Yahoo Finance Citigroup (C) Upgrades Credit Card With Latest Features
Citigroup Inc. C introduced the Citi Strata Premier Card, an upgraded version of the current Citi Premier Card. The latest version of the card offers additional travel rewards and enhanced travel protections.
The cardholders will be entitled to earn 10 ThankYou points for every $1 spent on hotels, car rentals and attractions booked through the Citi Travel site. Similarly, customers can earn three ThankYou Points for every $1 spent at EV charging stations.
With this, the upgraded version now offers opportunities to accumulate more ThankYou points, all while maintaining its $95 annual fee and Mastercard as the payments network. Additionally, the card does not have any foreign transaction fees.
Other attractive features include enhanced travel protection for trip cancellation and interruption or delay, along with protection against lost or damaged luggage and car rental coverage.
Apart from the added benefits, Citi Strata Premier cardholders will continue to have access to existing benefits, such as three ThankYou points for each $1 spent on air travel and other hotel purchases and on restaurants, supermarkets and gas stations. Furthermore, customers will continue to earn one ThankYou point on all other purchases.
Once a year, customers can avail $100 off on a single hotel stay of $500 or more (excluding taxes and fees) when booked through the Citi Travel site. The card also allows access to Luxury Collection hotel properties on Citi Travel with Booking.com.
Cardholders will also receive World Elite Mastercard benefits, such as offers on ride-sharing, food delivery, streaming and online shopping.
Anthony Merola, head of proprietary products for U.S. branded cards, stated, "We heard from our cardmembers that they want to be rewarded for their travels as well as their everyday spending." He also added, "The Citi Strata Premier Card now offers extra ways for cardmembers to earn on travel and turn their purchases into future experiences.”
Citigroup currently has more than 10 different types of credit cards available. These cards provide a unique set of benefits to its target audience. The bank is actively introducing attractive products to transform its credit card offerings as part of its strategy to improve its core business. This initiative, combined with recent product offerings, has resulted in a rise in revenues generated from the branded credit cards business and is likely to keep supporting revenue growth in the future.
Over the past six months, shares of Citigroup have jumped 42.9% compared with the industry’s 32.8% growth.
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Currently, C carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Finance Stocks Taking Similar Steps
The PNC Financial Services Group, Inc. PNC launched the PNC Cash Unlimited Visa Signature credit card. The credit card offers simple but valuable rewards with an unlimited 2% cash back on all eligible purchases.
PNC’s cardholders are entitled to earn 2% cash back on all eligible purchases, without any limits on the amount they can accumulate. The cashback earned has no expiry date, allowing the cardholders to redeem it whenever they like.
Wells Fargo & Company WFC unveiled a new credit card called Signify Business Cash World Elite Mastercard. The new business credit card offers 2% unlimited cash rewards on business purchases.
Another attractive feature of WFC’s credit card will allow its holder to receive a $500 cash rewards bonus when $5,000 in business purchases are made within the first three months. Additional perks include Zero Liability protection, account alerts, digital wallets and no annual fee.
Cardholders will also receive World Elite Mastercard benefits, such as MasterRental Insurance Coverage, Priority Pass and Mastercard ID Theft Protection.
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