Amex Business Platinum Changes: New Benefits, $695 Annual Fee

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Major changes are coming to the Amex Business Platinum. This is a reminder that the card's annual fee will be increasing as of January 13, 2022, so this is your last chance to apply with the old annual fee. You can get new perks and pay a lower annual fee, which is a great opportunity. The original post was published on October 15, 2021.

The Business Platinum Card from American Express underwent a refresh over the summer and is seeing some significant changes as well. The card is getting a lot of new credits and a new spending bonus category, but the annual fee is going up. Let's look at the details.

The annual fee for Amex Business Platinum is increasing.

The bad news should be the first thing we discuss. The annual fee on the Amex Business Platinum will be increasing by $100. January 13, 2022, is when this change kicks in for both new and existing cardmembers.

It's not a good idea to have an annual fee hike, but at least you could still get the new benefits, and pay the lower fee for a year. The card is getting new benefits that should benefit card members.

New perks for Amex Business Platinum.

The Amex Business Platinum is adding up to $830 in new credits annually with the annual fee increasing by $100. The card is giving credits to businesses.

The card will offer a $400 annual statement credit on all Dell purchases, up to $200 semi-annually, an increase of $200 compared to the previous Dell statement credit offered by the card.
The Indeed card will give up to $360 in annual statement credits on all Indeed hiring and recruiting products and services to post open positions and find talent.
The card will give up to $150 in annual statement credits for Adobe purchases, including Adobe Creative Cloud and Acrobat Pro DC with e-sign.
The card will give up to $120 in annual wireless credits, in the form of a $10 monthly statement credit, towards purchases made directly from any US wireless telephone provider.

The card offers a number of credits, including an annual airline fee credit of up to $200, a CLEAR credit of up to $179 per year, and a Global Entry or TSA Pre-Check credit once every four years. You will need to enroll to use these credits.

Amex Business Platinum has a new spending bonus.

The Amex Business Platinum is getting a new bonus category. The card will offer 1.5x Membership Rewards across the following business categories.

Retailers, software, and cloud service providers.
Hardware and construction materials.
Shipping providers.

The card already has 1.5x Membership Rewards points on large purchases of over $5,000. The 1.5x earning is limited to the first $2 million spent each year, which limits your bonus earning in these categories to one million Membership rewards points.

This is a great time to apply for the Amex Business Platinum.

This is a good time to apply for the Amex Business Platinum if you haven't already. If you apply now, you can take advantage of the new perks, while paying a lower annual fee.

The card is giving a bonus of 120,000 Membership rewards points after spending $15,000 in the first three months. Membership rewards points are worth $2,040, so I value them at 1.7 cents each.

The card is offering a zero introductory rate for 12 months on purchases eligible for pay over time.

My take on Amex Business Platinum has changed.

The changes to the business version of the card are similar to the changes to the personal version of the card. The Amex Platinum is turning into a coupon book, but the math checks out.

Here is my take on the new benefits.

I wouldn't buy stuff from Dell, but the reality is that the company sells all kinds of products from other companies, and I have gotten pretty good value out of my Dell credits.
I prefer the Ink Business Preferred Credit Card for its cell phone protection and bonus points, as the $120 wireless statement credit is better than nothing.
I don't place much value on the Indeed and Adobe credits, but I'm sure some others do.
There are still better cards for everyday spending despite the new bonus categories.

The bottom line.

The Amex Business Platinum is changing. The card will be getting new benefits as well as increasing its annual fee. There is a new bonus category for business spending.

I think the math continues to check out the direction that the Amex Platinum has gone in.

What do you think about the changes to the Amex Business Platinum? Will they affect your decision to have the card?

The rates and fees for American Express cards can be found in the following links. The Business Platinum Card from American Express has rates and fees.