Citigroup Launches New “Chairman” Card

Chris Owen

2 July 2007

Citigroup is launching a new "invitation only" credit card, called the Citi Chairman American Express Card, for Smith Barney and Citi Private Bank clients. It becomes available later this week. The card, which comes with a $500 annual fee, offers several incentives related to travel and rewards, including no foreign-currency transaction fees, a 24-hour personal concierge service to make reservations for dining and events, travel benefits such as access to private jets, and additional rewards points for shopping and using Citi products. The Chairman card is the latest in a spate of card and card-related programmes launched to attract HNW consumers. Others include Bank of America's launch of the "Accolades" American Express card and Discover Financial Network's release of an unnamed card programme for third-party issuers aimed at wealthy consumers.