So i've had the AMEX plat for the past few years (paying 400-450/year?)- this card worked for me due to the lounge usage. the MR program they have is only good (so i've found) when transferring miles to continental, OR if i want to buy a gift card (100 points per $ value). however, with the recent changes made, i no longer have lounge access, but is replaced with 200 USD in incidentals/baggage fees. personally i don't ever get charged incidentals and most of my flights are international so food spend isn't an issue. The benefit of free companion business ticket if booking through AMEX travel was and won't ever be used due to the premium charged.

I've recently got the sapphire preferred card- $95 a year, and offers good point accrual ability. In addition the ultimate rewards travel center pricing is on par with kayak/orbitz etc etc so no premium, AND using their points i get a 20% premium on points i have- i.e. 50k points= 500 usd cash, OR 625 USD towards airfare. I believe the best value is to use them against hotels- but that remains to be seen.

so, is there really a benefit to having the platinim card? the 400-450 a year i'm spending doesn't really offer me any benefits, and the money could be spent on a quick domestic flight- can anyone point out any information i may be missing?

cheers!