In July, American Express revamped its Consumer Platinum Card, and now it’s the turn of small business owners. Starting October 13, Amex Business Platinum Card users will be eligible for hundreds of dollars annually in new perks and an increased rewards rate on certain spends. The card’s annual fee will also increase, but cardholders who can maximize the new benefits should get more than enough value to make up for it.
- American Express made significant changes to its Business Platinum card just a few months after making similar improvements to the consumer version of the card.
- While the new benefits won’t work for all small business owners, it is possible to get more value out of the card’s benefits alone than the cost of the annual fee.
- The annual fee will increase to $695.
- Cardholders will still get the same premium travel facilities that the card has offered so far.
The New Business Platinum Card Expands Its Suite of Perks to Appeal to More Business Owners
The American Express Business Platinum Card has long been a premium travel credit card for small business owners. But in recent years, the card issuer has added more business-specific perks. For example, in 2018, it added annual credit for a year on Dell purchases and Platinum Global Access with WeWork. This increased the annual fee from $450 to $595.
Now, Amex has added even more perks to suit specific business needs, and it’s raising the annual fee again, this time to $695.
What new and existing Business Platinum cardholders will now get with the annual fee hike:
- 1.5 points per dollar on purchases of up to $2 million each calendar year at electronics goods retailers, software, and cloud service providers, building materials and hardware supplies, and shipping providers.
- Up to $400 in annual statement credits on all Dell purchases, half-yearly up to $200. This is a $200 increase from the current Dell benefits on the card.
- Up to $360 in annual statement credits, up to $90 per quarter, on all products and services actually hiring and recruiting.
- $150 annual statement credit on select purchases including Adobe Creative Cloud and Acrobat Pro DC with eSign.
- Up to $120 in annual statement credits, up to $10 per month, for purchases made directly from any US wireless telephone provider.
- An annual $179 statement credit toward a Clear membership for expedited airport security checks.
- Get 20% off on Wheels Up Connect and 40% off on Wheels Up Core membership. Plus, a $500 or $2,000 credit is added to your Wheels Up account to use for the initial flight within the first year, depending on the Wheels Up subscription you choose.
- Membership in the new Global Dining Access program by Resy, which gives cardholders exclusive reservations at some of the world’s top restaurants, access to premium events, and other perks such as priority notification and VIP status.
The new annual fee will be effective from January 13, 2022 for both new and existing cardholders. Depending on how you use the card, you can easily offset the increased annual fee. But like any credit card, it’s important to consider your spending habits and whether it’s right for you to determine if you’ll really reap the benefits.