FIRST PLACE: CITIBANK ULTIMA CARD

Citibank offers its own version of the Black Card, called the Citibank Ultima Card. Although this card is for the wealthy and elite, it costs far less annually to own this card ($1200 a year, rather than the $2500 annual fee for the Amex Black Card), putting it within reach of most upper-class households. A comparable card for folks with a more modest salary is the Citi Premier Bonus Pass Card, Elite Level.

The Citi Premier Bonus Pass Card costs a more reasonable $75 a year, and you must be approved to get it. Its perks are similar to the absurdly fancy Black Card, such as a “complimentary companion ticket” for air travel—however, this occurs at a more modest coach-seat level (as opposed to the first class companion ticket offered by the Amex Black Card).

Also, there is a practical points reward scale, in which money is returned to you in mass point amount based on spending. However, the modesty of this card kicks in when you see your reward points pay off: even if you earn 12,000 points on travel for two, you can only use it to buy specific items, such as an iPod Nano, which costs 11,900 points.

We called Citibank customer service to ask about some of the other perks and services. “The American Express Black Card has services like personal shoppers, and concierge, and 1-800 hotlines for emergency medical evacuation in even the most remote locations,” we asked. “What services does the Citi Premier Bonus Pass have?”

“Well, we offer up to $1,000,000 in travel insurance,” answered the customer service rep, “along with total coverage of all lost luggage, free cancellation coverage, rental insurance if something should go wrong with a rental car, and also roadside assistance.”

So it’s nice to know that Citibank offers a comparable card that promises to help you out every step of the way, on the worst vacation ever.

RATING: First Place. To be treated as exquisitely as Seinfeld and his Centurion Card, you only pay $1200 a year. Totally worth it. However, if you don’t mind earning points towards a free airline ticket instead of two free on a private jet, then the $75 Premier Bonus Pass Card Elite Level is a great compromise.

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This entry was posted on Wednesday, April 16th, 2008 at 5:28 pm and is filed under Money Makes the World Go Round. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.