorization and access to the new credit card for approved applicants. For those who were previously holding the Citi Rewards+ Card, the automatic conversion to the Citi Strata Card means they can enjoy the new benefits without needing to reapply.
A Competitive Player in the Market
The Citi Strata Card is designed to compete with other popular offerings in the credit card market, such as the Chase Freedom Unlimited® and Chase Freedom Flex®. With its enhanced earning rates and flexible bonus categories, the Citi Strata Card positions itself as a viable option for consumers looking to maximize their rewards on everyday purchases.
Pam Habner, Citi’s head of branded cards and lending, emphasized the importance of customer feedback in shaping these changes. By engaging with cardholders and focusing on their desires for more flexible earning options, Citi has made meaningful adjustments to its credit card offerings.
Conclusion
The launch of the Citi Strata Card and Citi Strata Elite represents a significant shift in Citi’s approach to credit cards, aiming to provide cardholders with more value and flexibility. With enhanced earning rates, new bonus categories, and competitive introductory offers, these cards are poised to attract both new customers and retain existing ones.
Whether you’re a seasoned Citi cardholder or considering a new credit card, the Citi Strata Card is worth exploring. With its comprehensive rewards structure and customer-centric design, it could be the perfect fit for anyone looking to elevate their spending power and earn valuable rewards along the way.
For additional insights and comparisons of credit cards, The Points Guy continues to provide valuable information to help consumers make informed decisions in their financial journeys.
