I have been a AmEx cardholder since 2000 all by myself; just me on the account. I just recently turned 23. Now I have yet to update my credit profile or income (stated as $17K on the app. 6 years ago) with AmEx yet get offered the Plat card (currently have Gold). I have called and said I would accept the Plat card if I got either 50K points (so a free VS USA to London return) or Priorty Pass. No luck. Now with the end of the double point promos and 'Everyday Spending' my spending goes to my UA/Chase Visa or debit card with WaMu or Bank of America for the $0.03 a transaction or 5%. I liked the MR program but what it the point of paying $395 for Plat or $150 for Gold for no benefit that I use?
So back to the topic. If you make $60K or $600K, will you have ANY use for Plat beside the lounge access if you must fly SkyTeam? Put the $400 in an IRA and take Capital One card. Atleast they do not rape there cardmemebers on the foreign currency charges.