THE POINTS PROJECT

The Points Project is a podcast going deep into the life of a credit card optimizer.

We talk about wins, fails, award trips and everything that falls in between.

Episode 9: The Credit Card Game Is Always Changing

Listen to this free episode on Patreon

This episode dives into Citi’s new Strata Elite card, including Raymond’s P2 approval, benefits, and the future of its value, along with Citi once again allowing TYP transfers to American Airlines. We also cover the rumored Atmos Rewards Summit Visa Infinite, plus major devaluations to US Bank’s Altitude Reserve and Smartly cards.

The game is always changing.

  • 00:43 – Citi Strata Elite
    • Details: 80K TYP | $4K | 90d | $595 AF ($450 AF w/ CitiGold)
    • 2:05 – Pulling 100K Offer—2 options
    • Citi Nights – 6x on Dining?
      • First to market with hourly CC benefits
    • Strata Elite Benefits
    • Raymond’s P2 approval via 100K link
    • Did Kristoff apply?
    • Multiple Strata Elites?
    • Year 2 options and beyond…
  • 18:18 American Airlines enables up TYP transfers (again)
    • Is this a good thing or bad thing?
    • Incremental value vs. newcomers to AA
    • Is a devaluation now inevitable?
  • 23:00 – Atmos Rewards Summit Visa Infinite Credit Card (FM article)
    • Rumored SUB Details: 5K upon approval | 100K | $6K | 90d | $395 AF
      • 25K Global Companion Award
      • 100K Global Companion Award after 60K spend
      • No partner award booking fees (save $12.50 p/p on a partner award booking)
      • Up to 3.3x on dining spend and foreign transactions
      • $50 voucher for 2 hour flight delay or cancellation
      • 1 EQM per $2 spend
      • 10K EQMs each year on account anniversary
    • Mileage Plan and HawaiianMiles will become Atmos Rewards on 10/01/2025
    • Will it be possible to spend up to top-tier MVP Gold 100K? ($200K spend in year 1?)
      • Do we spend for AA status or shift to spending towards AS status?
      • 2x spend on AA cobranded cards vs. possibility to spend at 3x on the Summit
    • How excited are we about this card?
  • 40:42 – US Bank Altitude Reserve – Devaluation
    • US Card Forum leaked document
    • Long time coming – no more 4.5% cashback uncapped effective 12/14/2025
    • 3x mobile wallet spend now capped at 5K per statement cycle
    • Points now worth 1cpp if redeemed for travel or as deposit into eligible US Bank account
    • $325 Travel / Dining credit can now only be used for travel purchased through US Bank Travel
    • Transfer partners? TBD
    • Pour one out for a legend
  • 46:54 – US Bank Smartly – Devaluation
    • Within 6 months of release, 4% cashback is now borderline useless
    • Now, 100k in checking/savings with $10K per statement cycle cap on 4% with many MCC exclusions
    • Grandfathered Smartly cards
      • 100K in investment accounts still grants access to 4% cashback
      • $10K per statement cycle
    • Hopefully US Bank is done with nerfs
  • Seems like the credit card market is shifting toward more premium cards with higher annual fees, with banks aiming to induce breakage
  • Positive shifts with Citi and BofA
  • Negative shifts with US Bank

We hope you enjoy! -TPP