I agree this isnt any sort of blockbuster card and I will be using other cards for actual hotel purchases (after the $300 credit for this one). However -- ASSUMING (and right now I think it's only an assumption?)...the 300 credit can be used for room rates -- that leaves with a 150 annual fee. Given my travel schedule - it would probably be worth it for me to pay $150 for the watered-down gold status -- I stay at Starwood/Marriott enough but Im not someone who will consistently stay 25+ nights a year.