Posted by William Charles on January 30, 2019
Credit Cards

Published on January 30th, 2019 | by William Charles

103

Should I Sign Up For The American Express Business Platinum Card Before Annual Fee Is Increased To $595? (9:59pm EST End Time)

Update: Looks like Dan got the date wrong.

Update: According to Dans Deals the annual fee will be increasing to $595 9:59pm EST 1/30/19. Only a couple of hours remain. It isn’t clear if this will affect all links or only affiliate links.

In case you didn’t know American Express is increasing the annual fee to $595 on the Business Platinum card at the start of February, this is an increase of $145 annually. American Express is adding the following benefits:

  • One year of complimentary Platinum Global Access from WeWork ($2,700 value), a network of premium workspaces around the world. With Platinum Global Access, enjoy over 300 workspaces in 75+ cities and 20+ countries.
  • Up to $200 in statement credits annually for U.S. purchases with Dell on your Business Platinum Card.

I believe the Dell credit will be a $100 semi annual credit, working similar to the Saks Benefit rather than the monthly Uber benefit offered on the personal version but that is yet to be confirmed.

Some readers want to know if they should sign up before the annual fee is increased, or wait until afterwards. The current bonuses available are as follows:

When other cards have been refreshed like this, we have seen the public sign up bonus fall after the product refresh. If that holds true then applying now would make sense as you’d be getting a better bonus and saving $145 in the first year. I think if you can get the 100,000 point offer after $10,000 then applying now is a no brainer, if you can only get the 75,000 point offer then I think it only makes sense if you can self refer and hit the $20,000 in total spend required.

It’s obviously also possible that we see a really strong launch offer from American Express, although that isn’t consistent with what has happened previously. At the end of the day, the choice is yours! Will you be applying or waiting? Let us know in the comments below.



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Brad
Brad

Will I be eligible for the bonus if I already hold the Platinum personal card?

Larry
Larry

Yes

Al
Al

I called, they didn’t offer 100k. So I self referred from bgr. 70k mr points for $10k spend isn’t bad.

Kurt
Kurt

I read about someone doing this last month and have been wondering how to get that offer. I only see a 20K offer for a self referral.

Sevillada
Sevillada

20k from self + 50k from the first 10k

foobar
foobar

I hate that they added the Dell credit. It’s utterly useless to me, as most of the dell stuff is just rebranded and overpriced, and their computers aren’t that great either. I get some businesses will benefit from this, but for businesses like mine that are more media or computing/software services related (and therefore require robust machines), it sucks that they’re pigeon-holing the credits, into a low-quality store no less, with terrible customer service to boot.

I guess I’ll have to find another decent business credit card that is willing approve to approve a cc for my business :/

Andrew
Andrew

They have a lot of 3rd party things. Pick up a Nintendo game or something

Steven
Steven

I’m likely going to grab an SSD or something and price match it to a different store.

Sevillada
Sevillada

You can pick up a monitor or video games like others mentioned

NBG
NBG

Amex has been calling me non stop to signup for this card for the 100K pts before fee hits..I haven’t ok’d it yet. Don’t see value from MS angle for me.

Parts Unknown
Parts Unknown

You don’t see the value of 100k MR for $450?

NBG
NBG

Caved and called the rep and applied /approved. The Airline fee benefit tipped me in favor of going for it. And no HP.

Andrew D
Andrew D

can you share phone number?

Sevillada
Sevillada

Amex rarely does a HP (for existing)

VL
VL

Now you wish you would do it in December and get extra $200 of airline credit 🙂 Good luck anyway.

Dave C
Dave C

$100 in VGC fees + $450 AF – $200 Jetpaws = $350 for 100k MR

vipul
vipul

You can double dip airlines credits and probably Dell credits also. This nullifies the annual fee.

Jon
Jon

what? you don’t see why you’d pay $250 for 110K pts? worth $1,375 with schwab cash out?

NBG
NBG

I didn’t know they had $200 airline credit. Getting confused with business gold not having. Still 10K spend. I can do my usual grocery VGC route. Just got the green 2 days back with the self referral.

Steve
Steve

Can you explain? What is Schwab cash out?

Zorn
Zorn

If you sign up for a checking account with Schwab (you can also get a $100 bonus for doing that) you are eligible to get a Schwab brand Amex Platinum. Having that makes you eligible to redeem any amount of MR at a value of 1.25cpp directly into your Schwab checking or brokerage account. You also can get a sign up bonus for the Schwab Platinum card itself.

Jieyu
Jieyu

Only a Schwab checking account is needed? I thought you will need a brokerage account with them, don’t you?

Monica
Monica

How do I spend 10k in 3 months without MS. That’s the problem otherwise I would jump to open it before the increase.

Sarah D
Sarah D

My understanding is that you can MS, just not somewhere that reports L3 data. Someone correct me if I’m wrong.

Chicagoan33
Chicagoan33

You can prepay your taxes (1.87% fee) mixed in with organic spend.

Dailybread
Dailybread

Pay your tax?

Dan
Dan

Set your tax withholding allowances at work so nothing is withheld, then make a quarterly estimated tax payments. That’s not considered MS, and it comes with a tiny 2% fee.

If you own a house, you can pay property taxes with a credit card. I fo this and my county charges a small 2.5% fee.

Sevillada
Sevillada

Get creative 🙂

Emily
Emily

I am in the minority of cardholders who could REALLY benefit from a free WeWork membership. I got the card in December partly in anticipation of that benefit, but the pessimist in me suspects that Amex won’t give us free or heavily discounted access to a US WeWork…we’ll just be able to access global lounges when traveling, kind of like an airport lounge. I really hope I’m wrong, though! Anybody have any more info on this yet? I called and asked my local WeWork about it, and they knew nothing.

CM

I don’t think they could justify the 2.7k valuation is it didn’t have US access.

How often do you need WeWork when you travel? Most hotels already have business centres; if you travel for work, you probably already have access to co-working out of your customer’s facilities, or at the conference you’re attending; plus, SMB, even hi-tech ones, is usually a local/national affair, so, any biz owner would certainly find value accessing a space in a different part of their own town, but would hardly ever benefit from true global access.

So, I think there’s good hope for unlimited local access.

Emily
Emily

Thanks, that’s encouraging–and you’re right, I’d never spend my vacation time in an overseas WeWork! It’d be the relatively rare self-employed or remote digital nomad who’d use that benefit.

I just want a membership so I can get out of my home office a few times a week, drink free coffee, and attend events downtown (the closest WeWork to me is by a lively city park in downtown Dallas).

Lt
Lt

I’m literally in the same boat as you. Digital Nomad, Dallas — Would love to check out all the various wework offices in the metroplex and meet other entrepreneurs. Hopefully new info gets released soon.

Sevillada
Sevillada

Same here in Dallas, they are really out of my way

Jason
Jason

Do we know yet if that WeWork membership is recurring or just for the first year?

Sevillada
Sevillada

The problem is that we don’t have enough info. I might use it to have some alone-time pseudo-wfh, but otherwise…

Sarah D
Sarah D

Has there been any clarification on whether the wework benefit is a one time deal, or if it will be ongoing?

It’s actually potentially hugely beneficial to me, but not right now, so I was kind of thinking of putting this off.

David Hargette
David Hargette

I got denied the bonus on the Schwab Platinum without popup for “rewards abuse”. At least I’ll be able to triple dip, and I’ve cashed out a few thousand dollars in MR. Wish I could do the 100K/10K, but I can’t roll the dice on these huge AF Amex cards anymore with their new T&C. I’m almost at the end of the line with Amex anyways. They’ve been very good to me through the years.

Paul
Paul

Dell credit could be valuable IF it will work on gift cards or be able to buy TVs, video game consoles, etc from Dell Home. Not sure this will code for eligible purchases.

beat2def
beat2def

My AF is due. I called for the retention offer and they said, “15,000 bonus points for doing nothing or spend $10,000 in 90 days to earn 30,000 bonus points ($375 transferred to Schwab.” I’ve already used my airline credit. I’d grandfather in but I can’t reach that spend in easily without some minimal ms. What would you do?

Andrew D
Andrew D

Depends on what you value MR points at and what the lounge access and other perks are worth to you. If close to 2cpp then the 15k plus $200 airline gc is pretty close to $495 and you get the rest for free – if you have lounge access on other cards may be time to close. $10k spend for effectively 10k + 15k is not a great deal unless you really feel like MS.

beat2def
beat2def

I value them at a 1.25 cpp. I have lounge access with my personal Plat card. I would get another $200 airline fee credit 1/1/2020 and free internet on flights but that’s not enough. Pretty much I’d spend $450 to earn $575 in liquidable cash in a year + I’d have to MS a little bit. Yikes. Probably not worth the effort.

Andrew D
Andrew D

Looks like you cancel. Could always ask for another retention offer when you call back in to cancel.

Joe
Joe

Watch them Surprise us all and give us $20/mo at Dell. Now wouldn’t that be a nail in the coffin

somy
somy

any way to apply for it if I had this card before? Do we still have referral links which bypass the once in a lifetime language?

Steven
Steven

If you get in before the product revamp, do you still get the WeWork and Dell credits? If so, that’s a no brainer – get everything at less. If they delay those benefits, or if the WeWork pass IS the bonus, then the 75,000 points PLUS 20,000 for a referral is a clearer winner for me.

Steven
Steven

When I called AMEX, a CSR told me the Dell credit will be given all at once like the airline incidental credit.

Cesar
Cesar

Read the same thing from another blog

Matt Katakis
Matt Katakis

Has anyone recently had success calling in? I’ve tried on a couple of occasions recently and have had no luck.

Andrew D
Andrew D

There are some DPs on reddit of success recently but it wasn’t clear to me which phone number they used. Wish I knew!

Chris
Chris

This is the number I used in December and CSR’s name was Dan. You can give it a try. 855-431-8730

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