The Business Platinum Card® from American Express: Worth the $895 Annual Fee?

The Business Platinum Card® from American Express has long been a favorite among small business owners seeking premium travel benefits and flexible rewards. In September 2025, American Express rolled out a major refresh to the Business Platinum, increasing the annual fee, adding new statement credits, and enhancing some of the card’s earning structures.

Here’s a closer look at the changes, effective dates, and what they mean for cardholders.

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. See Rates & Fees for The Business Platinum Card® from American Express.

A Steep Annual Fee Hike

The biggest headline is the annual fee increase. The card is jumping from $695 to $895, a $200 bump (Rates & Fees). That’s steep, even in a world where top-tier travel cards are regularly priced north of $500.

For new cardmembers, the higher fee applies immediately. For existing cardholders, it kicks in at renewal on or after Dec. 2, 2025.

This creates an interesting timing gap: if your renewal falls before that date, you’ll still pay $695 for one more year while gaining access to the refreshed perks. In practice, that means some cardholders will get a “grace period” to test out the new benefits before deciding if the higher fee is justified.

The Business Platinum Card® from American Express Calculator

Ask Sebby crunches the numbers for you to calculate the Expected Value of The Business Platinum Card® from American Express. For the expected value of points, we derive the approximate dollar value based on the numbers you enter in the calculator. Scroll down to the end of the post to see our methodology. 

The calculator below contains default figures and serves as an example only. Users should insert their own data for the most accurate results. 

Calculation Methodology

The results from the above calculator are based on your ability to reach the minimum spend requirement to earn the welcome offer, your amount of spend on different categories, how you plan to redeem American Express Membership Rewards, and how much relative value you assign to the other benefits. 

The “Years” referenced in the calculator refer to the cardmember year, based on when you are approved for the card.

• Year 1 = first 12 months of card membership
• Year 2 = the following 12 months afterward