DrDave2006 You might be correct. It might have a better concierge service over the Mastercard or even BOA Accolade Amex card. But do you think that is worth $500 a year? Remember most SB clients did not want to pay $400 even for the Mastercard version as Citi saw a mass cancelation after the first free year which was when they opened the Mastercard version to general public.

I think some idiot personally at Citigroup thought if we switch our card over to Amex Platform people will use it more or be willing to pay more for the card. They cited as an example Amex Centurion charging $2.5k annual fee to back up that claim. That same person should have said look BOA is waiving the annual on there card with $100K in assets at BOA. So maybe instead of doing a 1 year waiver we should offer an on going waiver for Reserved Clients who have to maintain $500k min in assets with Citigroup which is 5X as much as BOA.

Remember Citi makes money when people use the card as they collect merchant fee's. If they waived the annual fee on an ongoing basis for SB clients. I am sure they might make more money overall on the card over trying to squeeze $500 annual fee out of everyone.

Btw I accepted the invitation I got only because Citi was waving the first year for me and I got 30K TYP for signing up. But I wont use the card 1X even because I am kinda of pissed Citi is only waving the annual fee for 1 year. When the annual fee is billed I will cancel it just like I did with Mastercard version. And personally I prefer my Centurion card. If the card was free I might consider downgrading to Amex Plt and using that Chairman Amex but not for $500 a year.