Copyright Benzinga
On Sunday, Citigroup, Inc. (NYSE:C), along with American Airlines Group, Inc. (NASDAQ:AAL) and Mastercard (NYSE:MA), unveiled a new mid-tier travel rewards credit card, Citi/AAdvantage Globe Mastercard. The new card expands the Citi/AAdvantage lineup, completing the range of co-branded travel credit cards offered under the partnership. The card is designed for travelers who fall between casual vacationers and frequent flyers categories. The card provides access to premium travel benefits, including four 24-hour Admirals Club Globe passes, expanded opportunities to earn AAdvantage miles and Loyalty Points, and an exclusive Flight Streak bonus. Also Read: JPMorgan Analyst Favors Visa Over Mastercard: Here’s Why Cardmembers can unlock more than $750 worth of travel and lifestyle rewards each year for an annual fee of $350. Management Commentary Scott Long, American’s Senior Vice President of AAdvantage said, “It’s built for the travelers who want more from every mile—with elevated benefits, faster path to status and powerful earning potential.” Pam Habner, Citi’s Head of U.S. Branded Cards and Lending added, “The launch of the Citi / AAdvantage Globe Mastercard is our first new co-branded credit card following the expansion of our partnership, marking a new chapter of innovation in our 38-year legacy,” Recent Earnings Last week, Citigroup had posted a third-quarter revenue of $22.09 billion, up 9% year over year and comfortably ahead of expectations, as strong performances across Markets, U.S. Personal Banking, and Investment Banking lifted results. Investors can gain exposure to the Citigroup stock via First Trust Nasdaq Bank ETF (NASDAQ:FTXO) and T. Rowe Price Financials ETF (NASDAQ:TFNS) Price Action: C shares are up 0.58% at $97.44 premarket at the last check on Monday. Read Next: Steve Eisman Dismisses 2008 Comparisons After Bank Earnings: ‘Only Marginal’ Credit Deterioration So Far, Not Enough To Raise Alarm Bells Image via Shutterstock
