So I logged into my Amex account yesterday just to check if there was any activity (I check all my cards manually at least once a month), and I was greeted with a "You are pre qualified to apply for an Amex Platinum!"
Now, I don't need another card at all, much less one with a $550 annual fee, but it feels good to be getting offers for true top tier cards now.
The sub was nice, too... IF one is a frequent traveler. I fly two, maybe three times per year max, so there's no way I'd ever get my money's worth for the annual fee.
At least I'm still moving forward in the credit world. 
Didn't know that you get get one with a score in the 600's. I certainly have never had it show up in the prequal section before. I haven't had a thin profile for probably three years.
I would think that any bank that thinks their card is worth a $550 annual fee would consider it "exclusive" in some way.
First of all, I'm glad this gave you a good feeling
But second, it is top tier in terms of travel rewards for people who fit a profile; it is not top tier in terms of difficulty qualifying for it.
As far as "status," that is a matter of perception, and varies from one person to the next, but I will say, being perceived as willing to pay a $550 annual fee (even people who don't study this stuff know it's a large fee) implies affluence, so that could make it "top tier" for some people or situations.
I suggest looking closely at the available statement credits and deciding if they fit your lifestyle. It helps if you use Uber a lot, for example.
For me, I don't think it fits my spend. Even though I would get a $150 statement credit through the CAP program to effectively reduce AF from $550 to $400, I can't cobble together in my mind or on scrap paper enough value to be worth it, at this time. That said, it's possible it could recoup its value very quickly; for example, you could get a room upgrade at Hilton or Marriott due to the status the card confers that would be worth more than the annual fee. But it's situational (you would need to value Hilton/Marriott room upgrades as much as you value the cash value, for one thing, and then, you'd be gambling that you got the upgrade).
@KJinNC wrote:First of all, I'm glad this gave you a good feeling
But second, it is top tier in terms of travel rewards for people who fit a profile; it is not top tier in terms of difficulty qualifying for it.
As far as "status," that is a matter of perception, and varies from one person to the next, but I will say, being perceived as willing to pay a $550 annual fee (even people who don't study this stuff know it's a large fee) implies affluence, so that could make it "top tier" for some people or situations.
I suggest looking closely at the available statement credits and deciding if they fit your lifestyle. It helps if you use Uber a lot, for example.
For me, I don't think it fits my spend. Even though I would get a $150 statement credit through the CAP program to effectively reduce AF from $550 to $400, I can't cobble together in my mind or on scrap paper enough value to be worth it, at this time. That said, it's possible it could recoup its value very quickly; for example, you could get a room upgrade at Hilton or Marriott due to the status the card confers that would be worth more than the annual fee. But it's situational (you would need to value Hilton/Marriott room upgrades as much as you value the cash value, for one thing, and then, you'd be gambling that you got the upgrade).
I'm not even close to considering takeing the offer. I did the same calculations you described. I have very little use for travel cards in general because I'm not a frequent traveler. I fly at most three times a year, more often its once a year. Since I live in a city that's a Southwest hub, I highly doubt any flights I'd book through their service (assuming SW is even an option) would be cheaper than booking directly with SW. Again, being in a SW hub, that's who I fly 95% of the time, and no baggage fees, so there's a perk I wouldn't use either. I rarely stay at any of those partner properties, so there's another perk I'd never take advantage of. I already get TSA Pre credit from my Venture card, but that's something you can only take advantage of once every five years.
The only reason I have the Venture is because I'm grandfathered in with the lower AF. I put all my non-category spend on it because its 2x miles, and that's enough to cover a round trip ticket to just about anywhere I care to go, meaning me an my wife generally fly for half price when all is said and done.
I'll go with the idea that somebody thinks I'm affluent enough to want to pay a $550 AF and continue to feel good about that. lol Although I'm not ashamed to let anyone know that I'll take the cheapest non-stop flight I can find and stay at the cheapest (but clean/safe) hotel I can find when I get there. 