When I got it was $450, they recently raised the prices. Even if you run the calculations, its still worth it.
$550 a year fee
$200 airline credit
$200 Uber credit
$20 Global Entry credit per year (Prorated. Global entry costs $100 per 5 years and AMEX will cover the cost).
Gold status with SPG and Hilton
Lounge access at many airports
Free subscription to GoGo for in flight internet (domestic)
And lastly, AMEX Platinum Concierge is still the best service for any card.
5x points on airline purchases.
Chase Sapphire has even better value.
$450 fee
$300 credit per year (When I got this card, I was able to redeem the credit twice due to the timing and how Chase calculates the year.) ALso Chase's credit is far more useful since "travel" is loosely defined for them.
Lounge access
$20 Global Entry Credit per year (used this one for fiance)
The AMEX redemptions are some of the worst, and they are losing partners. They also didn't auto-reimburse me for the airline credit when I followed all their instructions. They also didn't reimburse me for Uber credit -- apparently it doesn't work when the trips are in other countries (only the US), which is a really lame for a "travel" card.
For ANA its pretty sweet. 85k round trip on business to Asia. But, in general I agree I think they are on the down fall and they need to come up with some new things to remain competitive. The hotel status are the only reason I have them because I have been traveling a lot lately and its worth it. I may end up cancelling it in the future.
