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...