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

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

Joseph HostetlerBig Changes Coming to AMEX Business Platinum – Annual Fee Shoots Up, but Adds Perks Potentially Worth Thousands (Great for Freelancers)Million Mile Secrets Team

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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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The Business Platinum® Card from American Express

The Business Platinum® Card from American Express

  • Welcome Offer: Earn up to 75,000 Membership Rewards® points.
  • Earn 50,000 Membership Rewards® points after you spend $10,000 and an extra 25,000 points after you spend an additional $10,000 all on qualifying purchases within your first 3 months of Card Membership.†
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
  • You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.
  • You can enjoy access to The American Express Global Lounge Collection℠ offering access to the most lounges across the globe, when compared with other U.S. credit card offerings. As of 11/2017
  • Terms Apply
  • See Rates & Fees

More Info

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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How does it compare to the AMEX Blue Business Plus. In that does it make it worth getting?

I’m a huge fan of the card. You earn 2x membership rewards points per $1 spent on purchases, which to me is essentially 4% back on all purchases because I value AMEX points at 2 cents per point.

AMEX MR points are flexible, just like Chase Ultimate Rewards too, so you can get a ton of value by transferring to airline partners.

These new benefits are worth $0 to me. Cancelling this card.

I’m with you! I wouldn’t use the WeWork membership, nor do I really buy anything from Dell.

It really does seem like with WeWork, they’re really trying to cater to business owners here.