When I changed jobs at work and stopped travelling so much internationally on business, Qantas kept me on Platinum for two more years even though I only travelled on one sector in each of those years. Finally they downgraded me to Gold this year (with lifetime silver) so I feel they have looked after me quite well, and the 1,000,000 plus points I gained have been very valuable. The offer from Virgin however is too good not to take advantage of, so the application went in on Friday, and if approved I will have more options to choose from. Virgin seem to be on a roll at present, and Qantas all over the shop.
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