A new elite member credit card is out as issuers target wealthy customers

A new elite member credit card is out as issuers target wealthy customers

Citi launched a new premium credit card tailored to high-income consumers. It comes as banks ramp up premium offerings to attract and retain wealthier clientele amid rising competition. The Citi Strata Elite Card, the bank's newest premium credit card, launched this week, comes with an annual fee of about $595 with an additional $75 annual fee for each authorized user. The hefty fee, targeted towards higher earners, comes with significant perks,…