Update: This has been updated to 9:59pm EST on 1/31 to apply and lock in the lower annual fee for this year before it increases from $450 to $595!
DansDeals will receive compensation if you are approved for a credit card via a link in this post.
If you apply for it by tomorrow at 9:59pm EST your first annual fee will be $450. If you apply after that the new annual fee of $595 will apply right away.
Card renewals starting next month will be at the $595 rate.
That’s a high price to pay, but here’s what you get for that:
The AMEX Business Platinum Card offers 50K bonus points for spending $10K and another 25K bonus points for spending another $10K within 3 months. The bonus is available if you haven’t had this card before.
Airline fee credits:
In your first cardmembership you can get a $200 credit in 2019 and a $200 credit in 2020.
You need to register with a specific airline before spending. After you register for an airline you can officially only change your airline in January. However if you haven’t yet used your credit that year you should be able to change it by calling or chatting with AMEX.
Note that the airline you choose will also be the airline that you get back 35% of your points back when redeeming for coach travel. You may want to hold off on spending the $200 until the end of the year if you want to be able to change the airline more easily during the year. You also get back 35% of your points on all airlines in business and first class redemptions without having to register for an airline.
New benefits include:
- 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.
- 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.
- $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.
“Hybrid Points” and the 35% points rebate:
The Business Platinum card allows you to choose whether to transfer points into airline miles when tickets are expensive.
You can transfer points to airlines like ANA, Air Canada, Avianca, or Singapore for Star Alliance travel. Points transfer to Aeromexico, Alitalia, Air France/KLM, or Delta for Skyteam travel. Transfer to BA, Cathay Pacific, or Iberia for OneWorld travel. Other transfer options include El Al, Emirates, Etihad, Hawaiian, JetBlue, or Virgin Atlantic. This can make sense for one-way, last-minute, or premium class travel. The value with airline miles can be under a cent each if used poorly, but properly used the points can be worth 5 cents, 10 cents, 15 cents, or even more per point, the sky is the limit.
Otherwise you can choose to use them for paid tickets when tickets are less expensive at an 1.54 cents (or higher) value per point. In other words if you want to book a $500 flight you’ll use 50,000 points, but AMEX will give you a 35% rebate, so you’ll get back 17,500 points in coach on the airline of your choice or in business/first class on all airlines. When you use them for paid tickets you don’t pay any taxes and you still earn miles for the flight!
You can get up to 500K rebated points per account and if you’re a big spender on the card you’ll get offers for additional rebates.
AMEX also offers insider fares on select routes that can make your points be worth much more!
You can login to your account and redeem AMEX points for travel here. If you want to redeem for travel on Southwest then you’ll need to call AMEX to book.
This hybrid redemption ability makes your points very valuable as they can be used for mileage transfers or paid flights.
When you combine the card with other AMEX cards you can make your spending even more lucrative.
50% bonus points+Supercharge your spending:
-If you spend more than $5,000 on the Business Platinum card you’ll also get 1.5 points per dollar.
You can also earn 5 Membership Rewards points per dollar on flights and prepaid hotels on amextravel.com.
However other purchases only earn 1 point each. Rather than doing that you can spend on these other AMEX cards that will supercharge your earnings. And you can then redeem points earned on other AMEX cards with your Business Platinum card so that the points can be transferred into miles or used at a value of at least 1.54 cents each towards paid tickets!
You can apply for other AMEX cards on the same day and only have 1 credit pull.
-If you have the The Blue Business℠ Plus Credit Card from American Express you’ll earn 2 points per dollar everywhere on up to $50K in annual spending. With a Business Platinum card that’s a minimum of 3.09% back everywhere!
-If you have the no annual fee AMEX Everyday card and make 20 transactions per month you will earn 2.4 points per dollar at US supermarkets and 1.2 points per dollar everywhere else. With a Business Platinum card that’s a minimum of 3.7% back at US supermarkets.
-If you have the AMEX Everyday Preferred card and make 30 transactions per month you will earn 3 points per dollar at US supermarkets and 1.5 points per dollar everywhere else. With a Business Platinum card that’s a minimum of 4.62% back at US supermarkets.
-If you have the AMEX consumer Platinum Card you’ll earn 5 points per dollar on airfare. With a Business Platinum card that’s a minimum of 7.7% back.
Charge card benefits:
Rather than being limited to a fixed credit line, these cards offer flexibility to spend far more, with the caveat that it needs to be paid back in full on the due date.
Gold elite status with 2 hotel chains:
The Platinum card offers Hilton Gold and Marriott Gold elite status.
You can enroll online here for Hilton Gold status. You can also enroll additional cardholders for Gold status, but that needs to be done over the phone.
You can call AMEX for Marriott Gold status.
Hilton Gold status gets you upgrades, bonus points, 5th night free on awards, late checkout, breakfast, and bottled water. Free breakfast doesn’t usually do much for me as a kosher traveler, but we had the pleasure of staying at the Waldorf Astoria Jerusalem last year where we were treated to a fantastic daily breakfast, which is free for Hilton Gold and Diamond members. There is a mind-boggling quantity of awesome kosher food there, from dozens of daily hot dishes to hard cheeses, fresh fruits and pastries to fresh squeezed juices, as well as on-demand dishes like french toast, pancakes, waffles, and eggs. Unlimited wine, hot or cold chocolate drinks, and espresso drinks are included as well.
Marriott Gold status gets you late checkout, more points per dollar spent at Marriott hotels, and a points amenity on stays, even when redeeming points.
Centurion lounge access:
Originally, Centurion Lounges were designed for free access only for Centurion cardholders. You know them as those black cards that cost a whopping $2,500 per year with a $7,500 initiation fee that used to give top-tier elite status on airline like Continental and USAirways but no longer do.
Once the Platinum card started losing airline lounge partners they opened the Centurion lounge up to Platinum cardholders for free as well. Platinum cardholders used to be able to bring a spouse and kids into a Centurion lounge for free, but now you are limited to 2 guests besides for the cardholder. The good news is that additional cardholders also get access and can bring in 2 guests as well.
Centurion lounges offer services that vary by location including free spa/massage services, showers, complimentary food, drinks, cocktails, etc.
The lounges offer varying amenities like premium drinks, showers, and massages. And as they are staffed by AMEX you can even get help with account issues and access the lounge even if you forget your Platinum card.
Currently, there are Centurion Lounges in:
- Dallas/DFW (Terminal D, near American)
- Houston/IAH (Terminal D, near United)
- Las Vegas (Concourse D, near United)
- NYC/LGA (Central terminal B upstairs, before security)
- Philadelphia (Terminal A West, near American)
- Miami (Concourse D, near American)
- Seattle (Concourse B)
- San Francisco (Terminal 3, near United)
International locations include:
- Buenos Aires/EZE
- Hong Kong (Terminal 1)
- Mexico City
- Monterrey, Mexico
- Sao Paulo/GRU
- Toluca, Mexico
Future lounges include Charlotte, Denver, London, Los Angeles, and 2 level Centurion lounge in JFK terminal 4. Terminal 4 includes airlines like El Al, Asiana, Delta, Emirates, Etihad, KLM, Singapore, South African, Swiss, Virgin Atlantic, and more.
Priority Pass membership.
Primary and additional cardholders can bring in 2 free guests each.
Lounges include the Art & Lounge in Newark which is the lounge that El Al provides for their business and first class passengers stocked with kosher food.
Other lounges now include restaurants where you can order $28 of food and drinks for free. I always stop at Bar Symon in Cleveland for free KIND bars and bags of chips to go.
Currently there are Airspace lounges in Cleveland and San Diego.
Primary and additional cardholders can bring in 2 free guests each.
These are modern lounges with free premium coffee, bottles water, and self service soft drinks. Additionally you and every guest also gets a gift card valid towards purchasing premium alcohol, local craft beers, cocktails, and meals.
Currently there are US Escape lounges in Hartford, Minneapolis, Oakland, Ontario and Reno.
Primary and additional cardholders can bring in 2 free guests each.
You can access Delta lounges for free with a Platinum card when flying on Delta. You don’t get any free guests, but additional Platinum cardholders can access Delta lounges for free as well.
Global Entry/Pre-Check Fee Refund
It costs $85 to apply for a 5 year TSA Pre-Check membership which makes flying pleasant again. Shorter lines, no need to remove your shoes, belt, jacket, or hat. You can keep your laptop and freedom baggie with liquids in your carry-on. And you go through a good old fashioned metal detector instead of assuming the position in a nude-o-scope. If you charge it on your Platinum card the fee will be refunded.
It costs $100 to apply for a 5 year Global Entry membership which lets you bypass the customs line. If you have Global Entry you also get TSA Pre-Check. If you charge it on your Platinum card the fee will be refunded.
You can add additional Green cardholders to your account for free and they will each qualify for a Pre-Check or Global Entry fee refund as well.
My whole family has Global Entry and it sure makes traveling a whole lot easier!
Unlimited worldwide Boingo WiFi:
With either Platinum card you now get free unlimited Boingo Wi-Fi worldwide, perfect for avoiding confiscatory rates at airports when traveling. Search from over 1 million hot-spots here.
Gogo In-Flight Wi-Fi:
With the Business Platinum card you get 10 annual Gogo flight passes to use on any flight with Gogo internet.
Lost Item Protection:
If you buy something on your Platinum card up to $10,000 and lose it within 90 days of purchase it will be fully covered. Many cards offer stolen item protection, but that requires a police report to be filed and often has a cap of just $1,000.
Premium Roadside Assistance:
Car Rental Perks:
A 4 hour late return fee-free grace period at Hertz and fee-waived Gold Plus membership and National Executive guarantee upgrades and faster free award rentals.
The card also comes with free checked baggage insurance and it has no foreign transaction fees. And of course it comes with all of the amazing purchase protections that other American Express cards have as well.
AMEX business cards don’t appear on your credit report. That’s good for a couple of reasons.
First of all they won’t count against your 5/24 count for opening new Chase cards. Only cards on your report that have been opened within the past 24 months count for that.
Second, when you spend money on personal cards your credit score will be hurt even if you pay your bill on time. A whopping 30% of your credit score is based on credit utilization. You can pay off your card bill before your statement is generated to avoid that, but that takes effort and laying out money well before you have to. Additionally it’s good to have the statement close with a couple dollars to show the card is active and being paid every month. On an AMEX business card it’s just not reported, so you can wait until the money is due without it having a negative effect on your score.
You may already have a business that needs a card to keep track of expenses. For example if your name is Joe Smith and you sell items online, or if you have any other side business and want a credit card to better keep track of business expenditures you can just open a business credit card for “Joe Smith” as the business name. You don’t need to file any messy government paperwork to be allowed to do that.
Will you be signing up for a Business Platinum card before the annual fee goes up?
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