Citi Charges $595 for ‘Strata Elite’ Credit Card to Rival Amex, Chase

Citigroup Inc. launched a premium credit card designed to rival ones offered by JPMorgan Chase & Co. and American Express Co., the latest entrant in the increasingly crowded market for cards offering high-end perks.

The ‘Strata Elite’ card will feature an annual fee of $595 — a price that the bank says can unlock almost $1,500 in value if used to its maximum potential. It offers the largest points rewards for hotels, car rentals and attractions booked on Citigroup’s travel platform, as well as restaurant dining at peak weekend times.