Beginning June 1, the Business Platinum card from Amex will lower their 50% rebate on travel booking redemptions down to 35%. New card applicants who applied/apply for the card between October 5, 2016 and May 31, 2017 will receive one full year of the 50% benefit after which time it’ll go down to 35% like everyone else.
Many people wondered what would happen if you upgrade a card to become a business Platinum card before June 1. Will it get one year of the 50% rebate benefit?
@AskAmex was asked on Twitter about upgraded cards a few days ago, but they weren’t sure. They got back today with a clarification that upgraded cards WILL also get the one-year benefit from the date of the upgrade. I suspected this would be the case, but it’s certainly important to hear it from the horse’s mouth.
If you have a business Green card or Gold Rewards card, consider upgrading it to the Platinum card to lock in the benefit. Even if you currently hold the Business Platinum, it could make sense to this; downgrade the Platinum to Green/BGR (Green has a $95 annual fee, BGR has a $175 annual fee) and upgrade the Green/BGR to Platinum.
Even if you don’t have any Green/BGR, it might be possible to downgrade the Platinum card now and subsequently upgrade the card before the end of the month. (FYI: Downgrades get a prorated annual fee.) There’s a bit of a risk that something could go wrong, but as far as I know there isn’t any rule against downgrading – even within the first year – and upgrading soon after. (Don’t downgrade to BGR if you plan on applying for that card in the future since it could negate your signup bonus eligibility.)
If you are considering this route, I’d give at least one day, and preferably a few days, before the deadline to make sure it all works out properly.
