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

Citi, a Forbes Advisor partner, just made a big move for travelers who want valuable travel perks without paying an annual fee. Now, holders of no-annual-fee Citi cards like the and can transfer their ThankYou® Points to almost all of Citi’s airline and hotel partners.

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