Citi’s New Strata Elite Card Might Be Worth A Look — At Least For Year One

Despite all the talk about the Amex Platinum and Chase Sapphire Reserve refresh, this year’s biggest premium card might be coming from Citibank, which has made a small splash in its return to the premium credit card market with its new Strata Elite card.

• The $595/yr card offers a cheaper alternative to credit titans, with a $300 hotel credit, $200 “splurge” credit, and access to Priority Pass and American Airlines lounges.
• For a limited time, the company is also offering a 100K sign-up bonus for spending $6K — delivering a lot of first-year value for new cardholders across the credit score spectrum.

One big draw: American Airlines enthusiasts might love the Strata Elite, since it offers a 1:1 transfer option, which just doesn’t exist unless you’re using an AA-branded card. Limited access to American Airlines’ Admirals Club is also a serious sweetener.

One big drawback: The fantastic 100K point sign-up and reportedly quick approvals are reasons to get excited, but for those considering the card, it’s worth noting there have been some hiccups. Per WSJ, a number of new cardholders have been frozen out of their accounts — with the bank demanding additional documentation. It’s still unclear how widespread the problem is.