Big Changes Coming to AMEX Business Platinum – Annual Fee Shoots Up, but Adds Perks Potentially Worth Thousands (Great for Freelancers)

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AMEX Membership Rewards points are extremely valuable, especially for folks looking to save money on travel!  And one of the absolute best ways to earn these points is by opening The Business Platinum® Card from American Express.  The points you can earn from its current welcome offer can easily get you nearly $1,400 worth of airfare (and potentially MUCH more)!

However, the card’s annual fee is soon raising to $595 (owie!).  But AMEX is adding an estimated $2,900+ of value to the card.  Including better hotel discounts and hundreds of dollars each year toward Dell purchases.

That makes the AMEX Business Platinum sound like even more of a no-brainer than before.  But not everyone will love these changes because the perks are very specific and we don’t know all the details yet!

Also, most of these additional benefits aren’t travel related.  So if you’ve been thinking of applying for the card because you love those perks, you’ll be better off applying before the annual fee goes up.

If You Value a Shared Workspace Membership, the American Express Business Platinum Is Up Your Alley

Here’s what you need to know.

America Express Business Platinum Changes

The AMEX Business Platinum currently has a $450 annual fee.  But beginning February 2019, that will raise by $145 to $595 per year!

That’s a higher fee than nearly all other miles & points credit cards.  And high enough to put plenty of folks off!  But AMEX is adding new perks in an attempt to sweeten the deal.  You’ll get:

  • 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)

Unfortunately, we don’t know what is happening to the AMEX Business Platinum welcome bonus.  AMEX removed the intro bonus for the American Express® Business Gold Card in favor of non-travel perks (G-suite and Zip-recruiter benefits).  So hopefully they same doesn’t happen with the AMEX Business Platinum card.

It currently has a great bonus.  You’ll receive up to 75,000 AMEX Membership Rewards points after meeting tiered minimum spending requirements.  That’s enough points for a round-trip Business Class flight between Chicago and Madrid (with lie-flat seats) if you transfer them to Iberia!

Are These Changes Good?

Nobody likes increased annual fees.  But if you would use these new perks, this can be a better deal.

WeWork has shared spaces all over the world that gives folks a place to meet and work without committing to rental property.  If you can make full use of the 1 free year, AMEX estimates you’ll save $2,700.  Team member Jason has been looking for a co-working space and this added perk would be a HUGE savings for him.  He’s going to wait and see if the card will still have a hefty intro bonus once this benefit is added; if it does, then he plans on applying for the card.

And the $200 Dell statement credit sounds easy enough to use, and a big help in effectively reducing the card’s annual fee.  But only if you would spend $200 with Dell anyway.  Don’t open the card with the mindset of spending $200 at Dell that you otherwise wouldn’t have.

The increased $100 Hotel Collection credit will take effect for any reservations you make after January 2019.

If you’re a small business owner, these new credits could be ultra helpful.  But if you prefer travel perks, you’re likely better off applying before the annual fee increases.

Again, all these changes will begin February 2019.  If you open or renew your AMEX Business Platinum after January, 2019, you’ll pay a higher fee.

Let us know what you think!

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Joseph Hostetler is a full-time writer for Million Mile Secrets, covering miles and points tips and tricks, as well as helpful travel-related news and deals. He has also authored and edited for The Points Guy.

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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