Editor’s note: Some of the offers mentioned below may have changed or are no longer be available. Visit our Top Credit Cards page to see current offers.
American Express has been busy in 2018 making updates to a handful of their personal and business cards. In October, they relaunched the American Express Gold Card with a great new set of perks appealing to those who spend a lot at restaurants and grocery stores. Earlier this month, they added a number of updates to the American Express Business Gold Card making it an enticing option for many small business owners.
On Monday, it was The Business Platinum Card from American Express’ turn. Amex sent an email to existing Business Platinum cardholders outlining a few new benefits that will be available starting in February 2019. But the bank is also increasing the annual fee on the card from $450 to $595.
What are the New Amex Business Platinum Card Benefits?
Per the email sent on Monday morning to existing Business Platinum cardholders, Amex will be adding the following benefits to the card in 2019.
WeWork Access: Cardholders will receive one year of complimentary Platinum Global Access from WeWork, a network of premium co-working spaces all over the world. This membership is valued at $2,700. Amex will be providing more information in February 2019 about this offer and how to enroll.
Dell Statement Credits: The Business Platinum card will also be adding up to $200 in annual statement credits for U.S. purchases with Dell. Again, cardholders will receive more information on how to enroll in the new Shop Dell benefit in February 2019.
$100 Hotel Credit: Recieve a $100 hotel credit on qualifying charges at hundreds of properties in the Hotel Collection for new reservations made after January 1st, 2019 when booked through Amex Travel. This benefit previously offered a $75 credit.
In addition to these new benefits, Amex is increasing the annual fee on the fard from $450 to $595 – a $145 increase. The fee increase will not take effect until your first membership renewal date on or after your February 2019 billing cycle. This means if your next annual fee is due in January 2019, you can enjoy these new benefits for a full year before paying the increased annual fee.
In my opinion, the Amex Business Platinum Card is well worth the $450 annual fee. It provides $200 in annual airline statement credits, 12 free Gogo Wifi internet passes, and a 35% rebate on points redemptions for your selected airline which is my personal favorite benefit the card offers. For a full review of this card, click here.
If you are a regular business traveler, no other card can match the airport lounge access. You will get access to Amex’s growing number of Centurion Lounges, a Priority Pass lounge membership and access to the Delta Sky Club when flying with Delta. This is one of the best ways we know of to drastically improve your travel experience and improve the time you spend inside airports.
But are these new benefits worth the big annual fee increase? That largely depends on whether WeWork access is useful for you. Personally, I’m very excited about this benefit: WeWork has facilities both at home and around the world. I’d never pay $2,700 for a membership, so this is a good deal.
WeWork’s co-working spaces will likely have a large appeal for small business owners who don’t have an office and are looking for a place to get work done. This new perk should be intriguing for a lot of small business owners, but it certainly won’t be for everyone.
I am curious to see if each cardholder will only get this benefit for one year or how Amex plans to handle this. I’m anxious to see more details on the program come February.
American Express has done a great job over the past few years adding meaningful benefits to some of their most powerful credit cards. They seem to have a pulse on what their membership base wants and an ability to make it happen. Stay tuned as we will provide more information on these updates as it becomes available.