Citi Plans ‘Strata Elite’ Credit Card to Rival Amex Platinum (1)

Citigroup Inc. is preparing to launch a premium credit card, returning to a competitive field as more banks target high-end customers with elaborate rewards offerings.

The bank is planning to launch a card named “Strata Elite” in the third quarter of the year that “rounds out our family of proprietary rewards cards,” it said in an earnings presentation Tuesday. The presentation did not include details on whether Citigroup will charge an annual fee for the card or what its specific rewards will be.

With the new card, Citigroup will be joining an increasingly crowded landscape. JPMorgan Chase & Co. recently ...