New applicants for Citi Strata Elite ℠ Card According to a city spokesperson, there’s no need to worry about experiencing the same income verification headaches that some early adopters endured.
“This is not an ongoing issue for City Strata’s new elite applicants,” a spokesperson told NerdVault via email.
95 595– Noel Fay Citi Strata Elite ℠ Card Launched in July, marking Citi’s return to the premium travel credit card space. Thanks to an exclusive partnership with American Airlines no other card issuer is able to offer. These facilities include passes US airport lounges and its transferability City Thank You Points In the American Airlines loyalty program. The card even has its own celebrity spokesperson, famous actress Kristen Bell.
However, some cardholders found themselves scrambling after their accounts were frozen and the city asked them to submit a completed IRS Form 4506-C, which is used to verify a taxpayer’s income. While it’s not unheard of for banks to request this form as a fraud prevention measure, the number of people taking to blogs and online forums to complain about the request suggested a widespread problem.
The timing wasn’t great either: many people were still in the process of meeting their minimum spending requirements to qualify for the card’s bonus offer.
City’s response to affected cardholders
On Oct. 17, Citi reached out to cardholders whose accounts were successfully blocked to offer a remedy, according to a copy of the email reviewed by NerdWallet. These steps include:
A $595 statement credit that effectively covered the first annual fee.
$75 statement credit for each authorized user fee paid.
Awarding the sign-up bonus in full, even if cardholders do not meet the minimum spending requirement.
The bank still offered guidance to affected customers on what they need to do to verify their income and unblock their accounts.
After the Wall Street Journal came access to cardholders Published a report Details of cardholders’ frustrations with the income verification process on October 16 and issues with form submission. However, cardholders have been commiserating on Reddit and other platforms for more than a month about ways to handle the income verification process.
Is it a good idea to get the City Strata Elite now?
Some might argue that now might be the best time to apply for the card, as the City has made it clear that it is aware of the problem and has taken steps to address it. Others may decide that the hassle isn’t worth the potential, at least not yet.
If you are thinking about applying Citi Strata Elite ℠ Cardsome of the card’s attractive benefits include higher point-earning categories, access to American Admirals Clubs and the ability to transfer points. City Transfer Partnersincluding American’s aadvantage program. It also offers a number of statement credits that can help offset the annual fee, including a $200 splurge credit for select merchants, including American Airlines, and a $300 hotel credit for bookings of two nights or more through Citi’s travel portal.
Right now, eligible applicants can receive the following offers: For a limited time, earn 100,000 bonus points after spending $6,000 in the first 3 months of account opening.
While people whose accounts were blocked are still getting their sign-up bonus even if they don’t meet the spending requirement, new applicants will need to meet the minimum spending requirement to receive them.
