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.

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

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