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The Business Platinum® Card from American Express adds benefits, ups annual fee

Summary

AmEx has launched several changes to The Business Platinum® Card from American Express, including free access to WeWork, an annual Dell credit and an increased hotel credit.

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AmEx has implemented several changes to the Business Platinum® Card from American Express. Effective Feb. 1, 2019, the updates include complimentary WeWorks access, an annual Dell statement credit, a $100 annual hotel credit and an increased annual fee.

See the updates at a glance:

  • Platinum Global Access – Cardholders who enroll between Feb. 15 and Dec. 31, 2019, will receive free access to WeWork, a global network of workspaces, for a year.
  • Up to $200 in Dell statement credits – Receive up to $100 in statement credits between January and June and up to $100 in statement credits between July and December every year for U.S. Dell purchases.
  • Increased hotel credit – The hotel credit for Hotel Collection stays has increased from $75 to $100. The boost applies to reservations made after January 2019.
  • Higher annual fee – The annual fee has increased from $450 to $595.
The Business Platinum® Card from American Express
Rewards rate

  • 5 points per dollar on flights and prepaid hotels on amextravel.com
  • 2 points per dollar on travel purchased through the American Express website
  • 1.5 points per dollar on qualifying purchases of $5,000 or more
  • 1 point per dollar on general purchases
Introductory bonus

  • 50,000 points when you spend $10,000 in the first 3 months
  • Another 50,000 points when you spend an additional $15,000 in the first 3 months
  • Terms apply

Why use it?
If you are a business owner who spends a large amount on business travel, you can benefit from the Business Platinum card’s generous rewards rate and 100,000-point bonus. Additionally, the card’s travel credits and luxury travel perks help compensate for the high annual fee. Read review
Estimated Yearly Rewards Value ($4,000 monthly spend)
$2,277
Annual Fee
$595

Ongoing card benefits

In addition to the WeWork and Dell benefits, cardholders will continue to receive the following perks:

  • $200 airline fee credit – Get up to $200 in statement credits for incidentals, such as checked bags fees and inflight refreshment charges, per calendar year.
  • Global Entry/TSA Precheck credit – Cardholders can receive one $100 statement credit for Global Entry or one $85 statement credit for TSA Precheck every four years.
  • No foreign transaction fees – You will not incur additional fees for purchases made outside of the U.S.
  • Gold status – Cardholders receive complimentary Hilton Honors Gold status and Marriott Bonvoy Gold status.

Is it worth it?

While the new perks add more value to the Business Platinum card, they also come at a price. American Express has upped the annual fee for the Business Platinum card to $595 – $145 higher than the card’s current fee. The increased annual fee goes into effect for new cardholders on Feb. 1, while existing cardholders will begin paying the higher fee on their first card renewal date on or after February 2019.

That said – for business owners who rent shared workspaces or use Dell products – the value of the Business Platinum card’s added benefits far outweighs the expensive annual fee. According to American Express, the Platinum Global Access benefit is worth $2,700. Once you combine that with the Dell statement credits and increased hotel credit, you can potentially squeeze $2,925 from the new benefits in one year alone.

See related: Earn up to 100K bonus points with the Business Platinum Card from American Express, American Express launches the new American Express Business Gold Card

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Published: December 1, 2018

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