Amex basically gives you the first year of platinum ownership for free when you factor in the sign-up bonus. if you don't like it after a year, you can simply call them and downgrade to a lower tier Amex.
you really don't have to travel a lot either, since platinum gives you 5x points for each hotel stay & flight, plus up to $200 in airline fee reimbursements. take just one or two trips a year, and this will cut significantly into that $550.
additionally you get a $200 annual Uber credit (that can even be used for Uber Eats).
when you consider all of the benefits, even without much travel, the platinum card has basically the same annual cost as the gold premier rewards (in many cases it costs less).
