Thanks. Does anyone know if there are any dps in regards to claw-backs for downgrading (not canceling) a card after utilizing the travel credit for that year (after the first year)?
I don't think so, and it would not make sense for them to do so. Because when you downgrade your annual fee will be prorated for the amount of days you had your platinum, so you technically paid for the right to use the credit during that period.
That being said, this is AMEX, so anything is possible.