With a annual fee, the positions itself as a premium card—and it largely delivers. While it may not offer quite the same perks as top-tier competitors, it holds its own with a strong lineup of benefits at a lower price point.

An honest look at Citi's newest premium rewards card, built for travelers and high spenders looking to get more from every dollar.

The Strata Elite Card, with an annual price tag of $595, is Citi's latest foray into competitive field of premium credit cards.