The Citi Strata Elite℠ Card is the bank’s newest addition to its Strata line of cards and its first premium card since the Citi Prestige® Card, which is no longer available to new applicants.

The card comes with nearly $1,500 in value each year through perks like the $200 annual Splurge credit and a complimentary Priority Pass Select membership. Citi is also furthering its partnership with American Airlines and offering some AA-specific perks that frequent flyers will appreciate.

CNBC Select dives into Citi’s newest premium option to see how it stacks up against a very competitive travel credit card landscape.

If you’re approved for the Citi Strata Elite Card, for a limited time, you can earn 80,000 bonus points after spending $4,000 in the first three months of account opening. With these points generally valued at around 1.75 cents per point by the industry, this welcome bonus is worth about $1,400, which is a great return.

This bonus is earned in the form of Citi ThankYou® Points, which can be redeemed in a number of ways, from simple statement credits, to paying with points or transferring them to one of Citi’s travel partners.

The Citi Strata Elite comes with several perks, with the bulk of its value in travel and lifestyle categories.

Statement credits

• $300 Annual Hotel Benefit: Enjoy up to $300 off a hotel stay of two nights or more booked through Citi Travel every calendar year.
• $200 annual Splurge credit: Every calendar year, earn up to $200 in statement credits from your choice of up to two of the following brands: 1stDibs, American Airlines, Best Buy, Future Personal Training and Live Nation, with the option to change your selection at any time.
• $200 annual Blacklane credit: Enjoy up to $200 in statement credits, every calendar year, when booking with Blacklane, up to $100 from January through June and up to $100 from July through December.
• Global Entry or TSA PreCheck® credit: Receive a statement credit of up to $120 every four years as reimbursement for either the Global Entry or TSA PreCheck application fee.

While you do have to book via Citi Travel, the $300 hotel credit isn’t tied to any specific brand, meaning you’ll have more options. The $200 splurge credit is another welcome addition that gives you more control over how you earn rewards, letting you choose and switch between several brands, ranging from tickets to technology.

One credit that isn’t as common is the one for Blacklane, a global chauffeur service. While it might serve as a nice luxury option for special occasions, odds are that you’ll have an easier time with a taxi or public transportation.

Additional offerings

In addition to straightforward statement credits, the Strata Elite also offers some extra benefits:

• American Airlines Admirals Club passes: Every calendar year, you’ll receive four Admirals Club Citi Strata Elite passes, good for entry to 50+ Admirals Club lounges.
• Complimentary Priority Pass Select membership: Access to 1,500+ airport lounges worldwide for the primary cardholder and authorized users, plus up to two guests.
• Access to The Reserve by Citi Travel: A collection of 4.5- to 5-star hotels.
• Travel and shopping protections: Perks like trip delay protection, enhanced trip cancellation and trip interruption protection, plus lost or damaged luggage protection, MasterRental coverage, extended warranty and purchase assurance plus.
• Mastercard World Legend benefits: The newest premium tier to the Mastercard Collection, offering priority reservations at restaurants, including in Europe through Mastercard’s partnership with TheFork, ticketing access and more.

If Citi happens to be a company you bank with, it’s possible that you could be eligible for additional savings through an offer just for Citi customers:

• Citigold® Private Client Relationship Tier credit: Citigold Private Clients who qualify for the card will receive a first-year banking credit of $595, covering the card’s annual fee. You’ll then receive a $145 annual credit each following year, with an open and current Strata Elite card.
• Citigold® Relationship Tier credit: Citigold Clients who qualify for the card will receive a $145 banking credit with an open and current Strata Elite card.

The Citi Strata Elite has a high earnings rate when you book via the Citi Travel portal, and it offers elevated earnings rates during certain eligible times:

• Earn 12X points on hotels, car rentals and attractions booked on cititravel.com
• Earn 6X points on air travel booked on cititravel.com
• Earn 6X points at restaurants on Citi Nights^℠ purchases, every Friday and Saturday, from 6 PM to 6 AM ET; earn 3X points any other time
• Earn 1.5X points on all other purchases

What jumps out first is the very high 12X on hotels and more, but it is tied to the issuer’s travel portal, a common theme with premium travel cards. It’s also the first time we’ve seen a card that has a timed window to earn elevated rewards. It earns a higher rate at restaurants on Friday and Saturday nights, which could make your weekend date nights a little more affordable.

Redeeming

When redeeming the Citi ThankYou Points earned by your Strata Elite, you have several options to choose from, like:

• Travel
• Gifts cards
• Cash back
• Shopping via select retailers
• Charitable donations

While options like cash back and gift cards are usually the simplest, they often don’t provide you with the best value; the highest value usually comes from taking advantage of the transfer partners offered through Citi:

• AAdvantage® Program (1:1 ratio for Citi Strata Elite, Citi Strata Premier and Citi Prestige cardmembers)
• ALL Accor Live Limitless (2:1 ratio)
• Aeromexico (1:1 ratio)
• Air France-KLM Flying Blue (1:1 ratio)
• Avianca LifeMiles (1:1 ratio)
• Cathay Pacific Asia Miles (1:1 ratio)
• Choice Privileges (1:2 ratio or 2:3 with select Citi cards)
• Emirate Skywards (1:1 ratio)
• Etihad Guest (1:1 ratio)
• EVA Air (1:1 ratio)
• JetBlue TrueBlue (1:1 ratio or 5:4 with select Citi cards)
• Leaders Club (5:1 ratio)
• Preferred Hotels & Resorts (1:4 ratio)
• Quantas Frequent Flyer (1:1 ratio)
• Qatar Airways Privilege Club (1:1 ratio)
• Shop Your Way (1:10 ratio)
• Singapore Airlines (1:1 ratio)
• Thai Royal Orchard Plus (1:1 ratio)
• Turkish Airlines Miles&Smiles (1:1 ratio)
• Virgin Atlantic Flying Club & Virgin Red (1:1 ratio)
• Wyndham Rewards (1:1 ratio or 5:4 with select Citi cards)

The Citi Strata Elite was built to compete with some of the most popular travel credit cards, and its $595 annual fee represents that. The card has no foreign transaction fees and a late or returned payment fee of $41. The card’s variable purchase APR ranges from 21.24% to 29.24%, depending on creditworthiness.

The Platinum Card® from American Express offers more value in the form of statement credits, making it a good option for those seeking direct value from the card. Amex’s Platinum also comes with hotel status upgrades and permanent access to Amex’s Global Lounge Collection, including its Centurion Lounges. While enrollment is not necessary for Centurion Lounge access, some other lounge programs within the American Express Global Lounge Collection, such as Priority Pass, do require enrollment. The Strata Elite offers a high rewards rate on restaurants and a flexible $200 Splurge credit. The ability to earn up to 12X on hotels and 6X on air travel booked through Citi Travel can help you rack up ThankYou Points very quickly and help finance even more getaways.

Citi Strata Elite Card vs. Chase Sapphire Reserve

The Citi Strata Elite is a great fit for those who don’t mind booking primarily through travel portals, and for American Airlines customers eager to have a card that earns rewards that can be transferred to the AAdvantage program. The card comes with up to $300 in annual hotel benefits and a flexible $200 Splurge credit, both fairly easy credits to redeem. If you’re invested in the Citi ThankYou Points system or looking for a card that earns rewards compatible with American Airlines, this card is the next perfect addition to your wallet.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

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