Core Viewpoint - Citigroup has launched a high-end credit card named "Strata Elite" targeting high-net-worth clients, aiming to compete with American Express and JPMorgan Chase in the premium market [1] Group 1: Product Details - The annual fee for the "Strata Elite" card is $595, which is lower than JPMorgan Chase's Sapphire Reserve card that recently increased its fee from $550 to $795 [1] - If cardholders fully utilize the benefits, they can unlock nearly $1,500 worth of perks [1] Group 2: Competitive Landscape - Citigroup faces competition not only from American Express and JPMorgan Chase but also from Capital One and other companies attempting to enter the high-end credit card market [1]