Originally Posted by imnotalawyer

I completely broke even with two cards. Uber credits were easily utilized (fiancee and I are "busy professionals" so any time we can grab take-out it is preferred to cooking). Saks credits are also easily utilized as we can always find something neat that we need in their Home Goods section. Airline Fee credit was looking like a loss last year but it was a no-brainer dumping it into UA's TravelBank when that opened up in December-ish timeframe. I actually probably made money on the two cards with how generous Offers were in the past year, but I recognize 2020 is hardly the norm.

I hadn't considered gifting the Entertainment Credit... I know at least someone in my extended family could make great use out of Audible.

While I think that the potential for extraordinary value exists in FHR credit, this hinges almost completely upon snagging a generous upgrade at check in. Having said that, for me, a luxury hotel is not ordinarily where I would spend my money while travelling. If I had a choice between a $200/night Marriot and a $500/night FHR, I am booking at the Marriot and putting that extra $300 towards dinner and drinks somewhere outside of the hotel. I appreciate that there are plenty of folks who book FHR stays, even before this new benefit, but I am not one of them. Having said that, I am not altogether displeased with the benefit, as it essentially subsidizes on FHR stay per year provided that I can land a reservation at or near the $500 mark. My math there is that $200 FHR credit + $100 Property Credit + $X value of breakfast +$Y value of potential upgrade can be subtracted from the sticker price of whatever stay I have booked. I suppose if I can justify/stomach it for one night then two nights isn't exactly a stretch... I admittedly a complete newbie to FHR so perhaps in practice I will enjoy this more than expected. Edit: in poking around Vegas at your suggestion I see that there are plenty of decent options under the $200 mark so it seems that this will be market dependent.

Ultimately, so far as two cards in the current climate is concerned, I think I might have a hard time selling my fiancee on ~$1400 in annual fees though! Maybe if she opened up a Platinum we could make sense of it (this would circumvent the 2023 change to the Centurion Lounge guest access policy for us) but I think I am pretty comfortable moving down to one Platinum now. Who knows, one day I just might outlast the "lifetime" language and get another SUB offer to re-open my account? A guy can dream...