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If you rent a desk in a WeWork coworking space, or are thinking about it, you can save over $2,000 opening The Business Platinum® Card from American Express. That’s because starting February 2019, the card will include 1 year of complimentary Platinum Global Access, which allows you to access WeWork offices all over the world.
Just book a desk through the app and show up, whether you’re in your home city or traveling.
AMEX values this benefit at $2,700. Plus, the welcome offer is worth ~$1,400 in free travel!
Even better, you can write off the card’s annual fee as a small business expense. So folks looking for a coworking space can do well opening this card.
Here’s why you might consider applying now!
The AMEX Business Platinum Card Is Your Key to Unlimited WeWork Desks Around the World
Read our review of the AMEX Business Platinum
Right now, you can open the AMEX Business Platinum card and earn:
- 50,000 AMEX Membership Rewards points after you spend $10,000 on purchases in the first 3 months of account opening.
- 25,000 AMEX Membership Rewards points after you spend an additional $10,000 on qualifying purchases within the same timeframe
This card comes with a slew of benefits including:
- 1.5X AMEX Membership Rewards points on single purchases of $5,000+ (up to 1 million additional points per calendar year)
- 5X AMEX Membership Rewards points when you book airfare and hotels through the AMEX travel portal
- 35% of your points back for ALL First Class or Business Class flights booked through the AMEX travel portal using Pay With Points
- 35% of your points back for all flights, including coach tickets, booked with your selected airline through the AMEX travel portal using Pay With Points (up to 500,000 points per calendar year)
- Up to $200 in statement credits per calendar year for airline incidentals with your selected airline (luggage fees, in-flight food & drink, etc.)
- Ability to book hotel stays through AMEX Fine Hotels & Resorts
- Access to airport lounges (Delta, Priority Pass, Airspace, and American Express Centurion Lounges)
- Bonus points or statement credits when taking advantage of an AMEX Offer
- Elite car rental status with Avis, Executive status with National Car Rental, and Gold Plus Rewards with Hertz
- Free Hilton Honors Gold elite status (free breakfast and upgrades when available)
- Free Starwood / Marriott Gold elite status
- 10 free Gogo in-flight Wi-Fi passes each calendar year
- Statement credit for Global Entry or TSA PreCheck
- Terms & limitations apply
Right now, the annual fee is $450 per year. But for applications received starting January 2019, you’ll pay $595 per year. That’s because AMEX is adding benefits which start in February 2019, including:
- Complimentary access to WeWork for 1 year (valued at $2,700)
- Statement credits up to $200 toward Dell purchases
- Increased Hotel Collection hotel credit of $100 (up from $75)
So you can open the card now and save $145 on the annual fee and still make the most of the new perks in 2019. Either way, you’ll save over $2,000 next year on a WeWork coworking space.
Not to mention the welcome bonus is worth worth nearly $1,400 worth of airfare by using the Pay With Points rebate benefit!
Remember, you can apply using just your social security number. Plus, AMEX does NOT have strict income requirements for small business cards.
What Comes With WeWork Platinum Global Access?
WeWork spaces have a long list of standard amenities you’ll find at 300+ locations in ~75 cities around the world.
You’ll get a hot desk and plenty of community spaces. You can book a conference room if one’s available, and pay extra for mail and package handling.
A hot desk is a workspace you can book via the WeWork app or website, where you can plug-in and get things done on demand.
A monthly hot desk near me costs ~$400, depending which location I choose. That’s ~$4,800 a year. Or I could book a desk on demand whenever I want to get work done in any WeWork city.
If you’re considering a coworking space for the amenities, because you gain focus in dedicated spaces, or want a professional place for meetings and conferences, you could save a LOT just by paying the annual fee on the AMEX Business Platinum card instead of paying the normal monthly rate.
Write Off the Annual Fee, Whether You Apply Now or Later
Though the annual fee on the AMEX Business Platinum card is increasing for applications after January 2019, you can claim it as a business expense when you file your small business taxes.
That’s if you legitimately use the card perks to further your business interests. And if you travel a lot, having airport lounge access and $200 in airline incidental credits are added bonuses.
You could apply in December 2018 to lock-in the lower $450 fee. Or wait until 2019 when it rises to $595 to take full advantage of WeWork coworking access for 1 year.
With both options, you’ll save well over $2,000 per year if your goal is having a coworking space. Team member Emily uses a coworking desk in downtown Austin and loves the access to printers, fresh coffee, and fast Wi-Fi.
Of course, we aren’t tax professionals here at MMS so always consult a tax advisor before you claim deductions. But in my experience, if you purchase something to grow your business, you can claim it on your taxes – and this expense is definitely within reason.
There’s a lot to like about upcoming changes to the AMEX Business Platinum card, especially if you’re looking to rent a coworking space. AMEX values a WeWork Platinum Global Access membership at $2,700. And when I checked, a yearly desk rental in my city was closer to $5,000! So the value you get depends which market you’re in.
WeWork access will be a new card benefit beginning February 2019. And the annual fee increases to $595 for applications starting January 2019. Until then, it’s $450 through the end of 2018. So you might apply now to lock-in the lower fee, or wait until later to make full use of a WeWork membership. Whichever you choose, you’ll save $2,000+ on hot desks, and other standard amenities of WeWork spaces.
Plus, the welcome bonus alone is worth nearly $1,400 worth of airfare!
You should be able to write off the annual fee no matter when you apply. As always, consult your accountant. But reasonable business expenses are usually tax deductible.
Let us know what you think of this upcoming new benefit!