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If you’re thinking about getting the Business Platinum® Card from American Express, you might want to do it soon. No, this card isn’t going away. But, it’s annual fee increases in February when it begins offering new card benefits.
While we never like to see an annual fee increase, American Express is offering more card benefits to offset the rate hike. If this card is on your shortlist, being proactive and applying now can save you $145.
Annual Fee Increases to $595
Let’s get the bad news out of the way first. The Business Platinum is following suit with the personal Platinum Card from American Express that raised its fee to $550 in 2017 when it underwent benefit enhancements.
Until February 2019, the Business Platinum annual fee . After this date, the annual fee increases to $595 for new applicants. Existing cardholders will pay the higher annual fee when their card renews on or after February 2019.
Applying for the Business Platinum now can save you $145. Plus, the benefit upgrades are less than two months away. You can essentially get the new benefits “for free” when you apply before the rate hike.
As always, you won’t pay a foreign transaction fee on any international purchase.
Two New Business Platinum Card Benefits
The $145 annual fee increase is quite a jump for some people. But, maybe these additional benefits can convince you to keep your Business Platinum. Two new benefits start February 2019.
As the upgrades rollout, American Express will release more benefit details. Also, Fine Hotels and Resort $75 on-site credit is now worth $100.
Platinum Global Access from WeWork
More business people find themselves traveling. Instead of trying to work from your hotel room or a local coffee shop, you might find the confines of more accommodating.
Shared workspaces are a growing trend. Starting in February 2019, all Business Platinum cardholders get one year of complimentary Platinum Global Access to WeWork locations. American Express values this new benefit at $2,700 per year.
You have access to the entire WeWork global network of 335 workplaces in 83 cities spread across 24 countries. These workspaces come with wifi, pantry, and onsite staff.
More details will be released about this new benefit in the coming months.
$200 Statement Credit with Dell
If you enjoy using Dell laptops and equipment, you will now get a $200 statement credit. To redeem the credit, you must purchase directly from Dell. This credit alone exceeds the value of the annual fee increase.
This new benefit is called “Shop Dell with Business Platinum.”
Shop with Dell can be similar to one of the newest Amex Platinum benefits, a $100 Saks Fifth Avenue shopping credit. Amex divides this credit into two $50 statement credits to shop at Saks in the first and second half of the year.
$100 Fine Hotels & Resort Collection Credit
One current card benefit being enhanced is the $75 Fine Hotels and Resorts Collection credit. You don’t have to wait until February to take advantage of this credit boost. It’s already in effect with the Business Platinum® Card from American Express.
Your $100 credit can offset amenities include food, beverage, or one-way private sedan transfers.
Benefits That Aren’t Going Away from the Business Platinum® Card from American Express
While some credit cards have reduced their card benefits in 2018, the remaining Business Platinum Card benefits remain intact. These are some of the benefits you will continue to enjoy.
5x Membership Rewards Points on Airfare and Hotels
You earn 5 Membership Rewards points per $1 spent on airfare and hotels booked through Amex Travel. This is one of the highest reward rates you’ll earn from a flexible travel rewards credit card.
When you make large purchases of at least $5,000, you also earn 1.5 points per $1 spent instead of the base award rate of 1 point per $1.
Flexible Point Options
You can also transfer these points on a 1:1 basis to many of the largest airline loyalty programs. Some of these programs include Delta Airlines, Emirates, Avianca LifeMiles, and JetBlue.
You might also find a better deal redeeming your miles for award flights on Amex Travel. You get a 35% redemption bonus (up to 500,000 points annually) when you book first class and business class award flights. Since premium cabin flights usually have a better redemption value, point transfers should still be your first choice.
But, this is a good way to maximize your points when award flights aren’t available or if you fly an airline that isn’t a Membership Rewards transfer partner.
$200 Airline Fee Credit
Each year, American Express covers the first $200 in baggage fees and in-flight purchases for the airline of your choice.
Global Lounge Collection Access
Air travelers wanting to live the lifestyle of the rich and famous will also enjoy the free airport lounge access. As a Business Platinum® Card from American Express cardholder, you have access to several lounge networks including:
- The Centurion
- International American Express
- Priority Pass
- Delta SkyClub
New lounge locations will continue to open throughout 2019, so you will have more places to relax when waiting to catch your next flight.
Global Entry or TSA PreCheck Application Fee Reimbursement
Your application fee for Global Entry or TSA PreCheck is also reimbursed each time you apply for clearance. This is one benefit of the Business Platinum® Card from American Express that you’ll appreciate if you travel often for business.
Accelerated Hotel Loyalty Status
You can also get automatic Starwood Gold Elite status and Hilton Honors Gold Status. Benefits include space-available room upgrades, point earning bonuses, and other on-site perks.
Alternatives to the American Express Business Platinum
Don’t feel like you will get enough mileage from the upcoming benefits to justify the fee hike? What makes the Business Platinum® Card from American Express unique is that it’s a premium business rewards card. Most business credit cards charge an annual fee of $100 or less but don’t offer the same level of benefits.
For that reason alone, you might decide to go with the Business Platinum. Or, you can try one of these cards instead.
American Express Business Gold Card
The Business Gold Card lets you earn 4x Membership Rewards points on two categories of your choice. You also get a 25% airline redemption bonus and can still transfer your points.
New cardholders can also get up to 1 year free of G Suite Basic and ZipRecruiter. The annual fee is only $295.
Chase Ink Business Preferred
You might decide to switch credit card rewards programs altogether. The Chase Ink Business Preferred earns up to 3 points per $1 on travel and business purchases. It also has 1:1 transfer partners. Many partners overlap with Membership Rewards. You also have exclusive access to United Airlines and Southwest Airlines too.
Summary the Business Platinum® Card from American Express Changes
Here’s a quick summary. Beginning February 2019, the American Express Business Platinum offers two new benefits: WeWork access and a $200 Dell shopping statement credit. But, the annual fee also increases from $450 to $595. If you apply for the Business Platinum before the annual fee increases, you pay $450 for the first year and $595 when it’s time to renew your membership.
Link to apply: Business Platinum® Card from American Express
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