The Platinum card was worth it when they offered the Domestic Coach Companion fare. Once they eliminated this benefit the Platinum card became overpriced. You may find value in the card if you travel often. Even then, I'm not so sure. Yes the lounge access is nice, but is it worth $400/yr? Not for me. Also, at the moment, the FHR program is almost worthless. I say this because most of the participating hotels are offering great deals if you book with them directly. For hotel stays of 4 nights or longer you will certainly do better reserving directly with the hotel than with FHR (most hotels are offering free nights, free breakfast ect). I am very close to downgrading to Gold. Not sure what is taking me so long.