10xTravel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. All values of Membership Rewards are assigned based on the assumption, experience and opinions of the 10xTravel team and represent an estimate and not an actual value of points. Estimated value is not a fixed value and may not be the typical value enjoyed by card members.
The Business Platinum Card® from American Express is getting its biggest update ever. The annual fee is increasing from $695 to $895, a $200 jump. But cardholders will now enjoy several new benefits. The most notable addition is a $600 annual hotel credit for Amex Fine Hotels & Resorts or The Hotel Collection bookings (stays of at least one night for Fine Hotels & Resorts, and at least two nights for The Hotel Collection). This credit is split into two $300 chunks – one for January through June and another for July through December. For existing cardmembers, these new perks start right away, but the higher annual fee won’t kick in until their first renewal after December 2, 2025.
Other improvements include better rewards on business purchases. The card now offers 2X points (up from 1.5X) on purchases of $5,000 or more and on spending with U.S. cloud services, software providers, construction materials, hardware suppliers, electronics retailers, and shipping companies. This bonus applies to up to $2 million in spending per year. Big spenders who hit $250,000 in annual card purchases can earn up to $3,600 in statement credits toward American Express Travel flights and One AP monthly fees. Cardholders will also now receive Leaders Club Sterling status with Leading Hotels of the World.
The Business Platinum Card® from American Express
Earn 150,000 200,000
Membership Rewards® Points
after you spend $20,000 in eligible purchases on the Business Platinum Card® within the first 3 months of Card Membership.
Annual Fee:
$895
Our Take
Our team believes these changes offer good value for most business owners, despite the fee increase. The $600 hotel credit alone can offset the higher annual fee for those who would naturally use it. The improved rewards rate on key business purchases also adds meaningful value for companies with significant spending in those categories.
While these updates improve the card’s overall value, keeping track of all the different credits and benefits requires effort. The changes to the personal version of this card, The Platinum Card® from American Express, seem more broadly useful with the addition of $400 in Resy dining credits. For business owners who can take advantage of the hotel credits and enhanced earning rates, the Business Platinum remains a strong option. However, those who don’t naturally spend in these categories may find the higher annual fee harder to justify.
New to the world of points and miles? The Chase Sapphire Preferred® Card is the best card to start with.
With a bonus of 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. , 5x points on travel booked through the Chase TravelSM Portal and 3x points on restaurants, streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs), this card truly cannot be beat for getting started!
Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
10xTravel is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. All values of Membership Rewards are assigned based on the assumption, experience and opinions of the 10xTravel team and represent an estimate and not an actual value of points. Estimated value is not a fixed value and may not be the typical value enjoyed by card members.
Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
bonus cash back
after you spend $6,000 on purchases in the first 3 months from account opening
miles
once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
bonus points
after you spend $5,000 on purchases in the first 3 months from account opening.
Membership Rewards® Points
after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
