Citi upgrades Premier cards as travel spending takes off

Citibank is enhancing its premium credit card with new benefits and protections for travelers.

banking giant Strata Premium CardAnnounced on Monday (May 13), the scheme offers more benefits and the opportunity for more rewards and comes amid a surge in travel spending across age and income brackets.

“We’re hearing from card members that they want to earn rewards on travel and everyday purchases.” Anthony MerolaCiti's head of proprietary products for U.S. branded cards said in a press release. “The Citi Strata Premier Card now offers card members additional ways to earn travel dollars and convert their purchases into future experiences.”

The card offers protection in the event of trip cancellation or interruption and lost luggage, and once a year, offers a $100 discount on hotel stays of $500 or more.

“Exceed three quarters of U.S. consumers are likely to take advantage of credit card travel offers, so we partnered with Citi to update credit card offerings to enhance their traveler experience. Jason LaneExecutive Vice President, Global Account Management, Mastercard. “We focus on the essential benefits travelers value by adding protective measures to help ensure every journey is smooth sailing.”

As noted last month, spending by higher-income consumers drove a surge in travel spending in the first quarter.

Latest from PYMNTS Intelligence last transaction Analysis of consumer spending patterns this quarter shows an increase in consumer spending across all age groups in the travel category, with credit card usage up 24% from the previous quarter.

However, consumers aged 44 or older with an annual income of more than $100,000 consistently spend more than younger consumers and lower-income groups.

The willingness of older people to use credit cards to purchase travel underlines their trust in credit providers, with many provide protection Fight against trip cancellations and fraudulent charges.

“Differences in spending may also be attributed to different priorities, financial strategies or available leisure time, with many older consumers having retired and having more flexibility to travel,” PYMNTS Intelligence reports.

As reported last week, There are other factors driving Increase in travel spending, such as business travel, especially among global multinational likes American Express Global Business Travel and major airlines have recently reported Business travel rebounds.

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