The Infinite Elite program actually started in the late 1980's and ended around 1992 - if top level earned in one of those years you were grandfathered in to continue. If you EARNED the top level for five years in a row, you achieved the status. Back then the three EQM levels were 20/40/60 with 60 being Gold. Later in the early 1990's EQM levels changed to 20/35/50 - with Gold still being the top level. The first Infinite card was Gold Infinite (ie the BF reward code EG - meaning E with Gold status).

Then when the levels were up'ed 25/50/75 and the titles changed from Bronze/Silver/Gold to Silver/Gold/Platinum - the Infinite cards were recharacterized as Platinum Infinite. Remember the top level used to be 60K EQM - so having keep the Infinite level at Gold would have been a downgrade. You had to really earn the level. Being upgraded in a year because you were close, did not count. You neded 5 consecutive years of exceeding the top level requirements.

My understanding was that the program was discontinued because many -when they earned it - their flying on CO would drop, because they now had it on CO and they want to earn elite on another airline. Those of us that stayed with CO during bankrupcy were then rewarded - although many questioned the value when the second bankrupcy occurred and CO was almost out of cash.