Just had an Ameriprise plat retention call. Was offered 20k MR or $200 statement credit after $3k spend in 3 months. Extremely little spend (probably under $1k?) annually beyond Uber/Saks/Airfare/Amex offers.

Accepted on the basis that I value airfare and Uber essentially at cash value. Value $100/Saks at maybe $25. That's $425 in cash value. $3k spend nets 23k which I value at 1.4cpp (Jetblue while holding 10% bonus)= $323. Minus opportunity cost of $3k spend on a 3.3% back card of ~$100= $223. Placing me well above the $125 I'd consider break even.

I didn't consider other Plat benefits in my calculus as these could be obtained through churning another flavor.