During the coronavirus pandemic, no larger segment of the credit card industry has been hit harder than the cards with high ($450+) annual fees. While it may be hard for some to have to pay that money upfront cards like these usually have a ton of benefits that really can make up for the annual fee. The problem though, is that these cards are usually focused on traveling. With the lockdown orders being in full effect in many places across the world, these benefits really can’t get used. So unless these companies do something, many people will be forced to close their cards, as they aren’t getting value anymore. There is some good news coming in from Citi and American Airlines
If you happen to have the AAdvantage Executive card you my be in luck. The card normally carries a $450, and it does pay for itself with some of its benefits; including a $650 Admirals club membership. Regardless, cardholders that have had the card as early as March 31, 2020 will be eligible for a $225 statement credit. This means that if you opened the account from April 1, 2020 or later, you would not be eligible for this credit.
“At Citi, we are committed to ensuring that our credit card products continue to drive value for our customers throughout these unprecedented times. GIven the impact of COVID-19 on travel and the temporary closure of Admirals Club lounges, we are notifying eligible Citi/AAdvantage Executive cardmembers who had an open account as of March 31, 2020 and prior that we will be issuing a one-time courtesy credit of $225 upon card renewal. Cardmembers will see the credit within two billing statements after the annual fee bills to the account. Citi, alongside our partner American Airlines, are looking forward to welcoming our cardmembers back to the Admirals Club lounges soon.”
This is great news, as it isn’t tied to any sort of spending requirement or anything like that. All you would have had to do is hold the card before the March 31st deadline, and you should be good to go.
Do you have the Executive card from AA? Are you excited to see this news? Let us know how you feel in the comment section below.