American Express Announces Changes and Higher Fee for Business Platinum Card
There are only a few days before the increase in annual fee kicks in. If you had your eye on this card then it may be worth locking in the lower fee and applying now. The increase would not hit your account until 2020 then. Also remember that Amex has been denying bonuses without warning lately.
American Express announced today some upgrades (or downgrades depending how you see it) and changes that are coming in 2019 for Business Platinum card Members. Updates to the Business Platinum Card include a suite of solutions to improve productivity and an updated rewards structure that benefits business travelers. But there’s also a substantial annual fee increase.
- One year of complimentary Platinum Global Access from WeWork, a network of premium workspaces around the world. With Platinum Global Access, enjoy over 300 workspaces in 75+ cities and 20+ countries, valued at $2,700. You’ll receive more information in February 2019 about the offer and how to enroll.
- New Centurion® Lounge locations in New York JFK, Los Angeles, and Denver airports, and the expansion of The Centurion Lounge in Miami. More value for your business and travel purchases
- Up to $200 in statement credits annually for U.S. purchases with Dell on your Business Platinum Card. You’ll receive more information about how to enroll in the new Shop Dell with Business Platinum benefit in February 2019.
- $100 hotel credit on qualifying charges at hundreds of properties in The Hotel Collection (increased from $75) for new reservations made after January 1, 2019 when you book through Amex Travel.
Card Members will receive more information about these benefits in February 2019.
Along with these changes, the annual membership fee for Business Platinum will be $595. This fee increase will not take effect until your next membership renewal date on or after your February 2019 billing cycle.
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There’s a few improvements here such as the Dell credit and the small increase in hotel credit. There’s also the complimentary Platinum Global Access from WeWork, which could be great value for some. But there’s also a big increase in the annual fee, from $450 to $595. You could argue that the Dell credit alone will make up for that increase, but that would require you to purchase something at Dell. Hopefully that credit can be used up all at once, instead of what we’ve seen for Saks Fifth Avenue or even worse, Uber. Then it would be useless.
I think most people would find these changes somewhere between negative and neutral. But let us know what you think in the comments.
If you want the American Express Business Platinum card then now is a good time to get it. You get the lower fee still, and you should be able to use annual credits three times, while only paying the annual fee once.