The new Citi Strata Elite is a very attractive travel credit card, even with its $595 annual fee, but its drawbacks might be discouraging.

Rising annual fees and excessive statement credits have led to some fatigue in the premium credit-card market — but consumer demand persists.

Strata Elite is the top-tier option in Citi’s new Strata card family, which includes Strata and Strata Premier, following the "good-better-best" product strategy. As banks increasingly turn credit cards into high-end subscription models, customer appetite for multiple high-fee cards remains a key question.