Originally Posted by
mikesyr18
....AAdvantage Platinum was recently refreshed and Citi didn't pull the application.
There's simply no need to stop applications just for a refresh
Originally Posted by
garykung
....As suggested by mikesyr18, Citi/AAdvantage Platinum Select Card is an example telling us why the product refreshing is unlikely......
Evidence that it isn't
necessary to withdraw a card before refreshing, is not the same as evidence that Citi will not do it.
Even banks that are not players in the rewards card business now have a ~$400 card with a travel credit (e.g. HSBC, US Bank). Citi needs to have a product in this category for the same reason they do, to prevent JPM Chase from poaching their large depositors.
Citi designed Chairman and Prestige to compete with American Express Platinum, but now they see that Sapphire Reserve represents more of a danger to their core banking business. They need to refresh (or replace) Prestige with a product aimed at Chase rather than at American Express.