cardtracker

Just received the Citigroup Chairman Card and thought I'd share some impressions.

First, you don't have to be a SmithBarney client or be invited in order to get the card. I was an existing Citi platinum dividends card holder and just called that customer service number and requested a Chairman Card application which they mailed to me.

Second, the card benefits are roughly equivalent to what Amex Platinum offers. The Chairman Card provides Hilton Honors Gold level, Priority Pass, Thank You points, concierge, and a pretty good companion ticket program as part of the $400/yr. fee.

Third, the interest rate on the card for purchases is 15.74% which I find to be way high compared to the fixed 5.9% on say Merrill+.

Overall, it appears that based upon fee and benefits that Citigroup is positioning the Chairman Card as competition to Amex Platinum and leaving the very top-end space (Amex Centurion) alone.

themicah

But the Priority Pass thing only gets you in, right? Companions are like $20/person or something?

This may come across as a bit blunt, but... Carrying a balance is for poor people who can't afford to pay off their card and for dumb people who don't know any better. If you can afford a $400/year credit card, you shouldn't be carrying a balance. Otherwise, you should take that $400 and start working on paying off your credit card bill right now!

tomcat

100% Agree

cardtracker

Priority Pass only gets the primary cardholder in for free. There is an additional fee for each companion.

In terms of the interest rate, my purpose of mentioning it was as an informational point for comparison sake between cards.

Kyle53719

I have the Chairman Card and I believe that it is positioned way below what American Express offers. For example, American Express offers 24 hour road side assistance with all their charge cards; however, Chairman only offers a pre-negociated rate. American Express offers FHR program benefit, while Chairman offers a limited LHW program.

The only reason I have the Chairman Card is because my fee is being waived. The Priority Pass and Hilton Gold VIP is a great benefit, but it is redundant with my American Express Card. Therefore, besides holding a MasterCard, the Chairman's value is below that of American Express' line of products with a similar fee structure.

hillrider

According to http://www.smithbarney.com/pdf/chairmanbook.pdf, business class does not qualify: either full-fare coach, or full-fare first. You have no say on the airline, and they have the rights to put you on commuter flights -- truly first class experience...NOT

tiev

Anyone know how to get an application without currently holding any type of smith barney card? I guess I could google a customer service number and ask, but thought I would check here first.

caligirl

Seems the amex platinum is a much better card.

boxweaver

I actually think its quite competitive. I have had the Chairman card for a little while now. I prefer the priority pass vs. the NWA/CO lounge access. As a business traveler I care more about getting myself into a wider number of lounges instead of getting my family in on a vacation.

Also I prefer TY rewards to MR rewards. TY is a nice complement to the frequent traveleler who already has a billion FF miles. FF miles are great if there is availability. If not, I use TY travel rewards which are quite a bargain given that you get 2 TY points per dollar spent.

If you live in LA they also have a guaranteed reservations program through their concierge at some hard to get into restaurants like Asia de Cuba and Patina. Great for a last minute dinner plan. They also do this for NYC but I'm not sure about how good their restaurant list is.

HLS2002

How do you get the fee waived? Is it free for Citigroup Private Bank clients? Now I have Fidelity subsidizing my AmEx Platinum card.

fellowtraveller

I just received my Chairman card yesterday, so haven't even used it yet. I have no way of knowing the various cutoffs for Smith Barney subsidizing all or part of the $400 annual fee, but they picked up $100 of my first year.

While I'm sure Amex Plat and Chairman each have strengths and weaknesses, Chairman suits both my spending and travel style. I had PremierPass Elite before, and I found both the free companion and free TY point air tickets easy to use. It looks like, in addition to all the extra TY and flight points this series of MasterCard gives out, the Chairman gives triple points for pharmacy, gas, grocery, and parking charges.

Even at $400, the card is pretty easy to justify. If PriorityPass looks good to you, that would normally cost $319 to buy separately (discounted). While they haven't hit my hometown - Chicago - yet with the restaurant reservations, I suspect that will come soon enough. The few times I've called Chairman CS, the higher level of service is significant.

Obviously, I'm not yet in a strong position to report fully on the benefits of the card. I expect to report back as I discover both the sweet spots and the disappointments, both of which I suspect I'll experience. I tried Amex Plat for two years quite a while ago, back when it was $250/yr. I just didn't find the benefits attractive enough, especially when they raised it to $300/yr, which is when I said sayonara. This looks good. We'll see.

Kyle53719

I was told by my advisor that the card is initially being offered to Smith Barney clients with over $1 million in assets by an invitation-only basis. However, I have heard others say that they can just apply for it without a Smith Barney account and no invitation.

I'm unsure about this, but I remember being told that to get your entire fee waived, you must have at least $1 million in assets and spend $10,000 a year on commissions with Smith Barney; but, the commission requirement is waived for those with more than $5 million in assets.

itzperch

I'm not poor by any means. But if you really want to be an elitest....if you're really rich, you dont need a credit card. Getting "points" and "freebies" really shouldnt matter if you are a man of true wealth.

themicah

It's not a matter of elitism, but of good sense. FlyerTalk is all about maximizing the value of various mileage and points systems, and carrying a balance on a $400/yr card is not good value. IMHO the APR therefore shouldn't even enter into a discussion of this card.

I understand that some people sometimes need to carry a balance on their credit cards to make it to the next month. But those people don't need to spend $400 for a card where the main benefit is lounge access. Instead they can sit with me in the regular chairs by the gate while they work on paying off their debts.

Kyle53719

Does the Citi Chairman Card offer free towing and roadside assistance like the Amex cards? I'm looking through the literature of my intro package I got last year, and I don't think I quite understand. Any help is appreciated, thanks!