Negative Changes to AMEX Business Platinum 50% Points Back Perk!

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Negative Changes to AMEX Business Platinum 50% Points Back Perk!

Million Mile SecretsNegative Changes to AMEX Business Platinum 50% Points Back Perk!Million Mile Secrets Team

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Update:   One or more card offers in this post are no longer available.  Check our Hot Deals for the latest offers. 

Bad news for folks with the Business Platinum Card from American Express OPEN, or those considering the card.

Via The Points Guy, you will no longer get 50% of your points back on certain airfare you purchase through the AMEX travel portal.  You’ll only get 35% back!

AMEX Business Platinum Changes
This Is NOT Good News for Folks With the AMEX Business Platinum Card. I’ll Explain Why!

I’ll share more about this news.  And explain what it means for you.

AMEX Reduces Points Rebate for AMEX Business Platinum Card

Link:   The Business Platinum® Card from American Express OPEN

Link:   My Review of the AMEX Business Platinum Card

Last year, American Express announced that if you had the AMEX Business Platinum card, your AMEX Membership Rewards points would be effectively worth up to 2 cents per point.  Because when you redeemed them for certain tickets using Pay With Points through the AMEX travel portal, you would get 50% of your points back.

But as of June 1, 2017, you’ll only get 35% of your points back.  And you’ll only be able to redeem 500,000 AMEX Membership Rewards points per year and get the rebate.

That effectively makes your AMEX Membership Rewards points worth only ~1.54 cents per point.  

For example, say you find a ticket on the AMEX travel portal that costs $600.  That would cost 30,000 AMEX Membership Rewards points after 50% points back (60,000 points – 30,000 points).  For a value of 2 cents per point ($600 / 30,000).

When you only get 35% points back (60,000 X 35% = 21,000 points), that same ticket will cost 39,000 AMEX Membership Rewards points (60,000 points – 21,000 points).  For a value of ~1.54 cents per point ($600 / 39,000 points).

Plus, it will take 6 to 10 weeks for the rebate to post to your account, instead of the usual ~24 hours.

This is all around bad news, but things are always changing in the world of miles and points.  So I never suggest hoarding your rewards. 😉

That said, if you signed up for your card between October 6, 2016, and May 31, 2017, you’ll still receive the 50% rebate (with no maximum!) for one year from the date your card was issued.

Otherwise, you’ll need to purchase your flight before June 1, 2017, to get the 50% rebate.

Should You Still Consider the Card?

The AMEX Business Platinum card is still a great option, because you can get LOTS of Big Travel with the sign-up bonus alone.

AMEX Business Platinum Changes
75,000 AMEX Membership Rewards Points Is More Than Enough to Fly to Paris!

With the current sign-up bonus, you can earn up to 75,000 AMEX Membership Rewards points after meeting tiered minimum spending requirements.

You’ll also get perks like:

And you’ll be able to take advantage of the 50% points back perk until June 1, 2017.

With the new 35% points back rebate amount, the 75,000 point sign-up bonus will be worth ~$1,155 (~1.54 cents per point X 75,000 points) for ALL First Class or Business Class flights booked through the AMEX travel portal using Pay With Points.  And for all flights, including coach tickets, booked with your selected airline through the AMEX travel portal using Pay With Points.

That’s still a better rate than what folks get when they book paid travel through the Chase Ultimate Rewards travel portal.  But it’s not as exciting a perk as it used to be!

Bottom Line

Starting June 1, 2017, if you have the AMEX Business Platinum card, you will only get 35% of your points back when you redeem them for certain tickets using Pay With Points through the AMEX travel portal.

The old rate was 50% back.  And this perk hadn’t been around for very long.

That said, the AMEX Business Platinum card is still a good option, because it comes with a great sign-up bonus and perks!

What do you think about these changes?  Let me know in the comments!

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The Business Platinum® Card from American Express OPEN

The Business Platinum® Card from American Express OPEN

  • 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
Terms Apply | Rates & Fees

More Info

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I signed up for this card around May 21st, and I saw today that my bonus was reduced from 50% to 35%. I’ve opened up a case with AMEX, so hopefully this can be resolved. Anyone else experience anything similar?

i have been reading about this perk. i currently have amex platinum personal. Is it worth trying to switch it to business, if that can even be done? thanks!~

This promo is a joke with so many conditions. We tried to use this promo to book 8 first class tickets to Germany. We had to transfer miles from our black card bucket to the plat bucket and then the problems started. At the end of the day and about 2 weeks later we just bought the tickets using points dumped into delta miles one for one. The agent selling the plat program was not well trailed and made many mistakes misrepresenting the promo… Amex stepped up and made it right, refunded the $500 plat fee and told us to just keep the card, and then they added 100,000 miles to my account for the errors. This is on top of the 50,000 miles for spending 10 grand on the card in 90 days. Although we did not get half of 2.0 million miles back we did end up with about 200,000 free miles.

Wow that sounds like a mess! Glad to hear they at least tried to make things right. Thanks for sharing your experience.

I think the valuation of points is incorrect. Essentially all B class flights i targeted over a 1 month period through the AMEX portal ( or economy class flights) to Europe were either NOT AVAILABLE in all configurations (all dates and times) or SIGNIFICANTLY more expensive vis a vis booking directly with airlines or other sites, essentially nullifying the 50% bonus you are in theory getting. What i am trying to say is that you are either going to have to restrict your flight route (take more connections, later flights, early departures) or get lucky in order to book anything useful on AMEX site in order to get the 50% back. Might work for something like SW but not useful on international carriers.

Extremely disappointing in my eyes.

I agree, it’s disappointing news. And it’s certainly always worth comparing prices to make sure you’re getting the best deal.

Hey Tom, that’s the personal version of the card. This is a business platinum perk, and this card is still $450/year. (For now, anyway.)

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