Citibank just rolled out their new Citi Strata Elite credit card, joining Chase and Amex in the premium (over $500/yr) category with a range of benefits focused on frequent travelers. While each brags that its card pays for itself twice or thrice over its cost, the true value depends on which perks you’ll actually use, and it’s usually much less.
Pam Habner, Head of Citi’s U.S. Branded Cards & Lending, in announcing the new premium card, said, “The new Citi Strata Elite Card is the smart choice for savvy premium cardmembers who want to earn high rewards on travel and dining while still earning generously on every dollar spent. You shouldn’t need a math degree and a spreadsheet to track your credit card benefits! We have curated flexible lifestyle benefits that we know our customers will want to use—because we asked them what they value. And, this is the only branded credit card that has American Airlines benefits built right into the card.”
Her point about not needing a math degree and spreadsheet is well-taken, as many of these cards have lots of hoops to jump through to access the savings. Yet, no card has a rule as weird and restrictive as Citi’s dining benefit:
“Food credits are valid only on Saturdays and Sundays between 6pm and 6am Eastern Time“
So, is the Citi Strata Elite card a worthwhile competitor? Let’s compare the three:
| Feature | Chase Sapphire Reserve | The AmEx Platinum Card | Citi Strata Elite Card |
|---|---|---|---|
| Annual Fee | $795 | $695 | $595 |
| Authorized User Fee | $195 | $195 | $75 |
| Earning Rates | 8× points on Chase Travel purchases; 4× on travel booked directly 3× on dining 1× on other | 5× flights & prepaid hotels 5× dining (capped)* 1× on other | 12× points on hotels, car rentals & attractions via Citi Travel 6× on airfare via Citi Travel & dining (Citi Nights Fri‑Sat nights); 3× on dining other times 1.5× all other purchases |
| Annual Credits | $300 travel credit $300 The Edit hotel credit ($250 twice, includes breakfast, etc.) $300 StubHub —Viagogo $200 airline fee credit- $300 DoorDash (food and groceries) $240 digital entertainment $120 Peloton | $200 airline fee $200 hotel (FHR)- $240 digital entertainment $200 Uber $100 Saks $120 Peloton CLEAR, Lyft, Walmart+ | $300 hotel credit via Citi Travel $200 annual “Splurge” credit (choose two brands: Best Buy, AA, Live Nation, etc.) $200 Blacklane chauffeur credit |
| Global Entry/TSA PreCheck Credit | Up to $120 every 4 years | Up to $100–$85 every 4–5 years | Up to $120 every 4 years |
| Lounge Access | Chase Sapphire Lounges + Priority Pass + 2 guests + Maple Leaf Lounges | AmEx Global Lounge Collection + Priority Pass Select (guest fee) + limited Delta Sky Club access | Priority Pass Select (primary + guests) + 4 Admirals Club Lounge passes annually |
| Hotel Elite Status & Perks | IHG Platinum Elite (Complimentary up to 2027); The Edit biannual property credits; Relais & Châteaux perks; Marriott/Hilton perks unlock at $75K spend | Hilton Gold; Marriott Gold; Fine Hotels & Resorts benefits | Citi Travel portal benefits (The Reserve): includes daily breakfast, $100 property credit, upgrades when available; hotel credit usage via portal |
| Travel Protections | Primary rental car insurance; trip cancellation interruption; baggage delay; emergency medical/dental; roadside assistance | Trip cancellation, interruption; delay insurance; baggage insurance; concierge; return protection | Trip delay & cancellation; lost/damaged luggage; MasterRental collision damage waiver; enhanced protections via Mastercard World Elite |
| Point Redemption Value | Up to 2¢/pt when booking via Chase Travel after 10/26/25; generally ~1.5¢/pt earlier points | 1¢/pt flights; ~0.7¢/pt hotels via AmEx Travel, varies by partner | ThankYou points valued at ~1.85¢/point by TPG; 1:1 transfer to multiple airline/hotel partners |
| Transfer Partners | Wide array: United, Southwest, Hyatt, Marriott, etc. | Broad network: Delta, Emirates, British Airways, Hilton, Marriott, etc. | Citi ThankYou partners including AA AAdvantage, JetBlue, Virgin Atlantic, Cathay Pacific, Eva Air, Choice Hotels, Leading Hotels of the World, etc. 1:1 AA transfer is unique |
| Foreign Transaction Fees | None | None | None |
Quick Take:
- Chase Sapphire Reserve offers the most flexible travel credits, premium travel protections (including primary rental car insurance), and strong in-house point value. Only card with United point transfer.
- AmEx Platinum offers a wide range of airline partners (but not United), luxury hotel perks, CLEAR, some of the best lounges, plus concierge and media credits.
- Citi Strata Elite offers premium travel perks at the lowest fee of the three, high multipliers via Citi Travel, and benefits aligned with American Airlines.
Analysis
I looked at the actual value of each card for my own situation, a moderate traveler, frequent diner, with existing streaming services. I assumed I would use the most significant and easiest to access rewards, including the airline, dining and hotel credits. I would use the lounges several times a year, would use CLEAR and use a portion of the Uber/Lyft credits. I would not use the streaming services offered nor would I use Stubhub, Door Dash’s grocery delivery service, or Peloton. I also assumed I would purchase an extra card for my wife.
Here’s the values I came up with:
Chase Sapphire Reserve: $1000 value; Costs $970 w/ 2nd card
Amex Platinum: $900 value; Costs $890 w/ 2nd card
Citi Strat Elite: $700 value; Costs $670 w/ 2nd card
For me, each card provides a value about equal to their cost, but not the two to three times that they claim. The cards also offer point-multipliers that provide additional points compared to a no-fee card, a higher level of customer service, and a travel booking service that’s required to access some of the benefits. So, assuming you’re a frequent traveler, fly often and stay in several hotels each year, you’ll come out ahead.
Sign on bonus
Each of these three cards are currently offering valuable incentives to get your business, assuming you are a first time member. Chase Sapphire Reserve is offering 100,000 points plus a $500 Chase Travel promo credit, Amex Platinum offers 175,000 points, and Citi Elite offers 80,000 points. Each comes with varying requirements to spend thousands of dollars in the first 3 to 6 months. These bonuses alone justify the cost of the card if you assume each point is worth one cent.
A Revamped Amex Platinum card coming soon
American Express has officially announced a major refresh of both its consumer and business Platinum Cards scheduled for release later this year, marking the largest overhaul in over 40 years. While Amex has not released every detail, several key changes and trends have been confirmed or strongly indicated:
- Expanded Lounge Access: Amex will add new premium airport lounges, including upcoming Centurion Lounge locations in Newark, Salt Lake City, and Tokyo, bringing the global total to at least 32 lounges.
- Enhanced Dining Benefits: Following its acquisition of the reservation platform Tock in 2024, Amex will offer significantly more dining options (adding 7,000 new options to the 20,000+ already available through Resy), as well as preferred access to tables and experiences at a much wider array of restaurants and wineries.
- Focus on Younger Demographics: The updates will be tailored, in part, to appeal to millennial and Gen Z consumers, who now constitute about 35–40% of U.S. Platinum Card holders.
- Physical Card Redesign: Amex will update the “look and feel” of the Platinum Card, aiming for a design that appeals to a broader and younger customer base.
- More Differentiated Benefits: Amex intends to introduce more lifestyle and shopping-related credits, as well as exclusive offers and experiences, in addition to the already-extensive lineup of travel, hotel, and status perks.
- Potential Fee Increase: There are widespread expectations that the annual fee will increase from the current $695 to a figure potentially approaching or exceeding $900, though this has not been formally announced.
Other possible updates—based on official statements and industry speculation—include more flexible business spending tools and new statement credits for merchant partners like Adobe and Dell for business versions.
Amex executives have emphasized that the goal is to make the Platinum Card the most compelling premium card for travel, dining, and lifestyle, exceeding even the value of its annual fee for most users. The company is also putting a renewed emphasis on experiences and exclusive access across sports, fashion, and entertainment.
Comprehensive details, including the final list of new benefits, credits, and any fee adjustments, are expected to be released by Amex closer to the official launch later this fall.
