I'm surprised you can't get $550 value out of it. Amex has been throwing all sorts of perks to cardholders throughout the pandemic. Keep in mind:
- Amex is providing a $100 statement credit for renewals between now and March 2021
- Amex is providing $20/month credit for streaming services and another $20/month for phone bills (started in May, runs through December). That's $320.
- Currently most Amex Platinum cardholders have a $100 credit for Dell via Amex Offers. (Spend $100+, get $100 credit.)
That alone covers $520 and doesn't even dig into the Uber credits, which can be used for Uber Eats ($200 annually); $200 airline credit, $100 in Saks credits.
We're personally getting in excess of $1,000 in value that we would've already been spending. Not bad when you can't use the lounges.
Just wanted to play devil's advocate before you close or downgrade your card.