Citigroup has unveiled its new premium credit card, the Strata Elite, designed to attract affluent customers amidst increasing competition in the luxury credit card market. With an annual fee of $595, the Strata Elite offers various competitive travel-related perks, including the ability to transfer points to American Airlines and access to Admirals Club passes. As Citi enters the credit card perk wars, experts weigh in on whether the benefits justify the cost, with comparisons being drawn to established rivals such as American Express Platinum and Chase Sapphire Reserve.