It all depends on what size catfish and striper you are targeting. If you are fishing big blue cats and stripers 20lbs and up, that Ugly stik catfish rod could pull double duty.
If you are just throwing lures for striper, i would go graphite in the 7' range. Again, depending on size of fish will determine rod weight. For inland stripers in lakes, a good 7' Medium to MH graphite rod will work well. That would serve you well for channel cats in lakes as well.
If you are live bait fishing stripers and drifting catfish, a graphite composite rod would work better. Something with a soft tip. A 7' rod is again a good all around choice.
As with any fishing applications, whether you throw lures or fish live bait for striper...anchor or drift for catfish...is going to make a difference in whether one rod will work well for all.
A decent (cheap) all purpose rod for striper and catfish is the Ugly Stik Inshore Lite in 7'. M or MH. Bass Pro sells them for around $40. It's not the regular Ugly Stik Lite, make sure it is the "Inshore". That rod could fish live bait and throw plugs and work for most catfish applications. Won't work well as a river rod or large cats.
If you are throwing lures for stripers and fish for catfish anchored up...I would go 7' graphite.