Amex Business Platinum: New Benefits, $ 695 Fee
Over the summer, the American Express Platinum Card® (review) has undergone a refresh, and now the American Express Business Platinum Card® (review) is undergoing significant changes as well. The card receives a lot of new credits and a new category of spending bonus, but the annual fee is also increasing. Let’s take a look at the details.
Amex Business Platinum annual fee drops from $ 595 to $ 695
Let’s start with the bad news. The annual fee for the Amex Business Platinum will increase by $ 100, from $ 595 to $ 695 (Prices and fees). This change will come into effect on January 13, 2022, for both new and old cardholders.
Of course, no one likes an increase in annual fees, although on the bright side at least, you can still withdraw the card and get the new benefits, while at least paying the lower annual fee for a year. In addition to this, the card has significant new benefits that cardholders should enjoy.
New Amex Business Platinum benefits
With the annual fee increasing by $ 100, the Amex Business Platinum also adds up to $ 830 in new credits each year. More specifically, the card collects credits from the following companies:
- Dell Technologies – the card will provide an annual credit of $ 400 on all Dell purchases, up to $ 200 semi-annually; this is an increase of $ 200 over the previous Dell statement credit offered by the card
- In fact, the card will offer up to $ 360 in annual statement credits on all of Indeed’s hiring and recruiting products and services for posting vacancies and finding talent, up to $ 90 per quarter.
- Adobe – the card will offer up to $ 150 in annual statement credits for Adobe purchases including Adobe Creative Cloud and Acrobat Pro DC with e-sign
- Wireless Credit – the card will offer up to $ 120 in annual wireless credits, in the form of a $ 10 monthly statement credit for purchases made directly from any US wireless carrier
This is in addition to any existing credits offered by the card, including an annual airfare credit of up to $ 200, a CLEAR credit of up to $ 179 per year, and a Global Entry or TSA Pre credit. -Check once every four years. Remember that you will need to register to activate these credits before using them.
Amex Business Platinum New Spend Bonus
The Amex Business Platinum also benefits from a new category of bonus for spending. Specifically, the card will offer 1.5 times membership rewards in the following commercial categories:
- Electronic products, retailers, software and cloud service providers
- Building materials and hardware supplies
- Shipping providers
This is in addition to the card already offering 1.5 times Membership Rewards points on large purchases over $ 5,000. Total combined spending on 1.5 times earnings is limited to the first $ 2 million spent each calendar year, which limits your bonus earnings in those categories to one million Membership Rewards points.
Now is the perfect time to apply for the Amex Business Platinum
If you don’t already have the Amex Business Platinum, now is a great time to apply for the card. If you apply now, you can take advantage of the new benefits, while paying the lower annual fee for one year.
On top of that, the card offers an enhanced publicly available welcome bonus of 120,000 Membership Rewards points after spending $ 15,000 in the first three months. Personally, I rate Membership Rewards points at 1.7 cents each, so for me those points are worth $ 2,040.
The card also offers an introductory APR of 0% for 12 months from the date you open the account on purchases eligible for payment over time.
My take on the changes to Amex Business Platinum
My feelings about the changes to the professional version of the map are similar to those we felt when we saw changes to the personal version of the map. Yes, the Amex Platinum basically turns into a sort of coupon book, but the math is checked, if you ask me.
Here is my take on the new benefits:
- While I wouldn’t buy products from Dell any other way, the reality is that the company sells all kinds of products from other companies, and I got very good value from my Dell credits; if anything, a $ 200 credit every six months is even better to be able to make larger purchases
- The $ 120 credit on the wireless statement is better than nothing, although I generally prefer to use the Ink Business Preferred® (exam) credit card for this, given the cell phone protection and bonus points offered by the menu.
- Personally, I don’t give much importance to Indeed and Adobe credits, but I’m sure others do.
- New spending bonus categories are better than nothing, although there are still better cards for daily spending.
At the end of the line
The Amex Business Platinum is undergoing major changes. The annual card fee will increase by $ 100, although the card will also receive new benefits. This includes up to $ 830 in additional annual credits, as well as a new category of bonus for business expenses.
While I find the direction taken by the Amex Platinum a bit unusual, I think the math continues to check.
What do you think of the changes to the Amex Business Platinum? Will they have an impact on whether or not you choose to have the card?
The following links will direct you to the rates and fees for the mentioned American Express cards. These include: The Business Platinum® card from American Express (Prices and fees).