Amex Business Platinum Credit Card Annual Fee Increases January 13

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The American Express Business Platinum Card® is a premium business card with a long list of benefits for small business owners.

The list of perks seems to grow from travel credits, access to airline lounges, and more to help you save money and run your business. But to gain access to these benefits, you will have to pay a hefty annual fee of $ 595. However, the annual card fee will drop to $ 695 as of January 13 (see rates and fees)

But, if you apply for the card before then, you can lock in the reduced annual fee for an entire year.

Select analyzes the details of the higher annual fees and what you need to know when considering applying for a premium credit card.

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Amex Business Platinum annual fee increase

For all requests received on or after January 13, the annual fee for the Business Platinum card will be $ 695. However, if you apply before that date, your annual fee will be $ 595 for the first year of membership. After the first year, it will drop to $ 695.

Whatever fees you pay, this premium card is one of the most expensive on the market. But as a small business owner, you may find that the benefits of the card outweigh the cost of the annual fee.

Some of the notable benefits of the Amex Business Platinum are:

  • Valuable welcome offer: You can earn 120,000 Membership Rewards® points after spending $ 15,000 on qualifying purchases with the card during the first three months of card membership. Even at a modest one cent per point, that’s $ 1,200 in rewards that can be redeemed for travel, gift cards and other valuable items. You will often get much more value when transferring to travel partners like Delta, Air Canada Aeroplan and more.
  • Spend credits from Dell Technologies (up to $ 400 per year), Indeed (up to $ 360 per year), Adobe (up to $ 150 per year) and for mobile phone service (up to $ 120 per year).
  • Access to airport lounges including Amex Centurion, Delta SkyClubs lounges when traveling in Delta and Priority Pass lounges
  • Amex Concierge
  • Up to $ 200 in annual airfare credits for incidentals like checked baggage, seat selection, in-flight food costs and more
  • $ 179 credit to register for CLEAR
  • Automatic hotel loyalty status with Hilton Honors and Marriott Bonvoy
  • $ 100 credit to register for TSA PreCheck or Global Entry
  • Comprehensive travel insurance
  • No transaction fees abroad (see prices and fees)

The American Express Business Platinum Card®

On the secure American Express site

  • Awards

    Earn 5 times more Membership Rewards® points on prepaid flights and hotels on

  • Welcome bonus

    Earn 120,000 Membership Rewards® points after spending $ 15,000 on qualifying purchases in the first 3 months of card membership

  • Annual subscription

    $ 595 (1/10/2021 to 1/12/2022)

  • Introduction APR

  • Regular APR

  • Balance transfer fees

  • Foreign transaction fees

  • Credit needed


  • Sign up to receive up to $ 400 in annual statement credits on Dell purchases (up to $ 200 semi-annually), up to $ 360 with Indeed, up to $ 150 with Adobe, and up to $ 120 on wireless phone purchases
  • Get 35% points back when you use points to purchase all or part of a plane ticket, up to 500,000 bonus points per calendar year
  • American Express International Lounge Collection
  • Gain security with CLEAR® when available and get up to $ 179 per year on your subscription when you use your card
  • Up to $ 200 statement credits per calendar year for baggage charges and more with an eligible airline

The inconvenients

  • Annual fee of $ 595 ($ 695 if application is received on 1/13/2022 or after)
  • No 0% introductory finance offer for balance transfers

What to consider with a premium credit card

With a business credit card, you can usually deduct the annual fee when you file your taxes for your business. However, just because you can infer doesn’t mean that you shouldn’t be careful when signing up for a premium credit card. With annual fees running into the hundreds, premium credit cards take a little more effort to ensure that you get back the value of your card.

Here are some things to consider if you are interested in a premium credit card:

Premium credit cards are great for their perks and perks, but does the card fit your business needs and budget? If the perks will largely go unused, or the annual fee will make your budget uncomfortably tight, you might want to consider a low or no annual fee business card.

  • Plan ahead with the card

In the case of the Amex Business Platinum card, there are many advantages to use. But before you apply, think about the future of your business and the benefits that can line up. For example, if you need a new laptop, consider the $ 400 Dell Credit. If you travel regularly, you can take advantage of several travel-related benefits, such as hotel loyalty status, access to airline lounges, and airline expense credits.

Using the benefits of your card is the way to justify large annual fees. But if you have perks that will go largely unused, paying for a premium credit card may be unnecessary.

As you spend with the card, you will earn rewards based on where you shop. The Amex Business Platinum Card currently has three spending categories: 5X points per dollar spent on prepaid flights and hotels when booking on, 1.5X points per dollar on purchases of $ 5,000 or more (up to ‘at $ 2 million per year) and 1X point per dollar spent on all other qualifying purchases.

For example, if you run an Etsy store from home, these expense categories may not be suitable for your monthly spending. So, when shopping for a business credit card, try to select one that offers spending bonuses for the categories you will be spending in.

At the end of the line

For pricing and fees for the American Express Business Platinum Card®, click here.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.

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