Americans’ insatiable wanderlust is reaching new heights these days. It doesn’t matter your age or income bracket; people are funneling an increasing amount of dollars into seeing the world.
The numbers don’t lie. Most recent consumer spending data showed travel as one of the hottest categories. Unsurprisingly, older, higher-income folks (think retirees with cash to burn) led the charge.
But you don’t need to tell anyone working at Citi about that. They’ve had a front-row seat to the collective travel spending frenzy for years now. And the banking giant has finally taken notice in a major way.
Citi just unveiled a serious glow-up for their Premier rewards credit card, aptly renamed the Citi Strata Premier. The refresh is laser-focused on leveling up the travel perks to match modern jet-setters’ needs.
Anthony Merola, the head of Citi’s proprietary U.S. card products, straight-up admitted their existing offerings were lacking:
“We heard from our cardmembers that they want to be rewarded for their travels and everyday spending.”
The card employs Mastercard as its payment network and offers additional benefits and opportunities to earn ThankYou® Points for the same $95 annual fee. Creating a sense of ambition and inspiring cardholders to reach new heights. The card covers nightmares like canceled trips, interruptions, lost baggage, and delays, providing a safety net for hard-earned vacation plans.
Additionally, an annual $100 discount on any hotel stay over $500 encourages cardholders to choose more upscale accommodations.
Will all of these travel perks be enough to make the Strata Premier stand out in the increasingly crowded premium rewards space? Or will it join the long list of “me too” offers struggling for relevance?
That’s yet to be seen. But one thing’s for certain – credit card issuers can no longer afford to sit idly by as travel continues skyrocketing as a main spending priority across demographics.
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