American Express is updating the business version of the Platinum card starting in February 2019. Emails about the updates recently went out to existing cardholders.
$595 Annual Fee
The most noticeable change to the Amex Business Platinum is the increase in annual fee, from $450 to $595. Regardless of if you can take advantage of the added benefits, the fee increase will impact everyone.
If you want to lock-in the $450 annual fee for at least a year, I recommend applying before Feb 2019.
WeWork is a network of co-working space that has offices worldwide. A WeWork membership is ideal if you’re an entrepreneur, freelancer, small business owner, or you work remotely.
Starting Feb 2019, Amex Business Platinum cardmembers will receive one year of complimentary Platinum Global Access from WeWork. The membership is valued at $2,700.
I don’t expect this benefit to last long since it sounds too good to be true. My prediction is that the WeWork membership could be a temporary benefit.
You’ll come out ahead of the annual fee if you can utilize the WeWork membership.
$200 Dell Credits
Amex Business Platinum cardholders will receive up to $200 in statement credits annually to use at Dell.
Most people I know aren’t fans of Dell computers. If you’re in the market for other electronics such as Bose headphones, DJI drones, monitors, and cameras, you can find them online at Dell.com.
It’s unclear how the Dell credits will be issued, or what items are eligible. We’ll have to wait closer to Feb 2019 for the official statement.
$100 Hotel Credit
Cardmembers will receive a $100 hotel credit on qualifying charges at properties in the Hotel Collection. This is a $25 increase from the $75.
I’ve personally never utilized this benefit because I usually don’t stay at the properties in the Hotel Collection.
If you can maximize the added benefits coming in Feb 2019, the optimal time to apply for the Amex Business Platinum card is December. The Business Platinum card comes with a $200 airline fee credit each calendar year.
When you apply in Dec 2018 (ideally before the end of the month since statement credits must be processed before Dec 31) you’ll receive a $200 airline incidental credit in 2018, and another in Jan 2019.
I recommend selecting Delta, Southwest, or American Airlines as the airline of choice since the credits are easier to use.
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